Pharmacoeconomics: Growth in Cancer Diagnostics Means Market Opportunity

Abstract

Testing for precision diagnostics in cancer is underway in Food and Drug Administration clinical trials. This new technology will outdate current, inaccurate technologies (i.e., mammograms and prostate-specific antigen tests) and become part of routine health screenings. Cost savings translate to bigger profit potential for hospitals and laboratories that conduct the tests. Trends in precision medicine will turn the diagnostics sector from its current moderate value/moderate growth status to one replicating the explosive growth of biotech.