Top trends in U.S. Personalized Medicine Market by 2019

The Personalized Medicine Market is the most recent trend in the multibillion–dollar molecular diagnostics industry. Pharmaceutical and biotechnology companies are increasingly turning to personalized medicine in order to improve the drug development process and also to speed up the approval or sanction of new drugs.

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The U.S. Personalized Medicine market has been evaluated as average growing market and expected that the market will reach high growth figures in coming years. A factsheet published by the WHO states that about 17.5 million people die due to cancer and other diseases every year, which is about 31% of the deaths across the globe. These alarming statistics are the obvious reason for growth of the U.S. Personalized Medicine market. Major factors driving the growth of this market include growing occurrence of autoimmune diseases during the forecast period and various other disease. U.S personalized medicine market is expected to grow at the CAGR of 7.5% during the forecasted period.

Various trends are responsible for influencing the growth trajectory of the US personalized medicine market. Personalized medicine promises enormous potential in the treatment of cancer. Personalized medicine has entered the mainstream in the treatment of oncology diseases and is changing the way such diseases are identified, treated and classified. According to the World Health Organization (WHO), cancer is one of the prime reasons for 31% of the deaths globally and each year about 17.5 Mn people die due to cancer. Surging prevalence of cancer across the US is a prime reason for the growth of the US personalized medicine market.

Strong research & development activities in the field of personalized medicine by industrial, academic, and government agencies continue to remain strong in the region which also supports the growth of the US personalized medicine market.

Increasing incidences of autoimmune diseases stimulate the growth of the US personalized medicine market. Also, the government in the US is extending its support in the form of funding for R&D activities; favorable NIH policies create a conducive environment for the growth of the US personalized medicine market.

Furthermore, a growing number of companies from outside the health industry are entering the personalized medicine space which is likely to provide an impetus to the growth of the US personalized medicine market. 

Industry Updates

• In December 2018, researchers at the University of Utah developed a novel personalized medicine tool for inherited colorectal cancer syndrome. The results for the same was published in the journal Genetics in Medicine.
• In December 2018, researchers at the Columbia University have made advancements in personalized medicine that can be helpful in the treatment of kidney diseases.

Segmentation

The US personalized medicine market has been segmented based on product, application, and end user. By product, the US personalized medicine market has been segmented into diagnostic, therapeutics, medical care and nutrition, and wellness and others. The diagnostic and therapeutic segment accounts for the largest share of the market.

By application, the US personalized medicine market has been segmented into diagnosis and intervention, drug development and usage, cancer genomics and others.

By end user, the US personalized medicine market has been segmented into hospitals, molecular diagnostic laboratories and testing centers, academic institutes, bio & health informatics companies, and others. End user-wise, the hospitals segment commands the largest share of the market owing to growing usage in hospitals. The molecular diagnostic laboratories and testing centers segment is the second largest segment.

Competitive Landscape

Personalized medicine is presenting new challenges as well as opportunities to the market players who are continually endeavoring make their mark in the market. Collaborations through mergers, acquisitions, partnerships, and others are key strategies utilized by the market participants to stay competitive and improve their product offerings. Sanofi, Pfizer Inc., Laboratory Corporation of America, Abbott, Becton Dickinson & Co., Quest Diagnostics, GE Healthcare,

CardioDx Inc., Asuragen Inc., Bristol-Myers Squibb, Siemens Healthcare Diagnostics Inc., are the notable players in the US personalized medicine market.

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Precision Medicine Market Segmentation Detailed Study with Forecast Up To 2019

Market Research Future adds the “Global Precision Medicine Market Research Report – Forecast to 2025” report to their unique collection. The major market driving factor for precision medicine are patient’s involvement in personal healthcare, integration of wireless technologies with portable healthcare devices, and increase in genetic diseases (due to mutation, UV rays) among others.

Precision medicine refers to medicines developed as per an individual’s genetic profile that helps as a guide for the prevention, diagnosis and treatment of diseases. The global precision medicine market was valued at $38.92 billion in 2015, and is expected to reach $88.64 billion by 2025. Thus the market is expected to perform a growth at a CAGR of 12.48% from 2015 to 2025.

