Albany, NY -- (SBWIRE) -- 09/21/2012 -- The US market for personalized medicines is predicted to grow at the compounded annual growth rate of 9.5% during 2010 to 2015. This growth in future is expected to be driven by different factors like cost savings on treatments, early diagnosis of disease, drug safety, patient compliance, and optimization of therapies. Currently, America dominates the market for personalized medicine; however, advancement in technology and developments in the field of DNA is expected to establish personalized medicines market in UK, France, India, China, and Japan.
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Developments in technology and increasing research about human DNA is giving emergence to a new segment in healthcare industry called personalized medicines. Therapeutics, diagnostics, and theranostics are the three major segments of this market tailored towards treatment or prevention of diseases. Although global personalized medicine market is in its initial stage, it is expected to influence biopharmaceutical and molecular diagnostics market to a great extent in the near future.
Most corporate are investing huge amount of money for development of this industry due to its tremendous growth potential. About $780 millions have been invested in UK for establishment of institutes for aiding development of clinical applications for fighting cancer, heart diseases, and neurodegenerative disorders. Private research institutions and major pharmaceutical companies are looking forward for alternative ways to strengthen their pipelines.
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This research report also includes complete analysis of current market trends, industry drivers, factors limiting market growth, industry structure, and market projections for upcoming years. Report also provides analysis of recent technological developments in this industry, Porter’s five force model analysis, and complete company profiles of top industry players. This report includes review of micro and macro factors significant for existing market players and new entrants along with detailed value chain analysis.
Some of the major players dominating this industry are Abbott Laboratories, Affymetrix, Agendia BV, Asuragen, Bayer Healthcare, Biogen (Idec), Bristol-Myers Squibb, Celera Diagnostics, Cepheid, Curagen Corp., Dako Denmark A/S, Decode Genetics, DNA Direct Inc, Dxs Ltd., Exact Sciences Corp., Exagen Diagnostics, Genelex Corp, and others.
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