Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Precision Medicine market.
Trusted Business Insights presents an updated and Latest Study on Precision Medicine Market 2019-2026. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market.The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Precision Medicine market during the forecast period (2019-2029).It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Abstract, Snapshot, Market Analysis & Market Definition: Precision Medicine MarketIndustry / Sector Trends
Precision Medicine Market size was valued at USD 52.6 billion in 2018 and is expected to witness 10.5% CAGR from 2019 to 2025.
U.S.Market Segmentation, Outlook & Regional Insights: Precision Medicine Market
Precision Medicine Market, By Technology, 2018 & 2025 (USD Million)
Growing demand and advancements in cancer biology will drive personalized medicine market during the forecast period. Accessibility to large-scale human genome database including next-generation sequencing (NGS) and computational tools foster industry growth. Development of innovative genetic technologies examines the functional effect of genetic makeup that leads in developing cancer, thus, should propel huge demand for cancer biology. Several such tools are widely used to study the mechanism of DNA repair, epigenetic changes related to cancer and gene regulation in cancerous cells that offer opportunities for cancer biology in personalized medicine.
Moreover, improving efficiencies within the health care system will serve to be positive impact rendering factor personalized treatment business growth. Benefits offered by personalized medicines and treatment includes target treatment for patient, optimal dosing, focus on prevention and earlier intervention as well as preventing adverse events. Thus, above mentioned features will foster the demand for personalized medication market growth. However, high cost associated with precision medicine may impede industry growth over the forecast period.
Precision Medicine Market, By Technology
Drug discovery segment held over 21% revenue share in 2018 and is projected to grow significantly by 2025. Focus of business players on developing technologically advanced drugs enabling superior treatment for several life-threatening diseases will create segmental growth opportunities. Bio-pharmaceutical companies utilize bioinformatics software to introduce customized novel drugs that should augment the segmental growth.
Gene sequencing segment is anticipated to show exponential CAGR of around 11% over the coming years. Benefits offered by gene sequencing technique such as relevant information about patients genome and biological research ensures quick drug discovery process that should boost segmental growth.
Precision Medicine Market, By Application
Immunology segment accounted for over USD 9.5 billion in 2018 and is estimated to witness considerable growth trend during the analysis period. Growing demand for bioinformatics and big data analytics to segregate human genome data obtained from immunological processes favors segmental growth.
Oncology segment held significant revenue share in 2018 and is assessed to show more than 10.5% CAGR during the forecast period. Segment growth is attributable to increasing prevalence of cancer cases resulting in development of innovative drugs with specific drug formulations in precision medicine.
Germany Precision Medicine Market Size, By Application, 2018 (USD Million)
Precision Medicine Market, By End-use
Healthcare IT companies segment held more than 27% revenue share in 2018 and will show lucrative growth over coming years. Increasing demand for developing technologically advanced tools for rapid integration, storage, and analysis of patient data should augment the business growth.
Diagnostic companies segment was valued around USD 9.5 billion in 2018. Such companies provide solutions that bridges the gap between clinical needs of patients and technology. Various benefits such as high quality of the medical diagnostic devices enabling precise patient management will foster industry growth.
Precision Medicine Market, By Region
North America precision medicine market is predictable to show around 9% CAGR over the analysis period. Rising prevalence of respiratory and oncology diseases as a result of lifestyle changes is the key factor driving demand for market. Rising healthcare expenditure coupled with presence of major industry players in North America will spur the business growth.
Asia Pacific precision medicine industry was valued more than USD 11 billion revenue in 2018. Regional growth can be attributed to technological advances in sequencing technology. Moreover, presence of large patient pool in Asia Pacific along with growing investments in R&D activities will accelerate personalized medication business growth.
MEA Precision Medicine Market Size, By Country, 2025 (USD Million)
Key Players, Recent Developments & Sector Viewpoints: Precision Medicine Market
Few of the prominent industry players operating in precision medicine industry include Biocrates Life Sciences, Tepnel Pharma Services, Qiagen, Menarini Silicon Biosystems, Novartis, NanoString Technologies, Pfizer, Eagle Genomics, Quest Diagnostics, Roche, Intomics, and Teva Pharmaceutical. The business players implement several strategies including acquisitions, partnerships and innovative product enhancement to capitalize on market growth opportunities.
Recent industry developments:
In October 2018, Eagle Genomics partnered with Microsoft Genomics to tackle computational challenges of genomics era. This partnership aimed to inculcate scale and power of cloud to precision medicine, across the production of fundamental research and core services.
In January 2018, Syapse collaborated with Roche in order to advance precision medicine in oncology. Also, this partnership focuses on clinical delivery and product development for introducing precision medicine to more patients.
Precision Medicine Industry Viewpoint
History of precision medicine can be tracked back in 1950s when Watson and Crick discovered the structure of the DNA as double-helix. Efforts to supplement the DNA structure, researchers cracked the genetic code in early 1960s. Additionally, introduction of the first DNA sequencing technology was developed in 1970s where researchers discovered first enzyme linked to individual variation in response to dosing. In early 1980s Polymerase Chain Reaction (PCR) was first discovered allowing for fast amplification of DNA sequences. These advances continued in 1990s where human genome project was launched along with FDA approval for first personalized medicine with a companion diagnostic, for the treatment of HER2 positive breast cancer. Such form of advancements continued in 2000s where first targeted therapies for lung cancer, leukemia, melanoma, cystic fibrosis, HIV, and other diseases accelerated tremendous growth opportunities for precision medicine. Moreover, increasing demand for personalized medication for secured patient management will drive industry growth during the forthcoming years
Key Insights Covered: Exhaustive Precision Medicine Market1. Market size (sales, revenue and growth rate) of Precision Medicine industry.2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Precision Medicine industry.3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Precision Medicine industry.4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Precision Medicine industry.
Research Methodology: Precision Medicine Market
Quick Read Table of Contents of this Report @ Precision Medicine Market Research Report Forecast to 2029 (Includes Business Impact of COVID-19)
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