Global Precision Medicine Market

Global Precision Medicine Market Size, Forecasts, And Opportunities

Learn about the global precision medicine market through The Business Research Company, which provides information on precision medicine market size, precision medicine market drivers and restraints, precision medicine market players, the COVID-19 impact on the precision medicine market, and more.

The global precision medicine market is expected to grow from $62.75 billion in 2020 to $72.58 billion in 2021 at a compound annual growth rate (CAGR) of 15.7%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The precision medicine market is expected to reach $118.32 billion in 2025 at a CAGR of 13%.

The rising prevalence of cancer is expected to drive innovation in precision medicine manufacturing, thus driving the market during the forecast period.

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The precision medicine market consists of sales of precision medicines and related services by entities (organizations, sole traders, and partnerships) that are used to treat diseases by relying on genomics and specific biomarker techniques. It allows doctors or physicians to select a treatment plan or drug therapy based on the patient’s genetic understanding of their disease, environment, and lifestyle. The precision medicine technologies also assist researchers and doctors in developing accurate treatment and prevention strategies for a particular disease that will work on a specific group of people.

Global precision medicine market segments include:

By Technology: Big Data Analytics, Bioinformatics, Gene Sequencing, Drug Discovery, Companion Diagnostics, Others

By Application: Oncology, Respiratory Diseases, Central Nervous System Disorders, Immunology, Genetic Diseases, Others

By End-User: Hospitals And Clinics, Pharmaceuticals, Diagnostic Companies, Healthcare And IT Firms, Others

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the precision medicine market in 2020.

The development of novel precision medicine for pancreatic cancer is shaping the precision medicine market. Extensive research is being undertaken on different approaches to develop precision medicines for pancreatic cancer.

TBRC’s precision medicine market report covers:

Major Market Players: Qiagen, Novartis AG, Medtronic, AstraZeneca plc., Quest Diagnostics, Thermo Fisher Scientific Inc., Pfizer, Bristol-Myers Squibb, Merck & Co. Inc., Tepnel Pharma Services, Abbott Laboratories, Takeda Pharmaceutical Company Ltd., and Eli Lilly and Company.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

The Precision Medicine Global Market Report 2021: COVID-19 Growth And Change to 2030 is one of a series of new reports from The Business Research Company that provides precision medicine market overviews, analyzes and forecasts market size, share, precision medicine market players, precision medicine market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s precision medicine market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Here is a list of similar reports from The Business Research Company:

Big Data And Analytics Global Market Report 2021

Bioinformatics Global Market Report 2021

Sequencing Market

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