Personalized Medicine Market is expected to reach USD 848.01 Bn. at a CAGR of 6.21% during the forecast period 2029.
Personalized Medicine Market Overview:
The Personalized Medicine Market growth drivers and challenges, as well as company plans, procedures, and a detailed financial strategy, are all explored in the research. The global Personalized Medicine market study investigates the industry’s competitive landscape and leading players. In light of modern industrial conditions, this global Personalized Medicine market study helps with structure planning.
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Personalized Medicine Market Report Scope and Research Methodology:
The growth of different segments in the Personalized Medicine market helps to identify the key growth factors and develop strategies to target core application areas and fill the gaps in the target market. The report provides an in-depth analysis of the Personalized Medicine market, including meaningful insights, facts, historical data, and statistically supported and industry-validated market statistics. It also includes estimates based on an appropriate set of assumptions and methodologies. The bottom-up approach was used to estimate the Personalized Medicine market size. Key players in the Personalized Medicine industry were identified through secondary research, and their market revenues were determined through primary and secondary research. The report also covers mergers and acquisitions, strategic alliances, joint ventures, and partnerships in the Personalized Medicine market by region, investment, and strategic intent.
Personalized Medicine Market Regional Insights:
The global Personalized Medicine market is divided into five regions: Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America. The report provides regional analysis with the Personalized Medicine market size of each region. The countries portion of the research examines a variety of market factors that are expected to influence current and future Personalized Medicine market trends, as well as changes in market regulations at the country level. Some of the key factors used to forecast each country’s Personalized Medicine market situation include consumption, production location and volume, import/export analysis, pricing analysis, raw material prices, and upstream and downstream value chain analysis.
Personalized Medicine Market Dynamics:
Personalised medicine, often known as precision medicine, is a growing discipline of medicine. This medical model guides illness prevention, diagnosis, and treatment decisions based on an individual’s genetic profile. Knowing a patient’s genetic profile can help doctors choose the right medication or therapy and administer it correctly. The Human Genome Project data is being used to enhance personalised medicine.
Personalized Medicine Market Segmentation:
by Product
Personalized Medical Care
Therapeutics
Personalized Nutrition & Wellness
by Technology
Big Data Analytics
Bioinformatics
Gene Sequencing
Drug Discovery
Companion Diagnostics
During the projection period, it is expected to increase at a CAGR of 8.3%. Rising awareness of the importance of eating nutritious foods for wellness, as well as an increase in the adoption of customised diet plans, are thought to be the primary reasons driving category growth. There is a diverse selection of nutrition and wellness goods accessible, which contribute significantly to category growth. DSM and Mixfit will collaborate in March 2021 to develop personalised nutrition solutions using Artificial Intelligence (AI) technology.
The drug discovery segment is predicted to dominate the global market based on technology. Recent technological advances in medication discovery and pharmacogenomics help to drive market expansion. Pharmacogenomics is used to predict a drug’s efficacy. Pharmacogenomics assists in focusing successful medication on smaller patient subpopulations that, while exhibiting the same disease manifestation, have unique genetic profiles. During the projection period, the segment is expected to develop at an 8.7% CAGR. Qiagen announced the debut of revolutionary RNA-seq library preparation technologies for next-generation sequencing in October 2021, greatly expanding its range and customer base.
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Personalized Medicine Market Key Players:
1. Abbott Laboratories
2. Merck & Co., Inc.
3. AstraZeneca
4. Pfizer, Inc.
5. GlaxoSmithKline plc.
6. Novartis AG
7. Amgen, Inc.
8. Bayer AG
9. Mylan N.V.
10. Eli Lilly and Company
11. Bristol Myers Squibb Co.
12. Daiichi Sankyo Company, Ltd.
13. Biogen, Inc.
14. Johnson & Johnson Services, Inc.
15. F. Hoffmann-La Roche Ltd.
16. Thermo Fisher Scientific, Inc.
17. Novo Nordisk A/S
18. Sanofi Genzyme.
Key Questions answered in the Personalized Medicine Market Report are:
- What is the expected Personalized Medicine market size by the end of the forecast period?
- What was the Personalized Medicine market size in 2022?
- What are the Personalized Medicine market segments?
- Which segment in the Personalized Medicine market is expected to grow rapidly during the forecast period?
- Which are the prominent players in the Personalized Medicine market?
- What key trends are expected to emerge in the Personalized Medicine market during the forecast period?
- What factors are driving the global Personalized Medicine market growth?
- Which region dominated the global Personalized Medicine market?
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Key Offerings:
- A detailed Market Overview
- Market Share, Size & Forecast by Revenue | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Route of administration, Application, Facility of use and Region and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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