Personalized Medicine Market Definition
Personalized medicine diagnosing, monitoring, and giving the treatment to the individual according to the segmentation of disease risks and characteristics of each patient. This approach relies on the scientific research results and how the person's molecular nature along with genetic profile makes them susceptible to the particular disease. The research on personalized medicine id increasing the ability to predict the medical treatment which can be safe and effective to people and which can not.
The market study is broken down by Type (Diagnostic, Therapeutics, Medical Care, Nutrition and Wellness), by Application (Hospitals, Molecular Diagnostic Laboratories and Testing Centers and Academic Institutes) and major geographies with country level splits.
Quest Diagnostic (United States), Laboratory Corporation (United States), Becton, Dickinson, and Company (United States), Abbott Laboratories (United States), Pfizer Inc. (United States), Siemens Healthineers AG (Germany), CardioDx, Inc., (United States), Atrium Innovations Inc. (Canada), QIAGEN (Germany), Proteostasis Therapeutics, Inc. (United States), Asuragen (United States), Illumina, Inc. (United States) and Amgen Inc. (United States) are some of the key players that are part of study coverage.
AdvanceMarketAnalytics has segmented the market of Global Personalized Medicine market by Type, Application and Region.
On the basis of geography, the market of Personalized Medicine has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Hospitals Pharmacies will boost the Personalized Medicine market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Patients and Consumers will boost the Personalized Medicine market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
On 3rd January 2020, Atrium Innovations, a globally-recognized leader in the development, manufacturing, and commercialization of innovative, science-based nutritional health products, takes the next step in the company's mission to expand into personalized nutrition with the acquisition of San Francisco-based LivingMatrix. LivingMatrix, a technology-based, data, and algorithm-driven personalized functional medicine platform, was designed by clinicians to help practitioners effectively evaluate and engage patients, create personalized, actionable care plans, and track patient health outcomes.
On 11th December 2019, Proteostasis Therapeutics to Initiate First-Ever Personalized Medicine-Based Clinical Trial, CHOICES, in European CF Patients with Genotypes Ineligible for Approved CFTR Modulators. Proteostasis Therapeutics, Inc. a clinical-stage biopharmaceutical company dedicated to the discovery and development of groundbreaking therapies to treat cystic fibrosis (CF), today announced positive, initial ex-vivo results of PTI's proprietary cystic fibrosis transmembrane conductance regulator (CFTR) modulators, PTI-801, PTI-808, and PTI-428, in individuals with CF who are ineligible for the current standard of care CFTR modulator therapies due to their genotype.
- Rising Impact on Both Clinical Research and Patient Care and Improvement in Technologies Used for Personalized Medicine
- Prevalence of Many Complicated Diseases Around the Globe
- Need for the Understanding and Monitoring the Diseases
- Growing Academic Research on Personalized Medicine
- Boosting the Adoption of Personalized Medicine
- Risks Associated with Personalized Medicine
- Low Degree of Programs About Drug Discovery in Developing Regions of the World
Key Target AudiencePersonalized Medicine Manufacturers, Personalized Medicine International traders, Personalized Medicine Distributors and Suppliers, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
About ApproachThe research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
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