SOURCE: MarketResearch.com

MarketResearch.com

February 16, 2012 05:08 ET

Market Research Projects US Personalized Medicine Market Growth at 9.5% CAGR Through 2015

ROCKVILLE, MD--(Marketwire - Feb 16, 2012) - MarketResearch.com has announced the addition of the new report "Personalized Medicine Market Analysis," to their collection of Biotechnology market reports. For more information, visit http://www.marketresearch.com/RNCOS-v3175/Personalized-Medicine-6746156/

With the increasing knowledge of human DNA, a new segment called personalized medicines has emerged in the healthcare industry, which includes therapeutics, diagnostics, and theranostics tailored towards the treatment or prevention of disease. Even though personalized medicines are in their nascent stages, it is expected to transform the biopharmaceutical and molecular diagnostics markets in the coming years.

According to "Personalized Medicine Market Analysis," the US market for personalized medicine is anticipated to grow at a CAGR of around 9.5% during 2009-2015. The growth will be driven by factors, such as treatment cost savings, early detection of diseases, patient compliance, drug safety, and optimization of therapies.

The US has the major share in the global personalized medicine market. But with the advancements, countries like the UK, France, Germany, India, China, and Japan have also been trying to establish themselves in the market. In order to promote the development of personalized medicines, huge money is being invested. For instance, US$780 Million have been invested in the UK to establish an institute for aiding the development of clinical applications to fight cancer, heart diseases, and neurodegenerative disorders.

Strategic alliances, like the Abbott Laboratories with Pfizer are also being formed. Academic and private research institutions as well as small biotech and major pharmaceutical companies are increasingly looking for alternative ways to strengthen their pipelines.

The research reveals that personalized medicines for cancer are dominating the market, accounting for more than half of the total personalized medicines which are commercially available. The therapeutic applications of personalized medicines have been extending to new areas, like HIV, cardiovascular disorders, neurological disorders, etc. It is expected that these applications will grab a bigger piece of the pie in the coming years.

Providing an extensive information and rational analysis of the global personalized medicine market, the research report thoroughly examines current market trends and industrial developments to enable clients with a proper understanding of the market structure and its future progress. The study also provides an insight into the segment-wise competitive landscape, which includes the profiles of Pharmaceutical/Biotech, Diagnostic, IT/Informatics, and Research Tool companies across the globe.

For more information, visit http://www.marketresearch.com/RNCOS-v3175/Personalized-Medicine-6746156/

About MarketResearch.com

MarketResearch.com is the leading provider of global market intelligence products and services. With over 300,000 research reports from more than 700 top consulting and advisory firms, MarketResearch.com offers instant online access to the world's most extensive database of expert insights on global industries, companies, products, and trends. For more information, call Veronica Franco at 240-747-3016 or visit www.MarketResearch.com.

Contact Information

  • Contact:
    Veronica Franco
    MarketResearch.com
    Email Contact
    240.747.3016