Personalized Medicine Market Overview:

The Personalized medicine is an emerging field of, medicine which is also referred to as precision medicine. This medical model uses an individual’s genetic profile to guide decisions made in regard to the prevention, diagnosis, and treatment of disease. Knowledge of a patient's genetic profile can help doctors select the proper medication or therapy and administer it using the proper dose or regimen. Personalized medicine is being advanced through data from the Human Genome Project.

Market Scope:

Based on Product, the personalized nutrition & wellness segment held the largest share of xx% in 2022. It is expected to grow at a CAGR of 8.3% during the forecast period. Rising awareness of consuming healthy food for wellness, an increase in adoption of customized diet plans are considered to be the major factors propelling the segment growth. A wide range of nutrition & wellness products are available which play a significant role in boosting segment growth. In March 2021, DSM partnered with Mixfit to provide personalized nutrition solutions by combining Artificial Intelligence (AI) technology.

Drivers:

The rising prevalence of cancer and the rising demand for personalized cancer therapeutics boost the market growth. Growing incidences of technological advancements owing to the accessibility of large scale human genome databases including Next Generation Sequencing (NGS) positively impacts market growth. The use of advanced computational tools and the development of innovative genetic technologies help in identifying cancer causes. Recent developments in pharmacogenomics are expected to create a suitable environment for developing drugs, which are specific to one patient or group. Increasing therapeutic applications in the fields like cardio-renal, neurology, antiviral, pulmonary, psychiatry are expected to create potential growth opportunity in forecast years.

Segmentation:

by Product

Personalized Medical Care
Therapeutics
Personalized Nutrition & Wellness

by Application

Oncology
Immunology
CNS
Respiratory

by Technology

Big Data Analytics
Bioinformatics
Gene Sequencing
Drug Discovery
Companion Diagnostics

by End users

Pharmaceutical Companies
Diagnostic Companies
Healthcare IT companies

Key Players: the key players are

1. Abbott Laboratories
2. Merck & Co., Inc.
3. AstraZeneca
4. Pfizer, Inc.
5. GlaxoSmithKline plc.
6. Novartis AG
7. Amgen, Inc.
8. Bayer AG
9. Mylan N.V.
10. Eli Lilly and Company
11. Bristol Myers Squibb Co.
12. Daiichi Sankyo Company, Ltd.
13. Biogen, Inc.
14. Johnson & Johnson Services, Inc.
15. F. Hoffmann-La Roche Ltd.
16. Thermo Fisher Scientific, Inc.
17. Novo Nordisk A/S
18. Sanofi Genzyme.

Regional Analysis:

The report has assessed the global Personalized Medicine market in the following regions:

America, North (the United States, Canada)
European Union (Germany, France, United Kingdom, Russia)
Asia-Pacific region (China, Japan, Korea, India, Southeast Asia, and Australia)
Latin America (Brazil, Argentina, Colombia)
Africa and the Middle East (Saudi Arabia, UAE, Egypt, South Africa)


Key Questions answered in the Personalized Medicine Market Report are:

Which key trends are likely to emerge in the Personalized Medicine market in the forecast period?
What will be the Personalized Medicine market size by 2027?
Which company had the biggest share in the Personalized Medicine market in 2020?