Advancements in the field of genomics have created ample opportunities for personalized medicines to emerge in the healthcare industry. Personalized medicine represents an interface of therapeutics and diagnostics. It involves the tailoring of treatments as per individuals. The growing research applications and identification of molecular markers towards disease predisposition and progression have led to the growth of personalized medicine. Industry players have also rapidly adopted this field and are progressing towards achieving higher goals in the same.
According to our new research report, “Personalized Medicine Market Analysis”, the U.S. represents the brightest market for personalized medicine and is anticipated to grow at a CAGR of around 9.5% during 2012-2017. The need for rapid detection of diseases, especially cancer,and their more efficient treatments are primarily driving this market.
Besides USA, countries like the U.K., France, Germany, India, China, and Japan have also been trying to pioneer personalized medicine with the help of advanced technologies. A lot of investment has been undergoing for research and development to develop biomarkers and personalized healthcare solutions in order to improve the medical outcomes. Our report provides a prudent analysis at the country level, elucidating the level of personalized medicine penetration, recent industry developments and the future growth prospects.
Companies are actively involved in the development of advanced technological tools and diagnostic equipments that help in promoting personalized medicine. Strategic alliances and consolidation has also become a common trend towards greater market presence. Academic and private research institutions as well as small biotech and major pharmaceutical companies are increasingly looking for alternative ways to strengthen their pipelines. The report highlights the various strategies being adopted by market players and research institutes to promote growth in this field.
The report also covers the industry positioning in terms of the major therapeutic areas. The study also provides an insight into the segment-wise competitive landscape, which includes the profiles of Pharmaceutical/Biotech, Diagnostic, IT/Informatics, and Research Tool companies across the globe. Through the report, companies planning to venture into the personalized medicine sector will also have an in-depth understanding of the industry dynamics.