Press release
Precision Medicine Market: Size & Trends Shows a Rapid Growth by 2025
The biomarkers test is being utilized to find the risk factor of the reoccurrence of breast cancer. In 2015, there was an investment made by the Precision Medical Initiative of around $70 million to the National Cancer Institute. The investment was made to recognize the different genomic drivers in cancer and to develop new approaches for the diagnosis of cancer.
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In October 2017, the US-based company called Gentris, working in the field of genomic biomarkers in clinical studies, signed a Memorandum of Understanding to form a biomarker collaboration with the Shanghai Institutes of Preventative Medicine. This partnership was aimed to discover new biomarkers. It may result in the development of the effective precision medicine. Thus, likely to expand the market size for global precision medicine market.
Moreover, in April 2017, Oxford Cancer Biomarkers with the collaboration of My-BioMed Biotechnology (MBM) expanded the use of three of its in-vitro diagnostic tests for colorectal cancer into China. Increasing personalized treatment has focused on pharmaceutical companies for investments in biomarkers. These three tests have been developed for colorectal cancer by OCB (Oxford Cancer Biomarker) and are intended for distributing personalized medicine and are part of a portfolio.
This strategic collaboration will permit patients across China to access OCB’s suite of precision oncology diagnostic technologies and specific needs of the Chinese market. This enables in building a robust product pipeline of diagnostics exactly aimed at the population of China.
Current Market Trends Covered in the Global Precision Medicine Market Report
• On the basis of the application segment, the oncology application segment is estimated to hold the maximum market share over the forecast period.
• Asia-Pacific is estimated to gain maximum traction in the global precision medicine industry during the forecast period.
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Global Precision Medicine Market Segmentation
By Technology
• Genomics
• Transcriptomics
• Epigenomics
By Application
• Oncology
• Neurology
• Immunology
• Others (Respiratory)
By End-Use
• Pharmaceutical Companies
• Diagnostic Companies
• Healthcare IT Companies
Regional Analysis
North America
• United States
• Canada
Europe
• UK
• Germany
• Spain
• France
• Italy
• Rest of Europe
Asia-Pacific
• India
• China
• Japan
• Rest oF APAC
Rest of The World
• Latin America
• Middle East and Africa
Company Profiles
• Abbott Laboratories Inc.
• Almac Group
• AstraZeneca PLC
• Asuragen Inc.
• Biocrates Life Sciences AG
• Bristol-Myers Squibb Co.
• Eagle Genomics Ltd.
• Hoffmann La Roche Ltd.
• General Electric Co.
• GlaxoSmithKline PLC
• Illumina Inc.
• Intomics AS
• Laboratory Corp. of America Holdings
• Leucine Rich Bio Pvt. Ltd.
• Medtronic PLC
• Menarini Silicon Biosystems S.p.a.
• Nanostring Technologies
• Novartis AG
• PerkinElmer Inc.
• Pfizer Inc.
• Qiagen NV
• Quest Diagnostics Inc.
• Teva Pharmaceutical Industries Ltd.
• Thermo Fischer Scientific Inc.
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