Global Personalized Medicines Strategic Market Report 2023: Market to Surpass $740 Billion by 2030 - Genomics to Dictate Advancement of Personalized Medicines

DUBLIN, Feb. 16, 2023 /PRNewswire/ -- The "Personalized Medicines: Global Strategic Business Report" report has been added to  ResearchAndMarkets.com's offering.

Global Personalized Medicines Market to Reach $740.3 Billion by 2030

In the changed post COVID-19 business landscape, the global market for Personalized Medicines estimated at US$508 Billion in the year 2022, is projected to reach a revised size of US$740.3 Billion by 2030, growing at a CAGR of 4.8% over the analysis period 2022-2030.

Personalized Nutrition & Wellness, one of the segments analyzed in the report, is projected to record a 4.6% CAGR and reach US$437.9 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Personalized Medical Care segment is readjusted to a revised 5.2% CAGR for the next 8-year period.

The U.S. Market is Estimated at $148.6 Billion, While China is Forecast to Grow at 4.5% CAGR

The Personalized Medicines market in the U.S. is estimated at US$148.6 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$130.3 Billion by the year 2030 trailing a CAGR of 4.5% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.

Looking Ahead to 2023

Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.

Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

What`s New?

• Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
• Global competitiveness and key competitor percentage market shares
• Market presence across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and Research Platform
• Complimentary updates for one year

Key Topics Covered:

MARKET OVERVIEW

• Influencer Market Insights
• World Market Trajectories
• Access to Valuable Genetic Information Ushers Transformation in Medicine
• Recent Market Activity
• Market Outlook
• Adoption of Personalized Medicines - A Peek into Developed and Developing Economies
• Increasing Market Availability of Personalized Medicines
• Select Key Approved Personalized Medicines and Associated Biomarkers by Therapeutic Area
• Constraints in Traditional Approach to Treatment Creates Need and Demand for Personalized Medicine
• Economics of Personalized Medicine
• Is Emergence of Personalized Medicine Signaling the End of Blockbusters?
• Personalized Medicines - Global Key Competitors Percentage Market Share in 2022
• Impact of Covid-19 and a Looming Global Recession

MARKET TRENDS & DRIVERS

• Growth Drivers in a Gist
• Key Market Restraints
• Increasing Incidence and Prevalence of CDDs: A Major Growth Driver
• Oncology - A Major Application Market
• Diagnosed Cases of Cancer on the Rise
• World Cancer Statistics: Incidence and Mortality Data
• Growing Cancer Cases in Developing Countries Bodes Well for the Personalized Medicine Market
• Growing Importance of Personalized Drugs for Cancer Treatment
• Ballooning Global Population Offers Significant Growth Opportunities
• Aging Global Population Drives Personalized Medicines
• Increasing Healthcare Spending in Emerging Markets
• Changing Patients' Trends Drive Personalized Medicine
• Technological Advancements and Consumer Push to Drive Personalized Medicine
• Minimizing Adverse Events - A Major Benefit of Personalized Medicines
• Personalized Medicines Brings Disease Prevention Closer to Reality
• Ability to Manage Healthcare Costs Piques Industry and Government Alike
• Potential to Uncover Additional Prospective Targets - A Major Benefit in Pursuit
• Elimination of Invasive Tests Attracts Patients and Doctors towards Molecular Test-based Personalized Medicines
• Genomics to Dictate Advancement of Personalized Medicines
• Companion Diagnostics Drive Personalized Medicine
• Biomarkers as Companion Diagnostics
• Personalized Medicines Help Reducing R&D Costs
• Personalized Medicine - A Corporate Growth Strategy
• Development Pipeline Reveals Promising Picture for Personalized Medicine
• Advancements in Biomedical Imaging to Enhance Personalized Medicines
• Increasing Use of Personalized Medicines Drives Genetic Testing
• Genetic Testing: The Rapidly Growing Segment of Molecular Diagnostics Market
• Next-Generation Sequencing - A Giant Leap in Genome Sequencing
• Single Nucleotide Polymorphism (SNP) - Making Advancements in Personalized Medicine
• Personalized Medicine Goes Beyond DNA Analysis
• Combination Approaches May Mark Future Endeavors
• Need for New Designs in Clinical Trials Emerges in Therapies for Rare Cancers
• Immunotherapy for Cancers - A Potential Breakthrough in the Sector
• Personalized Medicine Industry - Inundated with Data
• Advanced Computing Technologies - The Need of The Hour to Analyze Large Data
• Artificial Intelligence Revolutionizing Personalized Medicine
• Challenges Aplenty for Precision Medicine
• Lack of Clinically Useful Diagnostic Tests - Growth Dampener
• Pricing and Value Dilemma Haunts Personalized Medicines
• Bedside Biopharmaceutical Production to Dramatically Reduce Cost of Personalized Medicine

FOCUS ON SELECT PLAYERS (Total 87 Featured)

• Abbott Molecular, Inc. (USA)
• Beckman Coulter Genomics (USA)
• bioMerieux SA (France)
• Bristol-Myers Squibb Company (USA)
• Dako Denmark A/S (Denmark)
• F. Hoffmann-La Roche Ltd. (Switzerland)
• GlaxoSmithKline plc. (UK)
• Hologic, Inc. (USA)
• Lab 21 Limited (UK)
• Macrogen, Inc. (Korea)
• NeoGenomics Laboratories, Inc. (USA)
• Novartis AG (Switzerland)
• QIAGEN NV (The Netherlands)
• Rosetta Genomics Ltd (Israel)
• Thermo Fisher Scientific Inc. (USA)

For more information about this report visit https://www.researchandmarkets.com/r/xco4y7

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