StemCell Therapy

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: Segmentation

This market can be segmented on the basis of Therapeutic area, End user and Application as follows:

Segmentation based on Therapeutic area

Oncology

Neurology

Cardiology

Antiviral

Psychiatry

Others

Segmentation based on End User

Hospitals

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

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:

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)

Japan

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.

Report Highlights:

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.

NOTE -All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Future Market Insights.

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