[Latest] Global Precision Medicine Market Size/Share Worth

Austin, TX, USA, July 20, 2023 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Precision Medicine Market Size, Trends and Insights By Technology (Big data analytics, Bioinformatics, Gene sequencing, Companion diagnostics, Others), By Application (Immunology, Respiratory, Oncology, Central nervous system, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” in its research database.

“According to the latest research study, the demand for global Precision Medicine Market size & share was valued at approximately USD 78.58 Billion in 2021 and is expected to reach USD 89.16 Billion in 2022 and is expected to reach a value of around USD 189.64 Billion by 2030, at a compound annual growth rate (CAGR) of about 11.5% during the forecast period 2022 to 2030.”

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Market Overview:

The increasing prevalence of chronic diseases among people which requires better and advanced medicines has boosted the demand for precision medicine to a great extent. The life expectancy of the people has been increased due to the modern medicines which have been introduced by the key market players, this gives rise to a number of chronic diseases among the people which require precision medicine with a view to bringing about a cure in a shorter period of time. The extensive research and development which has been carried out by the key market players with a view to introducing advanced medicines into the market have boosted the need for precision medicine.

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Market dynamics

Drivers

The increasing demand for modern medicine due to the growing number of cases suffering from chronic diseases has propelled the demand for precision medicine. The use of precision medicine has been observed with a view to judge and evaluate the condition of a patient well in advance which will facilitate cure as soon as the disease develops. Rapid advancements which have been observed in the healthcare sector have proved to be the driving factors for the advancement of the precision medicine market during the forecast period.

Restraints

The increasing cost of the various services and facilities provided by the healthcare sector due to the use of modern medicines and technologies has proved to be a great obstacle to the advancement of the physician medicine market. A shortage of disposable income in the hands of the people as a result of inflation has also hindered the growth of the market to a great extent. These reasons have emerged as the restraining factors for the precision medicine market as far as the future period is concerned.

(A free sample of the Precision Medicine report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
About 220+ Pages Research Report (Including Recent Research)
Provide detailed chapter-by-chapter guidance on the Request.
Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2022
Includes Tables and figures have been updated.
The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
Custom Market Insights (CMI) research methodology

(Please note that the sample of the Precision Medicine report has been modified to include the COVID-19 impact study prior to delivery.)

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Opportunities

The active support of the government and insurance companies in the form of reimbursement facilities has helped people to opt for precision medicine and modern technologies to treat various chronic diseases. The increasing life expectancy of people all over the world has boosted the demand for modern technologies and advanced medicines with a view to maintaining the health of the people. Rising awareness regarding the healthcare sector has also proved as a great opportunity for the precision medicine market and is expected to provide a significant return during the forecast period.

Challenges

The use of modern medicine and advanced technologies has given rise to a number of side effects that the patients have to deal with, this proves as a challenge for the advancement of the market. The strict rules and regulations which have been laid by the government regarding the use of modern medicines and technologies have proved to be a challenging point for the advancement of the precision medicine market.

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Report highlights

On the basis of technology, the segment of drug discovery has shown tremendous growth due to the increasing demand for advanced medicines in the market. Key market players are conducting research and development programs with a view to introducing new medicines into the market which will bring about cures in the patients in a shorter duration of time.

The deficiency of the drugs is evaluated with the help of pharmacogenomics which helps to boost the market for precision medicine. Bioinformatics forms the next largest segment under this category which proves to be a major development in this sector. On the basis of application, the Department of Oncology has proved to be the fastest growing market due to the increasing number of cancer patients all over the world. The faulty lifestyle practices due to rapid modernization and organization have given rise to a huge number of cancer cases globally.

The other segments which have been considered under this category are the CNS and immunology which have become a matter of concern with the increasing number of chronic diseases. Precision medicine helps in evaluating the condition of the patients well in advance and carries out a suitable treatment with a view to bringing about a cure. The lesser number of side effects which are produced with the help of precision medicine has made it the first choice among people with a view to treating various chronic diseases. On the basis of geography, the region of North America has shown tremendous growth due to the high number of individuals suffering from chronic diseases who require precision medicine with a view to being treated successfully. The existence of key market players in this region has also boosted the demand for precision medicine in the market.

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Key questions answered in this report:

What is the size of the Precision Medicine market and what is its expected growth rate?
What are the primary driving factors that push the Precision Medicine market forward?
What are the Precision Medicine Industry's top companies?
What are the different categories that the Precision Medicine Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the Precision Medicine market sample report and company profiles?

