Market Overview:
The global personalized medicines market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for precision medicine, rising prevalence of chronic diseases, and technological advancements in the field of personalized medicine. The global personalized medicines market is segmented on the basis of type into PM diagnostics, PM therapeutics, personal medical care, and personalized nutrition & wellness. The PM diagnostics segment is expected to grow at a CAGR of 11.5% during the forecast period from 2018 to 2030 due to increasing demand for precision diagnosis and treatment options for various diseases. The PM therapeutics segment is also expected to grow at a high rate during the forecast period due to increasing adoption of targeted therapies and growing preference for customized therapies over traditional therapies.
Product Definition:
Personalized medicines are drugs or therapies that are specifically tailored to the individual patient. This means that the medicines are not only customized to meet the patient's unique needs, but they are also designed to take into account the individual's genetic makeup. Personalized medicines can be used for a variety of purposes, including diagnosing and treating diseases, preventing injuries, and improving overall health.
The importance of personalized medicines cannot be overstated. By tailoring treatments specifically for each individual patient, we can improve outcomes and reduce side effects. Additionally, by using patients' genetic information as part of their care plan, we can help identify potential health risks before they become a problem.
PM Diagnostics:
Personalized medicines are the new trend in the healthcare industry. They are also known as precision or personalized medicine. These medicines have specific and/or customized treatments for each patient based on their genetic differences, lifestyle, and environmental factors.
PM Therapeutics:
PM therapeutics is a new class of drug that acts on the molecular target for disease management. It's main properties include specificity and high potency. These drugs are being tested in Phase II clinical trials for various indications such as cancer, HIV, etc. Currently there are two drugs under phase I trial namely PM-1 (perfluoromethyl methanesulfonate) and PM-2 (perfluorooctanyl methanesulfonate).
Application Insights:
The hospitals segment dominated the global personalized medicines market in 2017. This can be attributed to factors such as increasing hospital admissions and rising prevalence of chronic diseases. Moreover, an increase in government initiatives for improving healthcare infrastructure is also expected to drive the segment over the forecast period. For instance, according to a study published by World Health Organization (WHO) in 2016, it was found that there were approximately 662 million visits to primary care physicians across all age groups globally which indicates a need for increased number of diagnostics tests and prescription drugs used worldwide.
The pharmacies segment are expected to grow significantly owing primarily due these factors; growing awareness among consumers regarding their health conditions.
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., which is at the forefront of this region, has a well-established healthcare infrastructure and is also among countries with highest per capita spending on healthcare.
Growth Factors:
- Increasing prevalence of chronic diseases: The global prevalence of chronic diseases is increasing at an alarming rate. This is primarily because of the changing lifestyles and dietary habits of people across the world. According to a study by the World Health Organization (WHO), chronic diseases are responsible for 63% of all deaths worldwide. This number is expected to increase in the coming years due to the aging population and rising rates of obesity and diabetes. Personalized medicines can help in better diagnosis and treatment of these conditions, thus reducing their impact on patients’ lives.
- Advances in technology: The field of personalized medicine is constantly evolving with new technologies being developed every day. These technologies are helping researchers understand disease mechanisms better, identify biomarkers more accurately, and develop novel therapies that target specific patient populations. For example, next-generation sequencing (NGS) technology can be used to sequence a patient’s entire genome within minutes, allowing for more accurate diagnosis and treatment planning .
Scope Of The Report
Report Attributes
Report Details
Report Title
Personalized Medicines Market Research Report
By Type
PM Diagnostics, PM Therapeutics, Personalized Medical Care, Personalized Nutrition & Wellness
By Application
Hospitals Pharmacies, Retail Pharmacies, Dietary Care Centers, Others
By Companies
G Biotech, Quest Diagnostics, Laboratory Corporation of America, Abbott, Agendia NV, Asuragen Inc, Becton Dickinson, CardioDx Inc., Foundation Medicine, Qiagen, Siemens Healthcare, Amgen, Bristol-Myers Squibb, GE Healthcare, Pfizer, Sanofi, andMe, Illumina
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
227
Number of Tables & Figures
159
Customization Available
Yes, the report can be customized as per your need.
