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Global personalized medicine market: 12% CAGR growth expected between 2012-2016
Future Prospects of Global Personalized Medicine Market 2012-2016 - a new market research report on 2014-04-29 03:44:04
The Global Personalized Medicine market is to grow at a CAGR of 12.07 percent over the period 2012-2016. One of the key factors contributing to this market growth is the significant growth of the Targeted Biologics segment. The Global Personalized Medicine market has also been witnessing an increase in the number of mergers ad acquisitions. However, the low awareness of personalized medicine in developing countries could pose a challenge to the growth of this market.

Over the years, the Global Personalized Medicine market has been witnessing the emergence of various tools and technologies from the reputed vendors. For instance, AssureRx Health Inc. Launched GeneSightRx ADHD in May 2012, a personalized medicine test for the growing number of children and adults diagnosed with ADHD. Moreover, Bristol-Myers Squibb Co. Collaborated with MMRF in December 2012 for advanced personalized medicine for multiple Myeloma. Further, Alacris Theranostics GmbH entered into an agreement with GlaxoSmithKline plc in November 2012 to use ModCell system for early stage cancer research. Further, AltheaDx Inc. Launched FLT3 Mutation Assay in October 2012. Agendia N.V. Launched ColoPrint microarray-based 18-gene expression signature in June 2012 for predicting the risk of distant recurrence for stage II colon cancer patients. The European Medicines Agency approved Zelboraf, manufactured by F. Hoffmann-La Roche Ltd., in December 2011.

One of the key drivers in this market is the significant growth of the Targeted Biologics segment. This segment is one of the significant segments of personalized medicine and is expected to signify about 25 percent of the commercialized drugs during the forecast period.

One of the major challenges is patients´ limited awareness about personalized medicines in developing countries. Most of the patients in developing countries such as India and China are not fully aware of the recent developments in personalized medicines.

The key vendors dominating this space include Abbott Laboratories, AstraZeneca plc, F. Hoffmann-La Roche Ltd., Novartis AG, Pfizer Inc., and Sanofi S.A. The other vendors mentioned in the report are Affymetrix Inc., Agendia B.V., Agilent Technologies Inc., Amgen Inc., Astellas Pharma Inc., Baxter International Inc., Bayer AG, BG Medicine Inc., Biocartis S.A, Biogen Idec Inc., Boehringer Ingelheim GmbH, Bristol-Myers Squibb Co., Celgene Corp., Daiichi Sankyo Co. Ltd., Danaher Corp., Eli Lilly and Co., Evotec AG, GE Healthcare Ltd., Genelex Corp., GlaxoSmithKline plc, Hologic Inc., Johnson & Johnson, Laboratory Corporation of America Holdings, Life Technologies Corp., Merck KGaA, Mitsubishi Tanabe Pharma Corp., Myriad Genetics Inc., Novartis AG, PerkinElmer Inc., Pfizer Inc., Quest Diagnostics Inc., Sanofi S.A., Siemens Healthcare, Sigma-Aldrich Corp., Takeda Pharmaceutical Co. Ltd., Teva Pharmaceutical Industries Ltd., Thermo Fisher Scientific Inc., and Transgenomic Inc.

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