Global Precision Medicine Market is anticipated to shoot off by the end of 2022 :Top keyplayers are Pfizer, Roche, Covance, Novartis, Qiagen, Biocrates Life Sciences, Teva Pharmaceutical, Nanostring Technologies, Laboratory Corporation of America Holdings

Description

By 2022, the Global Precision Medicine Market is estimated to reach US$ XX Mn, up from US$ XX Mn in 2016, growing at a CAGR of XX% during the forecast period. Precision Medicine is an emerging medical model that proposes the customisation of healthcare, with medical decisions, practices, and products being tailored to theindividual variability in genes, environment, and lifestyle for each patient. This new approach enables doctors to better assess the patient's disease risk, thus predicting an optimal therapy. While precision medicines currently individualize treatment on the basis of genomic tests, several promising technology modalities are being developed, from techniques combining spectrometry and computational power to real-time imaging of drug effects in the body.Precision medicine is one of the greatest opportunities for a medical breakthrough, enabling a new era of medicine in which researchers, providers, and patients work together to develop individualized care.
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Market Dynamics

Increased global incidence of cancer and rise in cancer susceptible aging population, cost-effective profiling of DNA, increase in data-driven healthcare, and government funding for R&D are the key factors propelling the growth of the market.The precision medicine market is also surging due to the advancement in technology such as Biomarker-based tests/kits, next gene sequencing, and precise imaging. Moreover, high-throughput omics technologies that have been applied in basic biomedical and biological research are anticipated tofurther fuel the market size.
The potential obstacles to the expansion of the market on a global scale include dearth in a systematic approach towards funding and soaring prices of personalized drugs as well as declining trends in FDA pharmacotherapy approval rate. Furthermore, the market is still combating acute data storage and data privacy issues. This poses a barrier to the market growth as insurance companies could use the genetic data of patients and increase the premium for individuals susceptible to genetic diseases.

Market Segmentation

The global Precision Medicine marketis fragmented on the basis oftechnology and application.
Technology
Big Data Analytics
Bioinformatics
Gene Sequencing
Drug Discovery
Companion Diagnostics
The drug discovery market segment holds the largest share of USD XX million, followed closely by gene sequencing and companion diagnostics.
Application
Oncology
CNS
Immunology
Respiratory Medicine
Infections
Geographical Analysis

The North American region dominates the global precision medicine market with the USA contributing the major share, followed by Europe. Europe will also prove to be a consistent market, crawling up the revenue chart within the forecast period. However, the Asia-Pacific market will be the one to watch in terms of growth. The market is expected to witness a sharp hike, with Japan leading the market, and China and India following closely behind.On the other hand, the Middle East and African region is forecasted to experience a slower market growth if current circumstances persist.
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Key Players

Many companies in this field are adopting product enhancements and launches, strategic acquisitions, and agreements as their key business strategies in order to top the global market. The prominent industry players contributing to the global market share include Pfizer, Roche, Covance, Novartis, Qiagen, Biocrates Life Sciences, Teva Pharmaceutical, Nanostring Technologies, Laboratory Corporation of America Holdings, Tepnel Pharma Services, Intomics, Ferrer InCode, Silicon Biosystems, Eagle Genomics, Medtronic, and Quest Diagnostics.

Report ContentsRegional AnalysisReport Highlights

Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market - Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players

North America
US and Canada

Latin America
Mexico, Brazil, Argentina and Rest of Latin America

Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe

Eastern Europe
Russia
Poland
Rest of Eastern Europe

Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific

Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa

This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.

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Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage

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