Abstract
This Frost & Sullivan research service titled European Molecular Diagnostics
Markets provides an overview of the molecular diagnostics markets, along with
revenues in each market segment.
This study also provides a complete analysis of key market drivers,
restraints, and trends. Finally, it provides strategic solutions to the
vendors to gain a competitive advantage in the growing markets.
Market Overview
Advances in Automated Diagnostics Solutions to Improve Adaptability of
Molecular Tests by Clinical Laboratories
The need for early diagnosis of diseases and improved therapeutic treatment is
driving the adoption of molecular diagnostics tests in Europe. Automated and
integrated molecular diagnostic solutions have improved assay performance by
decreasing the complexities involved in molecular tests. Although these
solutions involve a slightly higher cost, the inherent benefits, such as
reduced labour and lower cost per assay are promoting their uptake. With
continued technological advances and expanding applications, molecular
diagnostics is one of the fastest growing areas in the European in-vitro
diagnostics (IVD) market.
"Early diagnosis and technological superiority over immunoassays are the key
factors driving widespread adoption of molecular tests in Europe," notes the
analyst of this research service. "Growing emphasis on improved patient care,
better therapeutic options and population screening programs are boosting the
adoption of molecular diagnostic tests." Despite the lucrative potential of
the market, low awareness levels and high market entry barriers that restrict
the development of novel diagnostic products and technologies are factors
adversely affecting market growth.
Market Success to Rely on Promoting Awareness of Benefits of Molecular Diagnostic Tests
"Several molecular diagnostic assays are novel in the information they provide
to the physician and the patient," states the analyst. "Hence, creating
awareness and educating healthcare providers, as well as patients will become
essential for the success of the assay and its subsequent reimbursement. "In
addition, with technological innovations likely to penetrate the market, IVD
manufacturers will need to communicate the value of their technologies to
healthcare regulators, payers, providers and patients in order to improve
acceptance of molecular diagnostics. Since recommendations by physician and
cancer association groups have a powerful influence on the adoption of
molecular tests, conducting 'physician awareness programs' will assist in
promoting a keen understanding of the latest developments in pharmacogenomics,
cancer diagnosis and screening of infectious diseases.
Overall, the uptake of molecular diagnostic tests is gaining momentum as a
result of the high revenue potential in the infectious disease diagnostics
market. Due to the presence of multinational companies and their dominance,
the infectious disease diagnostics market is expected to offer limited
opportunities to new entrants. Hence, IVD manufacturers would do well to be
aware of the trends in the cancer diagnostics and pharmacogenomic tests
segments, which are currently in their growth phase and offer enormous scope
for market expansion. Given the positive outlook for the market, revenues are
projected to grow from $517.5 million in 2005 to reach $987.5 million by 2012.
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