SOURCE: MarketResearch.com

MarketResearch.com

March 15, 2011 11:08 ET

US Market for Personalized Medicine to Grow 12% Annually Through 2015

ROCKVILLE, MD--(Marketwire - March 15, 2011) - MarketResearch.com has announced the addition of RNCOS's new report "Personalized Medicine Market Analysis" to their collection of Biotechnology market reports. For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=6168762

The era of personalized medicine is set to revolutionize the healthcare industry. With the expansion of our knowledge of genetics and molecular biology, personalized approach to medical care is increasingly becoming important. While still in the early stages, personalized medicine is steadily emerging as the new healthcare paradigm. In fact, this paradigm not only promises the improvement of an individual's treatment outcome and reduces healthcare expenditure; but is set to transform the biopharmaceutical and molecular diagnostics markets in the coming years.

According to the new research report "Personalized Medicine Market Analysis," the US market for personalized medicine is anticipated to grow at a CAGR of around 12% during 2009-2015. Growth will be driven by factors, such as treatment costs savings, early detection of diseases, patient compliance, drug safety, and optimization of therapies.

Presently, the industry as a whole is committed to the development of personalized medicines and is commanding more resources and fomenting more corresponding organization change. In fact, strategic alliances, like the Sanofi-Aventis alliance with Scripps Genomic Medicine, are being formed with academic and private research institutions as well as small biotech companies and major pharma companies are increasingly looking for alternative ways to strengthen their pipelines.

The report has found that the market is presently dominated by Oncology applications. However, therapeutic applications of personalized medicines will extend to new therapy areas in the coming years. Further, the US, Europe, China, and Japan are the major geographical markets exhibiting healthy growth rates.

The report provides extensive information and rational analysis of the global personalized medicine market. It has thoroughly examined current market trends, industrial developments, and competitive landscape to enable clients understand the market structure and its progress in coming years. The report also provides an insight into the segment-wise market trends prevailing at the regional level to present an overview of the developments taking place in these segments across the world.

For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=6168762

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