Novel Diagnostics Methods Driving the European Cancer IVD Market towards Early Detection and Prevention
Early detection is the key focus of cancer diagnostics. Traditional testing methods such as immunoassay testing are facing fierce competition from evolving segments such as nucleic acid amplification technology (NAT) and immunohistochemistry testing. The ability to prove the clinical utility and practical use of the test within a laboratory is one of the essential requirements to be successful in this market. A new analysis from Frost & Sullivan, European Cancer IVD Market, finds that the market earned revenues of $623.5 million in 2008 and estimates this to reach $1.5 billion in 2015.
“Intense research for the development of new cancer therapies is increasing the demand for tests to guide physicians in the selection of appropriate treatments,” notes Frost & Sullivan Research Analyst Gayathry Ramachandran. “Repeated test requests, especially for prostrate specific antigen (PSA) will boost market revenues.”
The increased prevalence of cancer has resulted in the development of novel technologies that support the effective diagnosis of cancer. Rising awareness, paralleled by the mounting use of cancer screening tests will promote the growth of the European cancer IVD market over the long term.
The importance of molecular tests has been elucidated by the success of the human genome project. This has allowed the rapid proliferation of specific nucleic acid tests for the detection of tumour markers and this trend holds strong potential for the growth of the market.
“The human genome project has encouraged the cancer genome project, where high throughput techniques are developed to detect the mutated genes responsible for cancer,” explains Ramachandran. “Sizeable funding for cancer disease research programmes is also fuelling the development of cancer diagnostic tests.”
However, most cancer markers are not indicative of the progression of the disease or its incidence. In spite of tremendous strides in knowledge, the details of the biochemical and bio-cellular nature of cancer are still poorly understood.
“The validation of new tests is mandatory and challenges market participants to obtain certain regulatory approvals,” cautions Ramachandran. “Validation is a problem in multiplexing assays because the establishment of equivalency is difficult.”
The future of the cancer IVD market lies in the efforts and initiatives taken by governments to encourage R&D into companion diagnostics and predictive assays. This will determine the future of the market.
At the same time, alliances with pharmaceutical companies will mutually benefit both diagnostics and pharmaceutical companies, while accelerating the development of innovative tests and targeted drugs.
If you are interested in a virtual brochure, which provides manufacturers, end users and other industry participants with an overview of the European cancer in vitro diagnostic (IVD) market, then send an e-mail to Katja Feick, using the 'Contact' button below.
Other news from the department business & finance
Most read news
More news from our other portals
See the theme worlds for related content
Last viewed contents
Opening the cavity floodgates - Biochemists investigate the transport of large proteins through bacterial cell membranes
Watermelon genome decoded - Decoded genome paves way for better watermelons
BIO White Paper Dispels Over-Patenting Myth - Patenting is a Critical Element in Fostering Research and Development
Dow acquires Rohm and Haas, creating world's leading specialty chemicals and advanced materials company - $18.8 billion transaction marks pivotal point in Dow's transformation
Cells stop dividing when this gene kicks into high gear
Targeted test for antibiotic resistance in clinical Enterobacter species - New discovery enables targeted antibiotic therapy
Varian, Inc. Announces Unique Probe Technology Breakthrough for Biological Solids NMR
Breakthrough Discovery Sheds Light on Heart and Muscle Health - Scientists shoot first true-to-life 3D image of the thick filament of mammalian heart muscle
Diagnosis just a breath away with new laser
MIT nanotubes sniff out cancer agents in living cells - Chemical engineers use carbon nanotubes to monitor chemotherapy, detect toxins at the single-molecule level
