Personalized Medicine Market by Product (Personalized Medicine Testing, Personalized Medicine Therapeutics), Application (Oncology, Neurology, Cardiology) - Global Forecast to 2027
The global personalized medicine market is projected to reach USD ~500 billion by 2027 from USD 300 Billion in 2022, at a CAGR of 11% during the forecast period
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Personalized medicine integrates genetic profiles of an individual to guide diagnostic, preventive, and treatment decisions. Expanding data repository of the Human Genome Project has enhanced the access to genetic profiles of patients, further facilitating patient-specific treatment regimen. Personalized medicine modalities offer insights on the unique genetic and molecular profile of patients, which helps in predicting the patient’s respone to the treatment.
Increase in genomic research activites has shifted the focus of precision medicine from just oncology to non-oncology applications. At present two-third portion of the Phase 3 pipeline for personalized medicine is captured by non-oncology applications (As reported by Diaceutics Group). This indicates the expansion of research studies beyond oncology, expected to drive the market growth in near future. Some of the non-oncology applications expected to show lucrative growth include central nervous system diseases, infectious diseases, and cardiovascular diseases. Alzheimer’s and Parkinson’s diseases exhibit strong genetic correlations, which make them attractive non-oncology research applications in the precision medicine market.
The personalized medicine market is segmented based on product, application, end users, and region. Based on product, the market is segmented into personalized medicine diagnostics and therapeutics. Therapeutics is sub-segmented into genetic testing, DTC diagnostics, and other products. Diagnostics is sub-segmented into pharmaceutical, genomic medicine, and medical devices. By application, the market is segmented into oncology, neurology, cardiology, antiviral, psychiatry, immunology, and other applications. The end users analyzed in this market include hospitals and clinical care, diagnostic companies and testing facilities, academic research institutes and research laboratories, contract research organizations, bio and health informatics companies, and others.
The personalized medicine market includes comprehensive analysis on regions, segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Some of the major players in the global personalized medicine market are Abbott Laboratories, Merck & Co., Inc., Astrazeneca, Pfizer, Inc., Glaxosmithkline Plc., Novartis AG, Amgen, Inc., Bayer Ag, Eli Lilly And Company, and Mylan N.V.
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This report categorizes the personalized medicine market into the following segments
Personalized Medicine Market, By Product
- Personalized Medicine Diagnostics
- Genetic Testing
- DTC Diagnostics
- Others
- Personalized Medicine Therapeutics
- Pharmaceutical
- Genomic Medicine
- Medical Devices
Personalized Medicine Market, By Application
- Oncology
- Neurology
- Cardiology
- Antiviral
- Psychiatry
- Immunology
- Others
Personalized Medicine Market, By End Users
- Hospitals And Clinical Care
- Diagnostic Companies And Testing Facilities
- Academic Research Institutes And Research Laboratories
- Contract Research Organizations
