The latest Personalized Medicine Market research report offers a thorough analysis of growth opportunities and development trends until 2030. Using qualitative and quantitative research, it explores market drivers and challenges, providing valuable insights for businesses to make informed decisions and identify growth areas.
Global Personalized Medicine Market is valued approximately USD 514.33 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 6.95% over the forecast period 2022-2029.
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Personalised medicine, is also known as precision medicine, it divides people into distinct groups and then tailors medical decisions, therapies, practises, and/or products to each patient depending on that patient’s expected response or illness risk. The market is majorly driven by rising demand for novel drug discovery, rising number of cancer cases and other diseases. Along with this, growing number of clinical trials is driving the growth for the market over the forecast period 2022-2029. Moreover, rising initiatives by key market players is creating lucrative growth opportunity for the market over the period.
It is also projected that the rising prevalence of rare diseases will accelerate market expansion. The development of numerous individualized medical treatments and therapeutic activities has been made possible by advances in our understanding and correlation of the properties of the human genome. For instance, a research study conducted at the University of California, Irvine in September 2022 offered a unique method for treating inherited retinal diseases (IRDs) by applying precise genome editing that is highly tailored to the needs of an individual. Along with this, there are an increasing number of companion diagnostics that have received FDA approval. For example, Roche received U.S. FDA clearance in October 2020 to expand the use of the Cobas EGFR Mutation Test for the treatment of non-small cell lung cancer. However, the high cost of Personalized Medicine stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Personalized Medicine Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2021, North America had the largest share. This is linked to funding from large pharmaceutical companies and research organisations. All types of ailments are now best treated with personalised medicine, which is why drug discovery and research into any condition now include it. In the region, personalised medicine is advancing for diagnostic purposes. Due to rising demand for personalised diagnostics and novel treatment medications to combat the region’s rising disease prevalence, Asia Pacific is anticipated to have the fastest expanding segment over the course of the projection year.
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Major market players included in this report are:
GE Healthcare
Illumina, Inc.
ASURAGEN, INC.
Abbott
Dako A/S
Exact Sciences Corporation
Danaher Corporation (Cepheid, Inc.)
Decode Genetics, Inc.
QIAGEN
Exagen Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
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The detailed segments and sub-segment of the market are explained below.
By Product:
Personalized Medicine Diagnostics
Personalized Medicine Therapeutics
Personalized Medical Care
Personalized Nutrition & Wellness
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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Some Questions Answered in the Global Personalized Medicine Market Report:
- What is the projected size of the global Personalized Medicine market in 2030, and what growth rate is expected?
- What are the primary drivers of growth in the global Personalized Medicine industry?
- What are the major market trends that are affecting the expansion of the Personalized Medicine market?
- What obstacles must be overcome in order to achieve sustained growth in the Personalized Medicine market?
- What opportunities and threats do vendors in the global Personalized Medicine market face?
- What are the raw materials and manufacturing equipment used in the production of Personalized Medicine Market, and what is the manufacturing process?
- What are the different types and applications of Personalized Medicine Market, and what is the market share of each type and application?
- What factors, such as trends, challenges, and risk factors, are currently shaping the growth of the Personalized Medicine market?
- What factors are driving the growth of the Personalized Medicine market in the top regions worldwide?
- Who are the major players in the global Personalized Medicine market, and what strategies are they employing to succeed?
- What industrial trends, drivers, and challenges are influencing the expansion of the Personalized Medicine market?
- What are the main findings of a five forces analysis of the global Personalized Medicine market?
Here are the key highlights of the report:
- Comprehensive assessments of the market share for Invisible Braces, conducted at both country and regional levels.
- In-depth analysis of the competitive landscape, identifying key trends within the industry.
- Thorough examination of market trends, encompassing product and technology advancements, drivers and barriers, and an analysis based on PORTER’s five forces.
- Strategic recommendations tailored for crucial business segments, leveraging market forecasts.
- Guidance provided for new market entrants, assisting them in navigating the industry landscape.
- Market forecasts encompassing all pertinent segments, sub-segments, and regional markets.
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