Zion Market Research Global Companion Diagnostics Market, 2016–2024 | Page 3

Companion Diagnostics Market
Global Companion Diagnostics Market by Growth Factors: Escalating growth in the
global companion diagnostics market is mainly due to technological development in the medical
devices for the treatment and diagnosis of the patients. Increasing prevalence of diseases such
as cancer & HIV is anticipated to foster the global market growth as it helps in determining
patient-specific dose and drugs. Rising awareness among patients and physicians regarding drug
toxicity is positively enhancing the global companion diagnostics market. Increasing population
in the developing countries is expected to propel the global market growth. However, the major
challenges before the global market are the lack of skilled professionals, lack of awareness
about companion diagnostics, and logistic issues raised in order to develop drug and companion
diagnostics together, which may hinder the global companion diagnostics market growth.
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Global Companion Diagnostics Market by Segmentation: The global companion
diagnostics market is divided based on the disease as gastric cancer, colorectal cancer,
melanoma cancer, genital cancer, breast cancer, lung cancer, and others. On the basis of
indications, the global market is segmented as inflammation, cardiovascular, virology, central
nervous system, and oncology. Of these, oncology is the largest revenue-generating segment in
the global companion diagnostics market.
Global Companion Diagnostics Market by Regional Analysis: The global companion
diagnostics market is segmented based on geography as Europe, Asia Pacific, Latin America,
North America, and the Middle East & Africa. North America contributed for the largest market
chunk. Europe accounted for the largest market share in the global market owing to increasing