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The market constraints include potential threat to personal data, high diagnostic cost as a barrier, potential risk of hardware or software failure, stringent regulations and standards, lack of awareness about the possible applications of precision medicine, reimbursement policies and regulatory framework, limited knowledge about the application of test and techniques, lack of research and evidences creating hindrances in its application.

Key Players for Global Precision Medicine Market:

Abbott Laboratories, Almac Group, Ltd., Asuragen, Inc., Biomérieux Sa, Cepheid Inc., Cetics Healthcare Technologies Gmbh, Ge Healthcare, Glaxosmithkline Plc, Johnson & Johnson, Laboratory Corporation Of America Holdings, Medtronic, Novartis, Pfizer Inc., Qiagen, Biobase Gmbh, Quest Diagnostics Inc, Randox Laboratories Ltd., Sanofi Pharma, Takeda Pharmaceutical Company Limited, Teva Pharmaceutical Industries Ltd., Ab-Biotics Sa, Caris Life Sciences, Healthcore, Inc., Ibm, Innventis, Intel Corporation, Molecular Health Gmbh, Precision For Medicine

Key Findings:

• The global precision medicine market is expected to reach USD 88.64 billion by 2025.
• By ecosystem diagnostic tool companies holds the largest market share of precision medicine market and is expected to reach USD 27.56 billion by 2025.
• By sub-market, company diagnostics holds the largest market share of precision medicine market and is expected to reach USD 21.32 billion by 2025.

Segmentation:

Global Precision Medicine market has been segmented on the basis of ecosystem, sub-market, therapeutics and region.

Regional Analysis
Globally North America is the largest market for global precision medicine. Europe is the second-largest market for global precision medicine. The near future market for precision medicine will be dominated by the developed regions with developing regions providing a supporting role only. However the developing regions market particularly Asia Pacific will be the fastest growing and is likely to be the key to the future.

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Telehealth Market Growth and Restrain Factors Analysis By 2023

An expert on premium research reports, Market Research provides an in-depth analysis of regional data with Growth Potential, Opportunities, Drivers, Industry-Specific Challenges

Telehealth or telemedicine is a mode of delivering health care services to patients by using communication technologies to facilitate the diagnosis, treatment, consultation, education care management, and others. Telehealth acts as a bridge to improve the relationship between patient and healthcare providers as well as for improving patient satisfaction & behavioural changes by providing healthcare guidance and treatment. It provides self-management and caregiver’s support to the patients.  Telehealth is used to monitor the chronic diseases as well as to monitor disease from home.

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There are tremendous benefits offered by the telehealth solutions. Some of these include improved access to the patients; telehealth can allow us to provide healthcare services to the patients situated in distant locations. It also allows physicians & doctors to expand their reach and services beyond their clinics. Telehealth services have also proved to be cost effective with increased efficiency through better management of chronic diseases. And also it reduces the travel time for the patients which further reduced costs for the patients. All these advantages have attracted healthcare services providers to adopt telehealth technologies and the demand for the same has been on the rise ever since.

The global telehealth market is driven by increasing prevalence of chronic diseases, rising geriatric population, and continuous development in the healthcare technology; as per statistics, more than 50% of the total globe population have some or other chronic disease. Moreover, rapid development in the technology, increasing healthcare expenditure, and increasing need for the home based devices have fuelled the market growth. However, lack of awareness and unavailability or less availability of the required infrastructure in many parts of the world including the underdeveloped Asian and African regions may slow the growth of the market.

The global teleheatlh market is expected to grow at a healthy CAGR of 29.8% during the forecasted period.

Key players

Some of the major players in the global telehealth market are Koninklijke Philips N.V. (the Netherlands), Medtronic (Ireland), General Electric Company (UK), McKesson Corporation (US), Care Innovations, LLC. (US), Cerner Corporation (US), GlobalMedia Group, LLC (US), Siemens Healthcare Private Limited (US), AMD Global Telemedicine, Inc. (US), InTouch Technologies, Inc. (US). 

