The State of Personalized/Precision Medicine
Personalized/Precision medicine is a field of medicine that uses information about a person’s genes, proteins, and environment to prevent, diagnose, and treat diseases. In cancer, personalized medicine uses specific information about an individual to help diagnose, plan treatment, find out how well treatment is working, or make a prognosis.
The state of personalized/precision medicines market research report covers current and future challenges for the development and launch of these medicines.
Key Findings
- More randomized controlled prospective clinical trials are needed to identify proven diagnostic tests that will be reimbursed alongside the use of personalized medicine.
- The biggest challenge in developing personalized medicine is meeting the regulatory standards of the FDA and EMA.
- Personalized medicine’s sole purpose is to provide treatments that better fit specific patient populations, rather than providing inconsistent results in a broader patient population.
- Pricing and reimbursement are among the biggest challenges in personalized medicine, as for the treatment to be available for patients, the diagnostic must also be reimbursed.
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Personalized/Precision Medicines Market Drivers
Some of the market drivers of the personalized/precision medicines market include:
- Rising aging population
- Increased emphasis on cost-effective healthcare
- Availability of new technologies
- Significant investments in personalized medicine
- Increased focus on value-based healthcare models
- Focus on preventative medicine
- The popularity of targeted therapies
- Evolving regulations
- Increased biomarker and targeted therapy R&D
The global population is aging due to improvements in life expectancy because of better healthcare, medical advances in treating diseases, and improved sanitation. However, the overall level of health has not improved, and the burden of disease has moved from tackling infectious diseases to managing long-term conditions such as diabetes, cardiovascular diseases, and cancer.
Advantages of Personalized Medicine
Some of the advantages that personalized medicines can bring to patients are listed below:
- More efficient selection of the right treatment path
- Cost-effectiveness for the healthcare system
- Better optimal dosing regimens
- Enhancement of quality of life
- Minimization of adverse drug reactions
- Increased prevention and earlier intervention possibilities
- Increased treatment options
The main advantage of personalized medicine is that it allows more efficient selection of the right treatment path. By enabling each patient to receive earlier risk assessment and a more efficacious tailored treatment, personalized medicine is expected to transform healthcare.
Key Therapy Areas in the Personalized/Precision Medicines Market
The key therapy areas in the personalized/precision medicines market are oncology, respiratory, hematology, infectious diseases, ophthalmology, metabolic, central nervous system, cardiovascular, gastrointestinal, musculoskeletal & rheumatology, and dermatology. Oncology is the largest segment in the personalized/precision medicine market followed by respiratory and hematology.
Personalized/Precision Medicines Market Analysis by Therapy Areas
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Key Players in the Personalized/Precision Medicines Market
Some of the key players in the personalized/precision medicines market are 23andMe, Adaptive Biotechnologies, Ambry Genetics Corp, Astellas, AstraZeneca, Baxalta, BeiGene, Berg Health, BrainStorm Cell Therapeutics, Bristol-Myers Squibb, Catabasis, Clovis Oncology, Denovo Biopharma, Eli Lilly, Foundation Medicine, GenSight Biologics, and IgDraSol.
Personalized/Precision Medicines Market Report Overview
| Key Therapy Areas | Oncology, Respiratory, Hematology, Infectious Diseases, Ophthalmology, Metabolic, Central Nervous System, Cardiovascular, Gastrointestinal, Musculoskeletal & Rheumatology, and Dermatology |
| Key Players | 23andMe, Adaptive Biotechnologies, Ambry Genetics Corp, Astellas, AstraZeneca, Baxalta, BeiGene, Berg Health, BrainStorm Cell Therapeutics, Bristol-Myers Squibb, Catabasis, Clovis Oncology, Denovo Biopharma, Eli Lilly, Foundation Medicine, GenSight Biologics, and IgDraSol |
Scope
GlobalData’s The State of Personalized/Precision Medicine combines key opinion leader insight with in-house analyst expertise and research to provide an insight-rich look at personalized and precision medicine in the US, Europe, and Asia.
Components of the report include:
- Definition of Personalized/Precision Medicine—Key attributes of personalized/precision medicine, examining and contrasting definitions by regulatory bodies and KOL respondents.
- Personalized Medicine—Impact on Healthcare—Key factors to impacting healthcare for patients and stakeholders providing respondent mix by region and organization size.
- Marketed products—Detailed information is provided for key personalized/precision medicines, including case studies for marketed oncology and rare disease therapeutics.
- Pipeline products—The diverse Phase III pipeline is presented, including detailed information on the key candidate’s mechanism of action and clinical trial parameters.
- Investment in Personalized Medicine—Investment in personalized medicine by indication and clinical trial design and approaches are presented, with case studies for three ongoing oncology trials being considered.
- Market Opportunities and Challenges—Key areas of opportunity and roadblocks in developing, launching, and gaining reimbursement are analyzed by geography, company size, and seniority level.
- Emerging Trends—Critical new trends, including the use of advanced digital technologies, are examined.
Reasons to Buy
- Develop business strategies by understanding the global trends shaping and driving the personalized/precision medicines market
- Formulate effective sales and marketing strategies by understanding the competitive landscape of various competitors in a niche therapeutic space.
- Identify areas of unmet need within the personalized/precision market to help drive research and development towards future market opportunities.
- Gain insights to help plan and design your clinical trials.
- Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments, and strategic partnerships.
- Identify key funding and partnership strategies.
Key Players
Table of Contents
Frequently Asked Questions
The key therapy areas in the personalized/precision medicines market are oncology, respiratory, hematology, infectious diseases, ophthalmology, metabolic, central nervous system, cardiovascular, gastrointestinal, musculoskeletal & rheumatology, and dermatology.
Some of the key players in the personalized/precision medicines market are 23andMe, Adaptive Biotechnologies, Ambry Genetics Corp, Astellas, AstraZeneca, Baxalta, BeiGene, Berg Health, BrainStorm Cell Therapeutics, Bristol-Myers Squibb, Catabasis, Clovis Oncology, Denovo Biopharma, Eli Lilly, Foundation Medicine, GenSight Biologics, and IgDraSol.
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