Precision Medicine Market Forecast to 2030

The global precision medicine market size was USD 57.69 Billion in 2021 and is expected to register a revenue CAGR of 11.5% during the forecast period, according to latest analysis by Emergen Research. Precision medicine market revenue growth is primarily driven by factors such as advancement in cancer biology, increased adoption of gene therapy globally, increasing use of big data analytics in precision medicine in developed economies, and patient’s involvement in personal healthcare. Precision medicine is an emerging field, which guides therapy according to individual’s genetic makeup, environment, and lifestyle. It helps medical professionals and scientists to develop more precise diagnoses, prognoses, and preventative measures for every given disease. In addition, goal of precision medicine, often known as customized medicine or tailored medicine, is targeting specific mutations that turn healthy cells into malignant ones. Precision medicine's focused treatments, especially for cancer, have fewer adverse effects and faster recoveries compared to standard medicine.

The research report offers in-depth insights into company profiles along with their production values, production capacity, product portfolio, strategic plans such as mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, government and corporate deals, among others. The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry.

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Some Key Highlights of the Report:

• The Big Data Analytics (BDA) segment accounted for a rapid revenue share in 2021. Big Data Analytics (BDA) application in precision medicine permits use of new technologies for both patient care and health administration. It is projected that big data for health will have a substantial impact on precision medicine and stratified healthcare. Frequently, patients with same subtype of cancer respond differently to same chemotherapeutics. Another key driver of big data is widespread deployment of sensor technologies. As a result of technical improvements, such as sensors with improved wireless communications, larger bandwidth, and upgraded microelectronics, wearable and implanted sensing, is becoming increasingly popular. These developments have made possible continuous, multidimensional, and context-aware sensing.
• The oncology segment accounted for largest revenue share in 2021. Precision oncology is a rapidly growing and promising research field. Precision oncology enables personalized therapy based upon molecular & genetic characteristics of an individual. In addition, precision oncology's ultimate objective is to enhance patient outcomes. Traditional cancer treatments, such as chemotherapy, are cytotoxic to majority of cells, thus they can harm healthy cells while destroying cancer cells. In the era of precision oncology, targeted medicines are largely viewed as foundation for future therapy paradigms.
• The pharmaceutical companies segment accounted for a significant revenue share in 2021. Precision medicine transforms entire pharmaceutical value chain, from early development to go-to-market strategies and it is crucial for pharmaceutical companies to capitalize on this potential over the next five years. In response to demand from government agencies, regulators, and payers for real-world evidence of a drug's efficacy and value for those stakeholders, pharmaceutical companies have adopted a new approach for creating and manufacturing personalized medicine.

The global Precision Medicine market report employs an extremely extensive and perceptive process that analyzes statistical data relating to services and products offered in the market. The research study is a pivotal document in understanding the needs and wants of the clients. The report is comprised of significant data about the leading companies and their marketing strategies. The Precision Medicine industry is witnessing an expansion and change of dynamics owing to the entry of several new players.

The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.

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List of Key Players Mentioned in the Precision Medicine Market Research Report:

Biocrates Life Sciences, Tepnel Pharma Services, Menarini Silicon Biosystems, NanoString Technologies, Quest Diagnostics, Qiagen, Teva Pharmaceutical, Eagle Genomics, Novartis, Pfizer

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The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market. 

Market Overview:

The report bifurcates the Precision Medicine market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Segments Covered in this report are:

• Technology Outlook (Revenue: USD Billion; 2019-2030)

  • Big Data Analytics
  • Bioinformatics
  • Gene Sequencing
  • Drug Discovery
  • Companion Diagnostics
  • Others

• End-Use Outlook (Revenue: USD Billion; 2019-2030)

  • Pharmaceutical Companies
  • Diagnostic Companies
  • Healthcare IT companies
  • Others

• Application Outlook (Revenue: USD Billion; 2019-2030)

  • Oncology
  • Immunology
  • CNS
  • Respiratory
  • Others

Regional Analysis Covers:

• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Furthermore, the report provides the analytical data in an organized format segmented into charts, tables, graphs, figures, and diagrams. This enables readers to understand the market scenario in an easy and beneficial manner. Moreover, the report aims to impart a prospective outlook and draw an informative conclusion to assist the reader in making lucrative business decisions. The report, in conclusion, provides a detailed analysis of the segments expected to dominate the market, the regional bifurcation, the estimated market size and share, and comprehensive SWOT analysis and Porter’s Five Forces Analysis.

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About Us:

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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