Hot competition for genetic testing market share is a signal to medical laboratories to ramp up their molecular and genetic testing capabilities
Financial analysts see something of an “old west” style shootout on the horizon for genetic testing in the clinical laboratory testing market. Market leaders in next-generation gene sequencing are prepared to use acquisitions to build dominant shares in a gene testing market that experts say could hit $25 billion by 2022.
Reporters at Bloomberg Businessweek believe that San Diego-based Illumina, Inc. (NASDAQ: ILMN) is girding up to take on industry giant Roche Holding AG (ROG.VX). Both Illumina and Life Technologies Corp. (NASDAQ:LIFE) are buying up smaller players in the gene testing market.
These two market leaders in DNA sequencing equipment have played important roles in revolutionizing genetic testing. Now, they intend to stake out a share of the fast-growing genetic diagnostics market themselves, a recent Businessweek story reported. (more…)
Local hospitals and biotech companies team up with San Jose State University to train more clinical laboratory scientists
Everyone is aware of the shortage of medical technologists (MT) and clinical laboratory scientists that plagues clinical laboratories in almost every region of the United States. It is widely-recognized that current training programs for MTs and CLSs fall short of providing adequate numbers of new workers to meet the demand by medical laboratories.
But it’s a different story in San Jose, California. That’s because San Jose State University (SJS) snagged a $5 million federal grant to fund its Clinical Laboratory Scientist (CLS) Training Program and similar work training programs for healthcare professionals.
In Silicon Valley, biotech and molecular companies “raid” hospital laboratories to hire away MTs and CLSs
Competition for already hard-to-find medical technologists (MT) and clinical laboratory scientists (CLS) is heating up as biomedical and molecular development companies vie with hospitals and medical laboratories for these highly-prized workers. Growth in demand for MTs and CLSs by biotech companies means that clinical laboratories will face stiff competition when recruiting and hiring for these positions.
This competition for hiring MTs and CLSs was recently the topic of a story in the San Francisco Business Times (SFBT). Molecular development companies in the Bay Area want to hire qualified clinical laboratory professionals. The demand pressure from this emerging sector is driving up wages and further stressing the capacity of underfunded job-training programs, according to the article. (more…)
Pathology departments may want to create similar courses to teach medical students how to interpret genetic and genotyping tests
Genetic testing of participating university students was part of a special class that was conducted at the Stanford University School of Medicine last summer. The genetic pathology test was voluntary for the 54 students who participated in the eight-week course that was designed by a student.
The genotyping happened as part of the class, titled “Genetics-210, Genomics and Personalized Medicine.” It was intended to help medical students learn how to interpret genetic tests, and also to help them gain an understanding of ho learning the results of such tests could affect future patients.
Pathologists likely to be surprised to learn that consumers reach objectively to the results of genetic tests
How consumers will react to the results of genetic tests is a subject of constant debate by many health policy wonks. This same debate has its counterpart in the clinical laboratory testing industry, as pathologists and PhDs discuss the pros and cons of allowing consumers to order their own predictive genetic tests and molecular diagnostic assays.
Rapid developments in whole human genome sequencing will soon make it affordable and fast for any consumer to run their entire genome and have the results analyzed and presented to them in a detailed, easy-to-understand manner. In practical terms, it means medical laboratories and anatomic pathology groups will need to be ready to respond to consumer demand for access to these tests.