Dublin, June 05, 2023 (GLOBE NEWSWIRE) -- The "Precision Dosing Market, By Patient, By Tools, By Software, By Drug Class, and by Region - Global Forecast to 2023-2033" report has been added to ResearchAndMarkets.com's offering.
The global precision dosing market size is estimated to have lucrative growth during the forecast period 2023-2033. Increasing approval of novel therapies, growing demands for the accurate administrations of drugs & medicine, adverse effects of the diseases, and surging demand for the appropriate dosing of the medicines and drugs are some of the factors contributing to the market growth.
Furthermore, growing demand for novel drug discovery to combat the growing incidence of rare diseases across the globe, requirement of the precise dosage to control the side effects of the aggressive treatments including curative therapies, growing demand for the supply of correct dosage to the pediatric patients, advancement in the cancer biologics & development of the advanced therapeutics, and technological advancements are other factors supporting the market growth. However, higher cost of therapies and treatment procedures along with the expensive drugs and pharmaceutical are expected to hinder the growth.
Increasing approval of novel therapies is expected to fuel the market growth during the forecast period. For example, in November 2022, Hemgenix (etranacogene dezaparvovec), an adeno-associated virus vector-based gene therapy, has been approved by the US Food and Drug Administration for the treatment of adult haemophilia B patients.
Growing demand for novel drug discovery to combat the growing incidence of rare diseases across the globe is expected to propel the market growth during the forecast period. The increasing level of understanding and correlation of characteristics of the human genome has paved the way for efforts on devising various personalized medicine and therapeutic exercises.
For instance, in September 2022, in a study conducted at the University of California, Irvine, a novel method for treating inherited retinal disorders (IRDs) was developed. It involves applying precise genome editing tailored to each person's unique needs.
Segmentation
By Patient
In 2022, the pediatrics segment is anticipated to grow at highest revenue share during the forecast period owing to increasing number of pediatric populations and the demand for the accurate medication for the children. For instance, in august 2022, Children are predicted to make up around 1.9 billion of the world's population, according to data from Statista.
Additionally, the geriatrics segment is expected to witness the fastest CAGR during the forecast period due to increasing geriatric population and rising concerns toward the healthcare of the geriatric population. For instance, in October 2022, approximately 426 million people will be 80 years of age or older by 2050, according to projections from the World Health Organization (WHO). A sizable section of the elderly population chooses homecare, where they get frequent medication monitoring.
By Tools
In 2022, during the anticipated period, the physiologically based pharmacokinetic (PBPK) modelling category had the biggest revenue share. The mathematical analysis of the absorption, distribution, metabolism, and excretion of synthetic and chemical medications and pharmaceutical products is known as physiologically based pharmacokinetic (PBPK) modelling. For instance, in October 2020, regulatory Focus reports that industry drafted recommendations on the use of physiologically based pharmacokinetic (PBPK) assessments for biopharmaceutics applications have been issued by the US Food and Drug Administration (FDA).
On the other hand, the non-linear mixed effects (NLME) modeling segment is anticipated to exhibit the quickest CAGR during the forecast period owing to the availability of computers and numerical integration algorithms is aiding the growth. A non-linear connection between a variable response and the parameters of a medical study is described by non-linear mixed effects (NLME) modelling.
By Software
In 2022, the web-based segment accounted for the highest revenue share during the forecast period. Instead of requiring local installation, web-based software may be launched from any web browser with an internet connection and any operating system. Additionally, users of web-based applications may always obtain the most recent version of the programme. For instance, In July 2022, Certara announced a partnership with Memorial Sloan Kettering Cancer Center (MSKCC) to create a revolutionary biosimulation programme that will be used to calculate the dosage of CAR T-cell treatment for patients with multiple myeloma.
On the other hand, the desktop-based segment is anticipated to exhibit the quickest CAGR during the forecast period. Through the software websites, desktop applications may be downloaded. For instance, in July 2022, A healthcare technology startup called InsightRX has created a cloud-based platform for clinical analytics and precision medicine with the goal of individualised therapy at the point of service.
By Drug Class
In 2022, the antiepileptics segment is anticipated to grow at highest revenue share during the forecast period owing to increasing prevalence of epilepsy. For instance, In November 2022, the American Epilepsy Society (AES) 2022 Annual Meeting will be held December 2-6, 2022, in Nashville, Tennessee. Praxis Precision Medicines, Inc., a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system (CNS) disorders characterised by neuronal excitation-inhibition imbalance, announced that it will present on its epilepsy programmes there.
