New Technologies Drive Change in the Molecular Diagnostics Industry
The molecular diagnostics industry is going through a flash point, with valuations being determined by Wall Street as new technologies are reshaping the landscape of the industry. The worldwide market for molecular testing was $3.7 billion in 2007 and is projected to hit $6.2 billion this year, demonstrating the tremendous annual growth as the health care space demands new diagnostic tools to improve outcomes and more efficiently detect and monitor diseases. A few companies — such as TrovaGene (NASDAQ:TROV), Exact Sciences Corp. (NASDAQ:EXAS), and Aethlon Medical Inc’s (OTCBB:AEMD) Exosome Sciences – are emerging with less invasive procedures that can open the door to new markets in molecular diagnostics and fill this area of great unmet medical need.
In short, it is all about biomarkers, measured genetic characteristics that may be used as an indicator of some biological state or condition. Each company is developing technologies that leverage proven biomarkers for different diseases, but employing a unique pathway to quantify the biomarker and what it means for the patient.
TrovaGene is focused on utilizing urine samples as the basis of its proprietary cell-free nucleic acid (cf-NA) technologies to develop tests for screening, detection, and monitoring of cancer, organ transplantation, infectious disease, and prenatal genetic testing. This month, the company made available its cell-free BRAF test, the first urine test for cancer mutation monitoring, at its Clinical Laboratory Improvement Amendments lab in San Diego, California. BRAF mutations are common in several types of cancer, particularly melanoma.