DIAGNOSTICS CLINICAL RESEARCH: A HOTSPOT OF INNOVATION
WHAT’S DRIVING THE GROWTH?
Several factors explain the growth in companion
diagnostics and oncology diagnostics:
Take a closer look a major hub of growth and innovation: diagnostics clinical research. This edition of Medrio’s infographic series dives into this industry’s two principal areas of development – companion diagnostics and oncology diagnostics – compares their growth with in-vitro diagnostics and in-vivo diagnostics, and explores the drivers behind their advancement in the global clinical trial market.
Growth in Diagnostics Clinical Research
Diagnostics clinical research is thriving. From 2016 to 2017 the number of these trials worldwide grew from 526 to 1,926 – a nearly 400% increase in just a year. Additionally, diagnostics trials are taking a bigger slice of the clinical trials pie. From 2010-2017, worldwide diagnostics trials grew from 0.7% – 3.8%.
It’s important to note that this growth in this industry is centered around two central points. Companion diagnostics is the fastest-growing segment of the worldwide market – taking up 2.9% of all diagnostics in 2017. To put this in perspective, the compound annual growth rate (CAGR) projected for 2018-2023 is 20.1% for companion diagnostics, compared to 4.6% for in-vitro diagnostics and 6% for in-vivo diagnostics. Oncology diagnostics is also forecasted to drive plenty of growth in the future. In 2017, oncology represented 10.2% of the worldwide diagnostics market and is expected to increase to 15.6% by 2023. Many anticipate this expansion will outpace the combined growth of infectious disease, neurology, orthopedic, and autoimmune disease.
What are the factors behind this projected upswing? They’re primarily due to the increased demand for personalized medicine and improved regulatory guidelines. However, there’s also more: rising incidences in global cancer cases and advancements in immunotherapy also play a central role in the developments of companion diagnostics and oncology diagnostics.
Check out this infographic now for crucial insights, and be sure to look at the other infographics in the series to get a fuller picture of the latest trends and developments in the clinical research arena. Medrio’s eClinical platforms have helped numerous diagnostics researchers achieve success and capitalize on these expanding opportunities.