Global Precision Medicine Market by Technology, Application, and Region - Size, Share, Outlook, and Opportunity Analysis 2019-2027

Precision medicine guides disease diagnosis, treatment, and prevention of cancer, hereditary diseases, and other disorders based on an individual's unique clinical, molecular, and lifestyle information. Doctors and researchers will be able to predict more accurately which treatment and prevention methods for a specific disease will work in which groups of people using this approach. Through the use of pharmacogenomics, which analyses patient data to guide effective and safe medication plans for patients, precision medicine has the potential to enhance population health and lower overall healthcare costs. The detailed characterization of human biology is now possible owing to innovations in biomarkers, bioimaging, and wearable technologies. Clinicians employ a combination of genomic data, health records, lab tests, and other patient data to help personalise therapy in precision medicine. In this way they will be able to offer the appropriate treatment to the appropriate patient at the appropriate time.

Market Dynamics

The increasing adoption of inorganic strategies such as collaborations and partnerships by the key players in the market is expected to drive the global precision medicine market over the forecast period. For instance, in September 2020, Thermo Fisher Scientific Inc., the world leader in serving science, announced new collaborations of the Thermo Fisher Precision Medicine Science Center (PMSC) with AstraZeneca, a multinational pharmaceutical and Biotechnology Company, and the University of Nebraska Medical Center, a public medical school in Omaha, Nebraska. The new collaboration will help strengthen the PMSC's mission of creating standardized workflows with pharma and academic partners to create new opportunities for precision medicine.

Key features of the study:

• This report provides an in-depth analysis of the global precision medicine market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global precision medicine market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Intomics, GENinCode, NanoString, Tepnel Pharma Services Limited, Pfizer Inc., Novartis AG, Teva Pharmaceutical Industries Ltd., Merck & Co., Inc, QIAGEN, Quest Diagnostics Incorporated, Medtronic, Thermo Fisher Scientific Inc., Laboratory Corporation of America Holdings, bioMérieux SA, F. Hoffmann-La Roche Ltd, Eli Lilly & Company, GlaxoSmithKline plc, Cepheid, AstraZeneca PLC, Myriad Genetics, Inc., Bristol-Myers Squibb Company, and Foundation Medicine, Inc.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global precision medicine market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global precision medicine market

Detailed Segmentation

Global Precision Medicine Market, By Technology:

• Bioinformatics
• Gene Sequencing
• Drug Discovery
• Precision Molecular Diagnostics
• Big Data Analytics

Global Precision Medicine Market, By Application:

• Oncology
• Breast Cancer
• Lung Cancer
• Others
• Central Nervous System
• Hematology
• Respiratory
• Immunology
• Others

Global Precision Medicine Market, By Region:

• North America
• By Country
• U.S.
• Canada
• Latin America
• By Country
• Brazil
• Mexico
• Argentina
• Rest of Latin America
• Europe
• By Country
• Germany
• U.K.
• France
• Italy
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• By Country
• China
• India
• Japan
• Australia
• South Korea
• ASEAN
• Rest of Asia Pacific
• Middle East
• By Country
• GCC
• Israel
• Rest of Middle East
• Africa
• By Region/Country
• South Africa
• Central Africa
• North Africa

Company Profiles

• Intomics
• GENinCode
• NanoString
• Tepnel Pharma Services Limited
• Pfizer Inc.
• Novartis AG
• Teva Pharmaceutical Industries Ltd.
• Merck & Co., Inc
• QIAGEN
• Quest Diagnostics Incorporated
• Medtronic
• Thermo Fisher Scientific Inc.
• Laboratory Corporation of America Holdings
• bioMérieux SA
• Hoffmann-La Roche Ltd
• Eli Lilly & Company
• GlaxoSmithKline plc
• Cepheid
• AstraZeneca PLC
• Myriad Genetics, Inc.
• Bristol-Myers Squibb Company
• Foundation Medicine, Inc.

“*” marked represents similar segmentation in other categories in the respective section.