Recent report published by research nester titled “Precision Medicine Market: Global Demand Analysis & Opportunity Outlook 2027”delivers the detailed overview of the global precision medicine market in terms of market segmentation by product, by technology, by sequencing technology, by application, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global precision medicine market can be segmented on the basis of product, technology, sequencing technology, application, end user and region. On the basis of product, it is sub-segmented into instruments, consumables and services. Based on technology, it is sub-segmented into transcriptomics, genomics and epigenomics. On the basis of sequencing technology, it is sub-segmented into ion semiconductor sequencing, pyrosequencing, single molecule real time Sequencing, chain termination sequencing, sequencing by synthesis, sequencing by ligation and nanopore sequencing.
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Based on application, it is sub-segmented into immunology, CNS, oncology, respiratory medicine, infections and others. On the basis of end user, it is sub-segmented into pharma & biotech companies, diagnostic tool companies, big data companies and clinical laboratories. The market across the globe is exclusively focusing to provide specific tailored treatments to patients are also concentrating on proving the best possible treatment for cancer patients. These factors are anticipated to boost the growth of the global precision medicine market in upcoming years.
The global precision medicine market is anticipated to expand at a CAGR around 10.6% during 2019-2027. Increment in the growth of personal healthcare devices along with rise in investment in the research and development is expected to augment the market shares. Further, the rapid development in the field of bioinformatics combined with high adoption rate of gene therapy are some of the significant factors that are estimated to positively affect the growth of the market.
By region, the global precision medicine market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. Among these region, North America is expected to dominate the global market of precision medicine on account of increasing cases related to rare genetic disorders and various initiatives taken by the regulatory bodies in support of the market. Further, the rising investment in the research and development in the field of precision medicine coupled with rising healthcare infrastructure are some of the factors that are augmenting the growth of market in this region. In the Europe region, Germany is expected to have the largest market share on the back of rising pediatric and adult population susceptible to metabolic diseases. Additionally, rising investment in the healthcare sector by various private and government organizations coupled with various technological advancements in this field is anticipated to boost the market growth over the forecast period.
Vibrant Growth of Precision Medicine
Rapid development in the field of bioinformatics, increasing growth of personal healthcare devices, growing rate of improvement in the field of targeted therapies and higher adoption rate of gene therapy is anticipated to drive the global precision market over the forecast period.
However, the security issues associated with the handling of large volume of genetic sequenced data might hinder the growth of the market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global precision medicine market which includes company profiling of key companies such as Bristol-Myers Squibb, Eli Lilly & Company, Roche Holding AG, Illumina Inc., Thermo Fisher Scientific Inc., Novartis AG, AstraZeneca, QIAGEN, Quest Diagnostics, Pfizer Inc.
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The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global precision medicine market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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