In the hoopla that followed the sequencing of the human genome in 2000, much of the excitement centered on the promise of miracle cures molecularly tailored to each individual. That kind of medicine is still no more than a promise. But gene-based health care is here and now in another form: molecular diagnostics. Diagnostics have long been the poor relation of higher-profile therapeutics in the health care realm. They account for just 4% of total health care spending and typically have had lower gross margins than drugs--50% versus 80%. Overall, the $30 billion U.S. clinical diagnostics market is growing at a mere 4% annual clip. More...
