openPR Logo
Press release

Precision Medicine Market share value $87.7bn by 2023

04-24-2017 02:57 PM CET | Health & Medicine

Press release from: Global Market Insights, Inc.

Global Market insights, Inc.

Global Market insights, Inc.

The medical research report “Precision Medicine Market Size By Technology (Big Data Analytics, Gene Sequencing, Drug Discovery, Bioinformatics, Companion Diagnostics), By Application (Oncology, CNS, Immunology, Respiratory), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Scandinavia, Italy, Japan, China, India, Singapore, Mexico, Brazil, South Africa, UAE, Qatar, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023”, by Global Market Insights, Inc., Precision Medicine Market size is expected to reach USD 87.79 billion by 2023.

Increasing demand for personalized medicine specifically in cancer treatments and advancements in new healthcare technologies will drive precision global medicine market size. Favorable government regulations and standards will help sustain revenue growth.

The individualized diagnosis approach has dramatically improved owing to large-scale biologic database development, efficient methods for patient characterization, and computational tools to analyze large data sets. Emphasizing the need for public health database, The White House dedicated USD 55 million for creation of its largest database ‘Precision Medicine Initiative’ (PMI).

Request for a sample of this research report - https://www.gminsights.com/request-sample/detail/671

Recent research advances have helped expand benefits to various aspects of healthcare by enabling better understanding of disease mechanisms, assessment of disease risks and prediction of optimal therapy. A large number of investments in diagnostic research will further accelerate the shift from treatment to preventive medicine in healthcare.

Precision medicine is a novel method for treatment and prevention of chronic diseases based on the variability in individual genes and other lifestyle characteristics. The new approach enables doctors to better assess disease risk, and predict the optimal therapy. President Barack Obama announced the Precision Medicine Initiative (PMI) in 2015 to revolutionize the concept of medicine and generate scientific evidence required for the development of precision medicine. US FDA would receive USD 10 million as a part of the initiative for building the database to support the research and regulation.

Gene sequencing market size was over USD 8 billion in 2015. Post announcement of the PMI, FDA has recently issued draft guidelines on next generation sequencing-based tests to develop a new kind of healthcare that takes into account individual differences in people's genes, environments and lifestyles.

For more details, you can also visit @ https://pharmaceuticalintelligence.com/2017/02/19/precision-medicine-market-size-worth-87-7bil-by-2023/

Key insights from the report include:

• Drug discovery technology contributed over USD 9 billion to the global precision medicine market size in 2015, and is estimated to expand at 8.3% CAGR from 2016 to 2023. NGS and other such technologies will open new opportunities for industry participants. Regulation of NGS based test development will help create regulatory processes for genetic test development and application.

• The global companion diagnostics market is predicted to reach USD 17 billion by 2023. It plays a significant role in development of targeted drugs, thus speeding up the move towards more precise and individualized pharmacotherapy.

• Oncology application was over 30% of the precision medicine market share in 2015. There have been significant developments taken place across the globe in the area of breast cancer and other related cancers. Predictive biomarkers in lung cancer therapy targets receptors such as c-ros oncogene 1 receptor tyrosine kinase (ROS1), Epidermal Growth Factor Receptor (EGFR), Immune Checkpoints, and Anaplastic Lymphoma Kinase (ALK).

• U.S. precision medicine market share accounted for over 65% of the North American revenue in 2015, and is anticipated to continue witnessing growth due to increased government initiatives. For instance, The President’s budget in 2016 has allocated USD 130 million to the NIH for development of a national research cohort of a million voluntary U.S. participants, and the data is linked to EHR for easy access to academic scientists and physicians.

• China contributed 25% to the Asia Pacific precision medicine market size in 2015, mainly due to considerable government initiatives supporting growth in the region. Pfizer, Novartis, Covance, Medtronics, Qiagen, Quest Diagnostics, Roche Holding, Teva Pharmaceuticals, and Biocrates Life Sciences are some notable industry participants.

Make an inquiry for purchasing this report - https://www.gminsights.com/inquiry-before-buying/671

Global Market Insights has segmented the precision medicine industry on the basis of technology, application, and region:

• Precision Medicine Market Technology Analysis (Revenue, USD Million; 2013 - 2023)
o Big data analytics
o Gene Sequencing
o Drug discovery
o Bio Informatics
o Companion Diagnostics

• Precision Medicine Market Application Analysis (Revenue, USD Million; 2013 - 2023)
o Oncology
o CNS
o Immunology
o Respiratory

• Precision Medicine Market Regional Analysis (Revenue, USD Million; 2013 - 2023)

o North America
• U.S.
• Canada

o Europe
• UK
• Germany
• France
• Italy
• Scandinavia

o Asia Pacific
• China
• Japan
• India
• Singapore

o Latin America
• Mexico
• Brazil

o MEA
• South Africa
• Saudi Arabia
• Qatar
• UAE

Browse Related Reports:

• Pharmacovigilance Market Size By Clinical Trial Phase (Preclinical, Phase I, Phase II, Phase III, Phase IV), By Service Provider (In-house, Contract outsourcing) Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, Spain, Italy, France, China, Japan, India, Australia, Argentina, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Qatar), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024

https://www.gminsights.com/industry-analysis/pharmacovigilance-market

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Blog: https://gminsights.wordpress.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Precision Medicine Market share value $87.7bn by 2023 here

News-ID: 512722 • Views: 246

More Releases from Global Market Insights, Inc.

