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Precision Medicine Market Size, Share, Insights, Industry Growth | Valuates Reports
The global Precision Medicine market size is projected to reach USD 206320 Million by 2027, from USD 104940 Million in 2020, at a CAGR of 9.6% during 2021-2027.
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Precision Medicine Market Trends:
Advancements in cancer biologics will drive the growth of the precision medicine market. The development of newer therapeutic approaches including gene therapy for cancer treatment and an increasing number of patients undergoing predictive diagnosis will push the market growth.
An increasing portfolio of precision medicine drugs will create growth opportunities for Precision medicine market players. There has been significant development in the market in the last decade. The number of companies, government, and private research institutes involved in the industry has been steadily growing.
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Precision Medicine Market Share:
Based on application, oncology is expected to be the most lucrative segment during the forecast period. However, increased R&D activities for other diseases are projected to increase the number of drugs for cardiovascular, infectious, and neurological diseases among others.
Based on type, the therapeutic segment in the precision medicine market is expected to be the most lucrative. There has been continuous growth in precision therapeutics for the targeted treatment of conditions like cancer, and genetic diseases. The development of novel drugs and increasing usage of drugs in precision medicine treatment plans will fuel the growth of the therapeutics segment.
Germany is the largest consumption place in Europe, with a consumption market share of nearly 20%. France is the second largest consumption place with a consumption market share of 18%.
Top Companies in the Precision Medicine Market
Johnson & Johnson, IBM, GE Healthcare, Illumina, Roche, and Laboratory Corporation of America Holdings are the leading players in precision medicine in Europe, with the top five accounting for approximately 30% of the European market.
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Precision Medicine Market Segmentation
By Region
● North America
● US.
● Canada
● Europe
● Germany
● France
● UK.
● Italy
● Russia
● Nordic
● Rest of Europe
● Asia-Pacific
● China
● Japan
● South Korea
● Southeast Asia
● India
● Australia
● Rest of Asia
● Latin America
● Mexico
● Brazil
● Rest of Latin America
● Middle East & Africa
● Turkey
● Saudi Arabia
● UAE
● Rest of MEA
Key Companies
● Johnson & Johnson
● IBM
● GE Healthcare
● Illumina
● Roche
● Laboratory Corporation of America Holdings
● Thermo Fisher Scientific
● Novartis
● Abbott Laboratories
● Almac Group
● Intel Corporation
● Biomrieux Sa
● Cepheid
● Qiagen
● Randox Laboratories
● Healthcore.
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