Precision medicine refers to medicines developed as per an individual’s genetic profile that helps as a guide for the prevention, diagnosis and treatment of diseases. The global precision medicine market was valued at $38.92 billion in 2015, and is expected to reach $88.64 billion by 2022. Thus the market is expected to perform a growth at a CAGR of 12.48% from 2015 to 2022.
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The major market driving factor for precision medicine are patient’s involvement in personal healthcare, integration of wireless technologies with portable healthcare devices, and increase in genetic diseases (due to mutation, UV rays) among others.
The market constraints include potential threat to personal data, high diagnostic cost as a barrier, potential risk of hardware or software failure, stringent regulations and standards, lack of awareness about the possible applications of precision medicine, reimbursement policies and regulatory framework, limited knowledge about the application of test and techniques, lack of research and evidences creating hindrances in its application.
Study Objectives Global Precision Medicine Market:
To provide detailed analysis of the market structure along with forecast for the next 7 years of the various segments and sub-segments of the global precision medicine market
To provide insights about factors affecting the market growth
To analyze the market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- Americas, Europe, Asia-Pacific, and Middle East & Africa.
To provide country level analysis of the market with respect to the current market size and future prospective
To provide country level analysis of the market for segments by ecosystem (pharma & biotech companies, diagnostic tool companies, healthcare it/ big data companies, clinical laboratories), by sub-markets (companion diagnostics, biomarker-based test, targeted therapeutics, pharmacogenomics, molecular diagnostics, others), by therapeutics (cancer/oncology, cardiovascular disease, central nervous system, infectious diseases, others)
To provide overview of key players and their strategic profiling in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments globally.
Global Precision Medicine Market, by Region 2015 & 2022 (USD million)
Global Precision Medicine manufacturers
Global Precision Medicine suppliers
Research and Development Laboratories
Market Research and Consulting Service Providers
The global precision medicine market is expected to reach USD 88.64 billion by 2022.
By ecosystem diagnostic tool companies holds the largest market share of precision medicine market and is expected to reach USD 27.56 billion by 2022.
By sub-market, company diagnostics holds the largest market share of precision medicine market and is expected to reach USD 21.32 billion by 2022.
Key Players for Global Precision Medicine Market:
Abbott Laboratories, Almac Group, Ltd., Asuragen, Inc., Biomérieux Sa, Cepheid Inc., Cetics Healthcare Technologies Gmbh, Ge Healthcare, Glaxosmithkline Plc, Johnson & Johnson, Laboratory Corporation Of America Holdings, Medtronic, Novartis, Pfizer Inc., Qiagen, Biobase Gmbh, Quest Diagnostics Inc, Randox Laboratories Ltd., Sanofi Pharma, Takeda Pharmaceutical Company Limited, Teva Pharmaceutical Industries Ltd., Ab-Biotics Sa, Caris Life Sciences, Healthcore, Inc., Ibm, Innventis, Intel Corporation, Molecular Health Gmbh, Precision For Medicine
Global Precision Medicine market has been segmented on the basis of ecosystem, sub-market, therapeutics and region.
Regional Analysis of Global Precision Medicine Market:
Globally North America is the largest market for global precision medicine. Europe is the second-largest market for global precision medicine. The near future market for precision medicine will be dominated by the developed regions with developing regions providing a supporting role only. However the developing regions market particularly Asia Pacific will be the fastest growing and is likely to be the key to the future.
The report for Global Precision Medicine Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different markets segments and regions.
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