Precision Medicine Market

Precision Medicine Market is expected to reach at USD 99,568 Million by 2025 at a 9.2% CAGR during forecast period.

Precision medicine market is gaining momentum over past few years, with trend likely to continue due to novel approach of treatment it offers. Precision medicine deals with preventive health and disease treatment approach based on individual’s genetic profile and lifestyle. The approach offers accurate treatment and disease prevention strategies as against standard therapies that may not be effective for entire population.

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Increasing incidences of cancer and rare disease and the growing adoption of big data in precision medicine to analyze the electronic health record of patients are the major factors fueling the precision medicine market size. Intensified initiatives and grants by government and increasing investment in research and development of precision medicines will expand the market growth. For instance, in May 2021, AdventHealth expanded its genomics program with the data-driven precision medicine initiative to structure and integrate longitudinal patient data with molecular testing, creating a dataset and disease network models to help in better predictability of health system.

In addition, as per the Precision Medicine Market report, the improving healthcare infrastructure, advancements in cancer biologics and the advent of cost-effective techniques, such as whole-genome sequencing and targeted sequencing technologies for the study of genomes and the creation of personalized therapies to treat different illnesses will augment the market growth. The development of latest therapeutics approaches such as gene therapy for cancer treatment and increasing number of patients undergoing predictive diagnosis have strengthened the market size. However, the high cost, threat to personal health data, and shift from the treatment-based approach to the preventive healthcare approach are some factors projected to hamper the Precision Medicine Market Growth.

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Favourable government initiatives are likely to positively influence the precision medicine market growth. For instance, the UK government has devoted USD 212.8 million for developing technologically advanced infrastructure to manufacture innovative medicine such as precision medicine through its Industrial Strategy Challenge Fund initiated in December 2017. While in U.S., in 2015, President Obama launched the Precision Medicine Initiative to encourage research in the field.

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Various notable players operating in the precision medicine market include Illumina, Inc., GE Healthcare, Roche Group, bioMerieux SA, IBM Corporation, Novartis AG, and Abbott Laboratories among others.

The global precision medicine market is categorized into technology, application, and key geographies segments. On the basis of technology, the market has been segmented into Gene Sequencing, Big Data Analytics, Companion Diagnostics, Bioinformatics, and Drug Discovery. On the basis of application, the market is segmented into Oncology, Neurology, Immunology, Respiratory, Hematology, and Others.

Key Developments:

• • In 2022, SEngine Precision Medicine Inc. entered into a partnership with Oncodesign for the R&D of new personalized cancer treatments for aggressive and untreatable tumors.
  • In 2022, AstraZeneca collaborated with Scorpion Therapeutics to develop, discover, and commercialize precision medicines against earlier hard-to-target cancer proteins, potentially transforming oncology treatment

This research report on precision medicines market provides in-depth analysis of the global precision medicine market based on technology, application, and major geographies for the forecast period from 2018 to 2025. The report highlights the major market drivers propelling the growth as well as challenges faced by market participants. The research report provides market size and forecast for precision medicine market. The report also analyses the competitive landscape, major players and their strategies in 2018. The competitive landscape section of the report captures and highlights the recent development in the market.

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Key questions answered in this research report:

1- At what pace is precision medicine market growing? What will be growth trend in future?
2- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
3- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the precision medicines market?
4- What are the various application areas and how they are poised to grow?

The global precision medicines market is segmented on the basis of technology, application, and geography:

Market Segmentation

Global Precision Medicine Market by Technology

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

Global Precision Medicines Market by Application

• •  Oncolog
  •  Neurolog
  •  Immunolog
  •  Respiratory
  •  Hematology
  •  Others

Global Precision Medicines Market by Region

• North America Silicone Gel Market (Option 1: As a part of the free 25% customization)
  • By Technology
  • By Application
  • US Market All-Up
  • Canada Market All-Up

• Europe Silicone Gel Market (Option 2: As a part of the free 25% customization)
  • By Technology
  • By Application
  • UK Market All-Up
  • Germany Market All-Up
  • France Market All-Up
  • Spain Market All-Up
  • Rest of Europe Market All-Up
• Asia-Pacific Silicone Gel Market (Option 3: As a part of the free 25% customization)
  • By Technology
  • By Application
  • China Market All-Up
  • India Market All-Up
  • Japan Market All-Up
  • Rest of APAC Market All-Up
• RoW Silicone Gel Market (Option 4: As a part of the free 25% customization)
  • By Technology
  • By Application
  • Brazil Market All-Up
  • South Africa Market All-Up
  • Saudi Arabia Market All-Up
  • UAE Market All-Up
  • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Precision Medicines Market Competitive Landscape

• • Major Players and their Key Strategies
  • New product launches
  • Mergers and acquisitions
  • Collaborations, partnerships, agreements and joint venture