Precision medicine aims to integrate personalized health data both from direct (quantifiable) and indirect (quantifiable) sources probing the deepest mysteries affecting individual health and well-being. Rising pressures to decrease healthcare cost globally, emergence of value-based reimbursement models, and healthcare digitization trends are transitioning the treatment model from ‘One-size-fits-all’ to stratified and outcome-based targeted therapies called precision medicine.
In the past few decades, our scientific knowledge and technological advancements around genomics has increased exponentially, making cost and time no longer a barrier for population-level genome profiling. Integration of these genomic and lifestyle data into clinical workflow to derive deeper insight into genetic and chronic deceases is unique to the precision medicine concept. However, the precision medicine concept is a nascent one that needs further refinement at fundamental levels with incremental progress towards more effective and targeted drugs that are precisely accurate in reducing the treatment uncertainty, to ultimately revolutionize the care delivery model in the long run. Also, the current legal and ethical frameworks both at global and regional levels were built with a very different generation of medical products and practices in mind and raise some serious challenges for the revolutionary concept of precision medicine practice.
The research service analyzes the key building-blocks for precision medicine ecosystem to provide strategic imperatives and growth opportunities for key industry participants. The study also captures both global and regional flavours for precision medicine market opportunity realization such as market projections, drivers and restraints, country readiness index, and major government and commercial initiatives. Finally, the study provides live case studies and innovative business models for leading select companies in the precision medicine space.
Key Questions This Study Will Answer:
- What is Precision Medicine and its impetus for the healthcare industry?
- What does the precision medicine ecosystem look like? Who are the key stakeholders and what are their roles?
- What are the current gaps in the precision medicine ecosystem and how can these be filled by industry partners?
- How big is the precision medicine market? What are the growth opportunities by major therapeutic areas, market segments, and technologies?
- What are the major market drivers and restraints for the precision medicine market and what are their use cases?
- Which countries demonstrate the highest growth opportunities for precision medicine? How are the regulatory and reimbursement landscapes evolving across these countries?
- What are the most promising business models emerging in the healthcare space to enable precision medicine practice?
- What are the strengths of my business against competition? Are these strengths sustainable over the next 5-10 years?
- What winning and losing strategies can be gleaned from the existing market case studies and companies to watch?