Emergency Trends In Clinical Diagnostics Will Helping To Grow Pharmacogenomics Technology Till 2025:Grand View Research,Inc.
The global pharmacogenomics technology (theranostics and companion
diagnostics) market is expected to reach USD 18.3 billion by 2025,
according to a new report by Grand View Research, Inc. Diagnostics is coming to
grips with the wave of pharmacogenomic tests that are followed by new
biological therapy introductions. These tests enable cost-effective treatment
and also add value to the process of drug-development. Advantages associated
with the usage of these tests such as disease risk prediction, patient
stratification, and therapeutic response monitoring over the traditional
methods is anticipated to significant source of progress in this market.
In addition, pharmacogenomics
testing products aid physicians in individualizing and optimization of
patient’s therapeutic regimen. Pharmacogenomics and theranostics are paving the
way for integrated medicine. Rapid evolution in this group of specialized
molecular diagnostic tests are contributing in improvement for assessment of
real-time treatment of disease.
However, presence of challenges
pertaining to early integration of pharmacogenomic based testing into drug
development time lines for gaining the approval simultaneously is anticipated
to impede growth. Proper designing and implementation of clinical trials in
order to identify individual as well as population variations from a given
therapy has become a necessary attribute for the success of theranostics.
Germany pharmacogenomics
technology market by therapeutic area, 2014 - 2025 (USD Million)
Browse full research report on
Pharmacogenomics
Technology Analysis:
Further key findings from the report suggest:
- Oncology is
estimated to account for the largest revenue share owing to the presence
of substantial number of products in this segment
- Furthermore,
precision oncology investigators envision in giving multiple medications,
in varied sorts of combinations, in an effort to squelch a tumor rather
than just temper its growth
- Aforementioned
fact is responsible for the estimated revenue share of cancer in
pharmacogenomics technology market
- Polymerase
Chain Reaction (PCR) was the largest revenue grossing segment of the with
respect to technology for theranostics
- Advantages
associated with the use of the PCR technique makes it current workhorse of
clinical diagnostics
- Moreover,
reproducible and precise results produced with the assays without
sacrificing the sensitivity are responsible for the estimated share
- North
American region dominates the market as a consequence of economic
incentives for drug developers to pair their products with diagnostics.
- Asia Pacific
market is projected to showcase fastest growth over the forecast period as
the companies are engaged in capturing untapped opportunities
- Key players
operating include F Hoffman La Roche, Agilent Technologies, Thermo Fisher
Scientific Inc., GE Healthcare, Pfizer, Qiagen NV, Leica Biosystems
Nussloch GmBH, and Foundation Medicine.
- Diagnostic
companies are positioning themselves to offer theranostic tools by
widening the application of in-vitrodiagnostic technologies to
include more than just disease detection
For
more information: http://www.grandviewresearch.com
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