The report “Personalized Medicine (PM) Market By Product (PM Diagnostics, PM Therapeutics, Personalized Medical Care and Personalized Nutrition & Wellness) – Global Forecast to 2022”, issued by Crystal Market Research, the market has come across substantial development in the recent years and is projected to grow significantly over the forecast period.
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Personalized Medicine (PM) Market by Product - Global Industry Analysis and Forecast to 2022: Industry Overview
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 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.
Global Personalized Medicine (PM) Market: Competitive Analysis
The increasing investment in research and development by the players is triggering competition in the global Personalized Medicine (PM) market.
Market players ruling personalized medicine market are occupied in the progression of these testing methodologies to improve public application rates of genetic therapeutic, personalized tailor-made therapy prescriptions and companion diagnostic tests. Major market players are 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 and Merck & Co. Inc.
The strategic mergers and acquisitions among the players of the global Personalized Medicine (PM) market are leading to the expansion of this market.
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The global personalized medicinemarket 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
By Region: North America: (U.S, Canada & Mexico), Europe: (Germany, France, UK, Italy, Spain & Rest of Europe), Asia-Pacific: (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific) and Rest of the World: (Brazil, South Africa, Saudi Arabia, Turkey, United Arab Emirates & Others)
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Global Personalized Medicine (PM) Market: Regional Analysis
In 2014, North American regional personalized medicine market ruled global demand, due to supportive NIH policies and government funding, rising adoption of clinical practitioners, central consolidation of healthcare IT and EHR systems with hospital operations, and incorporation into clinical trials. Technological advancements of next-generation sequencing ensuing in cost decline of genomic sequencing is too an elevated impact providing factor projected to bestow towards the growth of the market. Though, the Asia-Pacific regional personalized medicine industry is anticipated witness major gains during the forecasted years due to the existence of a considerably large base of unfulfilled industry demand, rising technological progression of the regional medical framework and rising awareness regarding genetic diagnostics, therapeutics, and genomic sequencing.
Key Topics Covered of Global Personalized Medicine (PM) Market:
Chapter 1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research
Chapter 2. Executive Summary
2.1. Key Highlights
Read Premium News from The Open PR of Personalized Medicine (PM) Market at: https://www.openpr.com/news/1260900/Personalized-Medicine-PM-Market-Predict-Long-term-Growth-at-USD-5208-68-Billion-With-12-01-of-CAGR-By-2022-Along-With-Quest-Diagnostics-3G-Biotech-Laboratory-Corporation-of-America-Agendia-NV-Abbott-AsuragenInc-CardioDx-Inc-Becton-Dickinson.html .
Chapter 3. Market Overview
3.1. Introduction
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
3.2.1. Drivers
3.2.1.1. Increasing number of associated diagnostics
3.2.1.2. Rising healthcare spending generating development of effective PM diagnostic & therapeutic
3.2.1.3. Growing prevalence of cancer
3.2.2. Restraints
3.2.2.1. Lack of Technologies
3.2.2.2. Absence of appropriate intellectual property regulations for personalized medical technologies
3.2.3. Opportunities
3.2.3.1. Technological Advancement in Development of Personalized Medicines
Chapter 4. Personalized Medicine (PM) Market, By Product
Chapter 5. Personalized Medicine (PM) Market, By Region
Chapter 6. Company Profiles
…Read Full Table of Contents
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