Global Precision Medicine Market Size study & Forecast, by Technology ( Big Data Analytics, Bioinformatics, Gene Sequencing, Drug Discovery, Companion Diagnostics and Other Technologies) by Application ( Oncology, CNS, Immunology, Respiratory and Other A

Global Precision Medicine Market Size study & Forecast, by Technology ( Big Data Analytics, Bioinformatics, Gene Sequencing, Drug Discovery, Companion Diagnostics and Other Technologies) by Application ( Oncology, CNS, Immunology, Respiratory and Other Applications), and Regional Analysis, 2022-2029

Global Precision Medicine Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Precision medicine is an emerging science that focuses treatment decisions on a patient's genetic profile, way of life, and environment. The success of precision medicine in treating cancer has led to an increase in its popularity. It enables medical professionals and researchers to forecast more precise treatment and prevention measures for every specific disease. Precision medicine, which focuses on the mutations that turn healthy bodily cells into cancerous ones, is often referred to as personalized medicine or tailored medicine. In comparison to conventional medications, the use of precision medicine in targeted cancer treatment offers fewer adverse effects and promotes faster recovery. The Precision Medicine market is expanding because of factors such as increasing incidence of central nerves system disorders and advancement in cancer biology.
Several gene therapies, diagnostics, and medications have been created in this field as a result of the rise in the prevalence of serious illnesses including cancer and uncommon diseases. According to estimates from the International Agency for Research on Cancer (IARC), globally, there were 17.0 million new instances of cancer and 9.5 million cancer-related deaths in 2018. It is estimated to increase the worldwide burden of cancer to 27.5 million new cases by 2040. Furthermore, the development of the industry under review is being fueled by developments in cell biology and technology. For instance, in May 2021, AdventHealth launched a data-driven precision medicine initiative as part of the expansion of its genomics programme. This initiative organize and integrate longitudinal patient data with molecular testing data, resulting in the creation of a dataset and disease network models that will aid the healthcare system in better anticipating the onset of diseases and how they will respond to treatments. Thus, these developments are fueling the growth. In addition, higher technological advancements of precision medicine and growing investments associated with precision medicine is creating a lucrative growth to the market. However, high cost for precision medicine development halt market growth.

The key regions considered for the Global Precision Medicine Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of branded Technologies and the region's increasing disease prevalence. Whereas Asia Pacific is expected to grow with a highest CAGR during the forecast period, owing to factors such as rising geriatric, an increase in the number of collaborations for medicine development, geographic expansion of key players, and active participation of government and nonprofit organizations in the market space.

Major market player included in this report are:
Astarte Medical
AstraZeneca PLC
F Hoffmann-La Roche Ltd.
Laboratory Corporation of America Holdings
Medtronic PLC
Myriad Genetics Inc.
Novartis AG
Pfizer Inc.
Qiagen NV
Quest Diagnostics

Recent Developments in the Market:
In November 2022, The University of Pécs (UP) and BGI Genomics decided to open a collaborative lab in Hungary. The collaborative lab will begin formal operations in order to strengthen BGI Genomics' and the UP's avant-garde precision medicine advancements in the Central and Eastern European region and to speed the development of genomic sequencing and clinical diagnostic services.

Global Precision Medicine Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Technology, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Technology offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Technology:
Big Data Analytics
Bioinformatics
Gene Sequencing
Drug Discovery
Companion Diagnostics
Other Technologies

By Application:
Oncology
CNS
Immunology
Respiratory
Other Applications

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned

Astarte Medical
AstraZeneca PLC
F Hoffmann-La Roche Ltd.
Laboratory Corporation of America Holdings
Medtronic PLC
Myriad Genetics Inc.
Novartis AG
Pfizer Inc.
Qiagen NV
Quest Diagnostics

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.