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 diagnostic (CD) is an in-vitro diagnostic technique that provides information about therapeutic responses of patient to a specific treatment. Companion diagnostics helpin identification of the patients who would benefit from the treatment using a certain therapeutic product which would result in improved treatment outcomes and decrease expenditure on healthcare. In addition, CD also helps in identifying the patient pool that is most likely to respond to the therapeutic treatment; therefore, rules out therapies that would be ineffective. Additionally, it also saves patients from adverse side effects due to ineffective therapies, leading to reduced cost.
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COVID-19 Impact Analysis:
1) The COVID-19 impact on the Companion Diagnostic (CD) Market is unpredictable and is expected to remain in force till the fourth quarter of 2021.
2) The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and banned import-export of nonessential items for most of 2021. This led to sudden fall in the availability of important raw materials.
3) Moreover, nationwide lockdowns forced manufacturing facilities to partially or completely shut their operations.
4) Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of reliable and innovative drone analytics systems globally.
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Key Benefits for Stakeholders
- This report entails a detailed quantitative analysis along with the current global Companion Diagnostic (CD) Market trends from 2021 to 2028 to identify the prevailing opportunities along with the strategic assessment.
- The Companion Diagnostic (CD) Market forecast is studied from 2021 to 2028.
- The Companion Diagnostic (CD) Market size and estimations are based on a comprehensive analysis of key developments in the endoscopic retrograde cholangiopancreatography industry.
- A qualitative analysis based on innovative products facilitates strategic business planning.
- The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the Companion Diagnostic (CD) Market.
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