Global Precision Medicine Market Trends, Analysis, Growth, and Forecast: 2018 to 2027

MarketResearch.biz delivers in-depth insights on the global precision medicine market in its upcoming report titled, “Global Precision Medicine Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global precision medicine market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global precision medicine market report has been segmented on the basis of technology, therapeutic area, and region.

Precision medicine is an approach that protect health and treat diseases taking into account an individual variability in genes, environment, and lifestyle for every individual. It matches every patient with the treatment that can work best for them and hence it is also called as individualized medicine. Precision medicine has it applications in diagnostics, prevention, and screening. It is a method to identify the individuals that might have a risk before disease strikes. It also acts as an analytical tool for predicting which prevention technique can work for an individual patient.

Increasing number of approval by health authorities for treatment of various diseases such as cancer and cystic fibrosis is a major factor expected to boost the growth of global precision medicine market over the forecast period. In addition, rising funding by players in the market for research and development and increasing government initiatives for developing various application of precision medicine is other factors expected to drive the growth of global precision medicine market over the forecast period. Rising awareness regarding precision medicine is other factor expected to propel the market growth over the forecast period.

However, high cost of the development as well as high cost of genetic testing are major factor expected to restraint the growth of the global precision medicine market over the forecast period.

North America market dominates the global precision medicine market in terms of revenue contribution as compared to that of markets in other regions. This is attributed to presence of well-developed healthcare infrastructure and increasing number of product approvals, and rising awareness regarding the benefits of precision medicine in the region. Europe accounts for second-largest revenue share contribution to the global precision medicine market, followed by markets in the Asia Pacific, Latin America, and the Middle East & Africa respectively. The market in the Asia Pacific is projected to register comparatively faster growth in terms of revenue over the next 10 years, owing to the developing healthcare infrastructure and increasing prevalence of chronic diseases in the region.

Global precision medicine market segmentation, by technology:

• Next Generation Sequencing
• Bioinformatics
• Drug Discovery Technologies
• Big Data Analytics
• Companion Diagnostic

Global precision medicine market segmentation, by therapeutic area:

• Oncology
• Immunology
• Neurology
• Cardiology
• Infectious disease
• Others (Respiratory, Rare diseases)

Global precision medicine market segmentation, by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

• Intomics A/S
• Ferrer Incode
• Nanostring Technologies, Inc.
• Tepnel Pharma Services
• Pfizer, Inc.
• Novartis AG
• Teva Pharmaceuticals
• Merck & Co., Inc.
• Qiagen N.V.
• Quest Diagnostics