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Dec 03, 2020 (Heraldkeepers) —
The Precision Medicine Market delivers a succinct analysis on industry size, regional growth and revenue forecasts for the upcoming years. The report further sheds light on significant challenges and latest growth strategies adopted by manufacturers who are a part of the competitive spectrum of this business domain.
Precision Medicine Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2020-2025. The growth in the precision medicine market is propelled by an increasing demand for personalized treatment; technological innovation and advancement , as well as growth of personal healthcare devices are major key factor which drives the Global Precision Medicine Market.
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Top Precision Medicine companies:
key strategies followed by the top players operating in the precision medicine market are,
- Abbott Laboratories
- GE Healthcare
- GlaxoSmithKline (GSK)
- Johnson & Johnson
- Laboratories Corporation of America Holdings
- Danaher Corporation
- Biocrates Life Sciences AG
- Nanostring Technologies
- Ferrer Incode
- Eagle Genomics Ltd
Scope of Market Reports –
Precision medicine is often called as Personalized Medicine. It is used to describe how genetic information about a person’s disease is being used to diagnose or treat their disease. Precision Medicine refers to the modification of medical treatment to the individual characteristics of each patient. It does not exactly mean the manufacturing of drugs or medical devices that are unique to a patient, but the ability to categorize individuals into sub-populations that diverge in their susceptibility to a particular disease. Preventive or therapeutic interventions can then be focused on those who will benefit, sparing cost and side effects for those who will not. The main aim of government regulations is to make Precision Medicines more accepted and it is focused towards genetic diseases related to oncology, skin, respiratory, central nervous system, cardiovascular, and infectious diseases.
The key objective of Cancergenomics is to improve personalized medicine through the DNA sequencing and analysis of patient tumors cells to find out new genetic mutation associated with specific cancers.
Genetic information has helped to increase the development and use of the newest cancer treatments like Chemotherapy, Radiation Therapy, Targeted Therapy and Precision Medicines. For example, the drug Imatinib was modified to inhibit an altered enzyme produced by a fused version of two genes found in chronic myelogenousleukemia. Another example is the breast cancer drug Trastuzumab which works only for women whose tumors have a particular genetic profile calledHuman Epidermal Growth Factor Receptor 2(HER-2 positive). It is also found that lung cancer patients whose tumors are positive forEstimated Glomerular Filtration Rate (EGFR)mutations will respond to the drugs Gefitinib and Erlotinib which target this mutation. Conversely, colon cancer patients whose tumors have a mutation in a gene called KRAS (K-RAS) derive less benefit from the drugs Cetuximab and Panitumumab. The genomic information made by The Cancer Genome Atlas (TCGA) will boostthe research to develop similar treatment strategies for