The global market for in vitro diagnostic tests for cancer is predicted to reach nearly $8 billion by the end of 2012, according to a study released by Kalorama Information of New York. The study, titled “The Worldwide Market for Cancer Diagnostics, 3rd Edition,” notes that the cancer-testing market is being driven by changes in traditional technologies, by the development of novel biomarkers and by new priorities in the clinic.

In addition, the recent trend to treat cancer as a chronic disease is a boon to in vitro diagnostic test makers, according to the study.