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

Genetic diagnostics 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, U.S. Genetic Diagnostics Market, reveals that the predictive medicine, pharmacogenomic, and prenatal and newborn screening will experience significant growth over the next decades.

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.