'Global companion diagnostics market will be worth $3.45bn by 2015' predicts a visiongain report
A new report by visiongain predicts that the global companion diagnostics market will be worth $3.45bn by 2015. The market generated sales of $1.30bn in 2010, according to Companion Diagnostics: World Market Outlook 2011-2021, published in August.
- (1888PressRelease) September 09, 2011 - Companion diagnostics are diagnostic tests that are linked to a particular drug/therapy. This is a small, emerging market at present, but one of the fastest growing segments in the IVD market. The concept of a drug-diagnostic combination is not new, but has only started to garner interest, with the move of healthcare towards personalised medicine. Companion diagnostics combined with targeted therapeutics are the tools for providing personalised treatment. This market has significant potential for growth with the increasing demand for safer, efficacious drugs.
Rupali Vadhera, healthcare industry analyst, says: "The market for companion diagnostics has enjoyed strong growth in recent years, driven by adoption of marketed products, and also due to the increase in the number of theranostics. Theranostics are companion diagnostic tests, the use of which is essential before the corresponding drug is prescribed. Over the course of the next decade, there will be greater demand for the companion diagnostics, as they improve the safety-efficacy profile of drugs and help to reduce the healthcare costs."
Visiongain's research suggests that the world companion diagnostics market will benefit from developments in biomarker discovery and use in early stages of drug development. These biomarkers for disease can be developed into companion diagnostics for clinical use. Also benefiting the companion diagnostics market will be efforts on the part of the regulatory authorities to develop clearer regulatory guidelines for the co-development of companion diagnostics.
Visiongain predicts that this market will grow steadily to 2021. The future of the companion diagnostics market appears promising, with increases in the demand for high priced specialist therapies and the demand for safer, more-efficacious drugs. This new study adds to visiongain's wide range of analytical reports in healthcare and other industry areas.
To view sample pages of the report please visit http://www.visiongain.com/Report/675/Companion-Diagnostics-World-Market-Outlook-2011-2021
For an exec summary please email Sara Peerun
Email: sara.peerun ( @ ) visiongainglobal dot com
Tel: +44 0207 336 6100
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