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Growth in chronic degenerative diseases to aid predictive diagnostics industry

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Predictive Diagnostics: A Global Strategic Business Report - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-04-16 06:27:03
Global market for Predictive Diagnostics is projected to reach US$810.5 million by 2018, driven by next generation genetic sequencing, ageing population, and increasing incidence and prevalence of chronic degenerative diseases.

Predictive diagnostics refer to a series of genetic tests that determine individual susceptibility to diseases, individual response to specific therapies/interventions and the outcome of diseases. Genetic testing has emerged as a lucrative sector in the molecular diagnostics market led by the fact that appropriate and accurate diagnosis is the cornerstone of advanced healthcare. Predictive testing involves identifying the presence or inheritance of faulty gene among members of a family, such as those resulting in Tay-Sachs disease, cystic fibrosis, Lou Gehrig´s disease, Huntington´s disease and Alzheimer´s disease. Predictive diagnostics are also beneficial in examining the gene composition and interaction in diseased tissue/cells to understand and determine progress of the disease as well as the response to treatment.

Though a relatively small market, predictive diagnostics is witnessing steady growth owing to increasing awareness among medical professionals and patients. Proportional to rising life expectancy and mean age, chronic degenerative diseases (CDD) including cardiovascular diseases, neurodegenerative disorders, cancer and autoimmune diseases, have surged globally, translating into demand for predictive testing. The rapidly ageing society in major Western and Eastern economies is therefore a prime driver of demand for Predictive Diagnostics for age-related disorders. Traditionally offered through physicians, genetic testing kits are now being offered directly to the consumer through web-based stores. However, the security and utility of DTC genetic testing kits is being questioned as several companies tend to circumvent third party reimbursement and regulatory issues.

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Mike King
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