This Personalized Medicine market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Personalized Medicine market.
Personalized medicine are drugs that are based on individual patient or intended patient groups carrying certain biomarkers and are created to cater the requirement of an individual patient based on the response produced by the patient suffering from a particular disease. The personalized medicines are currently in focus due to their effectiveness in cancer patients and patients suffering from rare genetic disorders. The fact that this approach could do away with the “One Size Fits All” approach leads to anticipations regarding higher treatment effectiveness through customization of prevention, prediction and treatments. In this regard, funds worth EUR 1 Bn has been invested by the EU as of 2015, focused on the development of personalized medicine, through its Seventh Framework Program for Research and Technological Innovation. The EU is also known to be coordinating with the member states on Health Technology Assessment for better understanding on cost-benefit-efficiency of including personalized medicines in their respective health systems. Constructive dialogue among global stakeholders could streamline the clinical trial processes and regulations regarding the same over the forthcoming years.
Personalized Medicine Market: Drivers & Restraints
Personalized medicine market is expected to witness rapid growth due to increasing disease incidence and deep focus of creating medicines for cancer patients where effectiveness has been proved to be higher as compared to other therapies. Rapid results & customized effects, lower probability of medication flaws and adverse drug reactions are some of the other factors that could create suitable traction in both R&D and revenue potential for these medicines. Favorable policies of the governments in relation to the personalized medicine will also add incremental opportunity to exploit this market. Recent developments in the pharmacogenomics are expected to create suitable environment for developing drugs, which are specific to one patient or group. Development of genetic databases could provide additional boost to the market. Upcoming therapeutic application opportunities in fields such as cardio-renal, neurology, antiviral, pulmonary, psychiatry among others could create R&D traction across all regions.
Complex nature of the drugs, high development costs, sub-optimal development framework and inter-patient variability of effects are some of the restraints that could hamper revenue growth of the personalized medicines market over the forthcoming years.
Personalized Medicine Market: Overview & Region wise Outlook
This market is mainly driven by increasing disease incidence of various cancers and other autoimmune diseases during the forecast period. The major growth in revenues is estimated to be contributed by markets in North America followed by Europe. This can be attributed to increasing pool of cancer patients along with high healthcare per capita expenditure. The ongoing research and legal initiatives in personalized medicine in Japan could promote the market growth in the country during the forecast period. In markets in Asia pacific and Latin America regions, accelerated development of R&D infrastructure could lead bigger drug makers to create their regional R&D centers focused on personalized medicine during the forecast period. The opening up research in the bioinformatics industry and active peer levels discussion and dialogues are factors that contribute to sustainable growth of the personalized medicines market in the medium to long term.
Personalized Medicine Market: Key Players
Some key players in this market are Roche Holding AG, Astra Zeneca PLC, Vertex Pharmaceuticals Inc., Qiagen Inc., BD (Becton Dickinson & Co., Merck & Co. Inc., Pfizer Inc., American Association for Cancer Research, Siemens Healthcare Diagnostics, Inc. among others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- APEJ (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, N. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Personalized Medicine Market: Segmentation
This market can be segmented on the basis of Therapeutic area, End user and Application as follows:
Segmentation based on Therapeutic area
Segmentation based on End User
- Molecular Diagnostic Laboratories and Testing facilities
- Academic Institutes, clinical care and Research Laboratories
- Contract Research Organizations
- Bio and health informatics companies
- Others (Service providers, partners, venture capitalists, etc.)
Segmentation based on Application
- Companion Diagnostics
- Biomarker identification
- Health Informatics
- Clinical Research
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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What will you discover from Personalized Medicine Market report?
- The current and future market size, covering each aspect and nuanced trends across key national and geographic markets
- An overview of the market report, providing an imperative visual of the varied market subdivisions and overall forecast statistics in terms of value and volume
- Extensive database and key dynamics elevating the market with varied verticals associated
- Underlying Personalized Medicine Market forces that are compelling consumers or businesses to purchase the product
- How novel technologies and consumer-centric innovations will create new value-adding opportunities for companies active in the Personalized Medicine Market
- What will be environment and regulatory impacts on the market over the next decade
Which framework has been used to develop the Personalized Medicine Market report?
- Investment Feasibility Matrix - It shows returns on investment, level of competition, success rate of investment, and potential risks associated with the market. The analysis shows that the competition is high in the established market, while the returns for short-term investment are also taken into consideration
- Relative Maturity Mapping – The relative maturity is measured according to three growth phases (growth, maturity, decline)
- Relative PLC (Product Life Cycle) – Analysis of the emergence of prominent players and competitive test prices which are driving factors behind every market. (expected market behavior, observed market behavior, expected market performance, observed market performance)