U.S personalized medicine market is expected to grow at the CAGR of 7.5%

Market Scenario:

The Personalized Medicine Market 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 or sanction of new drugs. According to the industry consensus, personalized medicine will not only form an integral part of typical medicine in the next few years, it is also anticipated 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 epic business model to more–targeted and effective healthcare solutions. U.S personalized medicine market is expected to grow at the CAGR of 7.5% during the forecasted period.

Market Segments:

The U.S. Personalized Medicine Market is segmented on the basis of product, application and end users.

• Based on the Product, the market has been segmented as diagnostic, therapeutics, medical care and nutrition and wellness

• Based on Application, the market has been segmented into diagnosis and intervention, drug development and usage, cancer genomics

• Based on End Users, the market has been segmented as hospitals, molecular diagnostic laboratories and testing centers, academic institutes, bio and health informatics companies

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Study objectives:

• To measure the U.S. personalized medicine market, which has experienced high growth year to year.

• To analyze the current personalized medicine business model in United States and to evaluate the commercial use of the personalized medicine technology platform.

• To analyze and forecast the market data for each sub-segment for the next 6 years.

• To provide country level analysis of the market with respect to the current market size and future growth prospect.

• To analyze individual submarkets for personalized medicine in the United States in terms of technology, products, services, application areas and geography.

• To track and analyze developments which are competitive in nature such as joint ventures, strategic alliances, mergers and acquisitions, new product developments along with research and developments currently taking place in the personalized medicine market of the U.S.

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Key players of U.S. Personalized Medicine Market:

Key players profiled in the report are

• Laboratory Corporation of America
• Quest Diagnostics
• Abbott
• Becton Dickinson & Co.
• Siemens Healthcare Diagnostics Inc.
• GE Healthcare
• Pfizer Inc.
• Sanofi
• CardioDx Inc.
• Asuragen Inc.
• Bristol-Myers Squibb

Intended Audience

• U.S. Personalized medicine providers, manufacturers & suppliers
• Contract Research Organizations (CROs)
• Research and Development (R&D) companies
• Government research laboratories
• Independent research laboratories
• Government and Independent regulatory authorities
• Market research and consulting service providers
• Academic institutes and universities

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Regional analysis

U.S. accounts for the maximum market share of the personalized medicine market and the market is expected to increase continuously in coming years. This can be attributed to increasing pool of cancer patients along with high healthcare per capita expenditure. Advancing technologies within the liquid biopsy or cancer market is also driving the market and will see strategic growth over the next five years. The two segments of the liquid biopsy market are tumor cell enrichment products and tumor cell detection technologies which are expected to command the maximum market share.

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This release was published on openPR.