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Detailed examination of the precision medicine market growing at a CAGR of 10.5% during the forecast period of 2017 to 2024

Detailed examination of the precision medicine market growing at a CAGR of 10.5% during the forecast period of 2017 to 2024

The Precision Medicine Market accounted to USD 40.1 billion in 2016 growing at a CAGR of 10.5% during the forecast period of 2017 to 2024

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Global Precision Medicine Market,By Technology (Big Data Analytics, Bioinformatics, Gene Sequencing, Drug Discovery, Companion Diagnostics, Others), By Application (Oncology, Hematology, Infectious Diseases, Cardiology, Neurology, Endocrinology, Pulmonary Diseases, Ophthalmology, Metabolic Diseases, Pharmagenomics, Others), By End User (Pharmaceuticals, Biotechnology, Diagnostic Companies, Laboratories, Healthcare IT Specialist), By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024

Precision medicine is an emerging technique for treating diseases and prevention according to individual’s variability of genes, environment and lifestyle of the patient. The approach allows the doctors and researchers to predict, treat and take preventive strategies for a particular disease.

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Major Market Drivers And Restraints:

  • Increasing online collaborative forums
  • R&D investments for characterizing genes
  • Increased incidences of cancer
  • Hazard of data sharing
  • Lack of knowledge and skilled professionals

Market Segmentation:

By technology the market for precision medicine is segmented into big data analytics, bioinformatics, gene sequencing, drug discovery, companion diagnostics, and others.

By application the precision medicine market is segmented into oncology, hematology, infectious diseases, cardiology, neurology, endocrinology, pulmonary diseases, ophthalmology, metabolic diseases, pharmagenomics, and others.

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On the basis of end-users the precision medicine market is segmented into pharmaceuticals, biotechnology, diagnostic companies, laboratories, and healthcare it specialist.

Geographical Segmentation:

  • North America
  • Asia-Pacific
  • Europe
  • Middle East and Africa
  • South America

Competitive Analysis:

The precision medicine market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.

The report includes market shares of mass spectrometry market for global, Europe, North America, Asia Pacific and South America.

Some of the major players operating in precision medicine market are

  • Orion Health, Ariel Precision Medicine, Inc
  • Metabolon, Inc
  • Pfizer, Inc
  • Biocrates Life Sciences,
  • Medtronic
  • Novartis AS
  • Quest Diagnostics Incorporated
  • Hoffmann-La Roche Ltd
  • Teva Pharmaceutical Industries Ltd
  • Menarini Silicon Biosystems
  • Lantern Pharma
  • Nanostring Technologies, Inc
  • Hologic, Inc
  • Intomics A/S

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models.

Geographical Segmentation:

  • North America
  • South America
  • Europe
  • Asia-Pacific
  • Middle East and Africa

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