Biomarkers and Innovation Drive Global Cancer Diagnostics Sector

The world market for in vitro diagnostic (IVD) tests for cancer is growing at a rate of nearly 11% annually and it could reach nearly US$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.

A new study released by Kalorama Information (New York, NY, USA), an international market research company, reported that 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 tumor growth pathways in the evaluation of patients at risk are creating new opportunities for research development and offer the potential to open new market niches.

IVD developers are also benefiting from the emerging tendency to view cancer as a chronic disease. 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 [are] 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.”


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