Precision Medicine Market, By Application (Oncology, Central Nervous System, Hematology , Immunology , Respiratory , and Others), By Technology (Bioinformatics, Gene Sequencing, Precision Molecular Diagnostics, Big Data Analytics, and Others), By End User

Precision Medicine Market, By Application (Oncology, Central Nervous System, Hematology , Immunology , Respiratory , and Others), By Technology (Bioinformatics, Gene Sequencing, Precision Molecular Diagnostics, Big Data Analytics, and Others), By End User (Biopharmaceutical Companies, Diagnostic Laboratories, Academic & Research Institutions, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Precision medicine is an emerging approach for disease treatment and prevention that takes into account individual variability in genes, environment, and lifestyle for each person. This approach allows doctors and researchers to predict more accurately which treatment and prevention strategies for a particular disease will work in which groups of people. It is in contrast to a one-size-fits-all approach, where disease treatment is a standardized approach for all people. Precision medicine integrates genetic information and molecular diagnostics to tailor medical treatments based on the individual characteristics of each patient. With greater knowledge of patients' genetic makeup, doctors can determine if certain medicines, lifestyle changes, or treatments will help or if different options may need to be considered depending on the individual. This allows researchers and healthcare providers to determine the safest treatment option tailored for each patient, leading to improved treatment outcomes. With continued research and development, precision medicine holds promise to transform healthcare through targeted disease prevention and treatment.

Market Dynamics:

The global precision medicine market is driven by the increasing demand for personalized healthcare, rise in R&D investments for precision therapeutics development, growing application of next-generation sequencing (NGS) in precision medicine, and surging demand for healthcare reduction. However, the lack of data interpretation & standardization and high cost of treatment are expected to restrain the market growth. Meanwhile, emerging economies offer high-growth opportunities for market players. Precision medicine approaches could help address several burgeoning healthcare challenges by offering targeted therapeutics with improved efficacy and reduced side-effects compared to conventional treatment methods. The growing adoption of companion diagnostics and inclusion of precision medicine in drug development activities also presents new opportunities.

Key Features of the Study:

• This report provides an in-depth analysis of the global precision medicine market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global precision medicine market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Intomics, GENinCode, NanoString, Tepnel Pharma Services Limited, Pfizer Inc., Novartis AG, Teva Pharmaceutical Industries Ltd., Merck & Co. Inc, QIAGEN, Quest Diagnostics Incorporated, Medtronic, Thermo Fisher Scientific Inc., Laboratory Corporation of America Holdings, bioMérieux SA, F. Hoffmann-La Roche Ltd, Eli Lilly & Company, GlaxoSmithKline plc, Cepheid, AstraZeneca PLC, Myriad Genetics Inc., and Bristol-Myers Squibb Company
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global precision medicine market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global precision medicine market.

Market Segmentation

• Technology:
• Bioinformatics
• Gene Sequencing
• Precision Molecular Diagnostics
• Big Data Analytics
• Others
• Application:
• Oncology
• Breast Cancer
• Lung Cancer
• Prostate Cancer
• Colorectal Cancer
• Others
• Central Nervous System
• Hematology
• Immunology
• Respiratory
• Others
• End User:
• Biopharmaceutical Companies
• Diagnostic Laboratories
• Academic & Research Institutions
• Others
• Region:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
• Company Profiles:
• Intomics
• GENinCode
• NanoString
• Tepnel Pharma Services Limited
• Pfizer Inc.
• Novartis AG
• Teva Pharmaceutical Industries Ltd.
• Merck & Co. Inc
• QIAGEN
• Quest Diagnostics Incorporated
• Medtronic
• Thermo Fisher Scientific Inc.
• Laboratory Corporation of America Holdings
• bioMérieux SA
• Hoffmann-La Roche Ltd
• Eli Lilly & Company
• GlaxoSmithKline plc
• Cepheid
• AstraZeneca PLC
• Myriad Genetics Inc.
• Bristol-Myers Squibb Company