U.S. Personalized Medicine Market Research Report - Forecast To 2027

U.S. Personalized Medicine Market Information, by product (diagnostic, therapeutics, medical care and nutrition and wellness) by application (diagnosis and intervention, drug development and usage, cancer genomics and others), by End users (hospitals, molecular diagnostic laboratories and testing centers, academic institutes, bio and health informatics companies and others)- Forecast to 2027

ID: MRFR/Pharma/2161-HCR | February 2021 | Region: Global | 85 pages

Please note that the assessment period of report has been updated from 2017- 2023 to 2020-2027. Cordially fill Sample form for updated data.

Market Synopsis of U.S. Personalized Medicine Market:


Market Scenario:


The Personalized Medicine Market is the most recent trend in the multibillion–dollar molecular diagnostics industry. Pharmaceutical and biotechnology companies are increasingly turning to personalized medicine in order to improve the drug development process and also to speed up the approval or sanction of new drugs.


According to the industry consensus, personalized medicine will not only form an integral part of typical medicine in the next few years, it is also anticipated to reform the development, testing, marketing and prescription of drugs during the next decade. The big pharmaceutical companies eventually will change their tried and tested epic business model to more–targeted and effective healthcare solutions. U.S personalized medicine market is expected to grow at the CAGR of 7.5% during the forecasted period.


Study objectives:



  • To measure the U.S. personalized medicine market, which has experienced high growth year to year.

  • To analyze the current personalized medicine business model in United States and to evaluate the commercial use of the personalized medicine technology platform.

  • To analyze and forecast the market data for each sub-segment for the next 6 years.

  • To provide country level analysis of the market with respect to the current market size and future growth prospect.

  • To analyze individual submarkets for personalized medicine in the United States in terms of technology, products, services, application areas and geography.

  • To track and analyze developments which are competitive in nature such as joint ventures, strategic alliances, mergers and acquisitions, new product developments along with research and developments currently taking place  in the personalized medicine market of the U.S. 


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


Key players of U.S. Personalized Medicine Market:


Key players profiled in the report 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.


 Segments:


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. 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.


Regional analysis


U.S. accounts for the maximum market share of the personalized medicine market and the market is expected to increase continuously in coming years. This can be attributed to increasing pool of cancer patients along with high healthcare per capita expenditure. Advancing technologies within the liquid biopsy or cancer market is also driving the market and will see strategic growth over the next five years. The two segments of the liquid biopsy market are tumor cell enrichment products and tumor cell detection technologies which are expected to command the maximum market share.


The report for U.S. Personalized Medicine Market by Market Research Future comprises of extensive primary research along with the detail analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of current market scenario which includes past and estimated future market size with respect to value and volume, technological advancement, macro economical and governing factors in the market. The report provides detail information about and strategies used by top key players in the industry. The report also gives a broad study of the different market segments and regions. Intended Audience



  • U.S. Personalized medicine providers, manufacturers & suppliers

  • Contract Research Organizations (CROs)

  • Research and Development (R&D) companies

  • Government research laboratories

  • Independent research laboratories

  • Government and Independent regulatory authorities

  • Market research and consulting service providers

  • Academic institutes and universities 


 



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: Significant Value
  CAGR   2017-2023: 7.5%
  Base Year   2019
  Forecast Period   2023
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered    Product, Application and End Users
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   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
  Key Market Opportunities    Emerging economies
  Key Market Drivers

  • Advancing technologies within the liquid biopsy or cancer
  • Increasing pool of cancer patients


