The recent advances in companion diagnostics facilitate the practice of precision medicine, identifying which patients are most likely to respond favorably to particular therapies. Diagnostic companies, CROs and commercial laboratories have become essential to the pharma, biotech, and medical technology industries by supporting clients’ efforts to test, refine, and market the latest pharmaceuticals and medical devices.
The expansion of companion diagnostics will also have a global component as markets in Europe will evolve in a similar but not identical pattern as the US.
The greatest challenge to future growth in companion diagnostics is aligning the incentives of all stakeholders. A major driver of growth will continue to be the economic incentives for drug developers to pair their products with diagnostics. However, diagnostic companies, CROs and commercial laboratories are caught between the conflicting demands of pharmaceutical companies on one hand and payers/providers on the other.
Since the economics of companion diagnostic deals are rarely disclosed, most if not all diagnostic companies, CROs and commercial laboratories are being paid by their pharma partners to develop the test in a fee-for-service style arrangement or through fixed milestone payments.
This new report from VPGMarketResearch.com provides an insightful analysis of the companion diagnostics market, including trends, drivers, market forecasts through 2027, as well as market shares and strategic profiles for key market players, including:
- Eurofins Scientific
- Icon
- IQVIA
- LabCorp
- Myriad Genetics
- PPD
- Quest Diagnostics
