New Report Analyses the Companion Diagnostic Market

PRLog (Press Release) – Jul 02, 2008 – Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report analysing the companion diagnostics markets.

“Companion Diagnostics Markets: A Realistic Assessment of the Opportunities, Challenges, Key Players and Important Trends in Personalized Medicine”, which is available from http://www.reportbuyer.com/go/KAL00122 reports that companion diagnostics, the pairing of a drug with a testing product to identify patients most likely to benefit from the drug, and thus enhancing its efficacy, is seen as an important growth strategy for pharmaceutical companies as well as the diagnostic companies they will partner with.

However, authors of the report believe this market will take longer to realise than many experts predict.

The report shows that companion diagnostics is a pathway to personalised medicine, a key trend in healthcare which is giving the diagnostics field a huge boost in terms of publicity, revenue potential and investment interest. Though drug companies have resisted the idea of tests to target therapeutics, fearing reduced product sales, several factors are contributing to a change in attitude.

It further notes that these include a need for improved clinical trials and the realisation that effective, targeted therapeutics can enjoy higher sales than general-market-focused, trial-and-error therapeutics with higher price-points for improved therapeutic efficacy.

The authors are conservative in its near-term outlook for the companion diagnostics market, estimating it at $27 million in 2007 and growing to five times that size over the next ten years. Currently the market consists of testing that is more 'ad hoc' and 'associated' with therapeutic intervention than actually based on solid molecular data.

“Companion Diagnostics Markets:A Realistic Assessment of the Opportunities, Challenges, Key Players and Important Trends in Personalized Medicine” is available from Report Buyer. For more information go to:  http://www.reportbuyer.com/pharma_healthcare/diagnostics ...

Report Buyer product ID: KAL00122