Segmentation

The global telehealth market is segmented on the basis of components, types, and end users.

On the basis of component, the market is segmented into hardware, software, and others. Hardware is further segmented into monitors, medical devices, and others. Monitors are further segmented into blood glucose monitors, blood pressure monitors, ECG monitors, and others.

On the basis of types, the market is segmented into web based, on-premises, and cloud based. On the basis of end users the market is segmented into hospitals & clinics, pharmaceutical companies, and others. 

Regional Analysis

On the regional basis the global telehealth market is dominated by America owing to the presence of huge geriatric population and large number of people suffering from diabetes and other chronic respiratory diseases. Among all the regions in the world, the U.S. has been the first choice for the deployment of telehealth solutions due to established healthcare systems and technology advancement. It has gained a significant position in the global market with the increase in large numbers of telehealth services which target at wellness and fitness. Thus, these telehealth solutions help in cost reduction, saves time by reducing visits to physicians, and provides better healthcare systems. In Addition to this, well developed healthcare sector and high healthcare spending has contributed in the growth of the market. Europe accounts for the second largest market for the global telehealth market which is followed by Asia Pacific. The Germany is dominating the connected healthcare deployments in Europe, with different kinds of solutions being offered and services being delivered through varied means, from simple messages to much more complex apps. Asia pacific has the fastest growth market due to the presence of rapidly developing economies like China and India. However, the Middle East and Africa has the least share in the market.

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Healthcare Revenue Cycle Management Market - Granular Market Report and Review, 2019

Market Scenario

The report covers the latest trends impacting the market to provide the most accurate forecasts and predictions. By correlating the historical data with upcoming market dynamics, our analysts can make highly astute projections. MRFR’s report includes a thorough analysis of the global healthcare revenue cycle management market segmented according to type, application, end-user, and region. Growth opportunities are highlighted coupled with the market share of companies as well as their valuation in the market. It analyzes new revenue sources for players and outlines the various strategies implemented by players.

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The global healthcare revenue cycle management market is touted to exhibit a healthy 12.2% CAGR during the assessment period (2017-2027), as per a new market report by Market Research Future (MRFR).

The rising costs of surgeries and overall healthcare has induced the need for hospitals to lean towards technology to reduce the burden. Healthcare revenue cycle management (RCM) is a system in the healthcare cycle which relies on electronic health records (EHRs) and automation to expedite outpatient billing and reduce wait times. The growing numbers of hospitals and clinics, rising adoption rate of RCM software, recovery audits, and preference for integrated healthcare systems are factors expected to drive market demand during the forecast period.

Segmentation:

Based on the product type, the market can be segmented into advanced integrated software and standalone software. The advanced integrated software accrues almost 81.4% of the total revenue generated in the market and is blessed with the fastest CAGR of 12.3% during the forecast period.   

Component-based segmentation of the market includes software and services. The software segment is gaining precedence considerably in the global market owing to its applicational ease, and it commanded the largest market share in 2016.

Deployment-wise segmentation comprises on-premise and on-cloud/web-based. On-cloud section is gaining much traction. However, on-premise application held the largest share of the market in 2016 as many still find complete cloud solution a bit difficult to operate.

Based on end-users, the market can be segmented into hospitals and ambulatory services. Hospitals hold the major share, and many rely heavily on its assistance in cases of emergency. 

Regional Analysis:

The geographical analysis of the market covers namely the Americas, Europe, Asia Pacific (APAC) and the Middle East & Africa (MEA).

The Americas take the onus of generating the maximum revenue as the region has this tendency to rely heavily on advanced technology. Advanced infrastructure accommodates such a wide-spread implementation of RCM software which benefits all. In addition, the market is profiting much from several major players presence in the segment, along with a scheduled substantial healthcare expenditure every year.

Europe is holding the second position, and it can be attributed to increasing government support in research and development. Other features such as well-developed healthcare infrastructure and considerable healthcare funding are quite similar in their impact to that of the Americas.

