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