Companion Diagnostics Market to Enjoy Advancements in AI, Big Data, NGS and Surpass the Value of 15 billion by 2028
Global companion diagnostics market was valued at USD 4.18 billion in 2020, and market size is expected to reach a value of USD 15.13 billion by 2028, at a CAGR of 12.90% over the forecast period (2022–2028).
The term “companion diagnostic” (CDx) is used to describe in vitro diagnostic devices (IVDs) that are essential for the safe and effective use of certain therapeutic products. A CDx may be used to select patients for therapy, monitor therapy, or predict a patient’s response to therapy. As such, a companion diagnostics market can play a critical role in personalized medicine.
AI and ML News: AI: Continuing the Chase for Brain-Level Efficiency
The first FDA-approved CDx was the HercepTest, which is used to guide treatment with the HER2-targeted cancer therapies Herceptin (trastuzumab) and Tykerb (lapatinib). The HercepTest is a laboratory test that detects the presence of HER2 protein on the surface of tumor cells. Patients whose tumors test positive for HER2 are more likely to benefit from treatment with a HER2-targeted therapy.
Since its approval in 1998, several other CDx tests have been developed and approved by FDA. For example, the Vectra DA Test is used to help guide treatment with immune checkpoint inhibitors, such as Opdivo (nivolumab), Yervoy (ipilimumab), and Keytruda (pembrolses of death worldwide, it is no surprise that there is a great deal of research being devoted to finding new ways to detect and treat the disease in the global companion diagnostics market. One area that has seen significant advancements in recent years is companion diagnostics – tests that can be used to identify which patients are most likely to respond positively to a particular treatment.
Get sample copy of this report:
17 million New Cancer Cases and 10 million Deaths Each Year, World is Crumpling
With cancer being one of the leading causes of death worldwide, it is no surprise that there is a great deal of research being devoted to finding new ways to detect and treat the disease. One area that has seen significant advancements in recent years is companion diagnostics market – tests that can be used to identify which patients are most likely to respond positively to a particular treatment.
While the use of companion diagnostics is still in its early stages, it is already having a positive impact on patient outcomes. In one study, the use of a companion diagnostic test helped researchers identify which patients with advanced non-small cell lung cancer were most likely to benefit from the drug crizotinib (Xalkori). As a result of this study, crizotinib was approved for use in patients with this specific type of lung cancer.
In another study, companion diagnostics were used to determine which patients with metastatic melanoma were most likely to respond positively to the immunotherapy drug pembrolizumab (Keytruda). This study led to the drug being approved for use in this particular group of patients.
While the use of companion diagnostics market is still in its early stages, it is already having a positive impact on patient outcomes. In one study, the use of a companion diagnostic test helped researchers identify which patients with advanced non-small cell lung cancer were most likely to benefit from the drug crizotinib (Xalkori). As a result of this study, crizotinib was approved for use in patients with this specific type of lung cancer.
AI and ML News: AI: Continuing the Chase for Brain-Level Efficiency
Recent Trends in Companion Diagnostics Market
Here are some of the most recent developments that have covered in the recent report published by SkyQuest on companion diagnostics market:
- New tools for early detection of cancer. Companion diagnostics tests can help to identify signs and symptoms of cancer early, when it is easier to treat. This is especially important for cancer patients who may have fewer symptoms early on and may therefore be less likely to receive proper treatment if they are diagnosed at an early stage.
- Interpretation of genetic data. Companion diagnostics tests can help to interpret genetic data that is collected from patients. This information can help clinicians to better understand the characteristics of a patient’s disease and to develop specific treatment plans.
- Improved understanding of autism spectrum disorder. Tests in companion diagnostics market can help to identify markers associated with autism spectrum disorder (ASD). This information can help clinicians to better understand ASD and to develop more effective treatments for this condition.
- More accurate diagnosis of diabetes mellitus type 2. Companion diagnostics tests can help to identify signs of diabetes mellitus type 2 (DM2) and to better diagnose this condition.
- Improved understanding of hypertension. Companion diagnostics tests can help to identify the presence of signs of high blood pressure (HTN) and to confirm the diagnosis. The ability to track HTN over time can improve the management of this disease in both early and late stages, which will ultimately improve patient outcomes.
- Support for personalized medicine. Companion diagnostics tests can help physicians to personalize treatment plans for patients with cancer or malignancies, treating only those who need more intense therapy.
- Supporting personal health decisions. Companion diagnostics tests can assist in making better lifestyle choices that could reduce one’s risk for certain diseases, such as heart disease and diabetes.
Increased Attention to Personalized Medication to Flourish Companion Diagnostics Market
Companion diagnostics are tests that help to guide treatment decisions for patients with cancer heart disease and diabetes, among others. They can be used to identify which patients are more likely to respond to a certain type of treatment, and they can also be used to monitor how well a patient is responding to treatment. Companion diagnostics are growing in popularity because they offer a more personalized approach to cancer care.
The use of companion diagnostics in personalized medicine has increased significantly in recent years. In many cases, these tests can help to identify which patients are likely to respond to a particular treatment and which are not. This information is critical in helping to tailor treatment plans to individual patients and improve outcomes.
There are a number of reasons why the use of companion diagnostics market has increased in recent years. First, there has been an increasing focus on personalized medicine and the need to tailor treatment plans to individual patients. Second, advances in technology have made it possible to perform these tests more accurately and with greater precision. Finally, as our understanding of cancer biology has improved, we have been able to develop more targeted therapies that are more likely to be effective in specific subgroups of patients.
The future of personalized medicine will likely see even greater use of companion diagnostics market. As the knowledge continues to expand, the market will be able identify ever-more precise subgroups of patients who are most likely to benefit from a particular therapy. Additionally, as new treatments continue to be developed, companion diagnostic market will play an increasingly important role.
AI ML in Marketing: AI and Big Data Analysis Used to Find Brands’ Emotional Connection
[To share your insights with us, please write to email@example.com]