U.S. Personalized Medicine Market is Expected to Grow at 7.5% CAGR during 2022-2030

Pune, India, May, 2017 /MRFR Press Release/- Market research future has a half cooked research report on U.S. Personalized Medicine market. The U.S. Personalized Medicine market is growing at an average rate and is expected to grow further its growth by the end of 2030.

Market Highlights

The U.S. Personalized Medicine market has been evaluated as average growing market and expected that the market will reach high growth figures in coming years. A factsheet published by the WHO states that about 17.5 million people die due to cancer and other diseases every year, which is about 31% of the deaths across the globe. These alarming statistics are the obvious reason for growth of the U.S. Personalized Medicine market. Major factors driving the growth of this market include growing occurrence of autoimmune diseases during the forecast period and various other disease. Individualized, targeted or personalized medicine aims to increase the efficacy of therapeutics via genetic testing and companion diagnostics. Personalized therapeutics and associated companion diagnostics are more specific and effective thereby giving pharma/biotech companies an important advantage to recuperate R&D costs. Personalized medicine reduces the frequency of adverse drug reactions and therefore has a dramatic impact on health economics. Developmental and diagnostic companies benefit from lower discovery and commercialization costs and more specific market subtypes.

Test the market data and market information presented through more than 30 market data tables and figures spread over 60 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “U.S. Personalized Medicine market Research Report –Global Forecast to 2023.

U.S. Personalized Medicine market Players:

The major participants of this market are: Laboratory Corporation of America, Quest Diagnostics, Abbott, Becton Dickinson & Co., Siemens Healthcare Diagnostics Inc., GE Healthcare, Pfizer Inc., Sanofi, CardioDx Inc., Asuragen Inc. and Bristol-Myers Squibb.

Segmentation:

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 and others. Diagnostic and therapeutic commands the maximum market share of U.S market and is expected to reach high growth figures in the coming future Based on application, the market has been segmented into diagnosis and intervention, drug development and usage, cancer genomics and others. Further on the basis of end users the market has been segmented as hospitals, molecular diagnostic laboratories and testing centers, academic institutes, bio and health informatics companies and others. Hospitals commands the largest market share followed by molecular centers due to increasing usage in these facilities of these medicines.

Figure 1 U.S. Personalized Medicine Market by End Users, 2016 (%)

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