Rapid Growth of Molecular Diagnostics (MDx) Promises Better Health Care, Lower Costs and Strong Future for Personalized Me

With traditional pharma slow to innovate, a plethora of new players is changing the healthcare landscape

BOSTON & SAN FRANCISCO--(BUSINESS WIRE)-- The rapidly growing field of molecular diagnostics (MDx) is addressing critical unmet needs in healthcare by enabling early disease detection and better disease segmentation, and by predicting relapse and response to therapy, according to a global industry review released today by Scientia Advisors.

The review also found that, with traditional pharmaceutical companies slow to innovate, newer companies focused on MDx are changing the healthcare landscape.

With a projected compound annual growth rate (CAGR) of 15% through 2013, new MDx technologies that allow for rapid testing and command high prices are driving much of the single-digit growth in the in-vitro* diagnostics market, according to Harry Glorikian, Scientia Advisors’ managing partner.

Currently, molecular tests used for oncology and critical care infectious diseases are experiencing the fastest growth among MDx segments.

“Ultimately, MDx will enhance care, cut health care costs and make personalized medicine a worldwide reality,” Glorikian said. “Today, with many traditional pharmaceutical companies slow to innovate an increasing number of new companies are vying for market share.”

Among other major findings:

  • The industry is transitioning away from low-cost, low-margin tests. New, “high-value” MDx tests are changing the health care paradigm by providing critical information to physicians more quickly and accurately than was previously possible.
  • While most MDx revenue is currently generated in the US and Europe, future growth will be most pronounced in the developing world.
  • New, easy-to-use, random access and fast-turnaround-time MDx platforms are enabling widespread adoption of MDx in small and mid-sized hospitals, worldwide.
  • Companies seeking to enter the MDx field must be cognizant that, with the growing impact of MDx,government oversight and regulation will likely increase and reimbursement policies will evolve to reflect added value.

The review, entitled Strategic Review of Molecular Diagnostics: Changing the Traditional Health Care Paradigm, is available for download at no charge at www.scientiaadv.com.

* In vitro tests are carried out in glass tubes or devices outside the body in contrast with in-vivo testing, which is conducted within a living organism.

Scientia Advisors is a global management consulting firm specializing in growth strategies for major and emerging companies in health care, life sciences, biotechnology and nutrition.



CONTACT:

Harris Communications Group
Anita M. Harris, 617-576-0906
[email protected]
or
Scientia Advisors
Anne-Sophie Dankens, 617-299-3022

KEYWORDS:   United States  North America  Massachusetts

INDUSTRY KEYWORDS:   Practice Management  Health  Biotechnology  Genetics  Hospitals  Infectious Diseases  Medical Devices  Oncology  Pharmaceutical  Professional Services  Consulting  General Health

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