Global Precision Medicine Market Size, Forecasts, And Opportunities – Includes Precision Medicine Market Share
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 precision medicine market is expected to grow from $53.57 billion in 2020 to $90.04 billion in 2025 at a rate of 10.9%. The global precision medicine market size is then expected to grow at a CAGR of 8.7% from 2025 and reach $136.37 billion in 2030.
Increasing aging population is expected to increase the prevalence of cancer cases contributing to the growth of the precision medicine market.
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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 genes, environment, and lifestyle. It is an emerging approach for disease treatment and prevention that takes into account individual variability in genes, environment, and lifestyle for each person. 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 End-User: Pharmaceuticals, Diagnostic Companies, Healthcare and IT Firms, Others
By Technology: Big Data Analytics, Bioinformatics, Gene Sequencing, Drug Discovery, Companion Diagnostics, Others technology
By Application: Oncology, Respiratory Diseases, Central Nervous System Disorders, Immunology, Genetic Diseases, Other Applications
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 global precision medicine market, accounting for 34.9% of the total in 2021
Precision medicine companies are integrating artificial intelligence, machine learning and data analytics applications to treat the world’s most complex diseases and inheritable disorders. The advancements in technology has created new opportunities for precision medicine companies to use artificial intelligence and machine learning in precision medicine, virtual diagnosis and patient monitoring. AI provides access to a large amount of patient data that can then be used to study different conditions and conduct cancer diagnostics. The precision medicine approach using AI has enabled early diagnosis and intervention of a large number of chronic diseases.
TBRC’s precision medicine market report covers:
Major Market Players: Quest Diagnostics, Thermo Fisher Scientific Inc., Roche Holding AG, Medtronic plc, Novartis AG
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 (2016-21) and ten years forecast (2022-2026-2031)
The Precision Medicine Market Report 2022 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:
Bioinformatics Global Market Report 2022
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Gene Editing Global Market Report 2022
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