Market Trends of Europe Companion Diagnostics Industry
This section covers the major market trends shaping the Europe Companion Diagnostics Market according to our research experts:
Immunohistochemistry Segment is Estimated to Register Significant Growth over the Forecast Period.
Immunohistochemistry (IHC) is the process of detecting antigens or proteins in tissue cells by leveraging the principle of antibodies binding to specific antigens. Developing rigorous IHC assays for companion diagnostics, especially across the oncology drug pipeline, has been a significant step and priority for many top pharmaceutical companies. Immunohistochemistry offers various advantages, such as ready availability, low cost, and fast turnaround time, among others. Hence, owing to the advantages offered by immunohistochemistry products in oncology are likely to drive segment growth.
According to an article published by BMC in January 2022, the immunohistochemistry (IHC) technique using monoclonal and polyclonal antibodies is considered a useful diagnostic method for detecting pathogen antigens in fixed tissues. It complements the direct diagnosis of infectious diseases by PCR and culture on fresh tissues. The article further stated that in the past few decades, immunohistochemistry had become an indispensable alternative for pathologists due to major technological advances in the technique and the use of specific antibodies against various antigens. The application of monoclonal or polyclonal antibodies to viral, bacterial, or fungal antigens in order to characterize infectious agents in immunohistochemistry has become a routine practice for pathologists in the diagnosis of many infectious diseases. Hence the rising adoption of immunohistochemistry products is poised to drive the segment's growth.
Furthermore, continuous product launches by major players in the market are positively affecting the growth of the segment. For instance, in March 2021, Roche announced the launch of their Discovery Green HRP kit, which is the newest addition to the comprehensive collection of modular-based detection kits that provides multiplexing capabilities of immunohistochemistry and is used to identify and profile biomarkers and cell populations in tissue-based research. The advances in the understanding of cancer biology by using this product can help pave the way for improved cancer testing for patients.
Therefore, the immunohistochemistry segment is expected to witness significant growth over the forecast period due to the abovementioned factors.
United Kingdom is Expected to Hold a Significant Market Share Over the Forecast Period.
The major factors driving the growth of the segment in the United Kingdom are the increasing prevalence of chronic diseases like cancer, diabetes, and dementia, among others, the rising adoption of companion diagnostics, and increasing research and development regarding biomarker discovery.
The rising prevalence of chronic diseases such as cancer, diabetes, and dementia, among others, is expected to increase the adoption of companion diagnostics. For instance, according to an article published by Elsevier in August 2022, before developing type 2 diabetes, many individuals first develop non-diabetic hyperglycemia, which is characterized by elevated blood glucose levels that are below the threshold of type 2 diabetes, but above normal ranges. It is estimated that 11% of individuals with obesity and non-diabetic hyperglycemia will progress to type 2 diabetes annually. A study amongst adults in the United Kingdom has estimated conversion rates of 7% within the first year.
Furthermore, according to the data by Alzheimer's Research UK in January 2022, it is estimated currently around 944,000 people are living with dementia in the United Kingdom, and the number of people with dementia in the country is expected to grow rapidly over the next several decades. Hence, the rising prevalence of chronic diseases like dementia and diabetes in the country is expected to enhance the growth of the market.
Moreover, several developments in the country by research organizations are also expected to enhance market growth. For instance, in February 2022, Professor Henrik Zetterberg (Group Leader at the United Kingdom Dementia Research Institute at University College London) established the United Kingdom Dementia Research Institute Biomarker Factory in the spring of 2021. The high-performance analytical platform was made accessible as a service for other researchers across the United Kingdom and beyond.
Hence, due to the aforementioned factors, the United Kingdom is expected to have significant growth over the forecast period of the study.
