The global market for Predictive Diagnostics is projected to reach US$2 billion by 2024, driven by developments in pharmacogenomics, next-generation genetic sequencing and the ability to identify disease-causing mutations. Rising prevalence of chronic degenerative diseases such as Multiple Sclerosis; aging population and age-related diseases such as Parkinson's disease, Alzheimer's disease, represent key demographic drivers spurring growth in the market. The massively growing interest in personalized medicine as the future of therapeutic care will amplify the importance of predictive diagnostics in the coming years. Benefits of predictive diagnostics include ability to proactively preserve health in people with high genetic risk for diseases by initiating early treatment regime and prevention protocols; superior treatment decisions based on the ability to predict progression of disease and likely treatment response; helps physicians understand the severity of a disease; accurate diagnosis and prescription of the most effective treatment plan; allows easy disease risk profiling and evaluate risk of disease transmission to the patient‘s offspring. As the most common form of predictive diagnostics, genetic testing is growing in popularity. Types of genetic testing gaining prominence include carrier testing, prenatal genetic testing, pre-implantation genetic testing, newborn screening, whole exome sequencing (WES), and whole genome sequencing (WGS). Other major noteworthy factors include growing significance of predictive diagnostics in breast cancer management; growing preference for point-of-care diagnostic tests; increase in the number of qualified genetic counselors; technology developments that help improve sensitivity, specificity and discriminative power of predictive diagnostic procedures; growing healthcare literacy among the average population and the ensuing increased acceptance of presymptomatic testing. Europe represents the largest market, while Asia-Pacific ranks as the fastest growing market with a CAGR of 15.7% over the analysis period. Developed economies with advanced healthcare infrastructure are early adopters of predictive genetic testing. In developing Asian countries, future growth will be driven by government initiatives for modernizing healthcare infrastructure against a backdrop of growing population with complex healthcare needs and a robustly growing medical tourism industry.  

Company and Industry News & Stories
  • Predictive Technology Group Acquires Inception Dx in a Move to Leverage and Accelerate the Commercialization of Diagnostics & Therapeutics from its Unique Development Platforms
  • Epistem Announces the Completion of Management Buyout by Foresight Group from genedrive plc.
  • MDxHealth Enters into Worldwide Licensing Agreement with Philips for Prognostic Prostate Cancer Biomarker, InformMDx(TM)
  • FDA Authorizes First Direct-to-Consumer Genetic Test from 23andMe for Breast, Ovarian and Prostate Cancer
  • Proteomics International Partners with PrismHealthDx for Launching PromarkerD Predictive Test for Diabetic Kidney Disease in the U.S.

Product Definition & Scope
  • Predictive diagnostics refer to a series of genetic tests that determine an individual’s susceptibility to diseases, individual response to specific therapies or interventions, and the outcome of diseases. Predictive testing involves identifying the presence or inheritance of any faulty gene among the other members of the family. Predictive testing is done to identify cancer, Tay-Sachs disease, cystic fibrosis, Lou Gehrig's disease, Huntington's disease, and even Alzheimer's disease. Currently, predictive testing is made available to identify only a limited number of such diseases. Owing to the increasing incidence of cancer cases, genetic testing, particularly for breast cancer and colorectal cancer, is expected to register the highest growth in the near future. With continual developments made in the field of genetic testing, development of tests to identify various other diseases arising due to gene mutations is expected. Predictive diagnostics are also beneficial in examining the gene composition and interaction in diseased tissue/cells to understand and determine progress of the disease as well as the response to treatment.

Timeline for Analysis
  • Market Estimates and Forecasts for 2016-2024
  • Historic Review 2011-2015

Geographic Markets Analyzed
  • US, Canada, Japan, Europe (France, Germany, Italy, UK, and Rest of Europe), Asia-Pacific, and Rest of World

Major Players
  • Myriad Genetics, Inc.
  • Ambry Genetics Corporation
  • OPKO Health, Inc.
  • Abbott Molecular
  • Almac Group Ltd.
  • F. Hoffmann-La Roche Ltd.
  • Prometheus Laboratories Inc.

How Can You Benefit?
This research project broadly covers analysis of all market trends, drivers, challenges and other macro market scenarios you need to know to improve your strategic planning and remain informed and competitive. The study also provides reliable ready facts and exclusive statistical data insights in addition to expert and highly accurate market size forecasts and projections to help you identify new markets and opportunities for revenue growth and sustainability. The extensive reportage of industry, company and product news and stories together with coverage of all major and niche players provided in the report helps you build a 360 degree perspective on your markets and gain unsurpassed insights needed to devise plans and strategies to maximize business growth.