Global Precision Medicine Market Research and Upcoming Forecast Report
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Report Description and Highlights Report Description Precision Medicine Market Outlook 2026:
According to the latest report by IMARC Group, titled “Precision Medicine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global precision medicine market reached US$ 60.70 Billion in 2020. Precision medicine or personalized medicine refers to the emerging approach of preventive healthcare, which focuses on the overall sequencing of the human genome to treat diseases. The approach allows doctors and physicians to study individual responses to therapy, individual profile at a genetic level, as well as their lifestyle and environment. Precision medicine offers various advantages such as improving care quality; eliminating trial-and-error inefficiencies; reducing time, cost, and failure rates of pharmaceutical clinical trials; and guiding the therapy for chronic diseases. It is also increasingly used for predicting the risk of passing on genetic disorders to offsprings. Request for a PDF sample of this report: https:// www.imarcgroup.com/precision-medicine-market/requestsample
Report Description and Highlights
Report Description
Global Precision Medicine Market Trends:
The market is primarily driven by the rising incidences of cancer. The increasing approval of drug and companion diagnostic assays is also propelling the growth of the market. Precision medicine facilitates the cost-effective profiling of DNA, thereby increasing the penetration of high-throughput sequencing platforms. In recent years, there has been an exponential growth in targeted molecules in the pipeline for specific applications, especially in oncology. Besides this, the recent outbreak of coronavirus disease (COVID-19) pandemic has led to the increased utilization of precision medicine techniques to understand the susceptibility, impact, and potential therapies associated with the virus. Furthermore, the integration of biotech and pharma industries with big data healthcare companies helps analyze the patient electronic health record and provides improved clinical decision support, which is fueling the market growth. Moreover, key manufacturers are patenting molecules, along with their companion diagnostics, to achieve a competitive edge and enhance profit margins, which is positively influencing the demand for precision medicine in the healthcare industry. Looking forward, the market value is expected to grow at a CAGR of 11.80% during the forecast period (2021-2026).
Report Description and Highlights
Report Description Key Market Segmentation: Breakup by Product: • • •
Consumables Instruments Services
Breakup by Technology: • • • • •
Big Data Analytics Bioinformatics Gene Sequencing Drug Discovery Companion Diagnostics
Breakup by Application: • • • • •
Oncology Central Nervous System (CNS) Immunology Respiratory Medicine Infections
Report Description and Highlights
Report Description Breakup by Region: • • • • •
North America Asia Pacific Europe Latin America Middle East and Africa
Note: We are updating our research report 2021-2026. If you want to need latest primary and secondary data with Cost Module, Business Strategy, Distribution Channel, etc
Report Description and Highlights
Report Description Competitive Landscape: • • • • • • • • • • • • • • •
AstraZeneca plc Bayer AG bioMérieux SA Bristol-Myers Squibb Company Eli Lilly Company F. Hoffmann-La Roche AG Illumina Inc. Laboratory Corporation of America Holdings Merck KGaA Novartis AG Pfizer Inc. Qiagen N.V. Quest Diagnostics Incorporated Thermo Fisher Scientific Inc.
View Report TOC, Figures and Tables: https://www.imarcgroup.com/precision-medicine-market
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Report Description and Highlights
Report Description
© 2019 IMARC All Rights Reserved This Publication and all it’s contents unless otherwise mentioned are copyrighted in the name of International Market Analysis Research and Consulting (IMARC). No part of this publication may be reproduced, repackaged, redistributed or resold in whole or in any part. The publication may also not be used in any form or by and means graphic electronic or mechanical, including photocopying, recording, taping or by information storage or retrieval, or by any other form, without the express consent of International Market Analysis Research and Consulting (IMARC). Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been based on information and sources believed to be accurate and reliable at the time of publishing. International Market Analysis Research and Consulting makes no representation of warranty of any kind as to the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any loss or damage resulting from opinion, errors or inaccuracies if any found this publication. IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of International Market Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of their respective companies.
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