Developments in The Human Genome Project have given tailwinds to the growth witnessed in the global precision diagnostics market. Fortune Business Insights shared this information in a report, titled “Precision Diagnostics Market Size, Share and Global Trend By Type (Genetic tests, Esoteric tests), End Users (Hospitals, Clinical laboratories) and Geography Forecast till 2026.” The project focused on the development of novel precision medicine to facilitate tailored diagnosis as per a patient’s specifications. Moreover, the project introduced some cutting-edge technologies such as targeting sequencing and genome sequencing. Researchers are adopting these technologies to create personalized precision medicine and therapies for the treatment of rare disorders.
The report covers:
- Global Precision Diagnostics Market trends, with detailed analysis on consumer trends & manufacturer trends.
- Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors.
- Key areas of investments identifying market opportunities and challenges in forecast timeframe.
- Competitive analysis of the industry players along with the overview on strategic management.
- Comprehensive company profiles of the major industry players.
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Leading Players operating in the Precision Diagnostics Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Pfizer Inc.
- Novartis AG
- Bayer AG
- GlaxoSmithKline plc.
- Boehringer Ingelheim International GmbH
- Bluebird bio, Inc.
- uniQure N.V.
- Amgen Inc.
- CELGENE CORPORATION.
Government-backed Investments and Presence of a Well-equipped Infrastructure Encourage Growth in North America
Among regions, North America is anticipated to dominate the global precision diagnostics market between 2018 and 2026. The presence of a well-established healthcare infrastructure in the region is driving the market. This, coupled with rising governments support for the development of precision diagnostics, enhances the market’s growth. In addition to this, the rising number of research and development (R&D) investments by government bodies is expected to register growth in the market by 2026.
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Market Progresses with DxTerity’s Launch of a New AIP Test for Home Patients
“Recent advancements in gene therapy such as gene sequencing, companion diagnostics among others can help to treat severe illness,” stated a lead analyst at Fortune Business Insights. “Development of precision therapies for the treatment of cancer and Alzheimer’s is likely to contribute to the revenue of the global market,” he added. The rising prevalence of neurological disorders is also expected to fuel demand for precision diagnosis in the forecast horizon. Companies are also planning to focus on strategies to develop precision medicines, catering to specific patient’s requirements. For instance, DxTerity Diagnostics Inc. developed a new test called autoimmune profile (AIP) test in October 2018. This test is cost-effective and is catered to home patients. Tailor-made precision diagnosis of acute infectious diseases medicine is anticipated to gain popularity as these medicines fit in every individual’s frame. This will further drive the precision diagnostics market.
Segmentation of the Global Precision Diagnostics Market:
- Genetic tests
- Esoteric tests
By End User
- Clinical laboratories
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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- Extensive product offerings
- Customer research services
- Robust research methodology
- Comprehensive reports
- Latest technological developments
- Value chain analysis
- Potential Precision Diagnostics Market opportunities
- Growth dynamics
- Quality assurance
- Post-sales support
- Regular report updates
Reasons to Purchase this Report:
- Comprehensive analysis of the Precision Diagnostics Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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