The Global Precision Medicine Market report, released by Emergen Research, provides the target audience with the key information pertaining to the global Precision Medicine Market industry. We provide detailed product mapping and investigation of various market scenarios. Our expert analysts provide a thorough analysis and breakdown of the market presence of key market leaders.
The global Precision Medicine Market is expected to reach USD 132.66 Billion by 2027, according to a new report by Emergen Research. The proliferation of sequencing methodologies, especially Next Generation Sequencing (NGS), is expected to drive the market due to the increasing sequencing costs and the advancement of the Human Genome Project in the field of genomics.
The rising incidence of chronic and unusual diseases triggers the need to build technically innovative methods for accelerated medical data aggregation and review. The bioinformatics program helps in data processing by rendering successful therapeutic approaches. As a consequence, the growing volume of data in the healthcare sector would fuel demand for bioinformatics, raising competition in the industry for precision medicine.
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The prominent players profiled in the report are:
Biocrates Life Sciences, Tepnel Pharma Services, Menarini Silicon Biosystems, NanoString Technologies, Quest Diagnostics, Qiagen, Teva Pharmaceutical, Eagle Genomics, Novartis, and Pfizer, among others.
The creation of bioinformatics tools and applications would promote the production of immunotherapy and thus boost the study of microbiomes, thus advancing the area of precision medicine. Besides, the development of high-throughput technologies such as next-generation sequencing and microarray will pave the way for market growth in bioinformatics, which will further drive market demand in the coming years.
Some Key Highlights from the Report
Based on technology, drug discovery is projected to grow with a CAGR of 9.8% in the forecast period, due to the growing emphasis of bio-pharmaceutical players on developing precision medicine for treating diseases, including cancer, which will further boost the market growth.
The diagnostic companies expected to grow with a CAGR of 10.4% in the forecasted period, owing to a wide variety of applications for which big players in the precision medicine industry are engaged in various investment programs.
The oncology application is the major contributor to the Precision Medicine Market. The segment is growing due to the rising frequency and prevalence of cancer worldwide, which will intensify the demand for precision medicine as an essential form of therapy coupled with developing tailored treatments for patients with cancer dependent on their genetic makeup over traditional chemotherapy.
North America dominated the market for Precision Medicine in 2019. The region's consistent focus on cost-effective and innovative procedures that are adopted in the area is driving the market.
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For the purpose of this report, Emergen Research has segmented into the global Precision Medicine Market on the basis of technology, end-use, application, and region:
Technology Outlook (Revenue: USD Billion; 2017-2027)
Big Data Analytics
Bioinformatics
Gene Sequencing
Drug Discovery
Companion Diagnostics
Others
End-Use Outlook (Revenue: USD Billion; 2017-2027)
Pharmaceutical Companies
Diagnostic Companies
Healthcare IT companies
Others
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Application Outlook (Revenue: USD Billion; 2017-2027)
Oncology
Immunology
CNS
Respiratory
Others
Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
US.
Canada
Europe
Germany
UK
France
BENELUX
Rest of Europe
Asia Pacific
China
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
MEA
Saudi Arabia
UAE
Rest of MEA
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Key Benefits of the Report:
· Comprehensive analysis of the competitive scenario and its changing dynamics
· Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
· In-depth 8-year analysis of the Global Precision Medicine Market
· Critical understanding of the key market segments
· Comprehensive analysis of the drivers, restraints, trends, and opportunities
· Detailed regional analysis and extensive company profiling
· Extensive assessment of current and emerging trends of the market
Thank you for reading the report. The report can be customized as per the requirements of the clients. For further information or query about customization, please reach out to us, and we will offer you the report best suited for your needs.
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