Personalized Medicine Market Size, Share & Trends Analysis Report By Product (Personalized Medicine Diagnostics {Genetic Testing, DTC Diagnostics, Esoteric Lab Services, Esoteric Lab Tests}, Personalized Medicine Therapeutics {Pharmaceutical, Genomic Medicine, Medical Devices}, Personalized Medical Care {Telemedicine, Health Information Technology}, Personalized Nutrition & Wellness {Retail Nutrition, Complementary & Alternative Medicine}), By Application (Cancer Management, Blood Transfusion Safety, Coagulation Therapy, Diabetes, Infectious Diseases, Central Nervous System (CNS) Disorders, Autoimmune Diseases, Cardiovascular Diseases, Neurology, Psychiatry, Others) Based on Region, And Segment Forecasts, 2022 - 2028

Global Personalized Medicine Market is valued at USD 489.1 Billion in 2020 and expected to reach USD 751.1 Billion by 2027 with a CAGR of 6.32% over the forecast period.

Global Personalized Medicine Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Rising prevalence of chronic diseases, increasing demand for personalized medicine and growing technological advancements in healthcare are anticipated to drive the growth of Global Personalized Medicine Market.

Scope of Global Personalized Medicine Market Report:

Personalized medicine is also referred as precision medicine. It is the field of medicine that finds the best treatment for each patient at the correct time. Like, physicians use medical history, circumstances, diagnostic tests and values, as well as information from prior patient therapies, to prevent disease and develop targeted therapies that can speed up a patient's treatment and recovery. Application of personalized medicine in health care industry is truly advantageous for exact ongoing diagnosis and therapy of conditions, like a few sorts of diabetes and cardiovascular diseases. Personalized medicine is mainly used in clinical decision making by using biological information available through a genetic test or biomarker. Personalized medicine is better than traditional medicine, because it is based on each patient's unique genetic test. It can be used to overcome the limitations of traditional medicine.

COVID-19 has impacted many different areas of the personalized medicine market. In current pandemic, personalized medicine is more in demand. The healthcare industry is focused on guiding personalized medicine and genomics research to better understand COVID-19 vulnerability. During Covid-19, personalized medicine has urged cooperative efforts between medical institutions, governments and researchers to quickly develop effective treatments for patients on time. For example, recently, the San Antonio Partnership for Precision Therapeutics (SAPPT) announced grants to two bioscience research teams, bringing the total to seven projects funded by the SAPPT in 2020 that aimed at accelerating intervention for COVID-19 therapeutic discovery. The rising interest and expanded demand during pandemic for personalized medicine is showing a positive impact on the global personalized medicine market.

Personalized Medicine Companies

Some major key players for the global personalized medicine market report cover prominent players Danaher Corporation (Cepheid, Inc.), Exact Sciences Corporation, ASURAGEN, INC., Illumina, Inc., GE Healthcare, Genentech, Inc., 23andME, Inc., Biogen, Dako A/S, Exagen Inc., Precision Biologics, Abbott, QIAGEN, Celera Diagnostics LLC, Decode Genetics, Inc., Genelex and others.

Global Personalized Medicine Market Segmentation:

Global personalized medicine market is segmented on the basis of product, application and regional & country level. Based upon product, the personalized medicine market is classified into personalized medicine diagnostics, personalized medicine therapeutics, personalized nutrition & wellness and personalized medical care. Based on personalized medicine diagnostics, the market is further subdivided into genetic testing, DTC diagnostics, esoteric lab services and esoteric lab tests. Based on personalized medicine therapeutics, the market is further sub-divided into pharmaceutical, genomic medicine and medical devices.

Based on personalized medical care, the market is further sub classified into telemedicine and health information technology. Based on personalized nutrition & wellness, the market is further sub classified into retail nutrition and complementary & alternative medicine. Based upon application, the personalized medicine market is divided into cancer management, blood transfusion safety, coagulation therapy, diabetes, infectious diseases, central nervous system (CNS) disorders, autoimmune diseases, cardiovascular diseases, neurology, and psychiatry and others.

By Product:

• Personalized Medicine Diagnostics
  • Genetic Testing
  • DTC Diagnostics
  • Esoteric Lab Services
  • Esoteric Lab Tests
• Personalized Medicine Therapeutics
  • Pharmaceutical
  • Genomic Medicine
  • Medical Devices
• Personalized Medical Care
  • Telemedicine
  • Health Information Technology
• Personalized Nutrition & Wellness
  • Retail Nutrition
  • Complementary & Alternative Medicine

By Application:

• Cancer Management
• Blood Transfusion Safety
• Coagulation Therapy
• Diabetes
• Infectious Diseases
• Central Nervous System (CNS) Disorders
• Autoimmune Diseases
• Cardiovascular Diseases
• Neurology
• Psychiatry
• Others

The regions covered in this global personalized medicine market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of personalized medicine is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.

