Precision Medicine Market 2024-2028
The precision medicine market is forecasted to grow by USD 66.2 bn during 2023-2028, accelerating at a CAGR of 12.34% during the forecast period. The report on the precision medicine market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing prevalence of chronic diseases, increasing demand for personalized medicine, and advancements in genomics and proteomics.
Technavio's precision medicine market is segmented as below:
- By Application
- Oncology
- CNS
- Respiratory
- Immunology
- Others
- By Technology
- Bioinformatics
- Gene sequencing
- Drug discovery
- Precision molecular diagnostic
- Big data analytics
- By Geographical Landscape
- North America
- Europe
- Asia
- Rest of World (ROW)
This study identifies the growing use of artificial intelligence (AI) and machine learning (ML) in precision medicine as one of the prime reasons driving the precision medicine market growth during the next few years. Also, integration of genomics and digital health and rising recent developments in precision medicine will lead to sizable demand in the market.
The report on the precision medicine market covers the following areas:
- Precision medicine market sizing
- Precision medicine market forecast
- Precision medicine market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading precision medicine market vendors that include AbbVie Inc., Amgen Inc., AstraZeneca PLC, Biocrates Life Sciences AG, Bristol Myers Squibb Co., Catalent Inc., Eli Lilly and Co., F. Hoffmann La Roche Ltd., Gilead Sciences Inc., IQVIA Holdings Inc., Johnson and Johnson Services Inc., Lonza Group Ltd., Merck and Co. Inc., Novartis AG, Parexel International Corp., Pfizer Inc., QIAGEN NV, Sanofi SA, Takeda Pharmaceutical Co. Ltd., and Thermo Fisher Scientific Inc.. Also, the precision medicine market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.