"New developments in NGS and proteomics are allowing measurement of multiple biomarkers in blood and other body fluids with increased sensitivity and specificity for use in screening and management for each cancer type," said Transformational Health Industry Analyst Divyaa Ravishankar. "Another prominent trend is the heavy investment of pharmaceutical companies into liquid biopsy startup companies to develop companion diagnostics products. Insurance companies are motivating preventive medicine with cancer screening included in wellness programs offered through employer insurance to prevent more expensive chronic disease."
US Oncology Diagnostics Market, Forecast to 2021, recent research from Frost & Sullivan's Life Sciences Growth Partnership Service program, examines the U.S. oncology diagnostics market and identifies growth segments, trends driving adoption, and strategic measures taken by market majors such as Abbott, Roche, Siemens Healthineers, Qiagen, Beckman Coulter, Ortho Clinical Diagnostics, Genomic Health and Myriad. Cancer types covered include breast cancer, ovarian cancer, cervical cancer, colorectal cancer, prostate cancer, and lung cancer.
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Developments and trends driving growth in the U.S. oncology diagnostics market include:
- Use of liquid biopsy as a therapy monitoring tool;
- Automation and simplification of next-generation sequencing;
- Mergers, acquisitions, investments and partnerships of liquid biopsy companies with NGS, and proteomics with commercial biomarkers;
- Reimbursement by insurance companies in cancer prevention and screening;
- Shift in care from treatment to screening as population health data is analyzed and interpreted by artificial intelligence algorithms;
- Regulatory developments and remake of LDT landscape is anticipated in 2018 and beyond; and
- Adoption of digital pathology.
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US Oncology Diagnostics Market, Forecast to 2021K165-55
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