Personalized Medicine Industry is set to experience revolutionary growth in near future


The Latest Comprehensive Industry research study titled, “Personalized Medicine Market by Products, Application - Global Industry Analysis and Forecast To 2022” published by Crystal Market Research

In 2012, the global Personalized Medicine Market was evaluated around USD 806.97 billion and is expected to reach approximately USD 5208.68 billion by 2022 while registering itself at a compound annual growth rate (CAGR) of 12.01% over the forecast period.

Major driving factors of the global Personalized Medicine market are increasing development of whole genome, companion diagnostics, next-generation sequencing technology, and rising retail clinics. Rising healthcare spending levels stimulating the demand for an efficient cancer diagnostic procedure, rising incidence of cancer and growing utilization of amalgamation biomarkers for diagnostics are some factors projected to boost the growth of the global market. Rising implementation of next-generation sequencing by medical practitioners and clinicians for genetic mapping of patients worldwide and increasing support for the personalized drug by regulatory and reimbursement landscape are also expected driving factors for global demand over 2022. Global market growth is also projected to augment via the new drugs introduction that is linked and companion diagnostics, and increasing usage of accurate and extremely sensitive genetic diagnostic method for disease testing as well as risk assessment. The expected rise in advanced DNA diagnostic use along with the decline in implementation price for whole genome sequencing is anticipated to significantly increased rates.

 

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Key Market Players:

•        Quest Diagnostics

•        3G Biotech

•        Laboratory Corporation of America

•        Agendia NV

•        Abbott

•        AsuragenInc

•        CardioDx Inc.

•        Becton Dickinson & Co.

•        Foundation Medicine Inc.

•        Siemens Healthcare Diagnostics Inc.

•        Qiagen Inc.

•        Amgen Inc.

•        GE Healthcare

•        Bristol-Myers Squibb

•        Pfizer Inc.

•        23andMe

•        Sanofi Illumina Inc.

•        Astra Zeneca PLC

•        Roche Holding AG

•        Vertex Pharmaceuticals Inc.

•        American Association for Cancer Research

•        Merck & Co. Inc.

 

The personalized medicine industry comprehends custom-made medical products split into PM therapeutics, PM diagnostics, nutrition & wellness, and PM care. PM diagnostics and therapeutics cover direct-to-consumer diagnostics, genetic testing, esoteric lab tests and services, medical devices and pharmaceutical & genomic medicine. PM therapeutics and diagnostics sections are anticipated to grow at a significant rate over the next few years due to the increasing adoption of DNA/RNA screening for medical treatment and therapy and expansion of next-generation sequencing over the forecast years. Introduction and development of companion diagnostics and linked medicines are also projected to lead towards the global personalized medicine market growth. Nutritional wellness and medical care segments involve health information technology, telemedicine, retail nutrition, diseases management, alternative and complementary medicine. These reported for a considerably large section of the global market revenue in 2014 and are anticipated to maintain the leading market position till 2022, due to excessive usage rates, across the distribution and counter sale, growth, and development of retail clinics and growing complementary medicine adoption. Further integration and implementation of healthcare IT systems and telemedicine with hospital workflow frameworks and operation are also anticipated to boost the demand for the global personalized medicine market during the next few years. Although this industry has key application in oncology currently, it is anticipated that during the forecast years, the market will experience growth in applications section like CNS disorders, psychiatry, and cardiovascular & infectious diseases.

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The global personalized medicine market is segmented as follows:

By Product

  • PM Diagnostics
    • Genetic Testing
    • Direct-to-consumer Diagnostics
    • Esoteric Lab Services
    • Esoteric Lab Tests
  • PM Therapeutics
    • Pharmaceutical
    • Genomic Medicine
    • Medical Devices
  • Personalized Medical Care
    • Telemedicine
    • Healthcare Information Technology
    • Diseases Management
  • Personalized Nutrition & Wellness
    • Retail Nutrition
    • Complementary Medicine
    • Alternative Medicine

 

Table of content:

1.       Introduction

1.1.       Report Description

1.2.       Research Methodology

2.       Executive Summary

2.1.       Key Highlights

3.       Market Overview

3.1.       Introduction

3.2.       Market Dynamics

3.2.1. Drivers

3.2.2. Restraints

3.2.2.1.    Lack of Technologies

3.2.3. Opportunities

4.       Personalized Medicine (PM) Market, By Product

4.1.       Introduction

4.2.       Personalized Medicine (PM) Market Assessment and Forecast, By Product, 2012-2022

4.3.       PM Diagnostics

4.4.       PM Therapeutics

4.5.       Personalized Medical Care

5.       Personalized Medicine (PM) Market, By Region

6.       Company Profiles

 

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About Crystal Market Research:

Crystal Market Research is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.

 

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