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Personalized Medicine Market Size, Share, Growth Segmentation, Major Key players | Abbott, Merck & Co., Inc., AstraZeneca
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Top Players Overview:
Some of the leading companies that are operating in the Global Personalized Medicine Market
• Abbott
• Merck & Co., Inc.
• AstraZeneca
• Pfizer Inc.
• GlaxoSmithKline plc
• Novartis AG
• Amgen Inc.
• Bayer AG
• Mylan N.V.
• Eli Lilly and Company
• Bristol-Myers Squibb Company
• Daiichi Sankyo Company, Ltd
• Biogen, Inc
• Johnson & Johnson Services, Inc.
• F. Hoffmann-La Roche Ltd.
• Thermo Fisher Scientific, Inc.
• Genzyme Corporation and players.
Metagenics Launched (PLMC) Personalized Lifestyle Medicine Centre
Metagenics Inc, a health sciences company announced Personalized Lifestyle Medicine Center (PLMC), a clinical research laboratory and patient clinic. The center is designed to employ clinical trial model for building unique data set for patients. The PLMC is expected to drive the global personalized medicine market due to developing therapeutic tools and programs, enabling personalized lifestyle practitioners to meet the need.
The new development in vitamins for personalized health is contributing positively to the global personalized medicine market. for instance, Vitamin Packs Inc., PERSONA nutrition unveiled new vitamin supplements for personalized health. The new supplements have a combination to help decrease the number of capsules a user takes in a day, along with new vegan soft gels and a program planned particularly for bariatric patients.
The new innovations by companies for personalized health along with the announcement of the new center for personalized lifestyle medicine are likely to have a huge impact on the global market which in turn will enable growth for the personalized medicine market.
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R&D Activities to Contribute Majorly to The Market
Personalized medicine counts the individual characteristics of each patient. Personalized medicine uses genetic analysis to identify, and then involves treating the patients. Personalized medicine has a specific treatment approach, which differs from the traditional approach of “one size fits all”, and the treatment regime is designed specifically around the individual/ group of people at risk. In 2018, Precision Therapeutics Inc. announced a merger agreement with Helomics Holding Corporation.
The merger is aimed to combine precision diagnostic and integrated CRO capabilities with the focus to improve patient care and advance the development of innovative clinical products and technologies for the treatment of cancer and other conditions. These factors are expected to encourage growth for the personalized medicine market.
Further, the rising chronic diseases and major investments by biopharmaceutical companies in R&D activities with an aim to launch new personalized medicines are some of the factors propelling the growth of the market. In addition, the clinical efficiency of personalized medicine in oncology along with a rising number of clinical trials for personalized medicine in neurology are the factors that are driving the global personalized medicine market.
North America to Dominate the Global Market
Geographically, the global personalized medicine market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is dominating the global personalized medicine market owing to the regulatory approvals for personalized medicines. It is also expected to lead the personalized medicine market during the forecast period, owing to the higher adoption of personalized medicine as diagnostic and therapeutic agents in the region. Asia Pacific and Middle East & Africa markets are predicted to grow considerably during the forecast period, owing to developing healthcare infrastructure and increasing per capita healthcare expenditure in the regions.
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