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Predictive Medicine, Pharmacogenomic Testing, and Prenatal Genetic Screening Support Growth of the Genetic Diagnostics Market

Posted on: Wednesday, 26 October 2005, 09:01 CDT

PALO ALTO, Calif., Oct. 26 /PRNewswire/ -- Genetic diagnostics, which is the application of genetic tests for the clinical setting, is allowing for improvements in modern day medical treatment. The move towards personalized medicine, clinicians' need for more information, and prevention-oriented healthcare are all opening up numerous market opportunities for genetic diagnostics.

New analysis from Frost & Sullivan, (http://www.pharma.frost.com/ ) U.S. Genetic Diagnostics Market, reveals that the predictive medicine, pharmacogenomic, and prenatal and newborn screening will experience significant growth over the next decades.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the latest analysis of the U.S. Genetic Diagnostics Market, then send an e-mail to Melina Trevino - Corporate Communications at melina.trevino@frost.com with the following information: your full name, company name, title, telephone number, e-mail address, city, state, and country. We will send you the information via email upon receipt of the above information.

Human genome sequencing and increased clinical validation of genotype/phenotype correlation has made it possible to apply genetic testing in the clinical setting. In this context genetic diagnostics is going to play a crucial role in early diagnosis, optimizing patient treatment and mitigating treatment side effects.

"The increase in the number of genetic products and testing volume reinforces the growth of the genetic diagnostics market," says Frost & Sullivan Research Analyst Martin Nejat. "Understanding the clinical utility of genetic tests as they apply to various healthcare segments is imperative for success in this market."

Inherited disease screening that includes prenatal, newborn, and reproductive screening is the largest segment of the genetic diagnostics market. Genetic screening for conditions such as cystic fibrosis, which has high prevalence and mortality rates, will continue to have high market penetration rates.

Cancer diagnostic tests hold the largest share in the pharmacogenomic and predictive medicine market segments. Moreover, oncologists across the United States are willing to invest in high-value tests given the adverse reactions caused by cancer drugs combined with the high mortality rates for the diseases.

"In order to gain share in some of the fastest growing segments, manufacturers must consistently reiterate the fact that the benefits of genetic testing outweigh the high costs," explains Nejat. "For instance, genetic diagnostics tests are more specific, sensitive, and in the long run allow the healthcare practitioners to reduce cost while increasing patient outcomes."

Despite its unique value proposition, clinicians are still skeptical about genetic diagnostics due to the challenges surrounding reimbursement, regulation, privacy, ethical issues, and clinical validity.

In order to maximize utilization, innovative methods of clinician education with respect to genetic tests must take precedence.

"Highlighting information regarding the application and interpretation of pharmacogenomic testing through presentations or workshops at medical conferences could be a valuable method to create a better-informed medical community and spur demand for genetic diagnostics," concludes Nejat.

U.S. Genetic Diagnostics Market, part of the clinical diagnostics subscription, analyzes the growing U.S. genetic diagnostics market across three main clinical applications: pharmacogenomic testing, disease screening, and predictive medicine. It discusses the various market trends and opportunities while providing in-depth analysis of market share, revenue forecasts, and market drivers and restraints. Strategic recommendations enable participants to target those segments with greatest revenue generation potential. Interviews are available to the press.

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit http://www.frost.com/ .

U.S. Genetic Diagnostics Market F463 Contact: Melina Trevino Corporate Communications - North America P: 210.247.2440 F: 210.348.1003 E: melina.trevino@frost.com Radhika Theodore Corporate Communications - Europe T) +91 44 52044668 F) +91 44 24314264 E) rmtheodore@frost.com Donna Jeremiah Corporate Communications - Asia Pacific P: +603 6304 5832 F: +603 6201 7402 E: djeremiah@frost.com http://www.frost.com/

Keywords in this release: genetic diagnostics, U.S., genotype/phenotype correlation, predictive medicine, predisposition and diagnostic testing, inherited disease screening, prenatal, newborn, reproductive screening, cystic fibrosis, cancer diagnostic tests, pharmacogenomic testing, clinicians, research, information, market, trends, technology, service, forecast, market share

Frost & Sullivan

CONTACT: Melina Trevino, Corporate Communications - North America,+1-210-247-2440, or fax, +1-210-348-1003, or melina.trevino@frost.com , orRadhika Theodore, Corporate Communications - Europe, +91-44-52044668, or fax,+91-44-24314264, or rmtheodore@frost.com , or Donna Jeremiah, CorporateCommunications - Asia Pacific, +603-6304-5832, or fax, +603-6201-7402, ordjeremiah@frost.com , all of Frost & Sullivan

Web site: http://www.frost.com/http://www.pharma.frost.com/

Source: PRNewswire

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