Global Companion Diagnostic Tests in Oncology Market Report By Detection Technique (Protein Detection (Immunohistochemistry), DNA Detection (Polymerase Chain Reaction (PCR), Next-generation Sequencing (NGS), In Situ Hybridization), Others), By Biomarker (EGFR, KRAS, HER2, BRAF V600E, Others), By Cancer Type (Breast Cancer, Lung Cancer, Colorectal Cancer, Liver Cancer, Melanoma, Others), By End-user (Hospitals, Specialty Clinics, Diagnostic Labs, Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2023-2032

The global demand for Companion Diagnostic Tests in Oncology Market is presumed to reach the market size of nearly USD 13.99 Billion by 2032 from USD 5.89 Billion in 2023 with a CAGR of 10.09% under the study period 2024 - 2032.

Companion diagnostic tests in oncology are designed to identify specific biomarkers or molecular targets associated with a patient's cancer diagnosis or prognosis. These tests are used with targeted cancer therapies to personalize treatment decisions, predict treatment response, and monitor disease progression. These tests analyze biological samples such as tissue biopsies, blood samples, or circulating tumor DNA to detect genetic mutations, gene amplifications, protein expression levels, or other molecular alterations indicative of cancer subtype, stage, or treatment response. By providing actionable information about a patient's tumor biology, companion diagnostic tests enable oncologists to tailor treatment strategies, optimize therapy selection, and improve patient outcomes in precision oncology practice.

Market Dynamics

The spurring prevalence of cancer worldwide, coupled with advancements in molecular biology and genomics, is driving the development and adoption of companion diagnostic tests for personalized cancer treatment. Additionally, the escalating emphasis on precision medicine and value-based healthcare drives demand for companion diagnostic tests that help optimize treatment outcomes, minimize adverse effects, and reduce healthcare costs. Moreover, regulatory agencies' initiatives to streamline drug approval processes and encourage the development of targeted therapies are driving investment in companion diagnostic test development and commercialization. Furthermore, collaborations and partnerships between pharmaceutical companies, diagnostic laboratories, and research institutions drive innovation and accelerate the development of companion diagnostic tests for emerging biomarkers and therapeutic targets. Additionally, the growing adoption of liquid biopsy and next-generation sequencing (NGS) technologies is expanding the scope and capabilities of companion diagnostic tests, enabling non-invasive and comprehensive profiling of tumors for precision oncology applications. However, the evolving regulatory landscape and reimbursement challenges may challenge the companion diagnostic tests in oncology market growth in the coming years.

The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of companion diagnostic tests in oncology. The growth and trends of companion diagnostic tests in oncology industry provide a holistic approach to this study. 

Market Segmentation

This section of the companion diagnostic tests in oncology market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities. 

By Detection Technique

• Protein Detection (Immunohistochemistry)
• DNA Detection (Polymerase Chain Reaction (Pcr), Next-Generation Sequencing (Ngs), In Situ Hybridization)
• Others

By Biomarker

• EGFR
• KRAS
• HER2
• BRAF V600E
• Others

By Cancer Type

• Breast Cancer
• Lung Cancer
• Colorectal Cancer
• Liver Cancer
• Melanoma
• Others

By End-User

• Hospitals
• Specialty Clinics
• Diagnostic Labs
• Others

Regional Analysis

This section covers the regional outlook, which accentuates current and future demand for the Companion Diagnostic Tests in Oncology market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.

Global Companion Diagnostic Tests in Oncology Market Share by Region (Representative Graph)

The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Companion Diagnostic Tests in Oncology market include Abbott, F. Hoffmann-LA Roche AG, Genomic Health, Inc., Qiagen, Agilent Technologies, Inc., Agendia N.V., bioMérieux SA, Illumina, Inc., Siemens Healthineers, Thermo Fisher Scientific Inc., BioGenex. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.