Companion diagnostics are in-vitro diagnostics that provide information about therapeutic responses of patients for a specific treatment.

PORTLAND, OREGON, UNITED STATES, August 23, 2022 /EINPresswire.com/ -- According to the report by Allied Market Research, titled, "Companion Diagnostic Technologies Market by Indications (Oncology, Central Nervous System, Cardiovascular) and Technology (Immunohistochemistry, Molecular Diagnostics) - Global Opportunity Analysis and Industry Forecast, 2018 - 2026". The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

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Companion diagnostics (CD) is an in vitro diagnostic test that provides information about a patient's response to treatment for a specific treatment. Peer reviewers help identify patients who would benefit from treatment with specialist physicians that would improve clinical outcomes and reduce healthcare costs. CD also helps identify the group of patients most likely to respond to treatment. Therefore, negative treatments are excluded. It also saves money by protecting patients from the side effects of improper treatment.

However, coordinating the development of companion diagnostics and therapeutic products is a challenge for this market. Nevertheless, the increasing incidences of cancer, cardiovascular conditions, central nervous system conditions has resulted in significant investments in research and development of targeted therapies, which would need corresponding companion diagnostics and would be an opportunity for growth of this market.

Companion diagnostics market by indication is segmented into oncology, cardiovascular, CNS, autoimmune & inflammation, virology and others. Presently, the majority of the companion diagnostics has been developed for cancer and thus, it is the major revenue generating segment in the overall CD indication market. Companion diagnostics have been developed for breast cancer, lung cancer, colorectal cancer, gastric cancer and melanomas. Companion diagnostics for breast cancer is the highest revenue generator mainly because there has been an increase in the incidences of breast cancer and many companion diagnostics have been developed for detection of the HER/neu biomarker for breast cancer. As of now, companion diagnostics for cardiovascular conditions, central nervous system conditions , inflammation and autoimmune diseases and viral diseases are very few, with a majority still in the development stage; however, as more and more biomarkers are being discovered, there would be an increase in the development of new companion diagnostics.

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Major Key Players:

B. Braun Melsungen AG (Germany), Bovie Medical Corporation (U.S.), Megadyne Medical Products Inc. (U.S.), CONMED Corporation (U.S.), Medtronic plc. (Ireland), Johnson & Johnson (U.S.), ERBE Elektromedizin GmbH (Germany), KLS Martin Group (Germany), Olympus Corporation (Japan), and Utah Medical Products, Inc. (U.S.).

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

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