Novel Technologies Drive European IVD Cancer Sector

Rising awareness, paralleled by the growing use of cancer screening tests will promote the growth of the future European cancer IVD market.

Emerging technologies such as nucleic acid amplification technology (NAT) and immunohistochemistry testing are competing with traditional testing (e.g., immunoassays) for early detection of cancer.

New analysis from Frost & Sullivan (London, UK) indicated that the European in vitro diagnostics (IVD) market earned revenues of U.S. $623.5 million in 2008 and estimates this to reach $1.5 billion in 2015. The ability to prove the clinical utility and practical use of the tests within a laboratory is one of the essential requirements to be successful in this market.

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. Alliances with pharmaceutic companies will benefit diagnostics and pharmaceutic companies, as well as accelerating the development of innovative tests and targeted drugs.

"Intense research for the development of new cancer therapies is increasing the demand for tests to guide physicians in the selection of appropriate treatments," noted Frost & Sullivan research analyst Gayathry Ramachandran. "Repeated test requests, especially for prostrate specific antigen (PSA) will boost market revenues."

Frost & Sullivan is a Growth Partnership Company, which enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership.

Related Links:
Frost & Sullivan