The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s personalized medicine market report forecasts the personalized medicine market size to grow to $527.19 Billion by 2027, with a CAGR (compound annual growth rate) of more than 10%.

Learn More On The Personalized Medicine Market Report 2023 – https://www.thebusinessresearchcompany.com/report/personalized-medicine-global-market-report

Personalized Medicine Market Size Forecast
The global personalized medicine market is expected to grow from $318.23 billion in 2022 to $352.73 billion in 2023 at a compound annual growth rate (CAGR) of 10.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global personalized medicine market size is expected to reach $527.19 billion in 2027 at a CAGR of 10.5%.

North America held the largest personalized medicine market share, and Asia-pacific was the fastest-growing region in 2022.

Key Personalized Medicine Market Driver ­– Increase In The Prevalence Of Rare Diseases
According to the Journal of the European Academy of Dermatology and Venereology, the population prevalence of uncommon diseases was expected to be 3.5%-5.9% in March 2021. This equates to 260-440 million people affected globally at any given time. Furthermore, according to an article released by Global Genes, a non-profit advocacy organisation based in the United States, 400 million people worldwide suffer from a rare disease. As a result, the rise in the occurrence of uncommon diseases is propelling the personalised medicine market forward.

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Key Personalized Medicine Market Trend – Technological Advancement
To maintain their market position, major players in the personalised medicine sector are implementing innovative technology. For example, Infosys, an India-based provider of information technology, digital, and consulting services, will launch SAP S/4HANA, the SAP Analytics Cloud solution, the SAP C/4HANA®suite, and the SCI platform for personalised medicine solutions for pharmaceutical businesses in June 2020. This technology can be used to shorten the patient treatment lifecycle, plan post-medical therapies, and enable outcome-based billing. This technology will assist pharmaceutical businesses in expediting product launches.

Personalized Medicine Market Segment
1) By Product: Personalized Medicine Diagnostics, Personalized Medicine Therapeutics, Personalized Medical Care, Personalized Nutrition and Wellness
2) By Application: Oncology, Neurology, Blood Transfusion Safety, Diabetes, Autoimmune Diseases, Cardiology, Other Applications
3) By End-use: Hospitals, Diagnostic Centers, Research and Academic Institutes, Other End-Users

Personalized Medicine Market Major Players and Strategies
Major players in the personalized medicine market are GE HealthCare Technologies Inc., Illumina Inc., Abbott Laboratories, Danaher Corporation, Qiagen Inc., Asuragen Inc., Decode Genetics Inc., Exagen Inc., Precision Biologics Inc., Genelex Corp., AstraZeneca, GlaxoSmithKline plc, Novartis AG, Bayer AG, Genentech Inc., and Eli Lilly and Company.

Nestlé Health research, a Swiss nutritional research and health management company, paid an unknown sum for the LivingMatrix personalised medicine platform in January 2020. This acquisition broadens, diversifies, and enriches Nestle Health Science’s personalised medicine platform, allowing for the successful production of personalised treatment programmes and patient outcome tracking. LivingMatric is a personalised medicine platform established in the United States.

The Personalized Medicine Global Market Report 2023 covers regional data on personalized medicine market size, personalized medicine market trends and drivers, opportunities, strategies, and personalized medicine market competitor analysis. The countries covered in the personalized medicine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Personalised medicine is the practise of adapting medical therapy to an individual’s distinct genetic, environmental, and lifestyle factors in order to assist prevent, diagnose, and treat disease. It aims to provide the appropriate therapies to the appropriate patients at the appropriate time.

View More Reports Related To The Personalized Medicine Market –
Personalized Nutrition Global Market Report 2023
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