BIS Research - Emerging Technology Market Intelligence

Companion Diagnostics (CDx) Market is Likely to Grow at a CAGR of 21.38%

Oct 8, 2018 11:06:27 PM / by BIS Research posted in companion diagnostics market share, companion diagnostics industry, companion diagnostics market, companion diagnostics market forecast, companion diagnostics market growth, companion diagnostics market trends, companion diagnostics report, global companion diagnostics (CDx) market, global companion diagnostics market, Healthcare & Medical

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Over the past decade, precision medicine has gained a lot of popularity and appreciation as this method enables doctors to move from trial and error treatment approach to specific and target-based approach. With the technological advancements in the components that form the basic science of the precision medicine, it also paved the way for the development of advanced techniques of diagnoses and treatment such as liquid biopsy, companion diagnostics and next-generation sequencing. Of the three, companion diagnostics refers to development of the biomarker-based testing along with the process of development of the targeted drug. Further, companion diagnostics also supports in identifying information about the patient and facilitates the use of targeted therapeutics. It even, helps the healthcare provider to assess the benefits and risks associated with that drug. As per a report published by the BIS research titled, Global Companion Diagnostics (CDx) Market - Focus on Technology & Indication, the market for companion diagnostics has witnessed massive growth of 49.67% from 2015 to 2017. It is further expected to grow by 2025 at a CAGR of 21.38% and is expected to reach $4.1 billion.

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