Albany, NY -- (SBWire) -- 09/24/2015 --Precision or personalized healthcare is revolutionizing how medicine is practiced today. Scientific advances have identified a wealth of genetic and protein biomarkers that can be used to identify and associate certain disease states with specific individuals, and now can also predict how patients will respond to particular drugs. To date there are over 85 companion diagnostic FDA approved tests on the market and 500 identified biomarkers. With this diagnostic and prognostic potential, personalized medicine has hit the healthcare industry by storm.
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The core personalized medicine market is made up of companion diagnostics and targeted therapeutics. Combined, these markets were worth over $24 billion in 2012 and will reach $42 billion by 2015 end in the US, which has the most developed market. It is dominated by oncology, cardiovascular and infectious disease treatment and diagnostics. Combined, KellySciPub forecasts that the diagnostic and therapeutic submarket of personalized medicine will hit over $60 billion by 2019 with a CAGR of 8.2%.
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The report is supported by over 317 tables & figures within 279 pages and provides specific details of the cancer, cardiovascular, infectious disease and pharmacogenetics submarkets. Overall, the personalized medicine oncology therapeutics market was worth in the region of $36 billion in 2014, and was mainly dominated by sales of Herceptin, Gleevec, Revlimid, Avastin and Alimta. Due to patent expirations and pipeline therapeutics emerging in the market space, this environment will change over the next five years. The current report reveals specific forecasts for this significant submarket, and also that for cardiovascular, pharmacogenetics and infectious disease. Strategic business and financial analysis is provided as follows:
By Company (e.g., QIAGEN, AFFYMETRIX, ATOSSA GENETICS, NODALITY, deCode /Amgen, CELERA, MYRIAD)
By Geography (US, UK, EU)
By Segment (Targeted therapeutics, Companion Diagnostics)
By Sub-market (Companion diagnostic, targeted cancer therapeutic, medical technology, pharmacogenomics, consumer genomics, molecular diagnostics)
By Therapy (Cancer, Cardiovascular, Infectious Disease)
Over the next five years Kelly Scientific Publications predicts that genetic testing will be a significant first-line assay for many common genetic disorders including lung, colorectal and breast cancer, cardiovascular disease and depression. The top genes that contain genetic mutations that require diagnostic testing include BRCA, CYP2D6, TPMT, CYP2C9 and CYP2C19. A number of the top therapeutics today are influenced metabolically by genetic mutations, such as: Atorvastatin, Clopidogrel, Esomeprazole, Fluticasone/Salmeterol and Etanercept.
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Personalized medicine is an emerging industry, and is predicted to fully integrate into the healthcare system within the next 20 years. Until then, there are many challenges and hurdles facing the market including regulatory and reimbursement issues. The gap between genotypic association with disease and clinical relevance is also a concern; however with increasing advances in technology and computer software programs, personalized medicine will grow strongly.
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Personalized Medicine, Targeted Therapeutics and Companion Diagnostic Market to 2019 - Strategic Analysis of Industry Trends, Technologies, Participants, and Environment
Personalized Medicine, Targeted Therapeutics And Companion Diagnostic Market To 2019 - Strategic Analysis Of Industry Trends, Technologies, Participants, And Environment