Decode genetics logo11/8/2023 Ethical Issues And Protection Of Individual's Genomic Dataģ.2.2.2. Utility Of Novel Databases For Researchģ.2.2.1. Emergence Of Advanced Genome Editing Techniquesģ.2.1.2.2. Technological Advancements To Facilitate R&D For Personalized Medicineģ.2.1.2.1. Targeted And Personalized Healthcareģ.2.1.2. Utility Of Human Genome Data For Clinical Researchģ.2.1.1.1. Market Variables, Trends, & Scopeģ.2.1.1. North America dominated the market in 2022 due to the presence of key players and their intensive research for the development of novel therapies to find out curative solutions for various diseasesĬhapter 3. Further, the genomic medicine therapeutics segment is anticipated to grow substantially during the forecast period owing to significantly lowered costs of whole-genome sequencing The personalized medicine therapeutics segment is anticipated to witness high growth over the forecast period owing to the extensive usage of pharmacogenomics for developing biopharmaceuticals. The overall growth of the market is attributed to the rising need for novel therapeutic drugs coupled with leveraged genetic level understanding of diseases and the rising incidence of cancers and genetic disorders across the globe Personalized Medicine Market Report Highlights Molecular imaging and medical devices play a pivotal role in personalized medicine strides. Notably, the National Cancer Institute's USD 23 million grant aims to elevate telehealth delivery for cancer care. Telemedicine, increasingly prominent post-COVID-19, garners attention for its convenience. Illumina's declaration of presenting oncology research at ESMO underscores personalized cancer care through genomic profiling. The surge in the market is energized by advancements in NGS technologies and robust research into the human genome, with a spotlight on leveraging NGS for personalized medicine outcomes, particularly for cancer and rare genetic disorders. Qiagen's launch of the QIAseq pan-cancer multi-modal panel in May 2020 exemplifies this, enabling comprehensive genomic analysis for precise cancer treatment. The precision in treating conditions like cancer is underscored by insights into specific genomic traits. This system aims to comprehend metabolic variations and their connections to an individual's genome, diet, microbiota, and environmental factors. An illustration of this progress is the microorganism-based personalized medicine model system developed by UMass Chan Medical School in July 2022. The landscape of personalized medicine is continually evolving, driven by extensive research endeavors. This surge is attributed to the escalating prevalence of diseases and the escalating demand for innovative therapeutic drugs. The global personalized medicine market is projected to exhibit remarkable growth, with an estimated size of USD 922.72 billion by 2030 and a compelling CAGR of 7.20% from 2023 to 2030.
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