Scienza e Tecnologia
Personalized Medicine Market Size Worth $796.8 Billion by 2028 - Grand View Research, Inc.
According to Grand View Research, Inc., the global personalized medicine market is anticipated to account for USD 796.8 billion by 2028 and is projected to expand at a CAGR of 6.2% from 2021 to 2028. Personalized medicine therapy identifies the biomarkers in a patient to curate tailored treatment plans. It is usually used in treating rare genetic diseases and cancer. The market is driven by the rising burden of genetic diseases and different types of cancers. Furthermore, a huge flux of investments in healthcare IT and R&D activities are bolstering the market growth. In addition, the onset of the COVID-19 pandemic took the market to a new pedestal, with greater attention and effort to the development of personalized medicines.
In markets such as Latin America and Asia Pacific are showcasing massive signs of development in developing R&D infrastructure. New strides are being made in the field of bioinformatics and active peer levels discussions. This will sustain the medium to long-term growth of this industry. Moreover, the key companies are keen on launching FDA-approved companion diagnostic tests (CDx) in response to the growing market demand. For instance, Roche in October 2020 received the U.S. FDA approval for its Cobas EGFR Mutation Test v2 as a (CDx) for the treatment of specific lung cancer.
Grand View Research has segmented the global personalized medicine market based on product and region:
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
Grand View Compass | Astra ESG Solutions
Follow Us: LinkedIn | Twitter
Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg