Europe precision medicine Market 2018 to 2023 Status and Trend by Leading Companies, Regional Outlook

Precision medicine is reshaping the healthcare sector in Europe. Europe is the second largest revenue-generating region for the precision medicine market. The growth of the precision medicine market in European countries is mainly due to the adoption of gene therapy and an ageing population, among others. European countries like The U.K and Germany are experiencing growth in the region due to investments in research and development, along with rising incidence of chronic ailments. According to Netscribes, the European precision medicine market is projected to expand at a compound annual growth rate (CAGR) of 13.40%, leading to a revenue of USD 29.93 Bn by 2023.

Technological progress in big data analytics will help create opportunities for the precision medicine market. Diagnostic tool companies will also generate demand for the precision medicine market in the region. Due to the number of precision medicine solutions and medications offered in Germany, it is expected to have an important share in the region.The European precision medicine market is classified into three primary segments: based on ecosystem players: pharmaceuticals and biotech companies, clinical laboratories, diagnostic companies and healthcare IT specialists/big data companies; based on therapeutics: cancer, cardiovascular, central nervous system, psychiatric disorder and infectious diseases; and based on technology: big data analytics, bioinformatics, gene sequencing, pharmacogenomics and companion diagnostics.

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The cancer therapeutics segment is expected to exhibit the highest growth rate in this region. This is because rising incidence of cancer will create demand for its treatment. In the long run, genetic differentiation will increase demand for tailored cancer therapeutics. In the technology segment, big data analytics is expected to register a high growth rate through the forecast period of 2018-2023.

Key growth factors

Rising incidences of Alzheimer’s disease and other neurological disorders, along with increased awareness to prevent them, will create demand for the precision medicine market. An increase in the use of targeted therapies and medicines will help the growth of pharmaceutical and biotech companies in Europe. Companion diagnostics providers will improve the data collection, which will in turn, boost the precision medicine market

Threats and key players

Rising healthcare costs in the European region is one of the challenges for the precision medicine market, which will restrict its adoption in the region. Concerns regarding privacy and the security of personal data, are expected to adversely affect the growth of precision medicine market in Europe.
The major players operating in the Europe precision medicine market are Almac Group, GE healthcare, Novartis, etc.

What’s covered in the report?

1. Overview of the Europe precision medicine market.
2. Market drivers and challenges in the Europe precision medicine market.
3. Market trends in the Europe precision medicine market.
4. Historical, current and forecasted market size data for the North America precision medicine market segmentation by ecosystem players (pharmaceuticals and biotech companies, clinical laboratories, diagnostic companies and healthcare IT specialists/big data companies) – by revenue (USD Bn).
5. Historical, current and forecasted market size data for the North America precision medicine market segmentation by therapeutics (cancer, cardiovascular, central nervous system, psychiatric disorder and infectious diseases) – by revenue (USD Bn).
6. Historical, current and forecasted market size data for the North America precision medicine market segmentation by technology (big data analytics, bioinformatics, gene sequencing, pharmacogenomics and companion diagnostics) – by revenue (USD Bn).
7. Historical, current and forecasted country-wise (U.S. and Canada) market size data (USD Bn) for the North America precision medicine market and its segmentations by ecosystem players (pharmaceuticals and biotech companies, clinical laboratories, diagnostic companies and healthcare IT specialists/big data companies), by therapeutics (cancer, cardiovascular, central nervous system, psychiatric disorder and infectious diseases), and by technology (big data analytics, bioinformatics, gene sequencing, pharmacogenomics and companion diagnostics).
8. Analysis of the competitive landscape and profiles of major companies operating in the market.

Why buy?

1. Understand the demand for precision medicine market to determine the viability of the market.
2. Determine the developed and emerging markets where precision medicine market is provided.
3. Identify the challenge areas and address them.
4. Develop strategies based on the drivers, trends and highlights for each of the segments.
5. Evaluate the value chain to determine the workflow and to get an idea of the current position where you are placed.
6. Recognize the key competitors of this market and respond accordingly.
7. Knowledge of the initiatives and growth strategies taken up by the major companies and decide on the direction for further growth.
8. Define the competitive positioning by comparing the products and services with the key players in the market.

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