Global Personalized Medicines Market Overview
Market Scenario
The global personalized medicines market is expected to grow at a healthy CAGR of 10.3% during 2019-2026.
Personalized medicine are the medication that are based or prepared on individual patient or intended patient groups carrying certain biomarkers and are generated to satisfy the requirement of an individual patient based on the response produced by the patient suffering from a particular disease. During last decade there is a significant increase in the healthcare expenditure and number of patient suffering from chronic diseases.
The global personalized medicine market is majorly driven by increasing prevalence of chronic diseases such as diabetes and cancer, rising attention toward the genetics and developing technology. Favorable policies of the gove
ments in relation to the personalized medicine and recent developments in the pharmacogenomics will fuel the growth of the market.
However, high development costs, complexity of the drugs, and long approval time may slow the growth of the personalized medicines market during the forecast period.
Segmentation
The global personalized medicines market is segmented on the basis of products, applications and end users.
On the basis of products, the personalized medicines market is segmented into personalized nutrition & wellness, personalized medical care, personalized diagnostic, personalized therapeutic. Personalized nutrition & wellness are further segmented into nutrition care, alte
ative medicines care, medical retail, and others. Personalized medical care is sub-segmented into telemedicine & remote patient monitoring, EMR, and other.
On the basis of application, the personalized medicines market is segmented into disease treatment, biomarker identification, clinical research, and others. Disease treatment segment is further segmented into oncology, psychiatry, infectious diseases, cardiology, endocrinology, neurology, gastroenterology, rheumatology, and others.
On the basis of end users, the personalized medicines market is segmented into hospitals & clinics, diagnostic laboratories and testing facilities, research laboratories & academic institutes, and others.
Figure: Global personalized medicines market, by products, 2018, (%)
Regional Analysis
America continues to dominate the global personalized medicines market owing to the presence of huge diabetic population, well developed technology, and high healthcare spending. According to the WHO, in 2015, 9.2% of the total Americas patients were suffering from diabetes. Moreover, strong gove
ment support and presence of leading players in this region have supported the growth of the Americas personalized medicine market.
Europe accounts for the second leading market which is followed by Asia Pacific. Asia Pacific is the fastest growing market owing rapidly growing economies and huge patient population. Continuously increasing healthcare spending and increasing gove
ment support have supported the growth of the market in Asia Pacific region.
On the other hand, the Middle East & Africa holds the least share in the market but is expecting a healthy growth in coming future.
Key Players
Innovation is the organic strategy for the development of the market and major players in the market are investing a huge amount of the capital for the developing new and advanced products.
The key players in the market are: Siemens Healthcare GmbH (Germany), Quest Diagnostics (U.S.), Sanofi (France),Pfizer Inc. (U.S.), Abbott (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), QIAGEN (Germany), CELERA (U.S.), Amgen (U.S.), and 23andme (U.S.)
Segmentation
Global Personalized Medicines Market By Products
Personalized Nutrition & Wellness
Nutrition Care
Alte
ative medicines care
Medical Retail
Others
Personalized Medical Care
Telemedicine & Remote Patient Monitoring
EMR
Other
Personalized Diagnostic
Personalized Therapeutic
Global Personalized Medicines Market By Applications
Disease Treatment
Oncology
Lung Cancer
Breast Cancer
Prostate Cancer
Others
Psychiatry
Infectious Diseases
HIV
Hepatitis B
Others
Cardiology
Endocrinology
Neurology
Gastroentrology
Rheumatology
Others
Biomarker Identification
Clinical Research
Others
Global Personalized Medicines Market By End Users
Hospitals & clinics
Diagnostic laboratories and testing facilities
Research Laboratories & Academic institutes
Others