Global Precision Medicine Market
Increased global incidence of cancer and rise in cancer susceptible aging population, cost-effective profiling of DNA, increase in data-driven healthcare, and government funding for R&D are the key factors propelling the growth of the market.The precision medicine market is also surging due to the advancement in technology such as Biomarker-based tests/kits, next gene sequencing, and precise imaging. Moreover, high-throughput omics technologies that have been applied in basic biomedical and biological research are anticipated tofurther fuel the market size.
The potential obstacles to the expansion of the market on a global scale include dearth in a systematic approach towards funding and soaring prices of personalized drugs as well as declining trends in FDA pharmacotherapy approval rate. Furthermore, the market is still combating acute data storage and data privacy issues. This poses a barrier to the market growth as insurance companies could use the genetic data of patients and increase the premium for individuals susceptible to genetic diseases.
The global Precision Medicine marketis fragmented on the basis oftechnology and application.
--> Big Data Analytics
--> Gene Sequencing
--> Drug Discovery
--> Companion Diagnostics
The drug discovery market segment holds the largest share of USD XX million, followed closely by gene sequencing and companion diagnostics.
--> Respiratory Medicine
The North American region dominates the global precision medicine market with the USA contributing the major share, followed by Europe. Europe will also prove to be a consistent market, crawling up the revenue chart within the forecast period. However, the Asia-Pacific market will be the one to watch in terms of growth. The market is expected to witness a sharp hike, with Japan leading the market, and China and India following closely behind.On the other hand, the Middle East and African region is forecasted to experience a slower market growth if current circumstances persist.
Many companies in this field are adopting product enhancements and launches, strategic acquisitions, and agreements as their key business strategies in order to top the global market. The prominent industry players contributing to the global market share include Pfizer, Roche, Covance, Novartis, Qiagen, Biocrates Life Sciences, Teva Pharmaceutical, Nanostring Technologies, Laboratory Corporation of America Holdings, Tepnel Pharma Services, Intomics, Ferrer InCode, Silicon Biosystems, Eagle Genomics, Medtronic, and Quest Diagnostics.
> Market segments
> Market Drivers, Restraints and Opportunities
> Market Size & Forecast 2016 to 2022
> Supply & Demand Value Chain
> Market - Current Trends
> Competition & Major Companies
> Technology and R&D Status
> Porters Five Force Analysis
> Strategic and Critical Success Factor Analysis of Key players
> North America
>> US and Canada
> Latin America
>> Mexico, Brazil, Argentina and Rest of Latin America
> Western Europe
>> EU5 (Germany, France, Italy, Spain, U.K.)
>> Nordic Countries (Denmark, Finland, Norway, and Sweden)
>> Benelux (Belgium, The Netherlands, and Luxembourg)
>> Rest of Western Europe
> Eastern Europe
>> Rest of Eastern Europe
> Asia Pacific
>> Australia and New Zealand
>> Rest of Asia Pacific
> Middle East and Africa
>> GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
>> South Africa
>> North Africa
>> Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on Market Segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
> Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
> Consumer and Pricing Analysis
> Market Dynamics of the industry
> Market Segmentation
> Estimated Market Sizing in terms of volume and value
> Recent trends in Market and impact
> Research Status and Technology Overview
> Extensive Industry Structure Coverage
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