When the human genome project was finally completed in 2003, the idea of testing the specific genetic signature for every human individual became a reality. In addition to the fast development of proteomic approaches and array technology, a new trend in personalized medicine started to evolve as part of the healthcare system. Personalized medicine became more embraced by healthcare providers, the pharmaceutical industry and even insurance companies in an attempt to reduce unnecessary expenses and costs for patient treatments.
Companion diagnostics is part of the personalized medicine revolution. The field has evolved as a continuation of biomarker studies and diagnostic testing. This area of industry is still relatively young, but it will become more complicated and developed due to numerous successful U.S. Food and Drug Administration (FDA)-approved products.
Yesterday the BCC Research report was released, Companion Diagnostics: Technologies and Markets, estimating the the global companion diagnostics market reached $1.1 billion in 2012. The market is expected to grow to $1.2 billion in 2013 and$3.5 billion in 2018 with a compound annual growth rate (CAGR) of 23.9%.
Moreover, the companion diagnostics approach in drug development has reduced the cost of bringing new medicines and therapies to the market. And we have started to see a number of partnerships form in this area.
Over the weekend QIAGEN N.V. ( QGEN ), the Netherlands-based provider of sample and assay technologies, announced a collaboration with Eli Lilly and Co. ( LLY ) to co-develop universal and modular assay panels for the simultaneous analysis of DNA and RNA biomarkers targeting multiple cellular pathways involved in common cancer types. The deal includes the development of tests that would be based on QIAGEN’s multi-modal, multi-analyte Modaplex analysis platform, which can process multiple sample types and biomarkers in a single test.
AbbVie and Myriad have a partnership on the drug veliparib,eoadjuvant treatment of triple negative breast cancer, currently in Phase III.
“Myriad is committed to advancing the science of companion diagnostics and is currently working with approximately 20 different pharmaceutical companies on companion diagnostic programs,” said Mark Capone, president of Myriad Genetic Laboratories. “We believe the future of pharmaceuticals depends on providing therapeutics to patients that are tailored to their individual genetic makeup, and we are investing substantial resources to maintain our global leadership position in this field.”
The full report provides:
• An overview of the market for companion diagnostics, including existing products on the market and detailed analysis of the competitive environments.
• Analyses of market trends, with data from 2012, estimates for 2013, and projections of compound annual growth rates (CAGRs) through 2018.
• Examination of the current state of the industry, new technologies in assay development, and potential novel commercial venues in this area of the healthcare industry.
• Identification of major commercial sectors in companion diagnostics: oncology related products vs. cardiovascular diseases and other segments.
• Comprehensive company profiles of major players, as well as a list of current companies that have new companion diagnostics products in development.