Global Personalized Medicines Market Report Segments:
The global Personalized Medicines market is segmented on the basis of:
Types
PM Diagnostics, PM Therapeutics, Personalized Medical Care, 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
Hospitals Pharmacies, Retail Pharmacies, Dietary Care Centers, 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:
- G Biotech
- Quest Diagnostics
- Laboratory Corporation of America
- Abbott
- Agendia NV
- Asuragen Inc
- Becton Dickinson
- CardioDx Inc.
- Foundation Medicine
- Qiagen
- Siemens Healthcare
- Amgen
- Bristol-Myers Squibb
- GE Healthcare
- Pfizer
- Sanofi
- andMe
- Illumina
Highlights of The Personalized Medicines 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:
- PM Diagnostics
- PM Therapeutics
- Personalized Medical Care
- Personalized Nutrition & Wellness
- By Application:
- Hospitals Pharmacies
- Retail Pharmacies
- Dietary Care Centers
- 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 Medicines 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
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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?
Personalized medicines are medications that have been specifically designed to meet the needs of an individual patient. This means that the medication will be tailored to specific characteristics of the patient, such as their age, sex, and medical history. Personalized medicine can help improve treatment outcomes by ensuring that patients receive medications that are most effective for them.
Some of the major players in the personalized medicines market are G Biotech, Quest Diagnostics, Laboratory Corporation of America, Abbott, Agendia NV, Asuragen Inc, Becton Dickinson, CardioDx Inc., Foundation Medicine, Qiagen, Siemens Healthcare, Amgen, Bristol-Myers Squibb, GE Healthcare, Pfizer, Sanofi, andMe, Illumina.
The personalized medicines market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Personalized Medicines Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Personalized Medicines Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Personalized Medicines Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Personalized Medicines Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Personalized Medicines Market Size & Forecast, 2020-2028
4.5.1 Personalized Medicines Market Size and Y-o-Y Growth
4.5.2 Personalized Medicines Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 PM Diagnostics
5.2.2 PM Therapeutics
5.2.3 Personalized Medical Care
5.2.4 Personalized Nutrition & Wellness
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Hospitals Pharmacies
6.2.2 Retail Pharmacies
6.2.3 Dietary Care Centers
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Personalized Medicines Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Personalized Medicines Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 PM Diagnostics
9.6.2 PM Therapeutics
9.6.3 Personalized Medical Care
9.6.4 Personalized Nutrition & Wellness
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Hospitals Pharmacies
9.10.2 Retail Pharmacies
9.10.3 Dietary Care Centers
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 PM Diagnostics
10.6.2 PM Therapeutics
10.6.3 Personalized Medical Care
10.6.4 Personalized Nutrition & Wellness
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Hospitals Pharmacies
10.10.2 Retail Pharmacies
10.10.3 Dietary Care Centers
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 PM Diagnostics
11.6.2 PM Therapeutics
11.6.3 Personalized Medical Care
11.6.4 Personalized Nutrition & Wellness
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Hospitals Pharmacies
11.10.2 Retail Pharmacies
11.10.3 Dietary Care Centers
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 PM Diagnostics
12.6.2 PM Therapeutics
12.6.3 Personalized Medical Care
12.6.4 Personalized Nutrition & Wellness
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Hospitals Pharmacies
12.10.2 Retail Pharmacies
12.10.3 Dietary Care Centers
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 PM Diagnostics
13.6.2 PM Therapeutics
13.6.3 Personalized Medical Care
13.6.4 Personalized Nutrition & Wellness
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Hospitals Pharmacies
13.10.2 Retail Pharmacies
13.10.3 Dietary Care Centers
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Personalized Medicines Market: Competitive Dashboard
14.2 Global Personalized Medicines Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 G Biotech
14.3.2 Quest Diagnostics
14.3.3 Laboratory Corporation of America
14.3.4 Abbott
14.3.5 Agendia NV
14.3.6 Asuragen Inc
14.3.7 Becton Dickinson
14.3.8 CardioDx Inc.
14.3.9 Foundation Medicine
14.3.10 Qiagen
14.3.11 Siemens Healthcare
14.3.12 Amgen
14.3.13 Bristol-Myers Squibb
14.3.14 GE Healthcare
14.3.15 Pfizer
14.3.16 Sanofi
14.3.17 andMe
14.3.18 Illumina
