Global genomic medicine market is expected to show robust growth with an impressive CAGR in the forecast period, 2016-2026 on the account of rising inclination for the personalized medicine. The market is also subjected to the anticipated growth on the backbone of rising interest in the biomarkers identification for therapy, diagnosis, and prognosis for personalized medicine development. These methods provide more effective and increases the efficiency for the pharmaceuticals and thus driving the future growth of the global genomic medicine market in the upcoming five years. Moreover, advancing technology and the possibility of the extended research for the identification and monitoring of different biomarkers that can be used for pharmacogenomics too, are also substantiating the growth of the global genomic medicine market in the next five years. Moreover, the increasing research and advancing pharma industry is aiding the growth of the global genomic medicine market in the future five years. Additionally, rising government initiatives, personal investments and increased applications of the genomic studies in the healthcare sector is also supporting the growth of the global genomic medicine market in the future five years. Although, lack of trained technician, slower FDA approvals, and prolonged processes of the clinical trials may put a mild restraint on the growth of the global genomic medicine market.
Genomic medicine or known as personal medicine are the pharmaceutical drugs that are specifically designed with the genomic information from the DNA, and protein profiling and their functionality meanwhile understanding their interaction with the human health. These medicines have the ability to provide the details of typical biological information of individual and thereby using the information to design the respective patient’s treatment processes and pharmaceutical drugs.
The global genomic medicine market is segmented by application, end user, competitive landscape, and regional distribution. Based on application, the market is further fragmented into oncology, cardiology, endocrinology, rare genetic disorders, and others. Oncology sub-segment is anticipated to hold the largest revenue shares of the market and dominate the market segment on the account of rapidly increasing instances of cancer and rising number of cancer patient. Various genomic studies are carried out for the diagnosis, analysis, and prognosis along with the treatment for the cancer cells. Genomic medicines specialized for the cancer patients are evolving and its utilization is increasing, thereby supporting the growth of the global genomic medicine market in the upcoming five years.
Holding the major shares of the global genomic medicine market are Genome Medical, Inc., BioMed Central Ltd, Aevi Genomic Medicine, Inc., Congenica Ltd., Deep Genomics, Editas Medicine, Inc., Cleveland Clinic, among others. Market players are actively involved in the research and technological development in the product developments. The advanced technology has made it possible for the industry to provide excellent services through genomic medicine. Further advancement would aid the market value and brand establishment in the future five years.
Years considered for this report
Historical Years2016 – 2019
Base Year2020
Estimated Year2021
Forecast Period2022 – 2026
Objective of the Study
- To analyze the historical growth of the market size of global genomic medicine market from 2016 to 2019.
- To estimate and forecast the market size of global genomic medicine market from 2020 to 2026 and growth rate until 2026.
- To classify and forecast global genomic medicine market based on application, end user, competitional landscape, and regional distribution.
- To identify dominant region or segment in the global genomic medicine market.
- To identify drivers and challenges for global genomic medicine market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global genomic medicine market.
- To identify and analyze the profile of leading players operating in global genomic medicine market.
- To identify key sustainable strategies adopted by market players in global genomic medicine market.
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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers, suppliers, and distributors across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufactures and service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufactures, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of global genomic medicine market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience
- Manufacturers, service providers, end users, and other stakeholders
- Distributors and suppliers of products & services and other stakeholders
- Organizations, forums, and alliances related to genomic medicine
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, service providers, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
