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Pharmacodiagnostics is defined as pre-treatment testing performed to determine whether a patient is expected to respond to a given therapy. Pharmacodiagnostics is also known as predictive test used for the implementation of personalized medicine. The process is essential to manage health care costs and improve patient care by targeting the treatments toward individuals more likely to benefit from the specific therapies. The pharmacodiagnostics market is growing rapidly driven by increase in demand for and recognition of personalized medicine. Pharmacodiagnostic tests are majorly involved in the treatment of certain investigational cancer drug candidates which are under pipeline of major market players.

Increase in prevalence of cancer and infectious diseases, extensive pipeline of cancer and other drugs, and demand for new and effective treatment methods for fighting against diseases are the major factors driving the global pharmacodiagnostics market. According to the World Health Organization (WHO), cancer was the leading cause of death in 2012, accounting for 8.2 million deaths globally. Lung, liver, colorectal, stomach, and breast cancers are responsible for most of the deaths each year. Statistics also revealed that breast cancer incidence had risen by more than 20% in 2012 over that in 2009, while breast cancer mortality rate increased by 14%. High morbidity and mortality associated with cancer have increased demand for effective cancer treatment and management methods and personalized medicines. Pharmacodiagnostic tests are essential to provide beneficial personalized medicine therapy. This is likely to drive the market.

According to Dako, an Agilent Technology Company, nearly 75% cancer drugs were targeted drugs and the remaining were cytotoxics in 2015. High proportion of targeted drugs and the need to perform pharmacodiagnostics for targeted drugs for effective cancer treatment is expected to propel the pharmacodiagnostics market during the forecast period. The company also estimated that cytotoxic drugs in the next few years will see usage of pharmacodiagnostic testing for better results. For example, pharmacodiagnostics was performed for anthracycline-containing therapy for the treatment of primary breast cancer patients. The pharmacodiagnostic test capability as a rational tool to lead the recognition that every cancer patient is unique and as such treatment should be individualized is the prime reason which will help the pharmacodiagnostics market in its growth.

Growing stem cell research and government support in promoting stem cell research for treating chronic diseases such as cancer and acquired immunodeficiency syndrome are also major factors propelling the global pharmacodiagnostics market during the forecast period. As part of the Seventh Framework Programme for Research and Technological Development, the European Union funded four stem cell projects: HumEn, Neurostemcellrepair, PluriMes, and ThymiStem. Similarly, the Government of India has established a research institute specifically for drug development named Open Source Drug Discovery (OSDD), and invested US$ 12 Mn for OSDD projects from 2008 to 2012. Pharmacodiagnostics plays an important role in developing personalized medicines with the help of stem cell research. Extensive stem cell research coupled with rise in demand for personalized medicine and increased funding from government and market players toward stem cell research are increasing demand for pharmacodiagnostics globally.

The global pharmacodiagnostics market can be segmented based on therapeutics, application, and end-user. In terms of therapeutics, the market can be divided into cancer management, infectious diseases, and others. Cancer management can be sub-segmented into lung cancer, breast cancer, and others. The infectious diseases segment includes human immunodeficiency virus (HIV), hepatitis B virus (HBV), hepatitis C virus (HCV), and others. Based on application, the global pharmacodiagnostics market can be categorized into pharmaceutical, diagnostics, health care, and others. Based on end-user, the market can be classified into pharmaceutical & biotech companies, academic & research institutes, diagnostic centers, and others.

Geographically, the global pharmacodiagnostics market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Major players in the global pharmacodiagnostics market include Abbott Laboratories, Becton, Dickinson and Company, GE Healthcare, Gen-Probe, Inc., Luminex Corporation, Siemens Healthcare Diagnostics, Roche Diagnostics, Ventana Medical Systems, Inc., and PerkinElmer, Inc.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Pharmacodiagnostics Market

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