According to Coherent Market Insights, the global companion diagnostic market is estimated to be valued at US$ 3,481.2 million in 2020 and is expected to exhibit a CAGR of 19.5% over the forecast period (2020-2027).
Key Trends and Analysis of the Global Companion Diagnostic Market:
In the global companion diagnostic market, there is increasing alliance among key players for the establishment of new and advanced companion diagnostic procedures for diagnosis of complex disease conditions such as cancers. For instance, in June 2020, Thermo Fisher Scientific, a leading biotechnological and pharmaceutical company, entered into a strategic partnership with Agios Pharmaceuticals for the development of companion diagnostic CDx used for diagnosis in oncology segment.
Moreover, increasing prevalence of cardiovascular diseases worldwide is also driving the global companion diagnostic market growth. According to World Health Organization report in 2017, cardiovascular diseases are one of the most fatal disease conditions, globally. According to the