Various advancements in the life sciences industry have paved the way for development of several precision medicine solutions. It is one of the most modernized trends in the healthcare industry that has projected tremendous level of progress in the last few years. The completion of the Human Genome project in 2003 and the precision medicine initiative in 2015 provided a path of opportunity to introduce new scientific, medical, and business models in the precision medicine market. The sole idea behind the development of precision medicine solution is to provide targeted therapies to population based on their genomic structure. Therefore, the application of ’omics’ (genomics, proteomics, transcriptomics) analysis is widely used in this market. The precision medicine market is a multibillion market which consists of innumerable companies involved in the research and development, manufacturing and commercialization of several novel drugs and diagnostic kits to boost the Precision Medicine workflow.
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Currently, the precision medicine market is gaining preference among the masses due to the growth of personal healthcare devices and integration of smart technologies in the healthcare system. In addition, increasing collaborations and partnerships between various ecosystem players are aiding in the robust growth of the precision medicine market. The growth in the precision medicine market is propelled by an increasing demand for personalized treatment, technological innovation and advancement (including Biomarker-based tests/kits, next gene sequencing, and precise imaging), government support and regulations, which consequently, have created a demand for the precision medicine solutions. Governmental regulations and standards are sustaining the growth and development of the precision medicine market. The primary aim of these regulations is to make precision medicines more adaptable and focused towards genetic diseases related to oncology, skin, respiratory, central nervous system, cardiovascular, and infectious diseases, among others.
The purpose of this study is to gain a holistic view of the precision medicine market in terms of various influencing factors, such as recent trends, technological advancements, and role of various key stakeholders in the market. The report constitutes an in-depth study of the global precision medicine market, including a thorough analysis of the products across different regions. The study also presents a detailed analysis of the market trends, and the market size for the period 2017-2028, wherein 2017 is the base year, and the years from 2018 to 2028 constitute the forecast period. The report covers all the prevalent trends which are expected to play a significant role in the growth of the market over the forecast period. It also highlights various drivers, restraints, challenges, and opportunities which are expected to influence the market’s growth during the forecast period. The report is focused on the global precision medicine market; ecosystem and technology, application, their market dynamics, growth prospect mapping, SWOT analysis, Porter’s Five Forces, market share analysis, pipeline analysis, and country-wise analysis.
The study provides a holistic perspective on the market growth, in terms of revenue estimates, across different geographies which include North America, Europe, Asia-Pacific (APAC), Latin America, and Rest of the World (RoW). The report provides cross-sectional analysis of the global precision medicine market in terms of market estimates, and projections, for all the segments across different geographical regions. The regions have been further segmented to cover the in-depth country level analysis. The North American region has been segmented into the U.S., and Canada. Similarly, Europe has been further segmented into the U.K., Germany, France, Spain, Italy, and Rest of Europe. Asia Pacific has been segmented into China, Japan, Australia, India, and Rest of Asia Pacific. Latin America has been segmented into Brazil, Mexico, and Rest of Latin America. Moreover, Rest of the World (RoW) has been further segmented into Middle East and Africa.
Key questions answered in the report:
- What are the major market drivers, challenges, and opportunities in the global precision medicine market?
- What are the underlying structures resulting in the emerging trends within the precision medicine market?
- What was the market value of the leading segments and sub-segments of the global precision medicine market in 2017?
- How will each segment of the global precision medicine market grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2028?
- What are the influencing factors that may affect the market share of the key players?
- How will the industry evolve during the forecast period 2018- 2028?
- What are the key developmental strategies which are implemented by the key players to sustain in the competitive market?
- What are the key ecosystem type in the global precision medicine market? What are the major benefits of each type?
- How has the market been segmented on the basis of application type? Which application type is dominating the global precision medicine market and what is the reason behind such domination?
- Which ecosystem type is having the most promising growth and in which application type?
- What is the market share of each of the companies in the global precision medicine market and what are their contributions?
- What is the scope of each type of ecosystem in North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World?
- What is the growth potential of precision medicine in each region, including North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World?
- How many countries are covered in each geographical region? Which country is currently dominating the precision medicine market?
The key players which have been contributing significantly to the precision medicine market include Abbott Laboratories, Almac Group, Amgen, Inc., Astellas Pharma, Inc., AstraZeneca PLC, ASURAGEN, INC., bioMerieux SA, BRISTOL-MYERS SQUIBB COMPANY, CETICS Healthcare Technologies GmbH, Eli-Lilly and Company, F. Hoffmann-La Roche AG, GE Healthcare, GlaxoSmithKline, IBM Corporation, Illumina, Inc., Intomics A/S, JOHNSON & JOHNSON, Laboratory Corporation of America, Merck KGaA, Novartis AG, Pfizer, Inc., QIAGEN, Quest Diagnostics, SANOFI, Teva Pharmaceuticals Limited, and Thermo Fisher Scientific, among others.