Global Personalized Medicine Market
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Global Personalized Medicine Market is expected to reach $XX Mn by 2026 from $XX Mn in 2019, at a CAGR of 10.5% during forecast period.
Global Personalized Medicine Market Overview:
Personalized medicine is an emerging field of, medicine which is also referred to as precision medicine. This medical model uses an individual’s genetic profile to guide decisions made in regard to the prevention, diagnosis, and treatment of disease. Knowledge of a patient's genetic profile can help doctors select the proper medication or therapy and administer it using the proper dose or regimen. Personalized medicine is being advanced through data from the Human Genome Project.
Global Personalized Medicine Market Dynamics:
Dominantly increasing cases of various cancers worldwide primarily drive the market growth.
The rising prevalence of cancer and the rising demand for personalized cancer therapeutics boost the market growth. Growing incidences of technological advancements owing to the accessibility of large scale human genome databases including Next Generation Sequencing (NGS) positively impacts market growth. The use of advanced computational tools and the development of innovative genetic technologies help in identifying cancer causes. Recent developments in pharmacogenomics are expected to create a suitable environment for developing drugs, which are specific to one patient or group. Increasing therapeutic applications in the fields like cardio-renal, neurology, antiviral, pulmonary, psychiatry are expected to create potential growth opportunity in forecast years.
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Last Update : Sep 22, 2021 7:22 AM
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