Key Offerings:

Market Share, Size & Forecast by Revenue | 2022−2030
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional snapshots

The geographical sector of North America has proved to be the largest market for precision medicine due to the huge geriatric population residing in this region which suffers from a number of chronic diseases and requires modern medicine with a view to be treated in a shorter period of time. The developed status of this region has increased the disposable income available in the hands of the masses which makes it possible for them to opt for advanced medical facilities which have also been supported by the government in the form of reimbursement facilities through the health insurance companies.

The region of Europe proves to be the other larger sector for the precision medicine market due to the advanced healthcare facilities which are granted by the government with a view to provide better facilities to the people and protect them from diseases. The region of Asia Pacific which is a developing sector is making use of advanced health care facilities with a view to increasing the life expectancy of the people with a view to boosting the fundamental status of the country. The Middle Eastern region has also shown considerable growth in the size of the market owing to the rapid advancements which have been observed in the healthcare sector.

Report Scope

Feature of the Report	Details
Market Size in 2021	USD $78.58 billion
Projected Market Size in 2030	USD 189.64 billion
CAGR Growth Rate	11.5% CAGR (2022-2030)
Base Year	2022
Forecast Period	2023-2032
Prominent Players	Novartis, Qiagen, Biocrates Life Sciences, Tepnel Pharma Services, Quest Diagnostics, Menarini Silicon Biosystems, Pfizer, Intomics, NanoString Technologies, Eagle Genomics, Roche, Teva Pharmaceutical, and Others
Key Segment	By Technology, Application and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

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Key Market Players

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

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Recent Developments

In May 2018 – Approval was granted to the Advanced diagnostic laboratory procedure by the Foundation Medicine regarding Foundation One CDx which is put into use in the case of solid tumours.

Segments covered in the report on the precision medicine market

By Technology

Bioinformatics
Big Data Analytics
Drug Discovery
Gene Sequencing
Companion Diagnostics
Others

By Application

CNS
Immunology
Oncology
Respiratory
Others

By End-Use

Diagnostic Companies
Pharmaceutical Companies
Healthcare IT companies
Others

By Sequencing Technology

Sequencing by Synthesis
Ion Semiconductor Sequencing
Sequencing by Ligation
Pyrosequencing
Single Molecule Real Time Sequencing
Chain Termination Sequencing
Nanopore Sequencing

By Product

Consumables
Instruments
Services

By Route of Administration

Oral
Injectable

By Drugs

Alectinib
Osimertinib
Mepolizumab
Aripiprazole Lauroxil
Others

Click Here to Get a Free Sample Report of the Global Precision Medicine Market @ https://www.custommarketinsights.com/report/precision-medicine-market/

On the basis of Geography

North America

The U.S.
Canada
Mexico

Europe

France
The UK
Spain
Germany
Italy
Rest of Europe

Asia Pacific

China
Japan
India
Australia
South Korea
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

This Precision Medicine Market Research/Analysis Report Contains Answers to the following Questions.

Which Trends Are Causing These Developments?
Who Are the Global Key Players in This Precision Medicine Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Global Market Status of the Precision Medicine Market? What Was the Capacity, Production Value, Cost and PROFIT of the Precision Medicine Market?
What Is the Current Market Status of the Precision Medicine Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Precision Medicine Market by Considering Applications and Types?
What Are Projections of the Global Precision Medicine Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is Precision Medicine Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On Precision Medicine Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
What Are Market Dynamics of Precision Medicine Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Precision Medicine Industry?

Click Here to Access a Free Sample Report of the Global Precision Medicine Market @ https://www.custommarketinsights.com/report/precision-medicine-market/

Reasons to Purchase Precision Medicine Market Report

Precision Medicine Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
Precision Medicine Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
Precision Medicine Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
Precision Medicine Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

The study provides a thorough overview of the global Precision Medicine market. Compare your performance to that of the market as a whole.

Aim to maintain competitiveness while innovations from established key players fuel market growth.

Buy this Premium Precision Medicine Research Report | Fast Delivery Available - [220+ Pages] @ https://www.custommarketinsights.com/report/precision-medicine-market/

What does the report include?

Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Precision Medicine market analysis.

The competitive environment of current and potential participants in the Precision Medicine market is covered in the report, as well as those companies' strategic product development ambitions.

According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

Participants and stakeholders worldwide Precision Medicine market should find this report useful. The research will be useful to all market participants in the Precision Medicine industry.
Managers in the Precision Medicine sector are interested in publishing up-to-date and projected data about the worldwide Precision Medicine market.
Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Precision Medicine products' market trends.
Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.

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