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U.S. personalized medicine market poised for double-digit growth
April 2011
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DUBLIN—The U.S. personalized medicine market is anticipated to grow at a rate of about 12 percent through 2015, according to a recent report released by market research firm Research and Markets. According to the report, "Personalized Medicine Market Analysis," the era of personalized medicine is set to revolutionize the healthcare industry. With the expansion of knowledge in genetics and molecular biology, a personalized approach to medical care is increasingly becoming important, the report says. While still in the early stages, personalized medicine is steadily emerging as the new healthcare paradigm. In fact, according to the report, this paradigm not only promises the improvement of an individual's treatment outcome and reduces healthcare expenditure, but is also set to transform the biopharmaceutical and molecular diagnostics markets in the coming years.

"Presently, the industry as a whole is committed to the development of personalized medicines and is commanding more resources and fomenting more corresponding organization change," says Research and Markets. "In fact, strategic alliances, like the sanofi-aventis alliance with Scripps Genomic Medicine, are being formed with academic and private research institutions as well, as small biotech companies and major pharma companies are increasingly looking for alternative ways to strengthen their pipelines."



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