Global companion diagnostics market reached $26B last year and growing

Kathy Mahdoubi | | Health Imaging | Molecular Imaging

The market for companion diagnostics was valued at $26 billion in 2013 and is projected to grow at an annual growth rate of 22.9 percent during the next decade, according to a new market research report published in June and announced by Research and Markets.

Approximately 18.5 percent of new molecular entities (NMEs) were FDA approved with a biomarker that could be used in companion diagnostics in 2013. More than 10 million tests using companion diagnostics are expected to be ordered between 2014 and 2024, according to the report.

More than 75 biomarker drugs are in development based on at least 90 collaborations between biomedical, imaging and pharmaceutical companies.

A few companion diagnostic start-ups are sparking interest from pharmaceutical companies, including Nodality and Epic Sciences. The latter has already signed six deals with top pharmaceutical companies to develop oncologic companion drugs.

Major biomarkers in developing drugs were listed as EGFR, KRAS, ALK, HER2 and BRAF. Notable applications included metastatic non-small cell lung cancer, metastatic colorectal cancer, breast cancer and melanoma.

Kathy Mahdoubi

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