Massive Growth in Global Precision Medicine Market Which is Thriving Superior till 2022

The global precision market is estimated to grow at a CAGR of 12.48% during the forecasted period. The Americas is the largest contributor in the revenue generation in precision medicine followed by Europe region, and is expected to grow at a high CAGR of 11.63% CAGR from 2015 to 2022.

The market for precision market started emerging when the human genome project started in 1990s. It gave platform for the precision medicine market and the eventually started developing. The market was introduced in early 21st century; the market has shown a promising growth. With the advancement of gene mapping and gene sequencing tools, the precision medicine market has emerged as a modern healthcare technology.

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The market growth is gaining speed as large number of government initiatives and research & development programs has been launched in the recent years. The research tries to answer various aspects of the precision medicine market such as factors driving the market, its threats that can possibly slow down the market growth and the current growth opportunities that are going to shape the market expansion of precision medicine solutions. The advancement and innovation of new healthcare technologies are developing the platform for the growth of precision medicine market. Since, the announcement of ‘Precision Medicine Initiative’ by the president Barack Obama in January end, 2015, a large number of research and developments are being done for the development of precise drugs, targeted therapeutics, and laboratory tests. Presently, the main focus of the government initiatives is toward oncology, but it is anticipated to target almost all therapeutic area affected by genetic mutations.

Government regulations and standards are sustaining the growth and development of the precision medicine market. The precision medicine market growth is propelled by increasing demand for personalized treatment, technological innovation and advancement (Biomarker-based tests/kits, next gene sequencing, and precise imaging), Government support and regulations have created a demand for the precision medicine solutions.

The global market is segmented into the four major geographic region which includes Americas, Europe, Asia-Pacific and Rest of the world. The market is also been segmented on the basis of the ecosystem players and therapeutic application. The players are segmented on the basis of the diagnostic tool companies, healthcare-IT/ big data companies, pharma & biotech companies and lastly the clinical labs. Whereas on the basis of therapeutic application the segmentation is the done with infectious diseases, central nervous system, cardiovascular, cancer and others.

Companion Diagnostic tests are holding a market share of 26% in 2014 of the entire precision medicine market and are expected to gain its share to ~28% by 2022 while growing at a CAGR of 13.47% from 2015 to 2022.

Key Questions Answered In This Report:

What will the market size and what will the growth rate be?

What is driving this market?

What are the key market trends?

What are the challenges to market growth?

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The Global Precision Medicine market statistical report published by Market Research future contains a brief overview of global precision medicine market by region, ecosystem players and therapeutic application. Americas commands the largest share and is expected to grow continuously during the forecasted period of 2014-2022. The report analyzed the global precision medicine market share on the basis of region, ecosystem players and therapeutic application and its growth rate for 2015 along with forecast till 2022.

Market Research future through this report aims to provide understanding of the Global Precision Medicine market on the basis of region, ecosystem players and therapeutic application and also assists identification of ongoing trends along with anticipated growth during the forecasted period. For this report, extensive primary research was conducted to gain a deeper insight of the market performance. Various industry experts and Key Opinion Leaders (KOLs) were contacted and interviewed to get an idea of Global Precision Medicine market.

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