Companion Diagnostics for Oncology Market Trends and Market Set For Rapid Growth with Great CAGR by
A companion diagnostic is an in vitro diagnostic medical kit. Through this test, healthcare professionals can determine whether a particular therapeutic product is effective for the patient or possess any serious side effects or risks. The key factors driving the market growth are increasing R&D and drug-diagnostic co-development, growing preference for personalized medicine, increasing global incidence of cancer, and increasing product approvals by major players. However, the lack of reimbursement in developing regions may hamper the market growth. The entry of market players in emerging economies creates growth opportunities for the companion diagnostics for the oncology market.
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