What Are the Factors Influencing Oncology Companion Diagnostic Market Growth?

The oncology companion diagnostic market may gain substantial growth during the forecast period of 2019-2029 on the back of the progress and developments around cancer drugs. Significant advances in cancer drugs and medicine in the recent years have added extra stars of growth across the oncology companion diagnostic market.

Oncology companion diagnostics are used across a variety of cancer types such as colorectal cancer, breast cancer, prostate cancer, leukemia, non-small cell lung cancer, melanoma, and others. These diagnostics are utilized on a large scale across academic medical centers, hospitals, and pathology/diagnostic laboratories.

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On the basis of product and service, the oncology companion diagnostic market can be segmented into consumables, instruments, service, and software.

Novel Product Launches Bringing Enormous Growth Prospects

The oncology companion diagnostic market may generate promising growth on the basis of the growing influence of new launches. The players in the oncology companion diagnostic market are always in the pursuit of product launches to compete with other players. This aspect brings tremendous growth opportunities for the oncology companion diagnostic market.

Quick FDA Approvals to Invite Promising Growth

Approvals form an important part of the oncology companion diagnostic market. Swift approvals from food regulatory authorities help in accelerating the production process. Hence, this factor brings immense growth prospects for the oncology companion diagnostic market.

North America to Emerge As Champion of Growth

Among all the regions covered under the oncology companion diagnostic market, North America may invite exponential growth for the oncology companion diagnostic market during the assessment period. Funding activities and extensive grants are increasing lately across the region. Hence, this factor may bring phenomenal growth prospects for the oncology companion diagnostic market.

Some well-established players in the oncology companion diagnostic market are Agilent Technologies, Inc., Abbott Laboratories, Thermo Fisher Scientific, Inc., Myriad Genetics, Inc., F. Hoffmann-La Roche Ltd, and Associated Regional and University Pathologists (ARUP), Inc.

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Author: Rohit Bhisey

As Head of Marketing at TMR Research, Rohit brings to the table over a decade of experience in market research and Internet marketing. His dedication, perseverance, and passion for perfection have enabled him to achieve immense success in his field. Rohit is an expert at formulating new business plans and strategies to help boost web traffic. His interests lie in writing news articles on technology,healthcare and business.

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