  • Table of Contents

    1 INTRODUCTION

    1.1 DEFINITION

    1.2 SCOPE OF STUDY

    1.2.1 RESEARCH OBJECTIVE

    1.2.2 ASSUMPTIONS & LIMITATIONS

    1.2.2.1 ASSUMPTIONS

    1.2.2.2 LIMITATIONS

    1.3 MARKET STRUCTURE:

    2 RESEARCH METHODOLOGY

    2.1 RESEARCH PROCESS:

    2.2 PRIMARY RESEARCH

    2.3 SECONDARY RESEARCH:

    3 MARKET DYNAMICS

    3.1 DRIVERS

    3.2 RESTRAINTS

    3.3 OPPORTUNITIES

    3.4 MACROECONOMIC INDICATORS

    4 MARKET FACTOR ANALYSIS

    4.1 PORTERS FIVE FORCES MODEL

    4.2 BARGAINING POWER OF SUPPLIERS

    4.3 BARGAINING POWER OF BUYERS

    4.4 THREAT OF NEW ENTRANTS

    4.5 THREAT OF SUBSTITUTES

    4.6 INTENSITY OF RIVALRY

    5 U.S. PERSONALISED MEDICINE MARKET, BY PRODUCT

    5.1 DIAGNOSTIC

    5.2 THERAPEUTICS

    5.3 MEDICAL CARE

    5.4 NUTRITION AND WELLNESS

    5.5 OTHERS

    6. U.S. PERSONALISED MEDICINE MARKET, BY APPLICATION

    6.1 DIAGNOSIS AND INTERVENTION

    6.3 DRUG DEVELOPMENT AND USAGE

    6.4 CANCER GENOMICS

    6.5 OTHERS

    7. U.S. PERSONALISED MEDICINE MARKET, BY END USERS

    7.1 HOSPITALS

    7.2 MOLECULAR DIAGNOSTIC LABORATORIES AND TESTING CENTERS

    7.3 ACADEMIC INSTITUTES

    7.4 BIO AND HEALTH INFORMATICS COMPANIES

    7.4 OTHERS

    8. U.S. PERSONALISED MEDICINE MARKET, BY REGION

    8.1 U.S.

    8.1.1 INTRODUCTION

    9. COMPETITIVE LANDSCAPE

    9.1 MAJOR STRATEGIES ADOPTED BY MARKET PLAYERS

    9..1.1 STRATEGIC PARTNERSHIP

    9..1.2 MERGER & ACQUISITION

    10 COMPANY PROFILE

    10.1 ABBOTT

    10.1.1 OVERVIEW

    10.1.2 PRODUCT OVERVIEW

    10.1.3 FINANCIALS

    10.1.4 KEY DEVELOPMENTS

    10.2 BECTON DICKINSON & CO.,

    10.2.1 OVERVIEW

    10.2.2 PRODUCT OVERVIEW

    10.2.3 FINANCIALS

    10.2.4 KEY DEVELOPMENTS

    10.3 GE HEALTHCARE

    10.3.1 OVERVIEW

    10.3.2 PRODUCT OVERVIEW

    10.3.3 FINANCIALS

    10.3.4 STRATEGY

    10.3.5 KEY DEVELOPMENT

    10.4 LABORATORY CORPORATION OF AMERICA

    10.4.1 OVERVIEW

    10.4.2 PRODUCT OVERVIEW

    10.4.3 FINANCIALS

    10.4.4 KEY DEVELOPMENTS

    10.5 PFIZER

    10.5.1 OVERVIEW

    10.5.2 PRODUCT OVERVIEW

    10.5.3 FINANCIALS

    10.5.4 KEY DEVELOPMENTS

    10.6 OTHERS

    List of Tables

    TABLE 1 U.S. PERSONALISED MEDICINE MARKET, BY PRODUCT, 2020-2027 (USD MILLION)

    TABLE 2 U.S. PERSONALISED MEDICINE MARKET, BY APPLICATION, 2020-2027 (USD MILLION)

    TABLE 3 U.S. PERSONALISED MEDICINE MARKETBY END USERS 2020-2027 (USD MILLION)

    TABLE 4 U.S. PERSONALISED MEDICINE MARKET, BY REGION 2020-2027 (USD MILLION)

    List of Figures

    FIGURE 1 RESEARCH PROCESS

    FIGURE 2 PORTERS FIVE FORCES MODEL

    FIGURE 3 U.S. PERSONALISED MEDICINE MARKET, BY PRODUCT

    FIGURE 4 U.S. PERSONALISED MEDICINE MARKET, BY APPLICATION

    FIGURE 5 U.S. PERSONALISED MEDICINE MARKET, BY END USERS

    FIGURE 6 U.S. PERSONALISED MEDICINE MARKET, BY REGION

    FIGURE 7 U.S. PERSONALISED MEDICINE MARKET: COMPANY SHARE ANALYSIS, 2020 (%)