Precision medicine is becoming one of the most modernized trends in the healthcare industry showing an incredible growth in the recent years. The market growth is gaining speed as large number of government initiatives and research & development programs have been launched in the recent years. According to the report put forward by the market research experts, the global precision medicine market is expected to grow over $88 billion by 2022 at an estimated CAGR of 12.60% from 2015 to 2022.
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This market research report on the Precision Medicine Market is a complete study of the markets current trends, industry growth drivers and restraints. It provides market forecasts for the coming years.
It involves analysis of recent developments in technology, Porter's five force model analysis and definite profiles of finest industry players. The report also builds a review of micro and macro factors imperative for the new entrants in the market and the ones already in the market along with detailed value chain analysis.
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While The Americas will continue to lead the global market through the forecast period, Europe and APAC will continue to be the principal revenue generating countries of the world. The global precision medicine market, on the basis of sub-market categories, is segmented into: companion diagnostics, biomarkers, targeted therapeutics, pharmacogenomics, molecular diagnostics and others.
With increasing research and development processes, it has been estimated that the demand for precision drugs will escalate in the coming future, thus, resulting in the domination of the Pharma & Biotech segment. At present, Cancer is dominating the market and is expected to reach $46.38 billion by 2022, as the number of cancer patients are increasing every year and thus, deployment of targeted therapeutics and diagnosis applications of cancer is also anticipated to increase tremendously.
The report provides definite explanation of the systems used across various regions. It aims at analyzing the market size and future growth potential of this market across different sectors such as products, application, end user and region.
Likewise, the report includes a comprehensive competitive analysis of the important players in the market including their company profiles, SWOT analysis, new developments, and decisive market strategies.
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Primarily, the reason attributed to the growth of the precision medicine therapeutics market is due to the increase in cancer cases, cardiac diseases, skin diseases, mental disorders, and other gene related issues. In Americas have existing players who are integrating with new start-ups through partnerships and collaboration so as to capture the North American segment.
North American local players are entering to capture the South American precision medicine market. Throughout the Asia-Pacific countries, regulatory bodies are rolling out regulations to keep a check on latest technologies.
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