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(2023-2032) Precision Medicine Global Market Trends And Forecast Report | By Types, Applications, Regions And Players Include Qiagen, Novartis AG, Medtronic, AstraZeneca plc., Quest Diagnostics
Precision Medicine Market
Precision Medicine Market Size, Growth Rate, And Forecast
The global precision medicine market size grew from $83.43 billion in 2022 to $95 billion in 2023 at a compound annual growth rate (CAGR) of 13.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The precision medicine market size is expected to grow to $157.26 billion in 2027 at a CAGR of 13.4%.
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Precision Medicine Market Drivers
The rising prevalence of cancer is projected to fuel the growth of the precision medicine market in the coming years. Cancer is one of the main causes of death worldwide, with one out of every five individuals developing cancer at some point in their lives. Precision medicine in cancer entails analyzing DNA from tumors to find mutations or other genetic abnormalities that cause cancer. Physicians may therefore be able to choose a treatment for a specific patient's cancer that best fits, or targets, the tumor DNA alterations.
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Precision Medicine Market Segments
• By Technology: Big Data Analytics, Bioinformatics, Gene Sequencing, Drug Discovery, Companion Diagnostics, Other Technologies
• By Application: Oncology, Respiratory Diseases, Central Nervous System Disorders, Immunology, Genetic Diseases, Other Applications
• By End-User: Hospitals And Clinics, Pharmaceuticals, Diagnostic Companies, Healthcare And IT Firms, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Precision Medicine market.
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Precision Medicine Market Key Players
Major competitors in the Precision Medicine market include Qiagen, Novartis AG, Medtronic, AstraZeneca plc., Quest Diagnostics, Thermo Fisher Scientific Inc., Pfizer, Bristol-Myers Squibb, Merck & Co. Inc., Tepnel Pharma Services, Abbott Laboratories, Takeda Pharmaceutical Company Ltd.
The Business Research Company's "Global Precision Medicine Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Precision Medicine Market Include:
1. Executive Summary
2. Precision Medicine Market Characteristics
3. Precision Medicine Market Trends And Strategies
4. Precision Medicine Market - Macro Economic Scenario
5. Precision Medicine Market Size And Growth
………
28. Key Mergers And Acquisitions In The Precision Medicine Market
29. Precision Medicine Market Future Outlook and Potential Analysis
30. Appendix
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