Pharmacodiagnostics Market Current and Projected industry size in terms of volume and value 2017-2025

Pharmacodiagnostics is defined as pre-treatment testing performed to determine whether a patient is expected to respond to a given therapy. Pharmacodiagnostics is also known as predictive test used for the implementation of personalized medicine. The process is essential to manage health care costs and improve patient care by targeting the treatments toward individuals more likely to benefit from the specific therapies. The pharmacodiagnostics market is growing rapidly driven by increase in demand for and recognition of personalized medicine. Pharmacodiagnostic tests are majorly involved in the treatment of certain investigational cancer drug candidates which are under pipeline of major market players.

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Increase in prevalence of cancer and infectious diseases, extensive pipeline of cancer and other drugs, and demand for new and effective treatment methods for fighting against diseases are the major factors driving the global pharmacodiagnostics market. According to the World Health Organization (WHO), cancer was the leading cause of death in 2012, accounting for 8.2 million deaths globally. Lung, liver, colorectal, stomach, and breast cancers are responsible for most of the deaths each year. Statistics also revealed that breast cancer incidence had risen by more than 20% in 2012 over that in 2009, while breast cancer mortality rate increased by 14%. High morbidity and mortality associated with cancer have increased demand for effective cancer treatment and management methods and personalized medicines. Pharmacodiagnostic tests are essential to provide beneficial personalized medicine therapy. This is likely to drive the market.

According to Dako, an Agilent Technology Company, nearly 75% cancer drugs were targeted drugs and the remaining were cytotoxics in 2015. High proportion of targeted drugs and the need to perform pharmacodiagnostics for targeted drugs for effective cancer treatment is expected to propel the pharmacodiagnostics market during the forecast period. The company also estimated that cytotoxic drugs in the next few years will see usage of pharmacodiagnostic testing for better results. For example, pharmacodiagnostics was performed for anthracycline-containing therapy for the treatment of primary breast cancer patients. The pharmacodiagnostic test capability as a rational tool to lead the recognition that every cancer patient is unique and as such treatment should be individualized is the prime reason which will help the pharmacodiagnostics market in its growth.

Growing stem cell research and government support in promoting stem cell research for treating chronic diseases such as cancer and acquired immunodeficiency syndrome are also major factors propelling the global pharmacodiagnostics market during the forecast period. As part of the Seventh Framework Programme for Research and Technological Development, the European Union funded four stem cell projects: HumEn, Neurostemcellrepair, PluriMes, and ThymiStem. Similarly, the Government of India has established a research institute specifically for drug development named Open Source Drug Discovery (OSDD), and invested US$ 12 Mn for OSDD projects from 2008 to 2012. Pharmacodiagnostics plays an important role in developing personalized medicines with the help of stem cell research. Extensive stem cell research coupled with rise in demand for personalized medicine and increased funding from government and market players toward stem cell research are increasing demand for pharmacodiagnostics globally.

The global pharmacodiagnostics market can be segmented based on therapeutics, application, and end-user. In terms of therapeutics, the market can be divided into cancer management, infectious diseases, and others. Cancer management can be sub-segmented into lung cancer, breast cancer, and others. The infectious diseases segment includes human immunodeficiency virus (HIV), hepatitis B virus (HBV), hepatitis C virus (HCV), and others. Based on application, the global pharmacodiagnostics market can be categorized into pharmaceutical, diagnostics, health care, and others. Based on end-user, the market can be classified into pharmaceutical & biotech companies, academic & research institutes, diagnostic centers, and others.

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Geographically, the global pharmacodiagnostics market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Major players in the global pharmacodiagnostics market include Abbott Laboratories, Becton, Dickinson and Company, GE Healthcare, Gen-Probe, Inc., Luminex Corporation, Siemens Healthcare Diagnostics, Roche Diagnostics, Ventana Medical Systems, Inc., and PerkinElmer, Inc.

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