Health IT Law Blog
PWC report projects booming market in personalized medicine
The new science of personalized medicine, a new report on the $232 billion personalized medicine industry by PriceWaterhouseCoopers, anticipates an annual 11% growth in this market. Health IT and telemedicine are among the key drivers for personalized medicine.
According to Healthcare IT News, the report's findings include:
- The core diagnostic and therapeutic segment of the market – made up primarily of pharmaceutical, medical device and diagnostics companies – is estimated at $24 billion and expected to grow by 10 percent annually, reaching $42 billion by 2015.
- The personalized medical care portion of the market – including telemedicine, health information technology and disease management services offered by traditional health and technology companies – is estimated at $4 billion to $12 billion and could grow to more than $100 billion by 2015 if telemedicine takes off.
- The related nutrition and wellness market – including retail, complementary and alternative medicines offered by consumer products, food and beverage, leisure and retail companies – is estimated at $196 billion and projected to grow 7 percent annually to more than $290 billion by 2015.
You can find the full report here.
"IT helps drive $232B personalized medicine market," Healthcare IT News (December 8, 2009).
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