The worldwide personalized
medicine market is projected to
rise at about 9.5 percent CAGR from 2010 to 2015. This rise is estimated to be
steered forward by the untimely detection of diseases and cost reductions on
treatments. Additionally, drug safety, therapy optimization and patient
conformity are also predicted to drive the market ahead.
Rising technological
innovations and advancements in DNA technology are likely to lead towards the
formation of the personalized medicine market in France, United Kingdom, China,
India and Japan. The worldwide market is anticipated to experience imperative
expansion in the years to come. Personalized medicines are powerful customized
remedies for individual patients.
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Other factors
propelling the personalized medicine market forward are increased consciousness
regarding health, enhancements in technologies and innovations in the medical
sector. The market is also expanding further on account of rising life
threatening illnesses, like cancer and AIDS. Moreover, poor lifestyles,
escalating consumption of unhealthy food and amplified population of the aged are
leading to increasing chronic illnesses.
These illnesses lead
towards accessing personalized medicines to take care of the former. This
factor also steers the sales of the personalized medicine market.
Categories
The market can be
sliced on account of four categories. These include technologies, applications,
products and regions. The technologies market can be divided further into point
of care, stem cell therapy, pharmacoproteomics, pharmacogenetics,
pharmacokinetics, pharmacodynamics and metabolomics.
The applications
personalized medicine market can be segmented in view of government,
diagnostics, medical and pharmaceuticals. Rising demand for personalized
medicines across these sectors is also projected to drive increased demand for
the market.
The products
personalized medicine market can be segmented, considering PM therapeutics; PM
diagnostics; personalized nutrition and wellness; and personalized medical
care. The regions market is sliced on the strength of four regions. These are
Asia Pacific, rest of the world, North America and Europe.
Escalating demand
for personalized medicines across these regions also drives the demand for the
personalized medicine market.
Leaders
The technologies
market was dominated by pharmacogenomics. Point of care followed
pharmacogenomics and occupied the second position. This was with respect to
share in the personalized medicine market.
The applications
market was leaded by medical. Medical captured majority of the shares. The
products personalized medicine market was dominated by personalized nutrition
and wellness. Personalized nutrition and wellness captured the biggest share.
High accessibility
and large population drive this segment. PM diagnostics and PM therapeutics are
predicted to rise most rapidly through the forecast period. This is on account
of innovations in the sector of genetic medicine. The regions personalized
medicine market was dominated by North America.
High-tech medical
infrastructure, supportive governmental policies in relation to research on cancer
and rising consciousness levels are the major factors, driving this region.
Asia Pacific is anticipated to undergo profitable expansion through the
forecast period.
High infiltration of
personalized medicines and massive population are responsible for driving this
region. Rising joint proposals between eastern and western market members are
also estimated to steer the Asian Pacific personalized medicine market ahead.
China and India
contribute revenue to this regional market. Presently, they are facing growing
demand for personalized medicines.
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