Global Molecular Diagnostics Market is Skyrocketing

The US$18 billion market for both commercial and home-brew molecular diagnostics could skyrocket into a more than $92 billion market by 2016, according to a new report from medical markets research firm Kalorama Information (Rockville, MD, USA).

The addition of new tests in high-volume testing, coupled with the introduction of new instrumentation, which will provide greater ease, speed, and quality in performing these tests, will be primary market drivers.

Growing at an average annual rate of more than 41%, the potential for molecular diagnostics - particularly in the United States, which represents the largest actual and potential market and has the most favorable market conditions for molecular diagnostics entry and marketing - is quite phenomenal. Molecular diagnostics addressing the pharmacogenetic testing segment will make up most of market growth.

Currently the second largest market sector behind diagnostics for infectious diseases, the pharmacogenetic sector is projected to take off from its current $3 plus billion in revenues to more than $60 billion in 2016. Tests for HIV/AIDS and cancer treatments will factor heavily into this market growth.

As each molecular diagnostic moves from a specialized technology of limited use to a mainstream activity in the clinical laboratory once its relevance and role in the treatment of disease are established, the use of these tests should become more of the norm in the global market, noted Kenneth G. Krul, Ph.D., the report's author. Keeping in mind that for each new assay developed, there may be multiple clinical and non-clinical applications provides developers with greater opportunity for growth and return on their investment.




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