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Precision Medicine Market Revenue to Witness Steady Growth Through 2016 – 2024 | Global Top Companies: F. Hoffmann-La Roche AG, Illumina, Inc., Thermo Fisher Scientific Inc. , QIAGEN, Quest Diagnostics, Laboratory Corporation of America Holdings , Novar
Precision Medicine Market
The market insight discusses about some of the major inclusion of smart IT enabled technologies and prominent mergers that will expand the periphery of the market and will enhance the customer outreach of the product. The report gives a forecast of the global precision medicine market. The global precision medicine market is segmented as follows: Precision Medicine market by technology, Precision Medicine market by application and Precision Medicine market by region.
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This report covers the global precision medicine market performance in terms of revenue contribution from various segments. This section also includes PMR analysis of key trends, drivers, restraints and opportunities, which are influencing the growth of the global precision medicine market. Impact analysis of key growth drivers and restraints are included in this report to better equip clients with crystal clear decision-making insights. The next few sections of the report analyse the global precision medicine market based on technology, application, and region and present a comprehensive forecast in terms of value for the next eight years.
Market Segmentation
By Technology
• Next Generation Sequencing
• Bioinformatics
• Drug Discovery Technologies
By Application
• Oncology
• Immunology
• Neurology
• Cardiology
• Infectious disease
• Others
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Some of the players in the global precision medicine market are, F Hoffmann-La Roche AG, Illumina, Inc., Thermo Fisher Scientific Inc., QIAGEN, Quest Diagnostics, Laboratory Corporation of America Holdings, Novartis AG, AstraZeneca, Bristol-Myers Squibb and Eli Lilly And Company. The companies are trying to increase their product pipeline by filing new molecule application or by extending the application of the existing molecule.
Other strategies such as merger and acquisitions, industry academia collaboration to bring in more commercialized molecule or sequencing techniques will also impact the present market trends. The report also identifies company-specific strategies related to product development, market consolidation initiatives and analysis of their specific strengths, weaknesses, opportunities and threats.
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Precision medicine is an emerging approach to preventive health and for the treatment of disease. The approach allows doctors and physicians to study the individual response to a therapy. The approach studies the individual profile at a genetic level along with their lifestyle and environment. In January 2015, Precision Medicine Initiative (PMI) was announced to extend precision medicine to all diseases with more than one million volunteers.
All of The Unified Shared Services Management, a data-driven enterprise supported research at the intersection of environment, lifestyle and genetics to treat disease and prolong health. Targeted cancer therapy, use of combination therapies and knowledge of drug resistance were some of the short term goals. While the long-term goal was to create a cohort of 1 million American volunteers to share genetic data, lifestyle information, biological samples which would be linked to the electronic health record. This would advance pharmacogenomics and lay a scientific foundation for precision medicine for many diseases.
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