San Jose, California (PRWEB) December 05, 2013
Follow us on LinkedIn – GIA invites senior industry executives, domain experts, technologists and market strategists to participate in a comprehensive global research initiative studying the “Personalized Medicine” markets. The study will examine key drivers and trends impacting the market such as development of new cutting edge prognostic tools to predict the outcome of drug therapies; development of biomarker detection technologies; growing focus on accurate treatment decisions to reduce healthcare costs and improve quality of healthcare services; expanding applications in cancer treatment; regulatory and reimbursement issues, and increased collaboration and partnerships across the personalized medicine continuum comprising of therapeutic companies, diagnostic companies, academic institutions, life sciences companies, healthcare IT companies and health insurance companies, among others.
Defined as a drug administration model based on molecular analysis of a patient’s unique genetic profile, Personalized Medicine is growing in popularity against a backdrop of growing focus on healthcare customization. A disruptive force in the healthcare system, personalized medicine is expected to create a rich mixture of opportunities and challenges for existing and emerging new market participants. The complexity of developing personalized medicine is resulting in pharma companies focusing on maintaining long-term synergistic partnerships with diagnostics companies. Development of effective personalized medicine is currently limited by the need to develop a vast base of quantitative biological data related to disease conditions. This challenge remains magnified in case of heterogeneous diseases like cancer wherein tumor phenotypes vary significantly from person to person impacting disease outcomes, and response to therapies. Regulatory and reimbursement issues flaunt the potential to influence fortunes in the market as it moves from discovery to development to the commercialization stage.
Pharma majors are currently facing patent expiries of blockbuster drugs and falling ROIs on R&D investments, as a result of the political move to cap spiraling healthcare costs by limiting the market exclusivity period. The scenario is throwing the focus squarely on personalized medicine as a new business diversification strategy. Personalized medicine offers companies protection against generic competition since targeted therapies are difficult to replicate by generic drug manufacturers, unlike conventional blockbuster drugs. In addition, against the backdrop of current healthcare cost rationing measures that include reductions in reimbursements, personalized medicine given its ability to enhance patient outcomes can actually help companies negotiate higher and wider reimbursement coverage from governments and private payors. All of these factors are expected to support increased R&D investments in the development of personalized medicine in the coming years.
Given the dire need to migrate from non-targeted chemo-therapeutic based approaches to molecularly targeted therapy, the field of oncology offers immediate commercial opportunities for personalized medicine. The study estimates Personalized Medicine to be a multi-million dollar market worldwide, while more precise market-size and growth projections will be made available during the 2nd stage of report preparation, and data analysis.
The research and analyses will be released shortly in the form of a comprehensive research report. The report by design will attempt to provide exhaustive analysis, data, trends, market share, market size, statistics, forecasts and competitive intelligence. The report is modeled to offer precise and unbiased, actionable market insights including in-depth segmentation of market sub-sectors, demand estimates and projections and analysis of trends in each of the sectors, identification of leading players, and the competitive structure, among others.
Developed for Drug Developers, Strategic Planners, Business Development Executives, Management Consultants, Investment Bankers, Consulting Firms, Marketing & Sales Executives, C-Level Decision Makers, Market Strategists and Technology Domain Experts, the report helps identify the biggest opportunities in this space and offers accurate latent demand forecasting that empowers quantitative decision making among existing market players and new entrants.
For more details about how you can participate, please click here.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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