- Bio And Health Informatics Companies
- Others
Personalized Medicine Market, By Region
- North America
- US
- Canada
- Europe
- Germany
- France
- Uk
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Rest Of Asia Pacific
- Latin America
- Middle East And Africa
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TABLE OF CONTENTS
1 INTRODUCTION
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS & EXCLUSIONS
1.3 MARKET SCOPE
1.3.1 MARKET COVERED
1.3.2 YEARS CONSIDERED FOR THE STUDY
1.4 CURRENCY
1.5 LIMITATIONS
1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.2 PRIMARY DATA
2.1.2.1 KEY INDUSTRY INSIGHTS
2.2 MARKET SIZE ESTIMATION
2.3 MARKET GROWTH RATE PROJECTIONS
2.4 MARKET BREAKDOWN AND DATA TRIANGULATION
2.5 ASSUMPTIONS FOR THE STUDY
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.2 RESTRAINTS
5.2.3 OPPORTUNITIES
5.2.4 CHALLENGES
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS
5.4 PRICING ANALYSIS
5.5 VALUE CHAIN ANALYSIS
5.6 ECOSYSTEM ANALYSIS
5.7 PATENT ANALYSIS
5.8 KEY CONFERENCES AND EVENTS IN 2022-2023
5.9 REGULATORY ANALYSIS
5.10 PORTER’S FIVE FORCES ANALYSIS
5.11 KEY STAKEHOLDER AND BUYING CRITERIA
6 PERSONALIZED MEDICINE MARKET, BY PRODUCT, 2020-2027 (USD MILLION)
6.1 INTRODUCTION
6.2 PERSONALIZED MEDICINE TESTING
6.2.1 GENETIC TESTING
6.2.2 DTC TESTING
6.2.3 OTHERS
6.3 PERSONALIZED MEDICINE THERAPEUTICS
6.3.1 PHARMACEUTICALS
6.3.2 MEDICAL DEVICES
6.3.3 OTHERS
7 PERSONALIZED MEDICINE MARKET, BY APPLICATION, 2020-2027 (USD MILLION)
7.1 INTRODUCTION
7.2 ONCOLOGY
7.3 NEUROLOGY
7.4 CARDIOLOGY
7.5 ANTIVIRAL
7.6 PSYCHIATRY
7.7 IMMUNOLOGY
7.8 OTHERS
8 PERSONALIZED MEDICINE MARKET, BY END USERS, 2020-2027 (USD MILLION)
8.1 INTRODUCTION
8.2 HOSPITALS AND CLINICAL CARE
8.3 DIAGNOSTIC COMPANIES AND TESTING FACILITIES
8.4 ACADEMIC RESEARCH INSTITUTES AND RESEARCH LABORATORIES
8.5 CONTRACT RESEARCH ORGANIZATIONS
8.6 BIO AND HEALTH INFORMATICS COMPANIES
8.7 OTHERS
9 PERSONALIZED MEDICINE MARKET, BY REGION, 2020-2027 (USD MILLION)
9.1 INTRODUCTION
9.2 NORTH AMERICA
9.2.1 US
9.2.2 CANADA
9.3 EUROPE
9.3.1 GERMANY
9.3.2 FRANCE
9.3.3 UK
9.3.4 ITALY
9.3.5 SPAIN
9.3.6 ROE
9.4 ASIA PACIFIC
9.4.1 JAPAN
9.4.2 CHINA
9.4.3 INDIA
9.4.4 REST OF APAC
9.5 LATIN AMERICA
9.6 MIDDLE EAST AND AFRICA
10 COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 KEY PLAYER STRATEGIES
10.3 REVENUE SHARE ANALYSIS OF TOP MARKET PLAYERS
10.4 MARKET SHARE ANALYSIS, 2021
10.5 COMPANY EVALUATION QUADRANT
10.6 COMPANY EVALUATION QUADRANT – SME/START-UPS
10.7 COMPANY GEOGRAPHIC FOOTPRINT
10.8 COMPETITIVE SCENARIO
11 COMPANY PROFILES
(The details on business overview, financial information, products/services portfolio, recent developments, MarketsandMarkets view will be provided)*
11.1 ABBOTT LABORATORIES
11.2 MERCK & CO., INC.
11.3 ASTRAZENECA
11.4 PFIZER, INC.
11.5 GLAXOSMITHKLINE PLC.
11.6 NOVARTIS AG
11.7 AMGEN, INC.
11.8 BAYER AG
11.9 ELI LILLY AND COMPANY
11.10 MYLAN N.V.
* Details on business overview, financial information, products/services portfolio, recent developments, MarketsandMarkets view might not be captured in case of unlisted companies.
12 APPENDIX
12.1 INSIGHTS FROM INDUSTRY EXPERTS
12.2 DISCUSSION GUIDE
12.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
12.4 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE
12.5 AVAILABLE CUSTOMIZATIONS
12.6 RELATED REPORTS
12.7 AUTHOR DETAILS
Growth opportunities and latent adjacency in Personalized Medicine Market