Precision Medicine Market Size to be Worth USD 132.66 Billion by 2027 | Industry Trend – High incidence of cancer

The global Precision Medicine Market is expected to reach USD 132.66 Billion by 2027, according to a new report by Emergen Research. The proliferation of sequencing methodologies, especially Next Generation Sequencing (NGS), is expected to drive the market due to the increasing sequencing costs and the advancement of the Human Genome Project in the field of genomics.

The rising incidence of chronic and unusual diseases triggers the need to build technically innovative methods for accelerated medical data aggregation and review. The bioinformatics program helps in data processing by rendering successful therapeutic approaches. As a consequence, the growing volume of data in the healthcare sector would fuel demand for bioinformatics, raising competition in the industry for precision medicines.

The creation of bioinformatics tools and applications would promote the production of immunotherapy and thus boost the study of microbiomes, thus advancing the area of precision medicine. Besides, the development of high-throughput technologies such as next-generation sequencing and microarray will pave the way for market growth in bioinformatics, which will further drive market demand in the coming years.

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Key Highlights from the Report:

  • Based on technology, drug discovery is estimated to expand at a CAGR of 9.8% in the projected period due to the increasing focus of biopharmaceutical companies in developing precision medicine to treat rare and chronic diseases, including cancer.
  • Diagnostic companies are anticipated to proliferate at the highest growth rate, registering a CAGR of 10.4% during the timespan. This growth can be attributed to the broad spectrum of applications of the precision medicine industry and the active engagement of market players in the market's advancement.
  • The Oncology application holds significant weight in the Precision Medicine Market owing to the rising incidences of cancer worldwide, intensifying the demand for precision medicine. Precision medicine plays a pivotal part in the cancer treatment as it can develop tailored therapies for cancer patients depending on their genetic makeup.
  • North America accounted for the largest industry share in 2019 and is expected to continue its dominance. This can be accredited to the consistent focus on developing cost-efficient and innovative procedures and the presence of major market players in the region.
  • Qiagen, NanoString Technologies, Biocrates Life Sciences, Novartis, Teva Pharmaceutical, Tepnel Pharma Services, Menarini Silicon Biosystems, Quest Diagnostics, Eagle Genomics, and Pfizer, among others are some of the prominent players in the market.

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For the purpose of this report, Emergen Research has segmented the global Precision Medicine Market on the basis of technology, end-use, application, and region:

Technology Outlook (Revenue, USD Billion; 2017-2027)

  • Bioinformatics
  • Big Data Analytics
  • Gene Sequencing
  • Companion Diagnostics
  • Drug Discovery
  • Others

End-Use Outlook (Revenue, USD Billion; 2017-2027)

  • Pharmaceutical Companies
  • Healthcare IT companies
  • Diagnostic Companies
  • Others

Application Outlook (Revenue, USD Billion; 2017-2027)

  • CNS
  • Oncology
  • Respiratory
  • Immunology
  • Others

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Regional Outlook (Revenue, USD Billion; 2017-2027)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • U.A.E.
    • Rest of MEA

Reasons to buy the report:

  1. This study segments the Precision Medicin market and derives the precise valuation of the overall, as well as segment-based, market across different industry verticals, geographies, and products.
  2. The report will help participants understand the trajectory of the progress of the market and provide information on key drivers, restraints, challenges, threats, and opportunities for the growth of the Precision Medicin sectors.
  3. This Precision Medicin report would allow readers to be well-versed with the existing competition and gain more insights to improve their standing in the worldwide business. The competitive landscape considers the dominant competitors, along with product launches and technological advancements, strategic expansions, mergers and acquisitions, and procurement strategies implemented by key players in the Precision Medicin market.

Key features of the report:

  • To study the key aspects impacting the Precision Medicin market size.
  • To identify growth prospects in the Precision Medicin market.
  • To analyze the Precision Medicin market segments and deduce the dominant trends observed in the industry.
  • To examine the Precision Medicin market by investigating the available products, market share, and value proposition of the products.
  • To analyze the industry by assessing the scope and application of the Precision Medicin market and highlight the growth of each application.

Table of Content

Chapter 1. Methodology & Sources

    1.1. Market Definition

    1.2. Research Scope 

    1.3. Methodology

    1.4. Research Sources

          1.4.1. Primary

          1.4.2. Secondary

          1.4.3. Paid Sources

    1.5. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2020-2030

Chapter 3. Key Insights

Chapter 4. Precision Medicine Market Segmentation & Impact Analysis

    4.1. Precision Medicine Market Material Segmentation Analysis

    4.2. Industrial Outlook

          4.2.1. Market indicators analysis

          4.2.2. Market drivers’ analysis

          4.2.3. Market restraints analysis

    4.3. Technological Insights

    4.4. Regulatory Framework

    4.5. Porter’s Five Forces Analysis

    4.6. Competitive Metric Space Analysis

    4.7. Price trend Analysis

    4.8. Covid-19 Impact Analysis

Continued…

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About Emergen Research

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