APAC’s companion diagnostics market to reach $2.84b by 2033

China, India, and Japan lead the adoption.

The Asia-Pacific (APAC) companion diagnostics market is expected to reach $2.84b by 2033, growing at a compound annual growth rate of 14.53% between 2023 and 2033 due to the rise of personalised therapy and chronic diseases.

According to ResearchAndMarkets.com, the companion diagnostics market, which was valued at $733.7m in 2023, is growing due to increased approvals, advanced imaging, and rising cancer rates. This is driving the adoption of precision medicine and companion diagnostics for personalised cancer treatment in APAC.

Aside from the increasing adoption of personalised therapy and the rise in chronic illness, the market is also being driven by technological developments in assay development and biomarker discovery.

“The development of customised treatments is made easier by the discovery of biomarkers linked to a variety of diseases thanks to advancements in genomic and molecular testing technology. Furthermore, encouraging legal frameworks, more funding for research and development by pharmaceutical companies are contributing to the market's expansion,” the report said.

China, India, and Japan are leading the adoption of companion diagnostics.