News: Infosys Launched SAP-based Personalized Medicine Solution for Pharmaceutical Companies

On June 29^th, 2020; Infosys announced the launch of an all-new, Personalized Medicine solution for the pharmaceutical industry. The solution leverages SAP S/4HANA, the SAP C/4HANA suite, the SAP Analytics Cloud solution, and SCI platform to derive intelligent insights, enabling pharmaceutical companies to address critical business and regulatory requirements while delivering personalized experiences to patients. The Infosys Personalized Medicine Solution enables pharma companies to digitally transform their processes and drive stronger business outcomes.

The modular solution uses advanced analytics to manage individual patient treatment lifecycle from enrollment and scheduling to post medical treatments and can notably reduce patient treatment lifecycle. It uses IoT and blockchain to manage critical cold chains and outcome-based invoicing. The solution incorporates seamlessly into an existing business process with minimal disruptions, reducing implementation time, thus enabling quicker product launches for pharma companies.

Rising Prevalence of Chronic Diseases, Increasing Demand for Personalized Medicine and Growing Technological Advancements in Healthcare Drive the Market Growth

The growing prevalence of various types of cancer and increasing demand of personalized medicine therapy in cancer and various other disease indications like diabetes are some of the major factors expected to drive the growth for global personalized medicine market. According to the World Health Organization; Cancer is the second leading cause of death globally and was responsible for an estimated 9.6 million deaths in 2018. Globally, about 1 in 6 deaths occurred due to cancer. As per report by WHO, there were 2.3 million women diagnosed with breast cancer and 685 000 deaths globally in 2020.

In addition, growing demand for personalized medicine real-time analysis is also supplementing the market growth. For example; personalized medicine is used in target cancerous tissues diagnosis which gives lesser side effects. For this reason that personalized medicines can reduce the number of adverse drug reactions during treatments. Because, drug reactions are the third or fourth-largest cause of deaths in the United States.

Furthermore, growing technological advancements in healthcare by players is also fostering the global personalized medicine market growth. For example; in June 2020, Infosys launched SAP-based personalized medicine solution for the pharmaceutical industry. However, unstable regulatory framework and lack of awareness among people may hamper the global personalized medicine market growth. In spite of that, advance developments and the adoption of high-value personalized medicine technologies can offer more opportunities for the further growth of the global personalized medicine market.

North America is Expected to Dominate the Global Personalized Medicine Market

North America is expected to dominate the personalized medicine market with the highest share due to  the rising prevalence of chronic diseases like, cancer, diabetes, rising expenditure on healthcare and R&D in this region. For instance; for cancer treatments, like colorectal cancer and breast cancer, personalized medicine provides significant advances. According to the American Cancer Society journal, in 2020, there were an estimated 1.8 million new cancer cases diagnosed and 606,520 cancer deaths in the United States. According to the United Nations, around 70% people died because of chronic diseases and expected to reach about 60% by 2030. In addition, increasing awareness among the patients about the significance of personalized medicine for the treatment of various diseases is also supplementing the market growth in this region.

The Asia Pacific is expected to emerge as the fastest-growing region in the global personalized medicine market due to the rising prevalence of chronic diseases, rising awareness about early diagnosis, developing healthcare infrastructure, and availability of effective treatment in emerging countries, such as China and India in this region. For example; chronic diseases like mental health disorders, cardiovascular diseases, diabetes, and cancer are the leading causes of death and disability in India.

Key Benefits of Global Personalized Medicine Industry Report

• Global Personalized Medicine Industry report covers in-depth historical and forecast analysis.
• Global Personalized Medicine Industry research report provides detailed information about market introduction, market summary, global market revenue (revenue USD), market drivers, market restraints, market opportunities, competitive analysis, regional and country level.
• Global Personalized Medicine Industry report helps to identify opportunities in the marketplace.
• Global Personalized Medicine Industry report covers extensive analysis of emerging trends and competitive landscape.

On Special Requirement personalized medicine market Report is also available for below Regions and Country:

North America
• U.S.
• Canada

Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific
• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America
• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Personalized Medicine Trends 2021

• Novel approaches in tracking patient data in the long term
• The importance of taking an individualized approach to clinical trials
• A new regulatory landscape for laboratory-developed tests

For Need Extra Personalized Medicine Trends Contact

Top Trending Reports:

• Infectious Disease Diagnostics Market Size, Share & Trends Analysis Report 2022-2028
• Threat Intelligence Market Size, Share & Trends Analysis Report 2022-2028

Interested in this report?

Personalized Medicine Market Size, Share, Growth, Trends, And Industry Analysis By 2028

Get FREE Sample Buy Now