Personalized Medicine Market is expected to reach US$ 848.01 Bn. at a CAGR of 6.21% during the forecast period 2029.
Personalized Medicine Market Overview
The market overview report provides a comprehensive analysis of the dynamics of the Personalized Medicine industry, including insights into the competition and rivalry among industry players. The report offers revenue forecasts for the global, regional, and segment levels of the industry, with a focus on sales forecasting by region and segment. This sales forecasting is a key highlight of the report, providing valuable insights into the expected performance of the industry in various markets.
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Personalized Medicine Market Report Scope and Research Methodology
The report uses a combination of primary and secondary research methods to analyze the Personalized Medicine Market. Primary research involves the collection of data directly from the market through surveys, interviews, and observations. This type of research provides first-hand information about the market, which is valuable for understanding customer behaviour and preferences, market trends, and other important aspects of the industry. Secondary research involves the collection of data from published sources such as industry reports, company websites, and news articles. This type of research provides a broad overview of the market and can be used to gather information about industry trends, market size, and key players.
The report also contains a thorough, market-focused, and commercial analysis of the Personalized Medicine market that makes use of a number of research methodologies. Region, revenue, financial situation, portfolio, implemented technology, and mergers and acquisitions were all taken into consideration when analysing the market. The market dynamics, competitive environment, and development prospects are all thoroughly understood thanks to this thorough investigation.
Personalized Medicine Market Regional Insights
The report offers an in-depth analysis of the factors influencing growth, limitations, future prospects, and competition within the industry across all regions. The market is classified by region into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Personalized Medicine Market Segmentation
Based on Product, the personalized nutrition & wellness segment held the largest share in 2021. It is expected to grow at a CAGR of 8.3% during the forecast period. Rising awareness of consuming healthy food for wellness, an increase in adoption of customized diet plans are considered to be the major factors propelling the segment growth. A wide range of nutrition & wellness products are available which play a significant role in boosting segment growth. In March 2021, DSM partnered with Mixfit to provide personalized nutrition solutions by combining Artificial Intelligence (AI) technology.
Based on Technology, the drug discovery segment is expected to dominate the global market. Recent technological advancements in drug discovery and pharmacogenomics contribute to boosting the market growth. Pharmacogenomics is used in predicting the efficacy of a drug. Pharmacogenomics helps in focusing effective therapy on smaller patient subpopulations that, although demonstrate the same disease phenotype but have distinct genetic profiles. The segment is estimated to grow at a CAGR of 8.7% during the forecast period. In October 2021, Qiagen announced its launch of novel RNA-seq library preparation solutions for next-generation sequencing thereby expanding its portfolio and user base significantly.
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Personalized Medicine Market Key Players
• Abbott Laboratories
• Merck & Co., Inc.
• AstraZeneca
• Pfizer, Inc.
• GlaxoSmithKline plc.
• Novartis AG
• Amgen, Inc.
• Bayer AG
• Mylan N.V.
• Eli Lilly and Company
• Bristol Myers Squibb Co.
• Daiichi Sankyo Company, Ltd.
• Biogen, Inc.
• Johnson & Johnson Services, Inc.
• F. Hoffmann-La Roche Ltd.
• Thermo Fisher Scientific, Inc.
• Novo Nordisk A/S
• Sanofi Genzyme.
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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