Precision Medicine Market worth $143.43 billion by 2030, growing at a CAGR of 11.22% - Exclusive Report by 360iResearch

The "Precision Medicine Market by Technology (Big Data Analytics, Bioinformatics, Companion Diagnostics), Application (CNS, Immunology, Oncology), End-User, Deployment - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Precision Medicine Market to grow from USD 68.12 billion in 2023 to USD 143.43 billion by 2030, at a CAGR of 11.22%.

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Precision medicine refers to the strategy of tailoring disease prevention and treatment solutions by considering the differences in patient's genetics, environments, and lifestyles. This concept can be utilized as an effective prevention technique for cancers, heart diseases, cystic fibrosis, and diabetes. Precision medicine is used to predict disease susceptibility, improve disease detection, and offer customized disease-prevention strategies. Government efforts to improve research and development activities in the precision medicine sector and simultaneously improve the accessibility of healthcare treatment options for lower-income individuals are increasing rapidly. Joint efforts between pharmaceutical, software, and bioinformatics companies to characterize the genes have expanded drug discovery. However, the lack of reimbursement for precision medicine-based treatment and standardized reimbursement codes and definitions hampers patient adoption and R&D activities. Additionally, the complicated FDA pharmacotherapy approval process and subsequent commercialization challenges of the product pose significant hurdles. However, efforts by government and regulatory agencies to ensure the accuracy of gene sequencing and next-generation sequencing have improved compliance with regulations. Additionally, the adoption of AI, ML, and cloud-based solutions allows researchers to use complex data from electronic health records to detect early-onset diseases, including Alzheimer's and dementia.

Countries in the Americas are increasing the focus on the integration of AI and ML in precision medicine for the treatment and management of cancers and tumors. Government efforts in the Americas has propelled the deployment of precision medicine by clinicians and physicians for treatment purposes. Mexico and Colombia are exerting efforts to analyze the entire genetic constitution of the citizens to better equip medical and research personnel with medical decision-making. In the APAC region, emerging economies, including India and China, are increasing investment in gene therapy research and developing products such as microbots that aim to support precision medicine delivery. These countries are also experiencing a rising number of cancer care clinics and hospitals that utilize precision medicine to guide patient diagnosis and treatment. The Japanese government aims to promote the linkage of medical records, including medical genomic testing data and personal health records (PHRs), which can improve the development of precision medicines and drugs. In the European nations of UK, Germany, and Switzerland, the presence of robust research institutions and focus of academic institutions on novel research is responsible for driving the development of personalized treatment regimes and medicines. The provision of precision medicine solutions by major pharmaceutical and biotechnological companies located in European nations has allowed the region to solidify its position in the life sciences sector.

Market Segmentation & Coverage:

This research report categorizes the Precision Medicine Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Technology, market is studied across Big Data Analytics, Bioinformatics, Companion Diagnostics, Drug Discovery, and Gene Sequencing. The Gene Sequencing is projected to witness significant market share during forecast period.

Based on Application, market is studied across CNS, Immunology, Oncology, and Respiratory. The Immunology is projected to witness significant market share during forecast period.

Based on End-User, market is studied across Biotechnology & Diagnostic Companies, Laboratories & Pharmaceuticals, and Research Centers & Government Institutions. The Biotechnology & Diagnostic Companies is projected to witness significant market share during forecast period.

Based on Deployment, market is studied across On-Cloud and On-Premise. The On-Cloud is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 38.41% in 2023, followed by Europe, Middle East & Africa.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Precision Medicine Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Precision Medicine Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Precision Medicine Market, highlighting leading vendors and their innovative profiles. These include AccessDX Holdings, Adaptive Biotechnologies Corporation, Biocrates Life Sciences AG, bioMérieux SA, Caris Life Sciences, Exact Sciences Corporation, F. Hoffmann-La Roche AG, Foundation Medicine, Inc., Guardant Health, Inc., healthŌme, Illumina, Inc., Intomics by ZS Associates, Inc., Invitae Corporation., Laboratory Corporation of America Holdings, Medtronic PLC, Natera Inc., Novartis AG, Pfizer Inc., Precision Medicine Group, LLC, QIAGEN GmbH, Quest Diagnostics Incorporated, Strata Oncology, Inc., Syapse, Inc., Tempus Labs, Inc., Teva Pharmaceutical Industries Ltd., and Thermo Fisher Scientific Inc..

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Precision Medicine Market, by Technology
7. Precision Medicine Market, by Application
8. Precision Medicine Market, by End-User
9. Precision Medicine Market, by Deployment
10. Americas Precision Medicine Market
11. Asia-Pacific Precision Medicine Market
12. Europe, Middle East & Africa Precision Medicine Market
13. Competitive Landscape
14. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Precision Medicine Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Precision Medicine Market?
3. What is the competitive strategic window for opportunities in the Precision Medicine Market?
4. What are the technology trends and regulatory frameworks in the Precision Medicine Market?
5. What is the market share of the leading vendors in the Precision Medicine Market?
6. What modes and strategic moves are considered suitable for entering the Precision Medicine Market?

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