Global Precision Medicine Market Projected to Reach US$ 150.55 Billion by 2029 with a 9.25% CAGR

18.09.2023: Precision Medicine Market Report Scope and Research Methodology

Precision medicine, often referred to as "personalized medicine," is designed for specific patient groups. It involves tailoring medical treatment to optimize efficiency and therapeutic benefit based on genetic understanding, reducing treatment costs, and minimizing associated side effects.

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What are Precision Medicine Market Dynamics?

The report offers a comprehensive analysis of the Precision Medicine Market, including market dynamics, drivers, restraints, challenges, and threats up to 2029. The growth in this market is primarily attributed to increasing genome sequencing, advancements in gene therapy, R&D investments by major players, and a growing prevalence of cancer and chronic diseases. Initiatives in precision medicine, application of Nanomedicines for targeted drug delivery, government funding, and partnerships between software companies and pharmaceuticals are driving market growth.

However, challenges such as developing cost-effective precision medicine, uneven infrastructure development in some regions, and a shortage of skilled IT specialists in healthcare may restrain market growth.

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What is Precision Medicine Market Segmentation?

The report provides in-depth segment analysis of the Precision Medicine Market. The treatment of cancers, driven by increasing cancer incidence, holds a major share, with ongoing research and genetic tests to develop precision medicine for cancer patients.

Pharma & Biotech Companies form the largest end-use segment, valued at approximately USD 24.2 billion in 2022, driven by the availability of innovative techniques and investment programs.

by Product types Instruments
Consumables
Services
by Technology Type Transcriptomics
Genomic Sequencing
Epigenomics
Bioinformatics
Drug Discovery
Companion Diagnostics
Big Data Analytics Software
Other Technologies
by Sequencing Technology type
Ion Semiconductor Sequencing
Pyrosequencing
Single Molecule
Real Time Sequencing
Chain Termination Sequencing
Sequencing by Synthesis
Sequencing by Ligation
Nanopore Sequencing
by Application Type
Oncology
Immunology
CNS
Respiratory
Neurosciences
Infections
Pharmacogenomics
Rare Diseases
Other
by End User
Pharma & Biotech Companies
Diagnostic Tool Companies
Big Data Companies
Clinical Laboratories
Healthcare Providers
Research Centers and Academic Institutes
Other

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Who are Precision Medicine Market Key Players?

1. ASEBIO
2. Biocrates Life Sciences AG
3. DxTerity Diagnostics Inc.
4. F. Hoffmann-La Roche Ltd
5. FOUNDATION MEDICINE
6. Intomics
7. Laboratory Corporation of America Holdings
8. Menarini Silicon Biosystems
9. NanoString Technologies, Inc
10. NeoGenomics Laboratories
11. Novartis AG
12. Pfizer Inc
13. QIAGEN
14. Quest Diagnostics Incorporated
15. Tepnel Pharma Services (Hologic Inc.)
16. Teva Pharmaceutical
17. Randox Laboratories
18. Biomrieux Sa
19. Abbott Laboratories
20. Intel Corporation
21. Cepheid

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Table of content for the Precision Medicine Market includes:

Part 01: Executive Summary

Part 02: Scope of the Precision Medicine Market Report

Part 03: Global Precision Medicine Market Landscape

Part 04: Global Precision Medicine Market Sizing

Part 05: Global Precision Medicine Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

Regional Insights:

North America leads the Precision Medicine Market, with a 43% share, followed by Europe at 26%. North America is expected to reach US$ XX billion by 2029, driven by government initiatives, well-developed healthcare infrastructure, and a high incidence of cancer. Asia-Pacific is projected to be the fastest-growing region with a CAGR of 11.5%, driven by reduced manufacturing costs, skilled workforce, and a focus on affordable medicine procurement.
Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2022)

Past Pricing and price curve by region (2018 to 2022)

Market Size, Share, Size & Forecast by different segment | 2023-2029

Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region

Market Segmentation - A detailed analysis by Product

Competitive Landscape - Profiles of selected key players by region from a strategic

perspective

Competitive landscape - Market Leaders, Market Followers, Regional player

Competitive benchmarking of key players by region

PESTLE Analysis

PORTER's analysis

Value chain and supply chain analysis

Legal Aspects of business by region

Lucrative business opportunities with SWOT analysis

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