The APAC is all set to register the fastest growth. Emerging economies of the region are changing the healthcare sector remarkable, and many of them are evolving as a medical tourism hub which as a consequence, is assertively impacting the global RCM market. However, the MEA is still lagging much behind as the region has quite a few poor and slow developing countries.

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India CRO Market 2019 Market Challenge, Driver, Trends & Forecast to 2023

A Contract Research Organization (CRO) offers outsourced services to support R&D functions for pharmaceutical, biotechnology, and health companies. The services may be clinical research, product development such as drug development or process development such as bio analytical assay development. A CRO may also provide management services such as clinical trials management, and pharmacovigilance.

According to the analysis offered by Market Research Future (MRFR), the India CRO market has been presumed to flourish at a CAGR of 12.0% during the forecast period.

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The two important factors that are making India a favorable market for CRO include India’s acceptance of international guidelines and intellectual property rights. Other factors include the availability of the largest pool of patients and large hospitals, educated and accessible human resource (HR), low operational cost due to cheap HR, and lastly the presence of diverse types of climatic conditions that allow stability studies to be performed with ease in one destination. Some legal factors that favor the growth of India CRO market are efforts by the regulatory authorities such as Department of Biotechnology (DBT), Director Controller General of India (DCGI), Directorate General of Foreign Trade (DGFT), and Indian Council of Medical Research (ICMR).

The market constraints that can hamper the growth of India CRO market include growing concern for security especially data security and patient security and lack of collaboration between universities and industry etc. Sometimes, some unethical Indian CROs make dishonest comprises which creates trust issues among potential clients for CROs and hurts the market.

Segments:

India CRO market has been segmented on the basis of service types which comprises clinical trials, product development, process development, post-marketing surveillance, quality monitoring and others. On the basis of therapeutic application; market is segmented into oncology, cardiovascular, neurology, nephrology and urology, and others. On the basis of end users; market is segmented into pharmaceutical/biopharmaceutical companies, medical devices companies and academic institutes.

Regional Analysis of India CRO Market:

The healthcare sector of India is divided between differential geographic regions and states. The South India and western India account for a major share of the Indian CRO market. However of late the CRO industry is shifting to the North. The reasons for this shift is the concentration of regulatory authority such as Director Controller General of India (DCGI) office, Indian Council of Medical Research (ICMR), Directorate General of Foreign Trade (DGFT), Department of Biotechnology (DBT) etc. Also the costs are lower in North India and the genetic pool is more diverse.

India is emerging as a top destination for contract research organizations for the following reasons

• India’s acceptance of International guidelines and intellectual property rights
• Presence of diverse types of climatic conditions thus allowing stability studies to be performed with ease in one destination
• Educated and accessible human resource in India
• Presence of diverse ethnic pool thus enabling diverse sample for clinical trials
• Low operational cost due to cheap human resource
• Availability of largest pool of patients and large hospitals

Indian CRO Market - Competitive Landscape

The India CRO market is dominated by multinational CROs, followed by India CROs, multinational pharmaceutical companies, and Indian pharmaceutical companies. Among these, the Indian pharmaceutical companies are mainly engaged in conducting local trials.

In March 2018, The world's largest healthcare information provider and contract medical research, IQVIA, has recently stated that it is preparing to initiate outright buyouts to investments in start-ups for technologies that based on artificial intelligence and data analytics, while also considering those related to the healthcare sector as it converts into a "Human Data Science Company". Further, the company also stated that the investments in the future will be more directed towards development in the Asia Pacific region that includes China, India, Japan and South Korea where the company forecasts increasing demand for its services in the coming years.

In March 2018, Syngene International has entered into a multiyear R&D agreement with GlaxoSmithKline plc. The companies with this collaboration are focus to accelerate the discovery of new drug candidates using Syngene discovery services platforms.

