Personalised medicine diagnostics market to increase at a CAGR of 4.4%

Press release   •   Aug 29, 2013 11:15 BST

The personalised medicine diagnostics market has been forecast to increase at a compound annual growth rate (CAGR) of 4.43% through 2016, driven by the increasing demand for personalised medicine for treating cancer, and the increase in the number of industrial activities.

One of the main trends witnessed in the personalised medicine diagnostics market is the development of innovative tools and technologies. For instance, AssureRx Health Inc. launched GeneSightRx ADHD in May 2012, a personalised medicine test for the growing number of children and adults diagnosed with ADHD.

Moreover, Bristol-Myers Squibb Co. collaborated with MMRF in December 2012 for advanced personalised medicine for multiple Myeloma. Alacris Theranostics GmbH entered into an agreement with GlaxoSmithKline plc in November 2012 to use ModCell system for early stage cancer research.

Furthermore, AltheaDx Inc. launched FLT3 Mutation Assay in October 2012. Agendia N.V. launched ColoPrint microarray-based 18-gene expression signature in June 2012 to predict the risk of distant recurrence for stage II colon cancer patients. The European Medicines Agency approved Zelboraf, manufactured by F. Hoffmann-La Roche Ltd., in December 2011.

Personalised medicine is a medical model that proposes the customization of healthcare - with medical decisions, practices, and/or products being tailored to the individual patient. The use of genetic information has played a major role in certain aspects of personalised medicine, and the term was even first coined in the context of genetics.

To distinguish from the sense in which medicine has always been inherently "personal" to each patient, personalised medicine commonly denotes the use of some kind of technology or discovery enabling a level of personalisation not previously feasible or practical.

One of the main challenges the industry faces is the low awareness regarding personalised medicine diagnostics in developing countries. The majority of patients in developing countries such as India and China are not fully aware of the recent developments in personalised medicine diagnostics. The high cost of personalised medicine diagnostics in certain treatments is another major challenge for the market in these countries.

Key players currently dominating the personalised medicine diagnostics market include Abbott Laboratories, Agilent Technologies Inc., Becton Dickinson and Company, bioMerieux SA, Illumina Inc., and Roche Holding AG.

For more information on the personalised medicine diagnostics market, see the latest research: Personalised Medicine Diagnostics Market

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