Navigation Links
Personalized Medicine Makes Significant Headway Following the Rapid Evolution of U.S. Molecular Diagnostics Market, Finds Frost & Sullivan
Date:5/5/2009

MOUNTAIN VIEW, Calif., May 5 /PRNewswire/ -- As early diagnosis of cancer is critical for faster cure, longer survival, and better quality of life for patients, better access to diagnostics is the uppermost priority for primary care. Innovative molecular technologies have generated a wave of cancer diagnostics developed by dynamic new market entrants. These efforts will go a long way in addressing the unmet needs in the early diagnosis of cancer.

(Logo: http://www.newscom.com/cgi-bin/prnh/20081117/FSLOGO)

Biomarker development is a major area of focus of the FDA-driven Critical Path Initiative. The biomarker development initiative will streamline the clinical trials process and ensure the development of diagnostics, targeted therapeutics, and relevant dosage regimens. Recent changes initiated by the European Medicines Agency (EMEA) in Europe are expected to have a spillover effect on the U.S. cancer molecular diagnostics (CMD) market and fuel growth in the companion diagnostics segment.

New analysis from Frost & Sullivan (http://www.drugdiscovery.frost.com), U.S. Cancer Molecular Diagnostics Markets, finds that this market earned revenues of over $270.1 million in 2007 and estimates this to reach $1.83 billion by 2014.

If you are interested in a virtual brochure, which provides a brief synopsis of the research and a table of contents, please send an e-mail to Christina Alfaro, Corporate Communications, at christina.alfaro@frost.com, with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country.

"The development of companion diagnostics is a game-changing phenomenon, which will impact the structure and dynamics of the pharmaceutical and biotechnology industry in the near future," advises Frost & Sullivan Senior Analyst Dr. Sudeep Basu. "Companion diagnostics will drive M&A activity and strategic partnerships in this market, in addition to encouraging a systems biology approach in attacking pathways as opposed to single targets."

The National Institute of Health-National Cancer Institute (NIH-NCI) programs, the FDA's Critical Path Initiative, and the availability of advanced tools have also speeded up market momentum. The Oncology Biomarkers Qualification Initiative (OBQI) program marshals public and private support to collaborate and develop the new rules of the game.

Considering the obvious benefits offered by this method and the lack of any deleterious effect observed with the testing, the likelihood of FDA granting approval for this method is high.

The flux in the regulatory environment surrounding the U.S. CMD market poses a major challenge to companies operating in this domain. Frequent adjustments to changing time lines and interim guidelines have proved to be an impediment for new entrants attempting to introduce novel tests to market.

"While FDA approval is no guarantee of market success, it surely helps the process," adds Dr. Basu. "FDA approval is based on a host of factors, and importantly, is an approval of the high levels of clinical relevance of the test, and low levels of risk which stems from the significant clinical studies carried out by the company for validating the diagnostic assay."

Besides adjusting to the ever-changing regulatory environment, participants must skillfully navigate the reimbursement space to ensure that growth continues on an upward trajectory.

A dual-pronged strategy -- bringing products to market through the Clinical Laboratory Improvement Amendments (CLIA) route and gaining early market dominance as well as going through the FDA process -- must be devised to tackle the regulatory and reimbursement barriers and achieve the speedy commercialization of molecular diagnostic tests.

This two-pronged approach will promote overall market visibility. It also ratchets up the awareness quotient among physicians. This serves to increase the overall branding and visibility of the test in the market. In order to interact smoothly with reimbursement agencies and convince them, U.S. CMD companies must accomplish insightful pharmacoeconomic analysis to display the value proposition of CMD.

U.S. Cancer Molecular Diagnostics Markets is part of the Drug Discovery and Clinical Diagnostics Growth Partnership Service program, which also includes research in the following markets: U.S. molecular diagnostics markets for emerging infectious disease tests, U.S. flow cytometry markets, and U.S. reference laboratory markets. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 31 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.

U.S. Cancer Molecular Diagnostics Markets

N39E

    Contact:
    Christina Alfaro
    Corporate Communications - North America
    P: 210.247.3830
    F: 210.348.1003
    E: christina.alfaro@frost.com

   http://www.frost.com/


'/>"/>
SOURCE Frost & Sullivan
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Biodesix Advances the Field of Personalized Medicine With the Launch of VeriStrat(R)
2. Personalized Medicine for Mental Illness on the Horizon
3. Mayo Clinic and Microsoft Deliver a Powerful and Personalized Consumer Solution for Managing Health
4. Ocean Cosmetic Medicine of Santa Monica Has Created Something New: Personalized Boutique Style Aesthetic Treatments
5. Frost & Sullivan Recognizes CRi for Innovations Leading to Personalized Medicine
6. Chicago-area ASBS Bariatric Surgery Center of Excellence Provides Personalized Care Like No Other Weight-Loss Surgery Program
7. Personalized genome sequencing reveals coding error in gene for inherited pancreatic cancer
8. Adena Shoulder Surgeon Blends Innovative Techniques with Personalized Patient Care
9. Investing in personalized medicine will benefit Canada
10. UCLA scientists develop crystal ball for personalized cancer treatment
11. One Million Americans Now Receive Personalized FDA Drug Safety Alerts Through iGuard.org
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/25/2017)... , ... March 25, 2017 , ... Getting earned media ... public relations partner. , All through the year, Garden Media aims to provide ... working with key influencers and pitching client’s key messages to gain coveted ...
(Date:3/24/2017)... ... March 24, 2017 , ... Infectious disease ... hospitals in the United States, it’s a threat that is constantly changing and ... infection prevention and offers strategies for the healthcare community to help decrease the ...
(Date:3/24/2017)... (PRWEB) , ... March 24, 2017 , ... The iaedp ... and other medical professionals caring for those suffering from the full spectrum of disordered ... 800, as eating disorders professionals from nearly all 50 states and several countries converged ...
(Date:3/24/2017)... ... 24, 2017 , ... Northridge dentists, Dr. Michel ... sleep apnea and TMJ at their office. TMJ, or temporomandibular joint disorder, has ... type, is increasingly being treated at dental offices with newly developed procedures and ...
(Date:3/24/2017)... ... March 24, 2017 , ... ... of enhancements, upgrading their training and leads programs. , In February, 2017, Empower ... elite sales agents, Performance Partners is designed to teach how to maximize their ...
Breaking Medicine News(10 mins):
(Date:3/24/2017)... FinancialBuzz.com News Commentary   ... Medical cannabis products around the world are projected to gain popularity. A ... market will reach a value of USD 55.8 billion by 2025. ... growing industry. By the end of 2016, 28 states have now laws ... conservative states like Arkansas and North ...
(Date:3/24/2017)... -- Global Ampoules Market report provides a ... and industry chain structure. The Ampoules market analysis is ... landscape analysis, and major regions, development status. ... Complete ... 10 company profiles and 183 tables and figures is ...
(Date:3/24/2017)... , March 24, 2017  Eli Lilly and ... plans to invest $850 million in its U.S. ... across its U.S. enterprise, including research laboratories, manufacturing ... are being driven by demand for Lilly products, ... medicines in development targeting cancer, pain, diabetes and ...
Breaking Medicine Technology: