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European Cancer IVD Market
Frost & Sullivan, Oct 2008, Pages: 114
This strategic analysis service provides a detailed analysis of the European Cancer IVD market. An in-depth analysis of marketing parameters (revenues, forecasts, geographic trends and market share) coupled with competitive factors and strategies for sustained market prevalence are reported.
Market Overview
Novel Diagnostics to Energise European Cancer IVD Market
Early detection is the key focus of cancer diagnostics. Traditional testing methods such as immunoassay testing are facing fierce competition from evolving segments such as NAT and immunohistochemistry testing. The ability to prove the clinical utility and practical use of the test within a laboratory is one of the essential requirements to be successful in this market. 'Intense research for the development of new cancer therapies is increasing the demand for tests to guide physicians in the selection of appropriate treatments,' notes the analyst of this research. 'Repeated test requests, especially for prostate specific antigen (PSA) will boost market revenues.
The increased prevalence of cancer has resulted in the development of novel technologies that support the effective diagnosis of cancer. Rising awareness, paralleled by the mounting use of cancer screening tests will promote the growth of the European cancer IVD market over the long term. The importance of molecular tests has been elucidated by the success of the human genome project. This has allowed the rapid proliferation of specific nucleic acid tests for the detection of tumour markers and this trend holds strong potential for the growth of the market. 'The human genome project has encouraged cancer genome projects, where high throughput techniques are developed to detect the mutated genes responsible for cancer,' explains the analyst. 'Sizeable funding for cancer disease research programmes is also fuelling the development of cancer diagnostic tests.'
Alliances between Pharma and Diagnostics Companies is the Way Forward
However, most cancer markers are not indicative of the progression of the disease or its incidence. In spite of tremendous strides in knowledge, the details of the biochemical and bio-cellular nature of cancer is still poorly understood. 'The validation of new tests is mandatory and challenges market participants to obtain certain regulatory approvals,' cautions the analyst. 'Validation is a problem in multiplexing assays because the establishment of equivalency is difficult.'
The future of the cancer IVD market lies in the efforts and initiatives taken by governments to encourage R&D into companion diagnostics and predictive assays. This will determine the future of the market. At the same time, alliances with pharmaceutical companies will mutually benefit both diagnostics and pharmaceutical companies, while accelerating the development of innovative tests and targeted drugs.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Clinical chemistry
- Immunoassay
- Immunohistochemistry
- Nucleic acid amplification technology
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