PR: Scientia Finds Rapid Growth of Molecular Diagnostics (MDX) Promises Better Care, Lower Costs & Pharma Industry Changes
Review determines traditional pharmaceutical players are slow to innovate; advises on increasing government and regulatory oversight; future of personalized medicine.
The rapidly-growing new field of molecular diagnostics (MDx) ?in which doctors use genetically based tests in diagnosing and treating illnesses–is addressing critical unmet needs in healthcare and creating major changes in the competitive landscape, according to a global industry review Scientia Advisors released today.
With a projected combined annual growth rate of 15% through 2013, new technologies allowing for rapid testing results are driving much of growth in-vitro diagnostics, according to Harry Glorikian, Scientia Advisors managing partner. Currently, the greatest growth is in tests to assess critical care infectious disease and cancer, and to measure the efficacy of treatment. ?MDx growth will raise revenues in the in-vitro diagnostics industries,? Glorikian said. ?Ultimately, MDx will enhance care, cut health care costs, and make personalized medicine a worldwide reality.?
In the review, Scientia points out that:
- While most Mdx revenue is currently generated in the US and Europe, the most rapid growth will be in the developing world
- Certain new technologies are leading to greater MDx adoption in small and mid-sized hospitals [question:US? Europe? Asia?]
- Most traditional pharmaceutical companies are ?behind? in adapting to high-growth diagnostics segments
While MDx can be highly profitable, companies must be cognizant that, with increasing insurance reimbursement for MDx, government oversight of the field is likely to increase.
The review is available for download at no charge at www.scientiaadv.com.
Scientia Advisors is a global management consulting firm specializing in growth strategies for major and emerging companies in health care, life sciences, biotechnology and nutrition.