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News

Biomarker innovation drives global IVD cancer test market to $8bn by 2012

Kalorama Information : 12 March, 2008  (Company News)
A new study released by Kalorama Information reports that the world market for in vitro diagnostic (IVD) tests for cancer is growing at nearly 11 percent annually and could reach nearly $8 billion by the end of 2012.
In addition to demographic and epidemiologic shifts, the cancer testing market is being driven by a number of advances in traditional technologies, Biomarker development, and new clinical priorities.

According to the study, ‘The Worldwide Market for Cancer Diagnostics, 3rd Edition’, the increased level of cancer screening, a public health priority as well as a healthcare cost priority, continues to drive some basic testing techniques such as fecal occult blood testing. However, advances in pharmacodiagnostic technologies aimed at refining treatment options and genetic and molecular tests to determine tumour growth pathways in the evaluation of patients at risk are creating exciting opportunities for research development and offer the potential to open new market niches.

In addition to technology, the report notes that the emergence of the new paradigm that views cancer as a chronic disease has also been a boon for IVD developers. With advances in early screening and improved therapeutics, there is more need for cancer management and monitoring tests.

“One of the most exciting aspects of the current cancer diagnostics market is the high level of collaboration we’re seeing among complementary technologies,” noted Shara Rosen, the author of the report. “New products will be made up of a mix of component parts from different platform companies, information technology providers, and reagent companies.”

Kalorama Information’s report ‘The Worldwide Market for Cancer Diagnostics, 3rd Edition’ includes market size and growth forecasts to 2012; market segmentations by cancer type, IVD discipline, and geography; extensive discussions of technology development and penetration; and profiles of over 150 companies active in the segment.
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