Companion Testing Sector Increased Significantly in 2013
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By LabMedica International staff writers Posted on 07 Sep 2014 |
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A new report from the healthcare market research firm Kalorama Information (New York, NY, USA) details the growth of the companion diagnostics testing sector. The analysis presented in the report is based on data from a combination of company, government, industry, institutional and private sources. It includes information from literature reviews and discussions with experts in the field, including microbiologists, pathologists, hospital authorities, reimbursement specialists, research scientists, business development managers, and marketing managers.
The global companion diagnostic market is valued at about USD 1.2 billion for 2013. This is an increase of USD 50 million from 2011, indicating a rise of 12.5%.
Kalorama expects even more rapid revenue growth in this area of in vitro diagnostics (IVD) over the next five years, which has become a primary area of focus for developers and many companion diagnostics are now successfully marketed with several of them part of a routine diagnostic and treatment plan. The report provides product analysis for five broad areas of medical companion diagnostics and market information: cancer, cardiovascular and blood, metabolic, infection, and neurological.
Companion diagnostics increase the probability of clinical success by identifying patients with the presence of biomarkers or disease-specific therapeutic targets that can significantly improve outcomes of a medical treatment. It also decreases costs by identifying the patient population that will probably benefit from the therapy, and ruling out therapies not likely to be effective. This is particularly important when considering the cost of new cancer therapies.
Mary Ann Crandall, analyst for Kalorama Information, commented, “There had been a slow market uptake of companion diagnostics because companion tests lacked the US Food and Drug Association (FDA; Silver Spring, MD, USA) approval, which prevented pharmaceutical companies from promoting the diagnostic. But the realization that companion diagnostics can decrease costs by identifying the patient population that will most likely benefit from a therapy and ruling out those therapies not likely to be effective, has made companion diagnostics important to the delivery of care.”
Related Links:
Kalorama Information
US Food and Drug Association
 Analyzer.jpg)
The global companion diagnostic market is valued at about USD 1.2 billion for 2013. This is an increase of USD 50 million from 2011, indicating a rise of 12.5%.
Kalorama expects even more rapid revenue growth in this area of in vitro diagnostics (IVD) over the next five years, which has become a primary area of focus for developers and many companion diagnostics are now successfully marketed with several of them part of a routine diagnostic and treatment plan. The report provides product analysis for five broad areas of medical companion diagnostics and market information: cancer, cardiovascular and blood, metabolic, infection, and neurological.
Companion diagnostics increase the probability of clinical success by identifying patients with the presence of biomarkers or disease-specific therapeutic targets that can significantly improve outcomes of a medical treatment. It also decreases costs by identifying the patient population that will probably benefit from the therapy, and ruling out therapies not likely to be effective. This is particularly important when considering the cost of new cancer therapies.
Mary Ann Crandall, analyst for Kalorama Information, commented, “There had been a slow market uptake of companion diagnostics because companion tests lacked the US Food and Drug Association (FDA; Silver Spring, MD, USA) approval, which prevented pharmaceutical companies from promoting the diagnostic. But the realization that companion diagnostics can decrease costs by identifying the patient population that will most likely benefit from a therapy and ruling out those therapies not likely to be effective, has made companion diagnostics important to the delivery of care.”
Related Links:
Kalorama Information
US Food and Drug Association
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