The global hyper personalized medicine market is anticipated to reach $5.9 trillion by 2031, growing from $2.1 trillion in 2021 at a CAGR of 11.7% from 2022 to 2031.
The development of patient-specific, targeted, and customized treatments offered to people based on more than just a diagnosis is known as hyper personalized medicine. Hyper personalized medicine has the ability to identify rare and potentially life-threatening conditions well in advance of the manifestation of any symptoms through DNA screening. Essentially, this means that these advanced medical techniques not only treat diseases but also help in the prevention of disease susceptibility.
Hyper personalized medicine methods are in high demand worldwide owing to the increase in the prevalence of cancer and the growing number of treatment candidates in clinical trials. Furthermore, the increase in the incidence of genetic diseases is projected to have a significant impact on the growth of the hyper personalized medicine market. The recent advancement in technologies such as ultra-high throughput sequencing and next-generation sequencing is another significant factor that is projected to drive the hyper personalized medicine market growth rate.
The high cost of developing and implementing these advanced medical technologies is one of the primary limitations in the hyper personalized medicine market. This can make them inaccessible to certain sectors of the population, notably those with minimal financial resources or living in areas with inadequate healthcare facilities. Also, there may be worries about patient data privacy and security, which can have an impact on the adoption of hyper personalized medicine.
Growing incidences of respiratory diseases, rapid technological advancements in healthcare, and an aging population are driving the hyper personalized medicine market growth. Furthermore, an increase in the use of therapeutic respiratory devices such as nebulizers, oxygen concentrators, and humidifiers is projected to drive the industry expansion. According to WHO projections, 3.2 million people died worldwide in 2019 from mild to severe Chronic Obstructive Pulmonary Disease (COPD). Furthermore, according to WHO projections, COPD will be the third leading cause of death globally. An increase in the adoption of emerging genomic technologies such as next-generation sequencing (NGS) and high-density microarray, along with favorable government initiatives, is expected to boost the global gene therapy market and, as a result, the hyper personalized medicine market.
The COVID-19 pandemic had an impact on the market for hyper personalized medicine. The market for hyper personalized medicine has seen a modest influence from the COVID-19 pandemic. COVID-19 has raised the demand for customized medicine solutions as patients and healthcare professionals seek more tailored COVID-19 therapies and diagnostics. This has resulted in an increase in R&D of personalized medicine approaches to COVID-19, such as the development of vaccinations that can be customized to individual immune systems. The hyper personalized medicine market involves the application of cutting-edge technologies such as genomics, proteomics, and digital health to tailor medical treatments to individual individuals based on their genetic makeup, lifestyle, and health history. This strategy seeks to enhance patient outcomes while lowering healthcare expenses. The pandemic has disrupted supply chains, hindered clinical trials, and lowered healthcare budgets, all of which have the potential to limit the expansion of the hyper personalized medicine market.
The key players profiled in this report include QIAGEN, Exagen Inc., Abbott, Dako A/S, GE Healthcare, Illumina, Inc., ASURAGEN, INC., Exact Sciences Corporation, Danaher Corporation (Cepheid, Inc.), and Decode Genetics, Inc.
The development of patient-specific, targeted, and customized treatments offered to people based on more than just a diagnosis is known as hyper personalized medicine. Hyper personalized medicine has the ability to identify rare and potentially life-threatening conditions well in advance of the manifestation of any symptoms through DNA screening. Essentially, this means that these advanced medical techniques not only treat diseases but also help in the prevention of disease susceptibility.
Hyper personalized medicine methods are in high demand worldwide owing to the increase in the prevalence of cancer and the growing number of treatment candidates in clinical trials. Furthermore, the increase in the incidence of genetic diseases is projected to have a significant impact on the growth of the hyper personalized medicine market. The recent advancement in technologies such as ultra-high throughput sequencing and next-generation sequencing is another significant factor that is projected to drive the hyper personalized medicine market growth rate.
The high cost of developing and implementing these advanced medical technologies is one of the primary limitations in the hyper personalized medicine market. This can make them inaccessible to certain sectors of the population, notably those with minimal financial resources or living in areas with inadequate healthcare facilities. Also, there may be worries about patient data privacy and security, which can have an impact on the adoption of hyper personalized medicine.
Growing incidences of respiratory diseases, rapid technological advancements in healthcare, and an aging population are driving the hyper personalized medicine market growth. Furthermore, an increase in the use of therapeutic respiratory devices such as nebulizers, oxygen concentrators, and humidifiers is projected to drive the industry expansion. According to WHO projections, 3.2 million people died worldwide in 2019 from mild to severe Chronic Obstructive Pulmonary Disease (COPD). Furthermore, according to WHO projections, COPD will be the third leading cause of death globally. An increase in the adoption of emerging genomic technologies such as next-generation sequencing (NGS) and high-density microarray, along with favorable government initiatives, is expected to boost the global gene therapy market and, as a result, the hyper personalized medicine market.
The COVID-19 pandemic had an impact on the market for hyper personalized medicine. The market for hyper personalized medicine has seen a modest influence from the COVID-19 pandemic. COVID-19 has raised the demand for customized medicine solutions as patients and healthcare professionals seek more tailored COVID-19 therapies and diagnostics. This has resulted in an increase in R&D of personalized medicine approaches to COVID-19, such as the development of vaccinations that can be customized to individual immune systems. The hyper personalized medicine market involves the application of cutting-edge technologies such as genomics, proteomics, and digital health to tailor medical treatments to individual individuals based on their genetic makeup, lifestyle, and health history. This strategy seeks to enhance patient outcomes while lowering healthcare expenses. The pandemic has disrupted supply chains, hindered clinical trials, and lowered healthcare budgets, all of which have the potential to limit the expansion of the hyper personalized medicine market.
The key players profiled in this report include QIAGEN, Exagen Inc., Abbott, Dako A/S, GE Healthcare, Illumina, Inc., ASURAGEN, INC., Exact Sciences Corporation, Danaher Corporation (Cepheid, Inc.), and Decode Genetics, Inc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hyper personalized medicine market analysis from 2021 to 2031 to identify the prevailing hyper personalized medicine market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the hyper personalized medicine market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global hyper personalized medicine market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product
- Hyper Personalized Medicine Diagnostics
- Hyper Personalized Medicine Therapeutics
- Hyper Personalized Medical Care
- Hyper Personalized Nutrition and Wellness
By Application
- Oncology
- Neurology
- Blood Transfusion Safety
- Diabetes
- Autoimmune Diseases
- Cardiology
By End User
- Others
- Hospitals
- Diagnostic Centers
- Research and Academic Institutes
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- United Arab Emirates
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- QIAGEN
- Exagen Inc.
- Abbott
- Dako A/S
- GE Healthcare
- Illumina, Inc.
- ASURAGEN, INC.
- Exact Sciences Corporation
- Danaher Corporation (Cepheid, Inc.)
- Decode Genetics, Inc.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: HYPER PERSONALIZED MEDICINE MARKET, BY PRODUCT
CHAPTER 5: HYPER PERSONALIZED MEDICINE MARKET, BY APPLICATION
CHAPTER 6: HYPER PERSONALIZED MEDICINE MARKET, BY END USER
CHAPTER 7: HYPER PERSONALIZED MEDICINE MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- QIAGEN
- Exagen Inc.
- Abbott
- Dako A/S
- GE Healthcare
- Illumina, Inc.
- ASURAGEN, INC.
- Exact Sciences Corporation
- Danaher Corporation (Cepheid, Inc.)
- Decode Genetics, Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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