Robust rise in the demand for personal protective equipment in the light of the …
Personal protective equipment (PPE) is one of the most crucial elements for worker safety, especially in high-risk fields such as medical. The WHO (World Health Organization) has classified PPE as a collection of protective garments worn by healthcare workers or other personnel for security against infections. According to the Research report, the global Personal Protective Equipment Market was estimated at USD 47 billion in 2018 and is expected to hit $79
Biopesticides Market 2020-2024| Top Key Players are Bayer Crop Science, Marrone …
Declining availability of arable land due to excessive use of chemical pest controlling practices in farming could drive global biopesticides market outlook over the coming years. Consumers are increasingly preferring organic and sustainable food due to growing awareness regarding harmful impacts of consuming food grown with synthetic manure and chemicals. In 2016, bioherbicides saw sales of for more than USD 100 million worldwide. The product is in high demand owing to
Explosives & Pyrotechnics Market 2020-2025 | Orica Mining Services, Incitec Pivo …
The global explosives and pyrotechnics market share has witnessed a commendable growth rate in the last few years due to the increasing mining activities, military spending, and the rising use of fireworks during festivals and events across various nations. Pyrotechnics are designed to give special effects like illumination, smoke formation, propulsion, shooting, disintegration, and sound. The pyrotechnic items are not only used for entertainment but also used in military and
Why the GaN and SiC Power Semiconductor Market Is Set To Explode? | Global Playe …
In terms of geographical expansion, GaN and SiC power semiconductor market outlook is gradually changing in the developing countries of the Asia Pacific region such as India and China. The presence of large solar facilities is the most significant factor that has increased product demand in these nations. To put things into perspective, China has more solar energy capacity - a humongous 130 gigawatts - than any other nation in

All 5 Releases


More Releases for USD

Agriculture Robots worth USD 3.5 billion market
According to Goldstein Research, the rising demand for agriculture robots is being driven by a numerous factors including global population growth, increasing strain on the food supply and decreasing availability of farm workers in developed countries. Global agriculture robots market segmentation includes products types such as driverless tractors, milking robots, potato sorting system, unmanned aerial vehicles and other. The market for agricultural robots is emerging at a rapid pace, with
Polyurethane Dispersions Market worth USD 2.04 Billion USD by 2020
The report " Polyurethane Dispersions Market by Type (Water-Based Polyurethane Dispersions and Solvent-Based Polyurethane Dispersions), by Application (Coatings, Adhesives & Sealants, Synthetic Leather Production, Fiber Glass Sizing, and Others) - Trends & Forecasts to 2020", The global polyurethane dispersions market is projected to reach USD 2.04 Billion by 2020 at a CAGR of 6.8% between 2015 and 2020. This growth is fueled by the high potential from the textile and
Retail Analytics Market worth USD 5.1 Billion USD by 2020
According to a new market research report "Retail Analytics Market by Business Function (Marketing and Customer Analytics, Merchandizing and In-Store Analytics, Supply Chain Analytics, Strategy and Planning), by Type, by Solutions and by Services - Global Forecast and Analysis to 2020", defines and segments the global retail analytics market on the basis of business function, solutions, services, deployment types, and regions along with providing an in-depth analysis and market size
Metabolomics Market USD 1.24 Billion by 2020
The global metabolomics market is estimated to reach USD 1.24 Billion in 2020, growing at a CAGR of 15.6% from 2016 to 2020, according to a market research report Metabolomics Market 2013-2020, published by iHealthcareAnalyst, Inc. Visit the Metabolomics Market 2013-2020 report at https://www.ihealthcareanalyst.com/report/metabolomics-market/ Metabolomics is the scientific study of chemical processes involving metabolites, whereas metabolome represents the collection of all metabolites in a biological cell, tissue, organ or organism, which
Albumin Market USD 300 Million by 2020
According to a market research report Albumin Market 2013-2020, published by iHealthcareAnalyst, Inc., the global albumin market is estimated to reach USD 300 Million in 2020, expanding at a CAGR of 2.4% from 2016 to 2020. Visit the Albumin Market 2013-2020 report at https://www.ihealthcareanalyst.com/report/albumin-market/ The global albumin market segmentation is based on type (human serum albumin, bovine serum albumin, recombinant albumin), and its applications (drug formulation and drug delivery, vaccines, components
Nanomedicine Market USD 170 Billion by 2020
The global nanomedicine market is estimated to reach USD 170 Billion in 2020, growing at a CAGR of 8.9% from 2016 to 2020, according to a market research report Nanomedicine Market 2013-2020, published by iHealthcareAnalyst, Inc. Visit the Nanomedicine Market 2013-2020 report at https://www.ihealthcareanalyst.com/report/nanomedicine-market/ Nanomedicine is the medical application of nanotechnology that ranges from the medical applications of nanomaterials and biological devices, to nanoelectronic biosensors, and even possible future applications of