The major market driving factor for precision medicine are patient’s involvement in personal healthcare, integration of wireless technologies with portable healthcare devices, and increase in genetic diseases (due to mutation, UV rays) among others.
The global precision medicine market size was valued at $38.92 billion in 2015, and is expected to reach $88.64 billion by 2025. Thus the market is expected to perform a growth at a CAGR of 12.48% from 2015 to 2025.
Precision medicine evolved from the concept that same medicine cannot function equally for two different individuals with the same disease as they have different gene structure. At the same time, medication depends on how well patients can respond to its dosage. Hence, the need for precision medicine. Market Research Future (MRFR), in their report, has included various drivers and segments that can produce a reliable prediction for the future market. Prevalent diseases such as cancer, diabetes, and others are boosting the precision medicine market as treatment of such diseases gets a better result with personalized medicine structure. Furthermore, its impact can significantly lower the cost of treatment.
However, a personal data breach can be seen as a major precision medicine market growth prohibition. The diagnostic cost can incur a high cost, stringent government policies, the risk with hardware and software failure, and lack of medical framework can hold back the market during the forecast period.
Key Players for Global Precision Medicine Market:
Abbott Laboratories, Almac Group, Ltd., Asuragen, Inc., Biomérieux Sa, Cepheid Inc., Cetics Healthcare Technologies Gmbh, Ge Healthcare, Glaxosmithkline Plc, Johnson & Johnson, Laboratory Corporation Of America Holdings, Medtronic, Novartis, Pfizer Inc., Qiagen, Biobase Gmbh, Quest Diagnostics Inc, Randox Laboratories Ltd., Sanofi Pharma, Takeda Pharmaceutical Company Limited, Teva Pharmaceutical Industries Ltd., Ab-Biotics Sa, Caris Life Sciences, Healthcore, Inc., Ibm, Innventis, Intel Corporation, Molecular Health Gmbh, Precision For Medicine
Key Findings:
- The global precision medicine market is expected to reach USD 88.64 billion by 2025.
- By ecosystem diagnostic tool companies holds the largest market share of precision medicine market and is expected to reach USD 27.56 billion by 2025.
- By sub-market, company diagnostics holds the largest market share of precision medicine market and is expected to reach USD 21.32 billion by 2025.
Segmentation
The global precision medicine market has been segmented into ecosystem players, sub-markets, and therapeutics.
Based on ecosystem players, the global market has been segmented into pharmaceuticals and biotechnology companies, diagnostic companies, healthcare IT specialists/big data companies, and clinical laboratories. The diagnostic tool companies segment accounted for a market value of USD 16.27 million in 2017.
Based on sub-markets, the global market has been segmented into companion diagnostics, biomarker-based test, targeted therapeutics, pharmacogenomics (PGX), molecular diagnostics, and others.
Based on therapeutics, the global market has been segmented cancer/oncology, cardiovascular disease (CVD), central nervous system, infectious diseases, and others.
Regional Analysis
Globally North America is the largest market for global precision medicine. Europe is the second-largest market for global precision medicine. The near future market for precision medicine will be dominated by the developed regions with developing regions providing a supporting role only. However the developing regions market particularly Asia Pacific will be the fastest growing and is likely to be the key to the future.
Browse More Pharmaceutical Reports @ https://www.marketresearchfuture.com/categories/pharmaceutical-market-report
List of Tables
Table 1 Leading Companies In The Precision Medicine Market 37
Table 2 Downsizing Cost Of Genome Sequencing 74
Table 3 Factors Impacting The Buyer’s Bargaining Power 80
Table 4 Factors Impacting The Supplier’s Bargaining Power 81
Table 5 Factors Impacting The Threat From Substitute 82
Table 6 Factors Impacting The Threat From New Entrant 83
Table 7 Factors Impacting The Degree Of Competition 84
Table 8 Regulatory Bodies In Precision Medicine Market 87
Table 9 Consortiums In Precision Medicine Market 93
Table 10 Alliances/Associationsin Precision Medicine Market 94
Table 11 Global Precision Medicine Market Value, By Ecosystem Players, 2014-2025 ($Billion) 97
Table 12 Pharma & Biotech: Global Precision Medicine Market Value, By Sub-Market Types, 2014-2025 ($Billion) 100
List of Figures
Figure 1 Precision Medicine Market Study 27
Figure 2 Research Methodology 29
Figure 3 Different Phases Of Research Methodology For The Global Market 30
Figure 4 Precision Medicine Market: Research Methodology 32
Figure 5 Global Precision Medicine Market Share, By Ecosystem, 2014-2025 ($Billion) 38
Figure 6 Global Precision Medicine Market Size, By Sub-Market Type, 2014 – 2025 (Billion) 39
Figure 7 Global Precision Medicine Market Size, By Therpeutic Application, 2014 – 2025 (Billion) 40
Figure 8 Global Precision Medicine Market Size, By Geography, 2014 – 2025 ($Billion) 41
Figure 9 Timeline Of Precision Medicine 43
Figure 10 Precision Medicine: Benefits 45
Figure 11 Examples: Applied Areas Of Precision Medicine 46
Figure 12 Elements Of Precision Medicine Technology 47
Figure 13 Different Type Of Data Used By Big Data Companies 48
Figure 14 Precision Medicine: Areas Of Interest 49
Figure 15 Precision Medicine: Partnerships, Agreements, And Collaborations (2015) 53
Figure 16 Precision Medicine: Mergers & Acquisitions( 2015) 55
Figure 17 Precision Medicine: Key Product Launch & Developments (2015) 57
...TOC Continued!
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