ASCO 2014: Oncology Companion Diagnostics Market Poised For Growth
The market for oncology companion diagnostics is poised for significant growth, according to Sagient Research Systems. Reporting from ASCO 2014, Sagient analysts highlight key presentations on companion diagnostics, provide information on oncology diagnostic market trends, and note movement in clinical trials toward more adaptive designs with smaller patient numbers and incorporation of companion diagnostics.
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Companion Diagnostics Come Of Age
The US companion diagnostics sector is predicted to grow from $1.6 billion to $6.2 billion between 2015 and 2021, a CAGR of 25.3%, outpacing the IVD market growth fivefold. This rapid growth will be driven by the development of new targeted pharmaceutical products and moves by the FDA to quickly approve new treatments and diagnostics together.
Myriad Enters Companion Diagnostics Field With An FDA First
Myriad Genetics' BRCA1/2 gene testing service has been approved as a companion diagnostic to AstraZeneca's new ovarian cancer drug, an important step in the company's diversification plan and a significant milestone in FDA's oversight of laboratory-developed tests.
Myriad Seeks To Diversify While Remaining Aggressive On BRCA Testing Market
While the genetics firm is not wavering in its legal effort to protect its BRCA gene testing dominance, it is diversifying in response to inevitable competition, with a focus on a multigene panel and companion diagnostics.