Companion Diagnostics Development Services Market, 2020 - 2030

ALHAMBRA, Calif. - May 4, 2020 - PRLog -- It is estimated that around 80% of innovator companies rely on external companion diagnostic developers, mostly owing to the lack of the required in-house expertise. On the other hand, there are numerous contract service providers, offering vast portfolios of services for diagnostic test / assay development. Such companies are known to possess extensive technical knowledge, and experience in working with cutting-edge analytical tools and technologies, such as in situ hybridization (ISH), immunohistochemistry (IHC), next generation sequencing (NGS), polymerase chain reaction (PCR).

Key Market Insights

Over 180 players currently claim to offer services for companion diagnostic development
Of these, nearly 60% provide services for biomarker development, including biomarker selection and identification. Further, more than 25 companies have reported to have the required capabilities to act as one-stop-shops, offering end-to-end services for the development of companion diagnostics.

North America has emerged as the current hub for companion diagnostics services
It is worth noting that over 50% service providers engaged in this domain are based in the aforementioned region. This is followed by players headquartered in Europe, which represents 30% of the overall share. Within Europe, most of the companies (64%) are located in France, Germany and the UK.

By 2030, North America is anticipated to capture over 60% of the market opportunity
In addition, the companion diagnostic services market in Europe is projected to grow at a CAGR of nearly 10%. Overall, the market is estimated to generate revenues of more than USD 800 million by 2030.

The USD 800+ million (by 2030) financial opportunity within the companion diagnostics development services market has been analysed across the following segments:

The report features inputs from eminent industry stakeholders, according to whom the development of companion diagnostics is largely outsourced, owing to the exorbitant costs associated with the setting-up of in-house expertise / capabilities. The report includes detailed transcripts of discussions held with the following experts:

• Anton Iliuk (President and Chief Technology Officer, Tymora Analytica)
• Paul Kortschak (Senior Vice President, Novodiax)
• Pablo Ortiz (Chief Executive officer, OWL Metabolomics)
• Lawrence M. Weiss (Chief Scientific Officer, NeoGenomics Laboratories)

The research includes profiles of key players that offer services for the development of companion diagnostics, featuring an overview of the company, its financial information (if available), information on its companion diagnostics-related service portfolio and an informed future outlook:

For additional details, please visit https://www.rootsanalysis.com/reports/view_document/companion-diagnostics-services/297.html

Gaurav Chaudhary
+1 (415) 800 3415
Gaurav.Chaudhary@rootsanalysis.com (mailto:Gaurav.Chaudhary@rootsanalysis.com?subject=Compani...)