Market Research Expert

Predictive Diagnostics Market to be Driven by Increasing Demand for Advanced Diagnostic Procedures

Press Release   •   Nov 17, 2016 04:37 EST

In the present technologically advanced world, people need and demand for more advanced i.e. preventive and personalized medicine through predictive diagnostics that offer great promise for the future performance of medicine. The predictive diagnostics market has gained so much of popularity in some of the developed economies of the world and is gaining popularity in the emerging economies of the world as well. The predictive diagnostics require efficient population screening procedures that utilize diagnostic biomarkers of the disease condition, proper anticipation of common human infections, best possible treatment planning and personalized medicine that significantly improves quality of life.

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Predictive diagnostics also offer several other advantages, such as healthcare delivery at reduced costs to a large population, thus help in addressing social and ethical issues that are linked to the access and affordability of health care. Therefore, conventional treatment methods, usual medicine and other areas of medicine would face many issue related questions with the increasing popularity of predictive diagnostics. The world is increasingly adopting predictive diagnostics methodologies in a wide number of applications across geographies, which will add to this market’s growth in future.

The predictive diagnostics market can be classified based on its specific applications into six major categories, which are as follows:

-Cancer Testing
-Predisposition Testing
-Carrier Identification
-Prenatal Diagnosis

The predictive diagnostics market can also be classified on the basis of specific disease diagnosis for which these are majorly used for into six major categories are as follows:

-Alzheimer\'s Disease
-Huntington\'s Disease
-Breast and Ovarian Cancer
-Cystic Fibrosis
-Colorectal Cancer

Some of the major driving factors for the growth of this market are increasing incidences of neurodegenerative and genetic disorders, rising prevalence of different types of cancers, increasing demand for advanced diagnostic procedures and rising awareness and affordability of people globally. Need for early detection of various genetic disorders like cystic fibrosis or neurodegenerative disorders like Alzheimer\'s disease to effectively manage such disorders will further boost the demand for different predictive diagnostic procedures globally. Furthermore, rising awareness levels about the disease and different predictive diagnostic procedures will further boost this market’s growth in future.

Geographically, this market can be classified into four major regions, namely, North America, Europe, Asia Pacific and Rest of the World (RoW). North America held the leadership position in the global predictive diagnostics market followed by Europe. Key driving factors for the growth of this market in the region are high prevalence various genetic and neurodegenerative disorders along with high awareness and affordability levels of the population in the region.

However, Asia Pacific is expected to be the most lucrative market for the predictive diagnostics market and the region is expected to grow at a rapid rate in future. Some of the major driving factors for the rapid growth of this market in the region are rising awareness levels of the population, improving economy, healthcare infrastructure and purchasing power the people of many nations in the region.

Some of the major players that are operating in predictive diagnostics market are Almac Group Ltd., Abbott Laboratories, Inc., BioGenex, Epistem plc, Dako Denmark A/S, Covance, Inc., Genomic Health, Inc., F. Hoffmann-La Roche Ltd., Myriad Genetics, Inc., MDxHEALTH, Inc., Prometheus Laboratories, Precision Therapeutics, Inc., and QIAGEN.

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