Global Personalized Medicine (PM) Solution Market by Type (Personalized Diagnostics, Personalized Therapies, Personalized Nutrition & Wellness), By Application (Oncology, Neurosciences, Immunology, Respiratory, Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global personalized medicine (PM) solution market is expected to grow at a CAGR of 16.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for personalized therapies and diagnostics, rising prevalence of chronic diseases, and growing investments by pharmaceutical companies in R&D for developing novel personalized therapies. Based on type, the global PM solution market is segmented into personalization diagnostics, personalization therapies, and personalized nutrition & wellness. The personalization diagnostics segment is further divided into pharmacogenomics testing, exome sequencing & genotyping services, tumor profiling services, and other diagnostic services. The pharmacogenomics testing segment accounted for the largest share of the global PM solution market in 2017 owing to its growing demand for identifying drug-gene interactions that can lead to adverse effects or therapeutic failures.



Get Free Sample Report

Product Definition:

PM solution is a technology that allows customization of treatments for patients based on their individual genetic makeup.

1) It can help to target therapies to the individuals who are most likely to benefit from them.

2) It can help to avoid or minimize adverse effects of treatment.

3) It can improve patient outcomes and quality of life.

Personalized Diagnostics:

Personalized diagnostics (PDx) is the new kid on the block in healthcare industry. It's a combination of laboratory tests and diagnostic devices that are designed to meet specific needs of patients. These tests can be used with other diagnostic tools to provide more complete picture of disease state for improved patient care, which is expected to boost demand over the forecast period.

Personalized medicine (PM) solution helps healthcare providers.

Personalized Therapies:

Personalized therapies are the medical procedures that are performed on an individual basis, based on their genetic profile. It is a growing field within medicine and science which helps in treating patients with specific treatments and medicines. The main aim of personalized therapies is to treat each patient as an individual instead of treating the whole population group at once. Personalized Therapies (PT) help in finding out genetic factors that may cause diseases, along with other factors that trigger or aggravate them.

Application Insights:

Oncology accounted for the largest share in 2015 owing to increasing prevalence of cancer and rising number of PM-targeted therapies. The growing adoption of these solutions in oncology due to various factors such as availability of advanced diagnostics, rising incidences, and increasing survival rates is anticipated to boost demand over the forecast period.

The neurosciences segment is expected to register a significant growth rate over the forecast period owing to an increase in incidence rates for Alzheimer¢â‚¬â„¢s disease, Parkinson's disease, multiple sclerosis and others which are associated with aging processes. Moreover, an increase in research & development activities pertaining towards personalized medicine for treatment of neurological disorders is further estimated to propel market growth during future years.

Regional Analysis:

North America dominated the global market in 2017. This can be attributed to the presence of key players, high adoption rate of advanced technologies, and favorable reimbursement policies & regulatory reforms. The U.S., in particular, is a major revenue contributor owing to its well-developed healthcare infrastructure and strong commercialization of personalized medicine solutions by companies based there.

Asia Pacific is expected to witness lucrative growth over the forecast period due to factors such as rising disposable income coupled with growing awareness about early diagnosis and effective treatment for various diseases prevalent in this region. Moreover, an increase in investments by international players for expansion into untapped areas will boost regional growth during the forecast period (2018-2030). For instance, Novartis invested USD X million for a 10% stake acquisition by GSK plc., which is anticipated to propel Novartis' cancer care portfolio across Asia Pacific region over next few years (Novartis 2016).

Growth Factors:

Increasing demand for precision medicine to target specific diseases and improve patient outcomes
Advances in technology and data analytics that enable more personalized diagnosis and treatment planning
Growing number of PM clinical trials to assess the safety and efficacy of novel therapies
Rising prevalence of chronic diseases that require lifelong management
Increased focus on value-based care as a way to contain healthcare costs


Get Free Sample Report
Scope Of The Report
Report Attributes
Report Details
Report Title
Personalized Medicine (PM) Solution Market Research Report
By Type
Personalized Diagnostics, Personalized Therapies, Personalized Nutrition & Wellness
By Application
Oncology, Neurosciences, Immunology, Respiratory, Others
By Companies
2bPrecise, OneOme, TIGAR Health- IR2Dx, Kailos Genetics, Syapse Inc, Karius, Astarte Medical, Fabric Genomics, INC., Orion Health, 2B Precise, Fabric Genomics, Pfizer, Gene 42, IBM Watson Health, Philips Healthcare, Medtronic, Nanthealth, Navican, N-of-One, PierianDx, Sunquest Information System, Tempus, Novartis, Translational Software, Biocrates Life Sciences AG, Nanostring Technologies, Thermo Fisher Scientific, Quest Diagnostics Incorporated
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
219
Number of Tables & Figures
154
Customization Available
Yes, the report can be customized as per your need.

Global Personalized Medicine (PM) Solution Market Report Segments:
The global Personalized Medicine (PM) Solution market is segmented on the basis of:
Types
Personalized Diagnostics, Personalized Therapies, Personalized Nutrition & Wellness
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Oncology, Neurosciences, Immunology, Respiratory, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
2bPrecise
OneOme
TIGAR Health- IR2Dx
Kailos Genetics
Syapse Inc
Karius
Astarte Medical
Fabric Genomics, INC.
Orion Health
2B Precise
Fabric Genomics
Pfizer
Gene 42
IBM Watson Health
Philips Healthcare
Medtronic
Nanthealth
Navican
N-of-One
PierianDx
Sunquest Information System
Tempus
Novartis
Translational Software
Biocrates Life Sciences AG
Nanostring Technologies
Thermo Fisher Scientific
Quest Diagnostics Incorporated



Get Free Sample Report

Highlights of The Personalized Medicine (PM) Solution Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of market.
Historical data and forecast.
Estimations for the forecast period 2030.
Developments and trends in the market.
By Type:
Personalized Diagnostics
Personalized Therapies
Personalized Nutrition & Wellness
By Application:
Oncology
Neurosciences
Immunology
Respiratory
Others
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Personalized Medicine (PM) Solution Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
Correctly Positioning New Products
Market Entry Strategies
Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
Identifying Appropriate Advertising Appeals



8 Reasons to Buy This Report
Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
Implemented Robust Methodology to Prepare the Report
Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
Provides Information About the Top-winning Strategies Implemented by Industry Players.
In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
Customization of the Report Available

Frequently Asked Questions?