LONDON, Feb. 6, 2013 /PRNewswire/ -- The range of potential therapeutic approaches available to treat cancer is expected to expand rapidly during the next decade. Current diagnostic technologies focus on detection and diagnosis of cancer using mainly blood, faeces, urine tests or genetic tests. Testing methods are now gradually moving toward targeted treatment with the help of companion diagnostics, which help track disease progress, enabling patients to be treated with appropriate drugs.
New analysis from Frost & Sullivan (http://www.healthcare.frost.com), Western European In Vitro Cancer Diagnostics Market, finds that the market earned revenues of $736.0 million in 2011 and estimates this to reach $1519.8 million in 2019. The research covers immunoassay, immunohistochemistry, nucleic acid testing (NAT), clinical chemistry and other diagnostic methods.
The growing prevalence of cancer, together with greater patient awareness, will drive test volumes. Despite falling prices, the massive increase in test volumes will keep the market on an upward trajectory.
"The projected launch of new NAT products for cancer diagnosis will result in high growth rates and revenue generation in this segment," notes Frost & Sullivan Senior Research Analyst Divyaa Ravishankar. "NAT products have the ability to determine the predisposition of the disease condition. They address the need for diagnostic tests that aid in the early detection and prevention of cancer."
This is in keeping with the current focus on characterising cancer in an asymptomatic phase or in a predisposition phase. Substantial research is being undertaken in Western Europe to validate the use of biomarkers in cancer detection. Biomarkers and associated techniques are set to play an increasingly important role in the development of oncology therapeutics.
While these are positive signs, consolidation has increased the bargaining power of laboratories, allowing them to squeeze the prices of cancer-related tests. The demand is now for high-capacity, high-volume laboratory solutions, rather than high-value, labour-intensive tests like NAT.
"On the one hand, efforts will have to be made to facilitate the integration of novel NAT technologies with existing laboratory systems," advises Divyaa Ravishankar. "On the other hand, the development of innovative and more accurate tests, paralleled by initiatives at improving patient awareness about these new options, could create a 'pull' effect from patients, which could negate the increasing bargaining power of the centralised lab."
If you are interested in more information on this study, please send an email with your contact details to Anna Zanchi , Corporate Communications, at email@example.com.
Western European In Vitro Cancer Diagnostics Market is part of the Life Sciences Growth Partnership Service programme, which also includes research in the following areas: Western European Genetic Testing and Screening Services Market and Western European In Vitro Diagnostics Market. All research 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, 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.
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 organisation 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?
|SOURCE Frost & Sullivan|
Copyright©2012 PR Newswire.
All rights reserved