Precision Medicine Market By Product and Service, By Application, By End User and Region: Global Industry Analysis, Share, Opportunity, Competition and Forecast 2022 to 2027

The Precision Medicine Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The Global Precision Medicine Market Size is Projected to Reach at a CAGR of 12% during 2022-2027.

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Market Overview

COVID-19 has affected many different areas of the precision medicine market. Amid the current pandemic, precision medicine is advancing at a breakneck speed. The healthcare industry is focused on conducting precision medicine and genomics research to better understand COVID-19 susceptibility, measure its impact, and discover potential therapies. Precision medicine has spurred collaborative efforts between governments, medical institutions, and researchers to swiftly develop effective treatments.  Also, in 2020, Cleveland Clinic initiated the genomic medicine project to identify genetic factors that propel susceptibility to the virus and use these to develop therapeutic and prevention strategies against the virus. With advancements in precision therapies and diagnostics, coupled with breakthrough innovations, such as Next Generation Sequencing (NGS) and big genomic data, the industry is expected to witness rapid growth during the forecast horizon.

Top Leading 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

Recent Developments

In October 2020, Diaceutics PLC launched DXRX – The Diagnostic Network, which has been designed to accelerate the end-to-end development and commercialization of precision medicine diagnostics by reducing time to peak biomarker test adoption for cancer testing from years to months.
In June 2020, Infosys launched an all-new, Personalized Medicine solution for the pharmaceutical industry. The solution leverages SAP S/4HANA, the SAP C/4HANA suite, the SAP Analytics Cloud solution, and the SCI platform to derive intelligent insights, enabling pharmaceutical companies to address critical business and regulatory requirements, while delivering personalized experiences to patients.

Johnson & Johnson has acquired 41 companies, including 11 in the last 5 years. A total of 9 acquisitions came from private equity firms. It has also divested 17 assets. Johnson & Johnson’s largest acquisition to date was in 2017 when it acquired Actelion for $30.0B. Its largest disclosed sale occurred in 2014 when it sold Ortho Clinical Diagnostics Holdings to The Carlyle Group for $4.2B. Johnson & Johnson has acquired in 12 different US states, and 6 countries. The Company’s most targeted sectors include life science (39%) and medical products (36%).

Roche Holding AG has acquired 42 companies, including 13 in the last 5 years. A total of 10 acquisitions came from private equity firms. It has also divested 2 assets. Roche Holding AG’s largest acquisition to date was in 2009 when it acquired Genentech for $46.8B. Roche Holding AG has acquired in 9 different US states, and 9 countries. The Company’s most targeted sectors include life science (67%) and medical products (13%).

Precision Medicine Market Segmentation by Type:

Diagnostics
Therapies

Precision Medicine Market Segmentation by Application:

Oncology
Neurosciences
Immunology
Respiratory
Others

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North America Dominates the Market

The outbreak of COVID-19 had an impact on the United State precision medicine market because healthcare services were significantly reduced due to social distancing measures taken by several governments across the world. Moreover, the COVID-19 pandemic not only affected the regional economy but also had a huge impact on the functioning of general hospital care for non-COVID-19 patients across the region.

The presence of better healthcare infrastructure and huge expenditure on R&D are expected to boost the growth of the precision medicine market in the United States. For certain types of cancer treatments, like colorectal cancer and breast cancer, there have been significant advances in precision medicine. According to the American Cancer Society journal, in 2020, there were an estimated 1.8 million new cancer cases diagnosed and 606,520 cancer deaths in the United States. This is expected to help in the development of precision oncology treatments.

The precision medicine initiative in the United States includes the ongoing efforts through the Department of Veteran’s Affairs (VA), which enrolled over 450,000 veterans in the Million Veteran Program (MVP), a participant-driven research cohort to develop one of the world's largest databases for precision medicine. The VA is seeking blood samples from 1 million veterans throughout the country.

Regional Precision Medicine Market (Regional Output, Demand & Forecast by Countries)

North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) And additional.

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Highlights of the Precision Medicine Market Report:

Detailed overview of Precision Medicine Market
Changing the Precision Medicine market dynamics of the industry
In-depth market segmentation by Type, Application, etc.
Historical, current and projected Precision Medicine market size in terms of volume and value
Recent industry trends and developments
Competitive landscape of Precision Medicine Market
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth.

The research includes historic data from 2016 to 2022 and forecasts until 2027 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Finally, the Precision Medicine Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Precision Medicine industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.

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