Concerns regarding overdosing pharmaceuticals is driving the growth of the global precision dosing market in the forecast period, 2022-2026.
According to TechSci Research report, “Precision Dosing Market – Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026” the global precision dosing market would potentially project an impressive growth in the forecast period, 2022-2026, with an impressive CAGR on the account of surging demand for the appropriate dosing of the medicines and drugs. Increasing number of chronic diseases is also driving the growth of the global precision dosing market in the upcoming five years.
Demand for the supply of correct dosage to the pediatric patients is further supporting the growth of the global precision dosings market in the next five years. Treatments like precision medicine, regenerative treatment and cancer treatment through gene therapies is also substantiating the growth of the global precision dosings market in the future five years. Advancement in the cancer biologics and development of the advanced therapeutics is aiding the growth of the global precision dosing market in the forecast years.
Higher cost of therapies and treatment procedures along with the expensive drugs and pharmaceutical may hinder the growth of the global precision dosing market. Moreover, impact of COVID-19 in the recent years has surged the demand for the advanced medication and its correct dosage is aiding the growth of the global precision dosing market in the forecast period.
Furthermore, requirement of the precise dosage to control the side effects of the aggressive treatments like curative therapies is anticipated to support the robust growth of the global precision dosing market in the future five years.
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The global precision dosing market is segmented on the basis of patient type, tools, software, drug class, competitional landscape, and regional distribution. Based on patient type, the market is further fragmented into pediatrics, geriatrics, patients on polypharmacy, patients with end organ dysfunction, and others. Pediatrics precision dosing is anticipated to register the largest revenue shares of the market and dominate the patient type market segment in the upcoming five years.
The market growth can be attributed to increasing number of pediatric populations and the demand for the accurate medication for the children. Moreover, increasing number of curative therapeutics for the children is further supporting the growth of the global precision dosings market in the future five years. Geriatric population is also anticipated to register significant growth in the forecast years on the account of rising concerns toward the healthcare of the geriatric population.
Moreover, large portion of geriatric population prefers homecare and are monitored at home for their regular medications. It is mandatory to affirm the required dosage for the geriatric population which is further supporting the growth of the sub-segment and growth of the global precision dosing market in the next five years.
On the basis of tools, the market is segmented into physiologically based pharmacokinetic (PBPK) modeling and non-linear mixed effects (NLME) modeling. Physiologically based pharmacokinetic (PBPK) modeling is a modeling technique where absorption, distribution, metabolism and excretion of synthetic and chemical drugs and medicinal products are analyzed mathematically.
The availability of computers and numerical integration algorithms is aiding the growth of the sub-segment and further substantiating the growth of the global precision dosings market in the next five years. Non-linear mixed effects (NLME) modeling describes a non-linear relationship between variable response and parameters of the medicinal analysis.
To monitor the drug administration covariates in data that are grouped according to a classification factor, non-linear mixed effects (NLME) modeling is utilized and thus substantiating the growth of the sub-segment as well as the growth of the global precision dosings market in the upcoming five years.
InsightRX Nova, DoseMeRx (Tabula Rasa HealthCare (TRHC)), AEGIRBIO AB, MwPharm ++, TUCUXI Global Solution Pvt Ltd, Healthware, Inc. (PrecisePK), AutoKinetics, BestDose, Optimum Dosing Strategies (ID-ODS), NextDose, are among the major market players in the global platform that lead the market growth of the global precision dosing market.
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“North America region is anticipated to dominate the market in the upcoming five years on the grounds of increasing prevalence of chronic diseases. Diseases like cancer, genetic disorders, and neuropathic disorders are aiding the demand and thus the growth of the global precision dosings market in the next five years. Increased research and advancements toward precise dosage of the drugs and pharmaceuticals are also supporting the growth of the global precision dosing market in the future five years. Countries like United States and Canada support the well-established healthcare industry and the growth is affirmed. New market players may focus on studying the consumer demands and extended research along with the smart product launches thus aids their brand establishments,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Precision Dosing Market – Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented By Patient Type (Pediatrics, Geriatrics, Patients on Polypharmacy, Patients with End Organ Dysfunction, Others), By Tools (Physiologically-Based Pharmacokinetic (PBPK) Modeling v/s Non-Linear Mixed Effects (NLME) Modeling), By Software (Web-Based v/s Desktop-Based), By Drug Class (Antibiotics, Antimycotics, Immunosuppressives, Antiepileptics, Antitumoral Drugs, Antidepressants, Others), By Region”, has evaluated the future growth potential of global precision dosing and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global precision dosing market.
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