On the other hand, the antimycotics segment is anticipated to exhibit the quickest CAGR during the forecast period due to rising number of infectious diseases caused by fungi. For instance, In April 2021, Amplyx Pharmaceuticals, Inc., a privately held business focused to the research and development of cures for deadly diseases that strike people with compromised immune systems, has been acquired by Pfizer Inc. Amplyx's flagship chemical, fosmanogepix (APX001), is a cutting-edge interventional asset in the clinical development of fungal infections.
Regional Markets
In 2022, North America region accounted for the highest revenue in the precision dosing market during the forecast period. This can be attributed to the increasing prevalence of chronic diseases such as cancer, genetic disorders, & neuropathic disorders, increased research & advancements toward precise dosage of the drugs and pharmaceuticals. The well-established healthcare sector is supported by nations like the United States and Canada.
For instance, in March 2022, according to the American Heart Association, nutritional specialists are focusing on precision nutrition to prevent cardiovascular illnesses based on individual reactions to certain foods and nutrients. In order to create their brands, new market participants may concentrate on researching the consumer market in-depth and launching smart products.
Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period due to rising industrialization in developing nations like India & China, rising collaborations and acquisitions along with huge capital investments to devise the best-personalized medicine strategy that could possibly cure a disease, and increasing number of FDA approvals for companion diagnostics due to the rising demand, and growing product launches within the region. For instance, in July 2021, Posaconazole, a brand-new triazole antifungal drug from Cadila Pharmaceuticals, works well for a number of invasive fungal diseases.
Segmentation: Precision Dosing Market Report 2022 - 2033
By Patient (Revenue, USD Million), 2022 - 2033
- Pediatrics
- Geriatrics
- Patients with End Organ Dysfunction
- Patients on Polypharmacy
By Tools (Revenue, USD Million), 2022 - 2033
- Non-Linear Mixed Effects (NLME) Modeling
- Physiologically-Based Pharmacokinetic (PBPK) Modeling
By Software (Revenue, USD Million), 2022 - 2033
- Desktop-Based
- Web-Based
By Drug Class (Revenue, USD Million), 2022 - 2033
- Immunosuppressives
- Antimycotics
- Antiepileptics
- Antibiotics
- Antidepressants
- Antitumoral Drugs
By Region (Revenue, USD Million), 2022 - 2033
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Key Topics Covered:
1. Research Methodology
2. Introduction: Precision Dosing
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.1.1. Rising number of chronic diseases
4.1.2. Surging demand for the appropriate dosing of medicines and drugs
4.1.3. Growing demand for novel drug discovery to combat the growing incidence of rare diseases
4.1.4. Ease of dosage to the pediatric patients
4.2. Market Restraint
4.2.1. High Cost of Treatment
4.2.2. Rising side effects
4.2.3. Lack of Experienced staff
4.3. Market Opportunities
4.3.1. Rising Investment Opportunities
4.3.2. Favorable Policies
4.3.3. Increasing end use
4.4. Market Trends
4.4.1. New Product Launches
4.4.2. Use of cutting-edge Tools
4.4.3. Innovative Methods and new techniques
4.5. Market Challenges
4.5.1. Longer duration of differential diagnosis
4.5.2. Lack of awareness among individuals
4.5.3. Poor reimbursement scenarios
5. Market Environment Analysis
6. COVID-19 Impact Analysis: Precision Dosing Market
7. Market Analysis by Patient
8. Market Analysis by Tools
9. Market Analysis by Software
10. Market Analysis by Drug Class
11. Regional Market Analysis
12. North America Precision Dosing Market
13. Europe Precision Dosing Market
14. Asia Pacific Precision Dosing Market
15. Latin America Precision Dosing Market
16. MEA Precision Dosing Market
17. Competitor Analysis
18. Company Profiles
19. Conclusion
20. Recommendations
A selection of companies mentioned in this report includes
- AutoKinetics
- Optimum Dosing Strategies (ID-ODS)
- InsightRX Nova
- TUCUXI Global Solution Pvt Ltd
- NextDose
- AEGIRBIO AB
- MwPharm
- BestDose
- Healthware Inc. (PrecisePK)
- DoseMeRx (Tabula Rasa HealthCare (TRHC))
For more information about this report visit https://www.researchandmarkets.com/r/at5foz
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