Precision Medicine Market – Overview
Precision medicine sometimes referred to as “holistic medicine” is a highly specialized way to tailor personalized medicine to specific individuals, taking into consideration differences in genetics, histories, and environments. The aim of precision medicine is to only target the appropriate treatments to the appropriate patients at the appropriate time with the best possible outcomes. It is used to make medical interventions more efficient and less harmful to patients. The global precision medicine market focuses on six regions namely North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The global precision medicine market is expected to witness significant growth during the forecast period, owing to technological advancements in cancer biology.
Precision Medicine Market – Drivers
Increasing collaborative efforts among key companies are expected to drive the growth of the global precision medicine market during the forecast period. Personalized medicine is manufactured specifically for unique individuals based on their predicted response or risk of disease. The demand for personalized medicine has increased in the recent past as physicians can provide more effective drugs and avoid potential side effects. For instance, in May 2021, AdventHealth partnered with Sema4 to launch a precision medicine program. Hence, such factors are expected to drive the growth of the global precision medicine market during the forecast period. Furthermore, technological advancements in cancer biology are expected to propel the global precision medicine market growth over the forecast period.
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Precision Medicine Market – Regional Insights
Among regions, North America is expected to witness significant growth in the global precision medicine market during the forecast period. This is owing to the presence of robust healthcare infrastructure and high investment in R&D activities across the region. Furthermore, Asia Pacific is expected to register a robust growth rate over the forecast period, owing to rising disposable income and improving healthcare infrastructure in the region.
Competitive Section –
Major companies involved in the global precision medicine market are
- Novartis AG
- Ferrer Incode
- Nanostring Technologies, Inc.
- Pfizer, Inc.
- Teva Pharmaceuticals
- Merck & Co., Inc.
- Qiagen N.V.
- Quest Diagnostics
Recently, in February 2019, QIAGEN N.V. received the CE marking for its therascreen PIK3CA RGQ PCR Kit in Europe to enhance precision medicine in advanced breast cancer.
Market Restraint –
High cost associated with precision medicines and stringent regulatory policies is expected to restrain the growth of the global precision medicine market during the forecast period.
Market Taxonomy –
This report segments the global precision medicine market on the basis of technology and application. On the basis of technology, the global precision medicine market is segmented into bioinformatics, gene sequencing, drug discovery, precision molecular diagnostics, and big data analytics. Applications of precision medicine include oncology, CNS, hematology, respiratory, and immunology, among others.
Detailed Segmentation –
Global Precision Medicine Market, By Technology:
- Gene Sequencing
- Drug Discovery
- Precision Molecular Diagnostics
- Big Data Analytics
Global Precision Medicine Market, By Application:
- Breast cancers
- Lung Cancer
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- This report offers a broad and concise analysis of the Precision Medicine market using a robust research methodology and focusing on various data available for the historical period of the past few years.
- Provides in-depth research analysis of the overall Precision Medicine market. which can help save time for start-up businesses related to the Precision Medicine Market.
- The Precision Medicine markets’ latest news, forecast analysis as well as the key competitors of the market are easily available with all the necessary information.
- This Precision Medicine market report comprises graphs, pie charts, and other representations that can help the reader understand the information at a glance.
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Main points in Precision Medicine Market Report Table of Content:
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Precision Medicine Market Size Analysis from 2021 to 2028
11.6 COVID-19 Outbreak: Precision Medicine Industry Impact
Chapter 2 Precision Medicine Competition by Types, Applications, and Top Regions and Countries
2.1 Precision Medicine (Volume and Value) by Type
2.3 Precision Medicine (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Precision Medicine Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Precision Medicine Market Analysis
Chapter 6 East Asia Precision Medicine Market Analysis
Chapter 7 Europe Precision Medicine Market Analysis
Chapter 8 South Asia Precision Medicine Market Analysis
Chapter 9 Southeast Asia Precision Medicine Market Analysis
Chapter 10 Middle East Precision Medicine Market Analysis
Chapter 11 Africa Precision Medicine Market Analysis
Chapter 12 Oceania Precision Medicine Market Analysis
Chapter 13 South America Precision Medicine Market Analysis
Chapter 14 Company Profiles and Key Figures in Precision Medicine Business
Chapter 15 Precision Medicine Market Forecast (2021-2028)
Chapter 16 Conclusions
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