Companion Diagnostics Market to Reach USD 15.91 Billion by 2029

The global companion diagnostics market size was valued at USD 6.80 billion in 2021. The market is projected to grow from USD 7.67 billion in 2022 to USD 15.91 billion by 2029, exhibiting a CAGR of 11.0% during the forecast period. This information is provided by Fortune Business Insights, in its report titled, “Companion Diagnostics Market, 2022-2029.” Get Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/sample/companion-diagnostics-market-107097 Driving Factors Rising Cancer Incidence to Accelerate Market Growth The number of cancer patients has significantly increased in recent years. The prevalence of cancer cases is rising, which increases the need for effective CDx assays. Genomic testing provides clinicians with precise information on the treatment protocols and presents a complete picture of patients’ tumors. Sales of CDx products are thus rising as cancer incidence rises. To accommodate the increased demand, additional tests are also being developed to identify certain kinds of mutations. This factor has raised the demand for these tests on a global level and will continue to fuel the companion diagnostics market growth in the near future. COVID-19 Impact Drop in Number of Tests Carried Out during COVID-19 Owing to Decrease in Diagnosis of Cancer Since the outbreak of COVID-19, companion diagnostics have become less necessary. Major market participants also suffered a sizable loss in revenue as a result of the COVID-19 pandemic and other problems such as decline in testing volume. The market’s revenue growth in 2020 was lower than in 2019, declining to 1.5% from 8.5%.To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit:https://www.fortunebusinessinsights.com/companion-diagnostics-market-107097 About Us: Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in. Contact Us: Fortune Business Insights™ Pvt. Ltd. US :+1 424 253 0390 UK : +44 2071 939123 APAC : +91 744 740 1245 Email: [email protected]