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Sepsis Diagnostics Market - Granular Market Report and Review, 2019

Sepsis is a type of life-threatening organ dysfunction arises when the body's response to an infection injures its own tissues and organs. It can be caused due to weakened immune system, chronic illness, kidney or liver disease, cancer and severe wounds. It can be of two types severe sepsis when there’s organ failure and other is septic shock in which there are the symptoms of severe sepsis includes a low blood pressure. The hospital-acquired infections and rising prevalence of sepsis has led to a growing need for its early diagnosis, which is one of the driving factor for sepsis diagnostics market.

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The global market for sepsis diagnostics is expected to reach USD 710 million by the end of the forecasted period and is expected to grow at a CAGR of 8%.

Competitive Analysis

• bioMérieux, Inc.
• EKF Diagnostics
• Immunexpress
• T2 Biosystems, Inc.
• Becton
• Dickinson and Company
• Axis-Shield Diagnostics Ltd.
• Cube Dx GmbH
• Sandstone Diagnostics, Inc.

Study Objectives of Global Sepsis Diagnostics Market:

• To provide detail analysis of the market structure along with forecast for the next 7 years of various segments and sub-segments of the global sepsis diagnostics market.
• To provide insights about factors affecting the market growth.
• To analyze the market based on various factors which includes price analysis, supply chain analysis, Porters Five Force Analysis etc.
• To offer past as well as estimated future revenue of the market’s  segments and sub-segments with respect to four main geographies and their countries; these includes  Americas, Europe, Asia-Pacific, and Middle East & Africa.
• To provide country level analysis of the market with respect to the current market size and estimated future growth of the market.
• To give country level analysis of the market’s segments which includes by technology, by type of product, by end users and other sub segments.
• To provide overview about key players and their strategic profiling in the market; comprehensively analyzing their core competencies and drawing a competitive landscape for the market.
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, along with research and developments that is taking place globally.

Segmental Analysis

Global sepsis diagnostics market has been segmented on the basis of technology which comprises molecular diagnostics, biomarkers, immunoassays and others. On the basis of type of product product types; the market is segmented into kits, instruments, blood culture media and others. On the basis of end users the market is segmented into pathology laboratories, specialty clinics, hospitals, diagnostic centers and others.

Regional Analysis

Globally North America is the largest market for medical tourism. The North American market for sepsis diagnostics is expected to reach USD 320 million by the end of the forecasted period.

Europe is the second largest market for sepsis diagnostics which is expected to grow at the CAGR of 6.8%. Asia Pacific is expected to be fastest growing region in sepsis diagnostics market.

The report of global sepsis diagnostics market by Market Research Future comprises of extensive primary research along with detail analysis of qualitative as well as quantitative aspects by various industry experts and key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of the current market scenario which includes past and projected future market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. Along with all these detail information and strategies about top key players in the industry is also given. Further a broad study of different markets segments and regions is also provided.

Industry Updates:

Dec 2018 Beckman Coulter, which is an international leader in the clinical diagnostics industry has announced that it is joining forces with Sepsis Alliance, the nation's leading sepsis organization, to support the Sepsis Coordinator Network. The pioneering online, peer-to-peer alliance for healthcare professionals, the Sepsis Coordinator Network is dedicated to saving lives by advancing patient results.

May 2018 Mobidiag, a Finnish firm, has obtained funding to creäte a rapid molecular sepsis assay on its Novodiag system. The fresh funding comprises of a €1.5 million ($1.74 million) loan for the first year of the project provided by Business Finland, a funding agency previously known as Tekes.

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Microbiology Testing Market Growth and Restrain Factors Analysis By 2023

Market Scenario

Market Research Future (MRFR) Says, The Global Microbiology Testing Market is expecting a more than twofold rise from USD 2706.1 million in 2016 to USD 5409.1 million by 2023. The extensively studied report covers the drivers that are going to impact the market decidedly during the forecast period (2014-2023) and delivers a much-precise predictive analysis of the coming years of the market. Infectious diseases are on the rise, and several outbreaks of epidemics across the globe have spurred the demand for microbiology testing. Healthcare segment is witnessing a significant increase in expenditure all over the world, and an increase in research allotments are a positive sign for the microbiology testing market.

