New York, According to a new market research report published by Global Insight Services “Personalized Medicine Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Personalized medicine is a branch of medicine that is tailored to the individual patient. It takes into account the person’s unique genetic makeup, lifestyle, and environment. This approach to medicine is also sometimes referred to as precision medicine.
The goal of personalized medicine is to provide the most effective and safest care possible. This is done by using a person’s unique characteristics to predict which treatments will work best for them and to identify which treatments they are most likely to respond to.
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Key Trends
There are several key trends in personalized medicine technology. First, there is a trend toward using more sophisticated techniques to identify patients who are likely to respond to a particular treatment. This includes using genetic information to identify patients who are likely to respond to a certain drug. Second, there is a trend toward using more personalized treatments. This includes using drugs that are targeted to a patient’s specific genetic makeup. Third, there is a trend toward using more personalized follow-up care. This includes using genetic information to identify patients who are at risk for certain side effects and then providing them with more personalized care.
Key Drivers
The key drivers of personalized medicine are the increasing demand for personalized healthcare, the availability of new technologies, and the increasing number of collaborations between pharmaceutical companies and academic research institutes.
The demand for personalized healthcare is driven by the increasing incidence of chronic diseases, the aging population, and the need for more personalized and targeted treatments. The availability of new technologies, such as next-generation sequencing, is enabling the development of more personalized medicines. The increasing number of collaborations between pharmaceutical companies and academic research institutes is resulting in the development of more personalized medicines.
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Market Segments
By Product Type
- Therapeutics
- Diagnostics
- Nutrition
- Wellness
By Application
- Oncology
- Neurology
- Blood Transfusion Safety
- Others
By Distribution Channel
- Hospital Pharmacy
- Drug Store
- Retail Pharmacy
- Online Pharmacy
By Region
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- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Rest of APAC
- North America
Key Companies
The Personalized Medicine Market includes players such as Roche Holding AG, Astra Zeneca PLC, Vertex Pharmaceuticals Inc., Qiagen Inc., Becton Dickinson & Co., Merck & Co. Inc., Pfizer Inc., American Association for Cancer Research, Siemens Healthcare Diagnostics, Inc.
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