Experts have been saying for years that molecular diagnostics will transform not only the way prescription drugs are developed and dispensed, but also the entire healthcare delivery system. Their predictions are coming true: the molecular diagnostic market is exploding, with reported value estimated to reach $7 billion by 2011. New biomarkers are continually being discovered, and platforms and testing technologies are advancing.
The number of companies involved in molecular diagnostics has increased exponentially during the past few years, with more than 500 companies having been identified.
Molecular diagnostics has emerged as the fastest-growing segment of the in vitro diagnostics industry, with a compound annual growth rate of 19%, according to a report last year from Piribo. Infectious disease has the biggest market share of 70% but future growth is expected to come from oncology testing, genetic testing, and pharmacogenomics…
Issues Impacting the Molecular Diagnostic Market
Sound Bites From The Field
Gerald McDougall is Partner in Charge of PricewaterhouseCoopers’ Personalized Medicine and Health Sciences Practices. For more information, visit pwc.com/us/en/health-industries, or e-mail email@example.com.
Austin Tanney, Ph.D., is Scientific Liaison Manager, Almac Diagnostics, which is a personalized medicine company whose core expertise is in the provision of genomic-based solutions. For more information, visit almacgroup.com.
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Experts on this topic
Andy Felton. Director of CE Instruments Product Line, Life Technologies Corp., a global biotechnology tools company dedicated to improving the human condition. For more information, visit lifetechnologies.com.
Tadd Lazarus, M.D. Medical Director, Roche Diagnostics, which offers a broad range of diagnostic tests and systems that play a pivotal role in the area of integrated healthcare solutions. For more information, visit roche-diagnostics.us.
Stephen Little, Ph.D. VP, Personalized Healthcare, Qiagen, a global provider of sample and assay technologies. For more information, visit qiagen.com, or e-mail Stephen.Little@qiagen.com.
Michael Nohaile, Ph.D. Global Head, Novartis Molecular Diagnostics, which is developing and commercializing innovative, evidence-driven diagnostic tests to optimize patient outcomes. For more information, visit novartismoleculardiagnostics.com.
Cecilia Schott, Pharm.D. Business Development Director, Personalized Healthcare, AstraZeneca, a global, innovation-driven biopharmaceutical business with a primary focus on prescription medicines. For more information, visit astrazeneca-us.com.
Scott Patterson, Ph.D. Executive Director, Medical Sciences, Amgen Inc., a biotechnology company that discovers, develops, manufactures, and delivers innovative human therapeutics. For more information, visit amgen.com.