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$232 Billion Personalized Medicine Market to Grow 11 Percent Annually, says PricewaterhouseCoopers
Date:12/8/2009

mer (DTC) diagnostic market is growing and controversial. Genetic testing products for in-home use are empowering consumers with real-time information, enabling them to predict their medical risks, detect disease earlier and better manage their health status. Market research analysts estimate the current size of the global market for genetic testing at $730 million, with a 20 percent annual growth rate. Though a relatively small portion of this market, DTC testing is expected to grow rapidly in response to consumer demands and declining prices.
  • Consumer: Consumer products companies are not only leveraging the new science in the development of new products but also have the marketing expertise and insights to target consumers that many healthcare organizations don't have. Food and beverage companies have long fortified their products with vitamins and other nutrients, and through advancements in science and food manufacturing they will increasingly tailor products, packaging and promotional activities that appeal to health-conscious consumers. As early as 2003, Nestle, a global leader in foods that deliver nutrition, health and wellness benefits, announced that it was "moving from an agrifood business to an R&D-driven nutrition, health and wellness company." The pace of growth in this area, however, may be set by complex issues such as establishment of a regulatory approval pathway for the validation of health claims, intellectual property protections and cost of research and development.
  • Telecom and Technology. Technology companies, including some with little or no health expertise, are capitalizing on emerging opportunities to manage vast quantities of genetic and other health data and build IT infrastructure and connectivity solutions.

Challenges for traditional healthcare

The growth of personalized m
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SOURCE PricewaterhouseCoopers
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