- The global market for personalized medicine technology is projected to be $14.4 billion in 2009 and is expected to reach $29.2 billion in 2014, for a compound annual growth rate (CAGR) of 15.2%
- Pharmacogenomics is a major revenue generating market, contributing about 28.7% to the total personalized medicine market in 2009, at $4.1 billion; this should reach $9.5 billion in 2014, for a CAGR of 18%
- The point-of-care market has the second largest share of the market, at $2.7 billion in 2009. This is expected to increase to $5.1 billion in 2014, for a CAGR of 18%.
Personalized diagnosis and treatment - or personalized medicine - is the most recent trend in the multibillion-dollar molecular diagnostics industry. Pharmaceutical and biotechnology companies are increasingly turning to personalized medicine in order to improve the drug development process and also to speed up the approval of new drugs.
According to the industry consensus, personalized medicine will not only form an integral part of mainstream medicine in the next few years, it is also expected to reform the development, testing, marketing and prescription of drugs during the next decade. The big pharmaceutical companies eventually will change their tried-and-tested blockbuster business model to more-targeted and effective healthcare solutions.
Several diagnostic and life-science companies have yet to tap the complete personalized medicine market, which is experiencing rapid growth all over the world. A detailed study of the different sub-segments within personalized medicine is required for existing and new players to develop new strategies to harness the expanding market. This research report will address this need by analyzing market trends, new and available opportunities and the current competitive landscape in the personalized medicine market.
SCOPE OF REPORT
The personalized medicine market is segmented according to products, services, technology, applications and geography. Each section will provide market data, market drivers, trends and opportunities, top-selling products and the profiles of key market players.
Along with the company profiles, the report will feature market tables to provide complete insight on the market. All market tables are categorized according to products, services, technologies, applications and geography. The report also highlights the strategic issues involved in tapping the personalized medicine market, which is reporting double-digit growth year-on-year.
The intended audience includes all the stakeholders (except end-users) of the personalized medicine market: Equipment manufacturers, specialized technology providers, pharmaceutical companies, biotechnology companies and diagnostic companies and physicians.
This report provides all the necessary information for all industry participants to understand the market scenario and develop marketing strategies based on the opportunities highlighted here. The market data and forecasts made up to the year 2014 explain the demand for products and services.
Click for Report details:Personalized Medicine: Technologies and the Global Market