Precision Medicine Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Precision medicine is used to characterizing the diseases and detailed study on patient specific information to diagnose. The concept based on rapidly growing in the medical community through expansions in advanced technologies including molecular biomarker analysis, next generation sequencing, bioinformatics and big data analytics. Precision medicine helps to make possible the diagnosis and treatment of various diseases by relying on genomics and specific biomarker techniques. The approach allows researchers and doctors to predict more accurately the treatment and prevention strategies for a particular disease.

MARKET SCOPE

The "Global Precision Medicine Market Analysis to 2031" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the precision medicine market with detailed market segmentation by technology, application, and geography. The report provides key statistics on the market status of the leading Precision Medicine market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

• Based on technology, the global precision medicine market is segmented into big data analytics, bioinformatics, gene sequencing, drug discovery, companion diagnostics, other technologies.
• Based on application, the global precision medicine market is segmented into oncology, CNS, immunology, respiratory, other applications.

MARKET DYNAMICS

Drivers

• Increasing prevalance of chronic diseases
• Advancement in cancer biology
• Increasing research and development activities in biotechnology sector
• The availability of large-scale human genome databases coupled with computational tools

Restraints

• Declining FDA pharmacotherapy approval rate

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Precision Medicine market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Precision Medicine market in these regions.

IMPACT OF COVID-19 ON PRECISION MEDICINE MARKET

The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The healthcare industry is conducting precision medicine and genomics research to measure COVID-19 impact and discover potential therapies. Precision medicine has spurred collaborative efforts between governments, and increasing products launches are driving the growth of the market. For instance, in October 2021, Diaceutics PLC launched DXRX The Diagnostic Network. It has been designed to accelerate the end-to-end development and commercialization of precision medicine diagnostics by reducing time to peak biomarker test adoption for cancer testing from years to months.

Precision Medicine Market Report Analysis

Precision Medicine Market

• 
  CAGR (2023 - 2031)

  XX%
• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Report Coverage

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope

• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis

• Industry landscape and competition analysis & recent developments
• Detailed company profiles

• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

• F. Hoffmann-La Roche Ltd
• Quest Diagnostics Incorporated
• Novartis AG
• Bristol-Myers Squibb Company
• Medtronic
• QIAGEN
• Pfizer Inc.
• Thermo Fisher Scientific Inc.
• Eli Lilly and Company

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

By Technology

• Drug Discovery
• Companion Diagnostics
• Gene Sequencing
• Bio-Informatics
• Big Data Analytics

By Application

• Oncology
• Respiratory
• CNS
• Infectious Diseases
• Immunology
• Cardiology
• Other Applications

MARKET PLAYERS

The report covers key developments in the precision medicine market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Precision Medicine market are anticipated to lucrative growth opportunities in the future with the rising demand for Precision Medicine in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Precision Medicine market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

• F. Hoffmann-La Roche Ltd
• Quest Diagnostics Incorporated
• Novartis AG
• Bristol-Myers Squibb Company
• Medtronic
• QIAGEN
• Pfizer Inc.
• Thermo Fisher Scientific Inc.
• Eli Lilly and Company
• AstraZeneca

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Precision Medicine Market Report Scope