Market Research Report
North America Companion Diagnostics Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
|North America Companion Diagnostics Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)|
Published: January 17, 2022
Mordor Intelligence Pvt Ltd
Content info: 70 Pages
Delivery time: 2-3 business days
The North American companion diagnostics devices market is expected to witness a CAGR of 18.5%, during the forecast period. Certain factors that are driving the market growth include increasing demand and awareness for personalized medicine and targeted therapy, increasing cases of adverse drug reactions, and technological demands.
The United States takes an exceptional approach in regulating the innovative companion diagnostic devices. The US FDA approved diagnostic assays play an important role in managing patients to extend lifespan, while also enhancing the quality of life. Diagnostic assays have been found to be essential for the safe and effective use of therapeutics.
In-situ hybridization (ISH), especially fluorescence in-situ hybridization (FISH), is a reliable, reproducible, sensitive, and accurate procedure, which is less affected by tissue fixation and analytical variables, in comparison to immunochemistry and other techniques. It offers the benefit of simultaneous evaluation of morphology and gene amplification. FISH has been the method of choice for use in companion diagnostics for several cancer therapies, such as trastuzumab, lapatinib, and criotinib, which have been already approved by FDA and other therapies, like everolimus, ridaforolimus, bicatulamide, TBD, and other drugs, that are yet to obtain regulatory approval.
The North American companion diagnostics devices market is highly competitive and consists of a few major players. Companies, like Abbott, Agilent Technologies Inc., Biomerieux SA, Danaher Corporation (Beckman Coulter Inc.), F. Hoffmann-La Roche Ltd, Qiagen NV, Siemens Healthcare, and Thermo Fisher Scientific Inc., among others, hold the substantial market share in the companion diagnostics devices market.