Precision Medicine Market Outlook| Key Players are Pfizer, Novartis, QIAGEN, Quest Diagnostics, Teva Pharmaceuticals, Biocrates Life Sciences AG, Eagle Genomics Ltd.

Drug discovery dominated the precision medicine market in 2016 followed by gene sequencing which is expected to show a considerable growth over the coming years. Availability of next generation sequencing based genetic tests for rapid sequencing and identification of large human genome along with favourable regulatory guidelines by U.S. FDA for validation of such genetic tests is a major advancement in precision medicine accelerating gene sequencing revenue growth.

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Companion diagnostics is poised to be the fastest growing segment with over 11.5% CAGR owing to its ability to provide essential information for the safety and effectiveness of a specific drug or therapeutic product for targeted patient groups.

Prominent Players are:
• Pfizer
• Novartis
• QIAGEN
• Quest Diagnostics
• Teva Pharmaceuticals
• Biocrates Life Sciences AG
• Eagle Genomics Ltd.
• NanoString Technologies, Inc.

CNS will show considerable growth over the coming years owing to the rising economic burden of central nervous system disorders which fosters the need to develop genomic platforms in combination with electronic health record data based on clinical phenotypes for effective targeted treatment of such diseases.

UK precision medicine market should witness robust growth over the forecast period. Favorable government initiatives and increasing funding on research activities such as the launch of stratified medicine initiative in 2011 with €60 million budget focused on biomarker, patient cohorts, genomic and phenotypic analysis will fuel regional growth. Further, the launch of 100,000 Genomes Project in 2012 by Genomics England with €250-300 million funding for genomics has paved the way for individualized treatment for cancer patients and escalate regional market size.

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Precision Medicine Market by Technology
o Big data analytics
o Bioinformatics
o Gene sequencing
o Drug discovery
o Companion diagnostics

Precision Medicine Market by Application
o Oncology
o Respiratory
o CNS
o Immunology

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