Global personalized medicine diagnostics market: 4.4% CAGR growth forecast between 2012-2016
Global Personalized Medicine Diagnostics Market 2012-2016 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-22 05:04:03
The Global Personalized Medicine Diagnostics market is to grow at a CAGR of 4.43 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing demand for personalized medicine for treating cancer. The Global Personalized Medicine Diagnostics market has also been witnessing an increase in the number of industrial activities. However, the low awareness of personalized medicine diagnostics in developing countries could pose a challenge to the growth of this market.
One of the main trends witnessed in the Global Personalized Medicine Diagnostics market is the development of innovative tools and technologies. For instance, AssureRx Health Inc. launched GeneSightRx ADHD in May 2012, a personalized medicine test for the growing number of children and adults diagnosed with ADHD. Moreover, Bristol-Myers Squibb Co. collaborated with MMRF in December 2012 for advanced personalized medicine for multiple Myeloma. Further, Alacris Theranostics GmbH entered into an agreement with GlaxoSmithKline plc in November 2012 to use ModCell system for early stage cancer research. Furthermore, AltheaDx Inc. launched FLT3 Mutation Assay in October 2012. Agendia N.V. launched ColoPrint microarray-based 18-gene expression signature in June 2012 to predict the risk of distant recurrence for stage II colon cancer patients. The European Medicines Agency approved Zelboraf, manufactured by F. Hoffmann-La Roche Ltd., in December 2011.
One of the main factors driving the market is the increasing demand for personalized medicine diagnostics for treatment of cancer. Hyperthermia is one of the treatments of cancer where the use of personalized medicines and diagnostics is considered depending on a patient´s specific attributes. Methods of treatments such as hyperthermia and radiotherapy have already been proposed.
One of the main challenges is low awareness about personalized medicine diagnostics in developing countries. Most of the patients in developing countries such as India and China are not fully aware of the recent developments in personalized medicine diagnostics. The high cost of personalized medicine diagnostics in certain treatments is another major challenge for the market in these countries.
The key vendors dominating this space include Abbott Laboratories, Agilent Technologies Inc., Becton Dickinson and Company, bioMerieux SA, Illumina Inc., and Roche Holding AG.
The other vendors mentioned in this report are 20/20 GeneSystems Inc., Accumetrics Inc., AdvanDx Inc., Affymetrix Inc., Almac Group Ltd., AltheaDx Inc., Ambry Genetics Corp., Amgen Inc., Arrayit Corp., AssureRx Health Inc., Autogenomics Inc., BG Medicine Inc., Biocare Medical LLC, Biocartis SA, Biocept Inc., BioCurex Inc., Biodesix Inc., Bio-Reference Laboratories Inc., CombiMatrix Corp., Corgenix Medical Corp., DxTerity Diagnostics Inc., EnzoBiochem Inc., Epigenomics AG, Euroimmun AG, GE Healthcare, Genomic Health Inc., Interleukin Genetics Inc., Johnson & Johnson, Knome Inc., Lab21 Ltd., Life Technologies Corp., MDxHealth SA, Myriad Genetics Inc., Nanosphere Inc., Pathway Genomics Corp., Power3 Medical Products Inc., Quest Diagnostics Inc., Response Genetics Inc., Rosetta Genomics Ltd., Sequenom Inc., Trovagene Inc., Vermillion Inc., and Viracor-IBT Laboratories Inc..
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