Microbiology testing has emerged as one of the rapidly changing segment of healthcare over the past few years. Microbiology testing deals with the study of microbial germs and their clinical applications for the improvement of health. Increasing prevalence of various infectious diseases are driving the growth for global microbiology testing market.

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However, the market can witness a slight pullback caused by stringent regulatory frameworks, and patient reimbursement policies can impede the market growth for a short span of time. But the bottlenecked market can see a wider scope of possibility with improving technologies in the field of product enhancement which can ease the market growth considerably.

The key factor supporting the global microbiology testing market growth is the increasing prevalence of various infectious diseases. The global microbiology testing market has been segmented into application, end user, product type, and lastly, region. The application-based segmentation of this market comprises of gastrointestinal infections, respiratory infections, sexually transmitted infections, urinary tract infections, and others.

Key Players

The key players in the global microbiology testing market include Alere (USA), Beckman Coulter Inc. (USA), Becton Dickinson (BD) (USA), Biomérieux SA (France), Cepheid (USA), F. Hoffmann-La Roche Ltd (Switzerland), and Thermo Fisher Scientific Inc. (USA).

Latest Industry News

• Leading small molecule innovator and generic Active Pharmaceutical Ingredients (APIs) manufacturer Cambrex Corporation, who also specialize in finished dosage forms, has acquired Avista Pharma Solutions (“Avista”), a contract development, manufacturing, and testing organization, from Ampersand Capital Partners. Avista is also a microbiology testing leader. 2 JAN 2019
• Clear Safety, the flagship product of Clear Labs has received AOAC Performance Tested certification for Salmonella enterica Clear Labs is a unique automated and intelligent next-generation sequencing (NGS) platform purpose-built for food safety testing. Clear Safety combines advanced microbiology, data science, robotic automation, software analytics, and state-of-the-art NGS sequencing, to not only to lower the costs significantly but to also achieve greater than 99.9% accuracy. 4 DEC 2018

Segments 

Global Microbiology testing Market has been segmented on the basis of type which comprise Instruments, Chemicals & Reagents, Consumables & Accessories, and others. On the basis of application, it is segmented into, Gastrointestinal Infections, Respiratory Infections, Urinary tract Infections, Sexually Transmitted Infections, Others. On the basis of end user, it is segmented into, Hospital based laboratory, Independent laboratory, and Academics & Research Institutes.

Regional Analysis

The regional segmentation of the global microbiology testing market can segment the global market into regional markets by the names of Asia Pacific, North America, Europe, and the Middle East & Africa (MEA). In 2016, North America held the largest share market in the global market which was 37.9%. During the forecast period, North America is expected to continue as the largest regional market because the advanced medical facilities are available in this region and support from government regarding investment on the research & development (R&D) is available. The indispensable country-specific markets in this region are USA and Canada. Many key market players are based in North America, especially in the USA.

In 2016, Europe was the second largest microbiology testing market. During the forecast period, there are expectations regarding steady and positive market growth. However, Europe may not retain its spot by the end of forecast period. European government support R&D investment in the medical sector and in terms of technological advancement in the medical sector, Europe is second only to North America. This makes Europe an important regional market. The most significant country-specific markets in this region are France, Germany, Italy, Spain, and the UK, followed by the remaining countries of Europe.

Right now, Asia Pacific is the second largest and fastest growing market in the global microbiology testing market this is to continue till the end of forecast period. This market is expected to grow at 12.1% CAGR between 2017 and 2023. The priority country-specific markets in this region are Australia, China, India, South Korea, and Japan, followed by the remaining countries of the Asia Pacific region.

The MEA region has the least market share due to poor countries, lack of awareness, lack of education, low standard of medical facilities, lack of advanced technology, lack of healthcare facilities, and majority governments not considering healthcare a priority. In this region, the primary country-specific markets are Egypt, Saudi Arabia, and UAE, followed by the remaining countries of the MEA region.

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