, /PRNewswire/ -- The planetary personalized medicine market size is expected to scope USD 922.72 billion by 2030, according to a caller study by Grand View Research, Inc. The marketplace is expected to registry a CAGR of 6.95% from 2022 to 2030 owing to the expanding incidence of diseases and the rising request for caller therapeutic drugs. The emerging applications of personalized medicine are consistently enhanced by immense probe efforts. For instance, successful July 2022, researchers astatine the UMass Chan Medical School developed a microorganism-based personalized medicine exemplary strategy to assistance the knowing of saltation successful metabolism to gauge the transportation betwixt an individual's genome, diet, microbiota, and associative biology factors.
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Key Industry Insights & Findings from the report:
The wide maturation of the marketplace is attributed to the rising request for caller therapeutic drugs coupled with leveraged familial level knowing of diseases and the rising incidence of cancers and familial disorders crossed the globe.
The personalized medicine therapeutics conception is anticipated to witnesser precocious maturation implicit the forecast play owing to the extended usage of pharmacogenomics for processing biopharmaceuticals. Further, the genomic medicine therapeutics conception is anticipated to turn substantially during the forecast play owing to importantly lowered costs of whole-genome sequencing.
North America dominated the marketplace successful 2021 owed to the beingness of cardinal players and their intensive probe for the improvement of caller therapies to find retired curative solutions for assorted diseases.
Read 120 leafage afloat marketplace probe study for much Insights , "Personalized Medicine Market Size, Share & Trends Analysis Report By Product (Personalized Nutrition & Wellness, Personalized Medicine Therapeutics), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Personalized Medicine Market Growth & Trends
Most crab conditions are usually caused by an underlying familial discrepancy and tin origin fatalities with progression. The crab information tin beryllium efficaciously and precisely treated by knowing circumstantial genomic characteristics. For instance, successful May 2020, Qiagen launched QIAseq pan-cancer multi-modal sheet to alteration robust investigation of genomic characteristics of crab subjects to deduce a wide spectrum of applications successful precision medicine for the profiling of coagulated tumors and heme malignancies.
The marketplace is positively driven by advancements successful NGS technologies and extended probe connected the quality genome. There has been an expanding absorption connected utilizing NGS to deduce personalized medicine outcomes that could perchance beryllium utilized for the attraction of crab and uncommon familial disorders. For instance, Illumina declared that it volition contiguous its aggregate oncology probe abstracts astatine the European Society of Medical Oncology (ESMO) yearly gathering successful Paris. Their probe enables personalized crab attraction utilizing broad genomic profiling of biopsies to lucifer subjects to the imaginable drugs and immunotherapies.
Telemedicine facilitates virtual oregon telephonic objective proposal to assistance carnal convenience. Telemedicine is progressively trending, particularly aft the COVID-19 pandemic. Government and probe institutes are taking important efforts to heighten the applications of personalized telemedicine. For instance, successful August 2022, the National Cancer Institute declared a assistance of USD 23 million for 5 years to assistance the motorboat of Telehealth Research Centers of Excellence (TRACE) crossed the U.S. The programme was launched with the enactment of the White House Cancer Moonshot to question improvement and advancements successful telehealth transportation for crab attraction with a ngo to leverage wellness equity.
Molecular imaging systems and aesculapian devices are playing a superior relation successful emerging advancements successful personalized medicine. They efficaciously leverage the applications of personalized medicine successful the attraction of antithetic types of cancers. For instance, successful June 2022, GE Healthcare declared the merchandise of high-end molecular imaging by utilizing gallium-68 radioisotope for the diagnosis and monitoring of prostate crab truthful arsenic to leverage entree to precision wellness and theranostics for personalized prostate crab attraction astatine an aboriginal signifier of crab progression.
The marketplace is successful the maturation signifier owed to emerging technological advancements on with accordant concern efforts specified arsenic collaborations and expansions. For instance, successful December 2021, Biogen Inc., and TheraPanacea declared that they person signed a collaboration that focuses connected advancing integer wellness for personalized medicine successful neuroscience.
Personalized Medicine Market Segmentation
Grand View Research has segmented the planetary personalized medicine marketplace connected the ground of merchandise and region:
Personalized Medicine Market - Product Outlook (Revenue, USD Billion, 2018 - 2030)
Personalized Medicine Diagnostics
Personalized Medicine Therapeutics
Personalized Medical Care
Personalized Nutrition & Wellness
Personalized Medicine Market - Regional Outlook (Revenue, USD Billion, 2018 - 2030)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
List of Key Players of Personalized Medicine Market
GE Healthcare
Illumina, Inc.
ASURAGEN, INC.
Abbott
Dako A/S
Exact Sciences Corporation
Danaher Corporation (Cepheid, Inc.)
Decode Genetics, Inc.
QIAGEN
Exagen Inc.
Precision Biologics
Celera Diagnostics LLC
Biogen
Genelex
International Business Machines Corporation (IBM)
Genentech, Inc.
23andMe, Inc.
Check retired much related studies published by Grand View Research:
Personalized Retail Nutrition And Wellness Market - The planetary personalized retail nutrition and wellness marketplace size is expected to scope USD 3.3 billion by 2028, according to a caller study by Grand View Research, Inc. The marketplace is expected to grow astatine a CAGR of 7.9% from 2021 to 2028. The marketplace maturation tin beryllium attributed to the factors specified arsenic driving nutrition strategies, increasing absorption connected nutrigenomics and nutrigenetics, a displacement successful the healthcare paradigm, and integration of information subject for the improvement of innovative personalized nutrition.
Regenerative Medicine Market - The planetary regenerative medicine marketplace size is expected to scope USD 57.08 billion by 2027, increasing astatine a CAGR of 11.27% implicit the forecast period, according to a caller study by Grand View Research, Inc. Recent advancements successful biologic therapies person resulted successful a gradual displacement successful penchant toward personalized medicinal strategies implicit the accepted attraction approach. This has resulted successful rising R&D activities successful the regenerative medicine arena for the improvement of caller regenerative therapies.
Tumor Profiling Market - The planetary cancer/tumor profiling marketplace size is expected to scope USD 21.08 billion by 2025, exhibiting a CAGR of 8.8%, according to a caller study by Grand View Research, Inc. Rising probe successful the exertion of omics sciences successful crab detection is anticipated to power marketplace growth.
Browse done Grand View Research's Biotechnology Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based marketplace probe and consulting company, provides syndicated arsenic good arsenic customized probe reports and consulting services. Registered successful California and headquartered successful San Francisco, the institution comprises implicit 425 analysts and consultants, adding much than 1200 marketplace probe reports to its immense database each year. These reports connection in-depth investigation connected 46 industries crossed 25 large countries worldwide. With the assistance of an interactive marketplace quality platform, Grand View Research Helps Fortune 500 companies and renowned world institutes recognize the planetary and determination concern situation and gauge the opportunities that prevarication ahead.
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