(EMAILWIRE.COM, August 08, 2018 ) A Companion Diagnostic is a therapeutic gadget, frequently an in vitro gadget, which gives data that is basic to understand the method to safely use the drug. The test enables the doctor to make sure that the drugs would not cause side effects that outdo the benefit it causes.

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The Europe Companion Diagnostics Market was worth USD 0.91 million in 2018 and estimated to be growing at a CAGR of 20.66%, to reach USD 2.32 million by 2023
The key components driving the development of Companion Diagnostics market incorporate the expanded lung malignancy cases, developing number of hereditary testing, rising requirement for customized pharmaceuticals, and administrative rules that help the market. The disclosure of biomarkers and co-improvement of medication and relating diagnostics are also expected to have a positive impact on the market expansion.

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However, high costs and difficulty in developing companion diagnostics for hereditary conditions and ailments related nervous system are expected to restrict the market growth. Supporting the inducements of all the stakeholders is also a major challenge for the market expansion.
Geographically, the market is categorized into UK, Spain, Germany, France and others. Europe occupies the second largest market share after North America owing to the immense scope of research in this field.
Some of the key players of Europe companion diagnostics market are Abbott Molecular Inc., Roche Molecular Systems Inc., Leica Biosystems Nussloch GmbH, bioMérieux Inc., Dako Inc., Qiagen Ltd., ARUP Laboratories, Myriad Genetics Inc., Biogenex Laboratories Inc., Ventana Medical Systems Inc., Thermo Fisher Scientific Inc. and others.

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