Published Date 05-Feb-2017 189 Page Report Global Companion Diagnostics Market: Global Industry Analysis and Opportunity Assessment 20162024 [DATE] [COMPANY NAME] [Company address] Global Companion Diagnostics Market To Surpass US$ 5.0 Billion By 2024 Report Description Companion Diagnostics: Growth Companion for Personalized Medicine Personalized medicine is the new segment in discussion among healthcare experts around the globe. Also, encouragement from the regulatory bodies such as the FDA and EMEA in erms of providing a defined structure for companion diagnostic development is driving research activities in personalized medicine. Diagnosis at molecular level for each individual is of prime importance to identify the target biomarker before deciding the therapy. Companion diagnostic is one such emerging field for target biomarker identification reducing clinical trial cost and time to market the product. Get Free PDF Brochure before buying the exclusive report by CMI: https://www.coherentmarketinsights.com/insight/request-sample/109 Pharmaceutical companies need to constantly innovate and integrate latest technological breakthroughs in order to sustain in the market, given the looming threat of new technologies posing threat to existing product portfolio and research pipeline. Novartis AG focuses on R&D for biomarkers with the help of its partner SomaLogic, Inc., once they begin the process of finalizing the drug candidate. Such pre-work is now part of the routine of drug development, something that was an alien practice till around a decade ago. The U.S. FDA released a draft guideline for companion diagnostics in July 2016, providing a structure for the pharmaceutical companies to co-develop CDx test along with the drug therapies. The global companion diagnostics market was valued at US$ 1,614.5 million in 2015 and is expected to witness a robust CAGR of 12.0% during the forecast period (2016 – 2024). Potential lowering of cost and clinical benefits driving the companion diagnostics market Growth of companion diagnostics relies on the ecosystem of pharmaceuticals industry. A more collaborative approach would benefit payors and providers of healthcare products and services. CDx supports drug developers in reducing development costs, develop highly effective therapeutic product, and improve the time to market by identifying the effectiveness of a drug against particular biomarkers. The payors (patients) benefit from better treatment outcomes and lower morbidity risk. Moreover, with the advent of advanced technologies such as PCR, immunohistochemistry and gene sequencing, accurate diagnosis, and determination of targeted cancer therapy is much easier. Advancements in technology and increasing research on CDx has resulted in increasing approval of drug therapies with diagnostic tests alongside it. As per the Regulatory Affirms Professionals Society (RAPS), the share of drugs and biologics approved alongside a diagnostic test, by the U.S. FDA, increased from 20% in 2014 to 28% in 2015. Ask for FREE Request Customization @ https://www.coherentmarketinsights.com/insight/request-customization/109 Research collaborations to improve the time to market An integrated and more evidence-based approach is driving partnerships in the field of companion diagnostics. According to Wildwood Ventures Ltd., the number of global deal in CDx market has increased from 13 in 2007 to 66 in 2013. Since, developing CDx test along with drug therapy is a capital intensive and complex process, industry players are collaborating to leverage on each other’s expertise. For instance: Invivoscribe Technologies Inc., collaborated with Novartis AG and Astellas Pharma Inc. to develop companion diagnostics for their drugs under pipeline. Invivoscribe also announced a long-term partnership with Thermo Fisher Scientific in January 2017, develop and commercialize IVD assays for Applied Biosystems® 3500 Dx Series Genetic Analyzers. Invivoscribe Technologies Inc. is a global company engaged in providing clonality and biomarker test solutions for oncology and personalized molecular diagnostics. AstraZeneca plc entered into a deal with Abbott Laboratories, Inc. in 2015, to develop a companion diagnostic test for tralokinumab, used for treating severe asthma. Singulex, Inc. entered into a strategic collaboration with QIAGEN N.V. in January 2017 to develop companion diagnostics using Singulex's proprietary Single Molecule Counting (SMC) immunodiagnostic platform Increasing number of research collaborations is expected to improve the time to market of highly effective targeted drug therapies. Browse Press Release : https://www.coherentmarketinsights.com/press-release/companiondiagnostics-market-to-surpass-us-50-billion-by-2024-20 About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. Our client base includes players from across all business verticals in over 150 countries worldwide. We are uniquely positioned to help businesses around the globe deliver practical and lasting results through various recommendations about operational improvements, technologies, emerging market trends and new working methods. We offer both customized and syndicated market research reports that help our clients create visionary growth plans to provide traction to their business. We meticulously study emerging trends across various industries at both the global and regional levels to identify new opportunities for our clientele. Our global team of over 100 research analysts and freelance consultants provide market intelligence from the very molecular country level and also provide a global perspective of the market. Our team is of the most vital cog in our robust machinery that gives us the ability to deliver independent insight relying on our cognitive defusion training module.This allows for an objective and unbiased assessment of the market. 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Companion diagnostic is one such emerging field for target biomarker identification reducing clinical trial cost and time to market the product.
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