According to study, “Middle East and Africa Precision Medicine Market (2018-2023)” some of the major companies that are currently working in the Middle East and Africa precision medicine market are Johnson & Johnson, Biocrates Life Sciences, Abbott Laboratories, Randox Laboratories, GlaxoSmithKline (GSK), Ferrer InCode, Intomics, GE Healthcare, Covance Ltd., Novartis AG, Quest Diagnostics, Pfizer, Silicon Biosystems, Teva Pharmaceuticals Limited, Nanostring Technologies, Medtronic, CETICS Healthcare Technologies GmbH, Eagle Genomics, Qiagen Technologies, Tepnel Pharma Services, Almac Group. Additionally, some ecosystem players are healthcare information technology specialists or big data companies, clinical laboratories, pharmaceuticals & biotech companies and diagnostic companies etc.
Precision medicine helps incurring patient’s genetic existence, and atmosphere. Its main objective is to provide the accurate treatments to the patients at the exact time. It helps in building a scientific knowledge support by raising a network of technical group study. It also helps doctors and researchers to apply the protective methods for any precise sickness. It treats many cancer cells for instance HER2-positive breast cancer cells, or using tumor indicator testing to facilitate diagnose cancer. All these medicines are issued by the Food and Drug Administration or FDA. Some of the essential features of precision market include protective care, limit cost, the competence of care and inhabitants health and many others. Additionally, some of the side effects are bruising, appetite loss, bleeding, anemia, delirium, diarrhea, fatigue, alopecia, neutropenia, infection, nausea, constipation, edema, memory loss vomiting and nerve problem and many others.
Based on the therapeutics, the precision market is segmented into central nervous system, cardiovascular, psychiatric disorder, cancer and virus diseases etc. Based on technology market is segmented into companion diagnostics, bioinformatics, pharmacogenomics, genetic material sequencing and big data analytics. Moreover based on the application market is segmented into oncology, CNS, respiratory and immunology etc.
The Middle East and Africa precision medicine are driven by increasing technological advancements, rising prevalence diseases (malaria, HIV, tuberculosis etc), increasing global incidence of cancer, rising the adoption of IoMT and healthcare technologies, huge population and supportive government initiatives etc. Apart from advantages, some of the major challenges are lack of adequately trained healthcare workers, poor economic condition and lack of training programs and many others. Moreover, some of the other drawbacks hampering are infrastructure requirements, legal problems, healthcare cost and the relevance of the information and many others.
The National Human Genome Research Institute (NHGRI) is human genome project, which is part of the National Institutes of Health (NIH). It supports investigation of the complex legal, ethical and social inferences of genomics and also provides the knowledge & benefits of genomics research. In addition, the Human Heredity and Health in Africa (H3Africa) is a government initiative. The main goal of initiative is to support African scientists, which use clinical, genomic and epidemiologic methods to identify genetic and ecological offerings to the risk of common, non-communicable disorders (such as kidney and heart disease) and communicable diseases (tuberculosis).
It is estimated that the Middle East and Africa precision medicine market to reach at USD 2.5 billion, at a CAGR of 9.9%, by 2023. In upcoming years, it is expected that market to grow increasingly due to increasing demand for personalized treatment and rising in cancer susceptible aging population.
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Ankur Gupta, Head Marketing & Communications