Advancing Precision Medicine: Zephyr AI Secures $111M Funding, Exact Sciences Launches Groundbreaking Riskguard™ Hereditary Cancer Test

Vantage Market Research

Mar 27, 2024

Zephyr AI's Series A Funding

Zephyr AI, a trailblazing healthcare technology company, has recently concluded a successful 1 million Series A funding round. With support from notable investors like Revolution Growth and Eli Lilly & Company, Zephyr AI aims to democratize precision medicine through its fast and explainable Artificial Intelligence (AI) solutions. The company's focus on enhancing data federation tools and machine learning algorithms in oncology and cardiometabolic disease indicates a significant leap forward in personalized healthcare.

Exact Sciences' Riskguard™ Hereditary Cancer Test

Exact Sciences Corp., a leading provider of cancer screening and diagnostic tests, has unveiled the Riskguard™ hereditary cancer test in the United States. This groundbreaking test offers personalized patient reports, assessing gene-specific and familial risks for ten common cancers. By empowering individuals with actionable insights into screening, treatment, and familial risks, the Riskguard™ test revolutionizes personalized cancer care.

Global Personalized Medicine Market Outlook

According to Vantage Market Research analysts, the global personalized medicine market is projected to reach USD 330.8 billion by 2032, with a compound annual growth rate (CAGR) of 10.7%. Prominent players driving this growth include Abbott Laboratories, Merck & Co. Inc., GlaxoSmithKline Plc., Pfizer Inc., and AstraZeneca. Main factors fuelling industry expansion include the rising prevalence of chronic diseases such as cardiovascular diseases, cancer, diabetes, and neurological conditions. Moreover, collaboration with healthcare providers, pharmaceutical companies, research institutions and IT firms improves the availability of tailored health care solutions. However, the market faces challenges due to the high costs associated with genomic testing, targeted therapies, and other personalized interventions. 

Industry Impact

The advancements demonstrated by Zephyr AI and Exact Sciences, in tandem with the promising growth projections for the global personalized medicine market, highlights the industry's commitment to advancing healthcare delivery. Stakeholders seek to address the evolving needs of patients and drive positive health outcomes by using cutting edge technologies and fostering cooperation in different sectors. 

As the Personalized Medicine Market continues to evolve, collaborations, innovations, and market projections demonstrate the industry's dedication to personalized healthcare solutions. Through strategic partnerships, technological advancements, and a focus on accessibility, stakeholders strive to unlock the full potential of precision medicine, ultimately improving health outcomes for individuals worldwide.

Personalized Medicine Market Size, Share & Trends Analysis Report by Product (Personalized Medicine Diagnostics, Personalized Medicine Therapeutics, Personalized Medical Care, Personalized Nutrition & Wellness) by Application (Oncology, Neurology, Cardiology, Antiviral, Psychiatry, Immunology, Others) by End Users (Hospitals And Clinical Care, Diagnostic Companies And Testing Facilities, Academic Research Institutes And Research Laboratories, Contract Research Organizations, Bio And Health Informatics Companies, Others) by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2018 - 2023) & Forecast (2024 - 2032)