Navigation Links
Development of New Technologies Spurs Molecular Diagnostic Test Volumes in Asia-Pacific, Finds Frost & Sullivan
Date:6/4/2013

KUALA LUMPUR, Malaysia, June 5, 2013 /PRNewswire/ -- The Asia-Pacific molecular diagnostics market is poised for rapid growth owing to the high prevalence of diseases, increase in the aged population, economic development, and the rising need for better healthcare services. Although several challenges related to cost, regulations and reimbursement policies exist, the market offers immense opportunities for molecular diagnostics vendors.

New analysis from Frost & Sullivan (http://www.lifesciences.frost.com), Analysis of the Asia-Pacific Molecular Diagnostics Market, finds that the market earned revenues of more than US$846.5 million in 2012 and estimates this to reach US$2,528.1 million in 2019.

Public awareness on new, cutting-edge technologies and preventive medicine is increasing in several Asia-Pacific countries. Recognition that molecular diagnostics tests are more accurate, cost-effective, and short turnaround time compare to conventional diagnostics has spurred market growth.

"Newer, automated technologies such as microarrays, Real time PCR technology, mass spectrometric proteomic analyses and protein chips have transformed the way physicians detect and diagnose cancers and genetic diseases at an early stage," said Frost & Sullivan Healthcare Industry  Analyst Gulifeiya Abuduxike. "This has also paved the way for personalized medicine, which can identify the predisposition of a patient to a disease based on genetic variants, and target therapy at the right time."

While these advanced, automated and integrated technologies widen the application scope of molecular diagnostics, they also lead to high test costs, which a huge section of patients in Asia-Pacific are unable to afford.

The lack of healthcare insurance and reimbursement schemes for diagnostics, usually not considered as important as drugs, further limits adoption in the region. The shortage of skilled technicians and insufficient infrastructure adds to the challenge.

Therefore, clinicians and patients must be educated on the medical value and benefit of molecular diagnostics as well as the need for early detection and preventive medicine. Governments need to establish reimbursements for molecular tests to boost test volumes as well as to reduce the treatment costs.

"Expanding testing menus and application areas, as well as developing automated instruments through research and development are also crucial," noted Gulifeiya. "Molecular diagnostic companies must look to enhance the accuracy of test results and reduce time consumption."

As focus shifts to oncology testing, pharmacogenomics and the co-development of companion diagnostics will be key business strategies for Asia-Pacific pharmaceutical companies to maximize the cost-effectiveness of cancer drugs.

If you are interested in more information on this research, please send an e-mail to Donna Jeremiah , Corporate Communications, at djeremiah@frost.com, with your full name, company name, job title, telephone number, company e-mail address, company website, city, state and country.

Analysis of the Asia-Pacific Molecular Diagnostics Market is part of the Life Sciences Growth Partnership Service program. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

  • The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
  • The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us:     Start the discussion

Join Us:           Join our community

Subscribe:       Newsletter on "the next big thing"

Register:         Gain access to visionary innovation

Analysis of the Asia-Pacific Molecular Diagnostics Market
P6F6-52

Contact:
Donna Jeremiah
Corporate Communications – Asia Pacific
P: +61 (02) 8247 8927
F: +61 (02) 9252 8066
E: djeremiah@frost.com

Carrie Low
Corporate Communications – Asia Pacific
P: +603 6204 5910
F: +603 6201 7402
E: carrie.low@frost.com

http://www.frost.com

 


'/>"/>
SOURCE Frost & Sullivan
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Goodwin Biotechnology Announces Process Development Sub-Contract for an Anthrax Vaccine
2. NeuroDerm Awarded $1M by The Michael J. Fox Foundation for the Clinical Development of ND0612 for Parkinsons Disease
3. Global Role of Market Research Supports Need for Training and Development Programs
4. QIAGEN Expands Pipeline of Promising New Biomarkers for Development of Personalized Healthcare Companion Diagnostics
5. Cannabis Science Appoints Clinical Development Expert, Dr. Dorothy Bray, as Chief Executive Officer (CEO) and Director, Focusing on CS-TATI-1 and Building Companys Drug Development Pipeline
6. Metabolic Solutions Development Company announces publication of data describing potential for new drugs to maintain pancreatic beta-cells in treating diabetes
7. Cempra Awarded $58 Million Contract to Develop Antibiotic for Pediatric Use and Biodefense by Biomedical Advanced Research and Development Authority (BARDA)
8. Heptares Augments Business Development Capabilities in Japan and Other Asian Territories
9. Asmacure to Present Four Posters on Novel Pulmonary Development Compound ASM-024 at American Thoracic Society 2013 International Conference
10. RuiYi and Genor BioPharma Collaborate on Development in China of RYI-008, a Novel Therapeutic for Autoimmune Diseases and Cancer
11. Cardium Presents First Quarter 2013 Financial Results And Reports On Recent Developments
Post Your Comments:
*Name:
*Comment:
*Email:
(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:
(Date:3/24/2017)... Calif. (PRWEB) , ... March 24, 2017 , ... ... raised over $100,000 for its innovative EcoQube Frame vertical micro-veggies garden on ... instant demand for the product – with nearly 2,000 consumers (and counting) already ...
(Date:3/24/2017)... ... March 24, 2017 , ... Viewers who like to ... critical historical facts, cultural practices, goods, services, and societal issues tend to appreciate and ... into the popular practice of utilizing running events for causes around the world. ...
(Date:3/24/2017)... ... March 24, 2017 , ... “End Time GPS”: a ... will interrelate. “End Time GPS” is the creation of published author, Wesley Gerboth, ... working on military munitions and space-vehicle projects. Now, at age ninety-one, he shares the ...
(Date:3/23/2017)... ... 23, 2017 , ... A recent report from the National Council on Teacher ... NCTQ report suggests, based on a review of GPA and SAT/ACT requirements at 221 ... the U.S. It argues that this higher bar should be set by states, by ...
(Date:3/23/2017)... , ... March 23, 2017 , ... The IoT (Internet ... WiFi connectivity are making a huge impact on businesses and individual consumers alike. ... the IoT will have a value anywhere from $4 trillion to $11 trillion dollars ...
Breaking Medicine News(10 mins):