The area of molecular diagnostics is one of the most exciting fields with a tremendous amount of promise for the future of healthcare. There are strategies and technologies that are being adopted by molecular diagnostic companies that have the potential to cut down on over-treatment and reduce waste, in the practice of healthcare. For this process the companies are employing very creative science to create tests.
It is projected that the annual sale of this part of the in-vitro diagnostics industry would reach $8 billion, with a compound annual growth rate (CAGR) of 9.7 percent till 2018.
The critical information that healthcare providers and patients need to make appropriate medical decisions, is provided by diagnostic testing and in-vitro tests are comprised almost all of the test techniques.
The degree of and the continuum of care – ranging from assessing at-risk patients and screening patients, to detection and diagnosis, to choices of therapy, cure and surveillance is provided by such tests and examinations.
Experts in the field claim that the course of healthcare can be changed, by the rapidly growing field of molecular diagnostics and is considered as one of the most dynamic segment that can lead to disease state therapies.
The presence of DNA, RNA or proteins associated with a specific disease state are detected and measured by molecular diagnostics. Molecular diagnostics helps in discovering the fundamental root cause of the diseases.
Care for each individual patient can be modified by clinicians by personalized medicine based on the results and outcome of molecular diagnostics.
The diagnosis of inherited cardiac disease, such as atrial fibrillation, is often done through molecular genetic testing which helps to guide prognosis and treatment. However, often such tests are limited by costs and availability.
But scientific development and research have created new molecular diagnostics sequencing tests that, compared with current molecular genetic diagnostic tests, are much faster and less expensive.
There are two segments in the market for molecular diagnostics - technique and application.
For the detection and quantification of specific DNA or RNA sequences or proteins, many techniques are used. Some examples include polymerase chain reaction (PCR), in-situ hybridization, chips and micro-arrays and sequencing.
The cost reduction for the healthcare system would be driven by a higher level of accuracy that would prove to be beneficial for all. New molecular diagnostics are being made a reality by entrepreneurs on the cutting edge of the market through the improvement of outcomes and reducing healthcare costs. These coupled with better safety and efficacy would soon provide a good value proposition for savvy medtech firms.
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