Companion Diagnostics Market: Relevant Developments Overview

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Companion Diagnostics Market Relevant
Developments Overview As per Roches Personalized
Healthcare Brochure, for every 10 patients with
cancer treated, only an average of half will
actually benefit from it. While some may suffer
serious side effects, others will be completely
unaffected following the course of the treatment.
As a result, leading pharmaceutical companies
are collaborating to identify and develop
innovative predictive diagnostics, including
companion diagnostics, in order to target
patients more likely to respond to suitable
therapies. Inkwood Research estimates that the
global companion diagnostics market is set to
grow with a CAGR of 13.29 from 2022 to 2030,
primarily attributed to the increasing number of
cancer cases and associated mortalities. The
market growth is further fuelled by the
rising popularity of precision medicines as
well as the surge in adverse drug reaction cases.
Significance of Companion Diagnostics in
Oncology As defined by the United States Food and
Drug Administration (FDA), companion diagnostics
entail devices that provide data linked to the
effective use of a biological product or
corresponding drug. Moreover, companion
diagnostics also aim to help medical
professionals ascertain whether the advantages
of a particular treatment outweigh the potential
risks and side effects. According to the World
Health Organization (WHO), after cardiovascular
conditions, cancer is the second-leading cause of
death worldwide, accounting for approximately one
in six fatalities. As the field of oncology
continues to develop, researchers are dedicating
extensive resources to discover innovative drug
regimens and companion diagnostics to offer
targeted therapies that serve individual patients
effectively.
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• Conversely, with the ongoing evolution of
  oncology practices, in addition to companion
  diagnostics, the FDA has also noted a trend
  toward more advanced tests capable of detecting
  upto hundreds of genetic mutations within a
  single test. In this regard, Inkwood Researchs
  analysis suggests that the oncology segment,
  under the indication category, is set to grow
  with the highest CAGR during the forecast period.
  Moreover, oncology was also the dominating
  indication in 2021.
• Oncology Segment Developments by Key Players
• In view of the contribution of leading players,
  Biocartis, headquartered in the United States,
  has further expanded its RD initiatives across
  the oncology and infectious disease division. The
  company also witnessed significant growth in the
  sale of diagnostic devices, on account of the
  surging number of cancer cases and the spread of
  the novel coronavirus infection.
• Similarly, companies such as Myriad Genetics and
  Roche Diagnostics are actively investing in
  research and development within the oncology
  segment. Aligning with this, the VENTANA PD- L1
  (SP142) Assay by Roche Diagnostics is
  specifically designed to develop immune cell
  stainings visual contrast in the tumor
  microenvironment.
• The diagnostic tests by Arup Laboratories
  (United States) cover a wide range of
  clinical specialties, including oncology,
  cytogenetics, and molecular genetics.
• Companion Diagnostics Market Prominent
  Technologies
• The growth of companion diagnostics beyond
  oncology has significantly impacted clinical
  practice as well as the research and development
  pipeline. While the arena has expanded from a few
  oncology drugs with corresponding diagnostics to
  multiple therapeutic areas, several companies are
  now capitalizing on the demand for personalized
  treatments by offering various next-generation
  sequencing (NGS) technologies.
• Next-Generation Sequencing (NGS)
• With the advent of NGS and its prolific use in
  the clinical realm, relatively older techniques,
  including immunohistochemistry (IHC) and in situ
  hybridization (ISH), would observe depreciated
  demand. Consequently, on account of the increased
  efficiency, targeted sequencing is set to record
  increased usage in clinical diagnostics.
• The importance of polymerase chain reaction (PCR)
  techniques in targeted NGS sequencing is mainly
  attributed to the fact that it facilitates the
  simultaneous generation of multiple NGS
  libraries. Besides, it also aids the sequencing
  of various targeted regions. These factors are
  set to play a pivotal role in positioning
  next-generation sequencing as the fastest-growing
  technology during the forecast period, with a
  CAGR of 13.65.
• Polymerase Chain Reaction
• Polymerase chain reaction-based companion
  diagnostics are expected to continue to dominate
  the technology segment during the forecast years,
  with a significant share in neurology as well as
  novel oncology applications.

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• o The segments notable growth is primarily
  accredited to PCR-based companion diagnostics
  effective detection of biomarkers. In this
  regard, Qiagen NVs JAK2 V617F Kit utilizes a
  real-time PCR for the detection of suspected
  polycythemia vera (PV) linked to other
  clinic-pathological variables.
• Companion diagnostics offer numerous benefits,
  especially in advancing personalized medicine as
  well as improving clinical and pre-clinical
  targeted drug development. Therefore, the early
  adoption of companion diagnostics ensures the
  best prospects for diagnostic pairing, while
  enabling drugs to reach the market in greatly
  expedited timelines. Such developments are
  estimated to positively impact the global
  companion diagnostics market growth.
• Frequently Asked Questions (FAQs)
• What are some of the key restraints challenging
  the global companion diagnostics market? A
  Country-specific reimbursement issues and
  frequent cases of leakage in companion
  diagnostics for oncology are among the key
  restraints hindering the growth of the global
  companion diagnostics market.
• What are the end-users considered in the global
  companion diagnostics market study?
• A Pharmaceutical and biopharmaceutical
  companies, reference laboratories, and other end
  users are considered in the global companion
  diagnostics market study.