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

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 globalpersonalized 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 Porters Five Forces models.

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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, neurodegenerativediseases, and rare genetic conditions can be treated well using the approach ofpersonalised medicine. North America is likely to hold the largest market share for this market owing to increased integration ofhealthcareIT 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 FDAs 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 patients 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 CNS Immunology Respiratory Others

The market is divided into the following, basis product:

PM Diagnostics

o Genetic Testingo Direct-to-Consumer (DTC) Diagnosticso Esoteric Lab Serviceso Esoteric Lab Tests

PM Therapeutics

o Pharmaceuticalso Genomic Medicineo Medical Devices

Personalised Medical Care

o Telemedicineo Health Information Technologyo Disease Management

Personalised Nutrition & Wellness

o Retail Nutritiono Complementary Medicineo 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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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.

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