ID: MRFR/Pharma/10195-HCR | 85 Pages | Author: MRFR Research Team | May 2023
The U.S. Personalized Medicine Market is expected to reach USD 27,458 Million by 2030 at 8.6% CAGR during the forecast period 2022-2030.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.
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.
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.
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.
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