This case will help you understand:
That the diagnostic market is growing but is still only 6 per cent the size of the pharmaceutical industry.
How the diagnostic market is complex and fragmented.
The cost of developing a test.
The ten largest diagnostic companies have a combined market share of around 80 per cent. Molecular diagnostics make up about 16 per cent of the total.
In vitro diagnostics is a global industry worth almost $60bn and estimated to grow by 7 per cent a year.
Current estimates suggest that more than 50 per cent of future therapy pipelines will be biomarker-enabled.
Understand the overall diagnostics market and how it works.
Map out the Dx costs and profit chain relevant to your test.