North America Oncology Companion Diagnostic Market Size & Outlook
North America oncology companion diagnostic market, 2018-2030 (US$M)
North America oncology companion diagnostic market highlights
- The North America oncology companion diagnostic market generated a revenue of USD 1,929.9 million in 2023.
- The market is expected to grow at a CAGR of 7.2% from 2024 to 2030.
- In terms of segment, product was the largest revenue generating product & service in 2023.
- Service is the most lucrative product & service segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 1,929.9 million |
| Market revenue in 2030 | USD 3,146.6 million |
| Growth rate | 7.2% (CAGR from 2023 to 2030) |
| Largest segment | Product |
| Fastest growing segment | Service |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Product, Service |
| Key market players worldwide | Agilent Technologies Inc, Illumina Inc, Qiagen NV, Thermo Fisher Scientific Inc, Roche, ARUP Laboratories, Abbott Laboratories, Myriad Genetics Inc, BioMerieux SA |
Other key industry trends
- In terms of revenue, North America region accounted for 40.4% of the global oncology companion diagnostic market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,857.1 million by 2030.
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Oncology Companion Diagnostic Market Scope
Oncology Companion Diagnostic Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
North America oncology companion diagnostic market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to oncology companion diagnostic market will help companies and investors design strategic landscapes.
Product was the largest segment with a revenue share of 65.88% in 2023. Horizon Databook has segmented the North America oncology companion diagnostic market based on product, service covering the revenue growth of each sub-segment from 2018 to 2030.
North America dominated the global oncology companion diagnostic market in 2023. The advanced healthcare infrastructure and substantial healthcare expenditure in North America are driving the widespread adoption of diagnostic technologies. In addition, leading research institutions and biotechnology firms are dedicated to developing innovative diagnostic methods.
Along with a robust regulatory framework that ensures timely approval and commercialization of new diagnostic tools, these factors are anticipated to significantly propel the North America oncology companion diagnostic market over the forecast period. The increasing approvals of new companion diagnostic tests are expected to drive market growth in the coming decade.
In October 2023, the U.S. FDA approved RealTime IDH1 Assay companion diagnostic developed by Abbott for Tibsovo (ivosidenib) drug of Servier Pharmaceuticals in patients with rare blood cancer refractory or relapsed myelodysplastic syndrome. The PCR-based test aims to identify individuals with Isocitrate Dehydrogenase-1 (IDH1) mutations who require therapy.
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Target buyers of North America oncology companion diagnostic market databook
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Our clientele includes a mix of oncology companion diagnostic market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the North America oncology companion diagnostic market , including forecasts for subscribers. This continent databook contains high-level insights into North America oncology companion diagnostic market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America oncology companion diagnostics market size, by country, 2018-2030 (US$M)
North America Oncology Companion Diagnostic Market Outlook Share, 2023 & 2030 (US$M)
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