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Tuesday, October 26, 2021

Global Personalised Medicine Market to be Driven by Genomics and Big Data Analytics in the Forecast Period of 2021-2026

 The new report by Expert Market Research titled, ‘Global Personalised Medicine Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global personalized medicine market, assessing the market based on its segments like technology, application, product, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.

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The key highlights of the report include:

Market Overview (2016-2026)

• Historical Market Size (2020): USD 1.8 Trillion
• Forecast CAGR (2021-2026): 11.2%

With the help of electronic health records, genetic testing, big data analytics, and supercomputing, modern physicians and scientists are engaging in truly precise and personalised medicine. Conditions such as cancer, neurodegenerative diseases, and rare genetic conditions can be treated well using the approach of personalised medicine. North America is likely to hold the largest market share for this market owing to increased integration of healthcare IT systems and developed DNA Sequencing technologies in the region. The growing incidence of cancer in the region is increasing the research and development of the impact of personalised medicines for cancer patients. In 2018, the FDA's Center for Drug Evaluation and Research (CDER) authorized 59 novel molecular entities (NMEs), which include new medicines, agents, and therapeutic biologics. The Tailored Medicine Coalition (PMC) designated 25 of the 59 as personalized medications.

Industry Definition and Major Segments

Personalised medicine, also known as precision medicine, refers to the tailoring of medical treatment to the individual characteristics of the patient. This approach is based on each patient’s unique genetic makeup with an aim to overcome the limitations of traditional medicines. Personalised medicine segment involves decisions including, but not limited to, who should get certain kinds of therapies or specific doses of a given therapy.

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On the basis of technology, the market is segmented into:

• Big Data Analytics
• Bioinformatics
• Gene Sequencing
• Drug Discovery
• Companion Diagnostics
• Others

Based on application, the market is divided into:

• Oncology
• Immunology
• Respiratory
• Others

The market is divided into the following, basis product:

• PM Diagnostics

o Genetic Testing
o Direct-to-Consumer (DTC) Diagnostics
o Esoteric Lab Services
o Esoteric Lab Tests

• PM Therapeutics

o Pharmaceuticals
o Genomic Medicine
o Medical Devices

• Personalised Medical Care

o Telemedicine
o Health Information Technology
o Disease Management

• Personalised Nutrition & Wellness

o Retail Nutrition
o Complementary Medicine
o Alternative Medicine

The major regional markets include:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Market Trends

Rapid increase in the number of sequencing methodologies, especially, NGS, which stands for Next Generation Sequencing, driven by the increasing sequencing costs and growing projects in the field of genomics are expected to fuel the surge of personalised medicine market. In addition, increasing incidence of diseases like cancer also demand personalised diagnosis and therapy solutions. This helps in improved outcomes through targeted treatments and reduced side-effects. Progress in research and clinical care combined with favourable government policies possesses great potential for the growth of personalised medicine market and will help improve the quality of treatment and contain health care costs.

Key Market Players

The major players in the market are Illumina Inc., GE Healthcare, Pfizer Inc., Asuragen Incorporated, Novartis AG, Abbott Laboratories, Dako A/S, Exact Science Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

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Media Contact

Company Name: EMR Inc.
Contact Person: Mathew Williams, Business Consultant
Toll Free Number: US +1-415-325-5166 | UK +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
City: Sheridan
State: Wyoming
Country: United States

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.


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