A Personalized medicine application
has the largest network, mainly due to high demand for the effective cancer treatment. Apart from the huge potential of the market in personalized medicine and diagnostic segments; it also has a strong value and the vast expansion opportunities in its application such as biomarker, discovery, cancer and research applications. A number of new tools and services are offered by the various biotechnology medical companies for cancer/tumor profiling which is greatly served a cancer screening and the diagnostic. These tools and services are speeding up the development in the cancer therapeutics field and help in boosting the growth of the personalized medicine market.
A significant tool to achieve Personalized Medicine is the availability of repositories of freely accessible databases. Large databases are formed containing information from genomic, transcriptomic, and proteomic analyses which is available for global access and data processing. Some of these include the Cancer Genome Anatomy Project, the Single Nucleotide Polymorphism Database, in addition to many others. Bioinformatics algorithms can then be used to integrate a patient's clinical information and the genetic profiles of their tumor to predict the relationships of certain molecular changes to the cancer.
Standardization of Personalized medicine includes several characteristics including the type of sample to be analyzed, the suitable methods of sample collection and storage, the selection of the target genes/proteins to be tested, the platform to be used, best experimental conditions, and the interpretation of tests. There are specific quality standards for different laboratories, and test validations will be required with external quality assurance protocols.
There are different approaches and tools available for molecular Personalized Medicine testing. A large array of techniques can be used for Personalized Medicine. Commonly used techniques include PCR, fluorescence in situ hybridization and sequencing. Recently, the completion of the human genome project opened a new opportunities for Personalize Medicine analysis by using high-throughput analysis. These include microarray, mass spectrometry, second-generation sequencing, array comparative genomic hybridization, and high-throughput SNP analysis, among others. A common trend among these tools is their ability to simultaneously analyze hundreds or thousands of targets. This multipara metric approach is likely to improve the sensitivity, specificity, and accuracy of new biomarkers. In addition to acceleration of biomarker discovery, high-throughput analysis allows a better understanding of interaction between different molecules in the pathogenesis of cancer.
The overall market generated revenue of $xx m in 2015 and is expected to grow with CAGR of xx% throughout the forecast period to generate $xx m by 2021. The Major players are focusing on marketing their products in emerging markets such as India, Japan, Brazil, and China. Currently Americas and Europe region dominate the overall market by contributing to xx% of the overall revenue. These regions are growing with CAGR of xx% and xx% respectively throughout the forecast period. The Key biotechnology and pharmaceutical companies such as:
- Caris Life Sciences (U.S.)
- Proteome Sciences PLC (U.K.)
- Life Technologies (U.S.)
- Boreal Genomics, Inc. (U.S.)
- Oxford Gene Technology Ltd. (OGT) (U.K.)
- Precision Therapeutics, Inc. (U.S.)
Among others, are undertaking various strategically decisions such as collaborating and partnering with each other as well as with research universities to develop cancer profiling products.