According to Kalorama Information's 7th Edition, the worldwide molecular diagnostic clinical testing market is expected to reach $10 billion by 2021, growing at a pace of 8% per year. This is twice the rate of the overall in vitro Diagnostics market. Some of the factors driving this growth are
(1) Pharma's interest in cancer companion diagnostics and genetic diseases
(2) Menu expansion, point of care market drivers, new disease threats such as Zika, and rise of superbugs in the infectious disease space
(3) strong correlation demonstrating clinical utility of liquid biopsies such as in non-invasive prenatal testing (NIPT).
Some of the trends to watch in 2017 in the IVD space include the entry of china and into china, penetration of laboratory developed tests into Europe, and acquisition of emerging technologies by IVD companies.
Recent advances in genomics are driving the cost of DNA sequencing down and giving rise to a new phenomenon focused on consumer genomics. Pharmaceutical companies are using CRISPR, the genome editor to correct defects in RNA based diseases and embryos. Use of artificial intelligence in identification of drug targets and big data in the analysis of complex genomic data to correlate diseases with cures are becoming more common place today. All these drivers are expected to not only change how healthcare is managed, but will eventually lead to lower costs.
Top Five Molecular Diagnostics Companies:
|Company||Molecular 2016 Revenue