The Global Precision Medicine Market Is Expected To Reach USD 132.66 Billion By 2027, According To A New Report By Emergen Research. The Proliferation Of Sequencing Methodologies, Especially Next Generation Sequencing (NGS), Is Expected To Drive The Market Due To The Increasing Sequencing Costs And The Advancement Of The Human Genome Project In The Field Of Genomics.
The Rising Incidence Of Chronic And Unusual Diseases Triggers The Need To Build Technically Innovative Methods For Accelerated Medical Data Aggregation And Review. The Bioinformatics Program Helps In Data Processing By Rendering Successful Therapeutic Approaches. As A Consequence, The Growing Volume Of Data In The Healthcare Sector Would Fuel Demand For Bioinformatics, Raising Competition In The Industry For Precision Medicines.
Development Of Cost-Effective Research Approaches For Genomics And Molecular Genetics, And Growing The Usage Of Extensive Data Are Some Of The Main Drivers That Drive The Market Demand.
Precision Medicine Market Size – USD 60.33 Billion In 2019, Precision Medicine Market Growth – CAGR Of 10.3%, Precision Medicine Industry Trends – High Incidence Of Cancer.
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The Creation Of Bioinformatics Tools And Applications Would Promote The Production Of Immunotherapy And Thus Boost The Study Of Microbiomes, Thus Advancing The Area Of Precision Medicine. Besides, The Development Of High-Throughput Technologies Such As Next-Generation Sequencing And Microarray Will Pave The Way For Market Growth In Bioinformatics, Which Will Further Drive Market Demand In The Coming Years.
Market Dynamics:
The Report Offers Insightful Information About The Market Dynamics Of The Precision Medicine Market. It Offers SWOT Analysis, PESTEL Analysis, And Porter’s Five Forces Analysis To Present A Better Understanding Of The Precision Medicine Market, Competitive Landscape, Factors Affecting It, And To Predict The Growth Of The Industry. It Also Offers The Impact Of Various Market Factors Along With The Effects Of The Regulatory Framework On The Growth Of The Precision Medicine Market.
The Current COVID-19 Pandemic Is Expected To Have An Effect On The Growth Of The Precision Medicine Industry Majorly Attributable To The Movement Restrictions And Impact On The Supply And Demand Due To The Lockdowns. The COVID-19 Pandemic Has Affected Several Sectors Of The Global Market, And The Precision Medicine Sector Is Expected To Feel The Impact Of The Pandemic. The Economic Slowdown And Dynamic Changes In The Demands Will Further Affect The Growth Of The Industry. The Report Covers The Impact Analysis Of The COVID-19 Pandemic On The Overall Precision Medicine Industry.
Some Key Highlights From The Report
Based On Technology, Drug Discovery Is Projected To Grow With A CAGR Of 9.8% In The Forecast Period, Due To The Growing Emphasis Of Bio-Pharmaceutical Players On Developing Precision Medicine For Treating Diseases, Including Cancer, Which Will Further Boost The Market Growth.
The Diagnostic Companies Expected To Grow With A CAGR Of 10.4% In The Forecasted Period, Owing To A Wide Variety Of Applications For Which Big Players In The Precision Medicine Industry Are Engaged In Various Investment Programs.
The Oncology Application Is The Major Contributor To The Precision Medicine Market. The Segment Is Growing Due To The Rising Frequency And Prevalence Of Cancer Worldwide, Which Will Intensify The Demand For Precision Medicine As An Essential Form Of Therapy Coupled With Developing Tailored Treatments For Patients With Cancer Dependent On Their Genetic Makeup Over Traditional Chemotherapy.
North America Dominated The Market For Precision Medicine In 2019. The Region’s Consistent Focus On Cost-Effective And Innovative Procedures That Are Adopted In The Area Is Driving The Market.
Key Participants Include Biocrates Life Sciences, Tepnel Pharma Services, Menarini Silicon Biosystems, Nanostring Technologies, Quest Diagnostics, Qiagen, Teva Pharmaceutical, Eagle Genomics, Novartis, And Pfizer, Among Others.
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For The Purpose Of This Report, Emergen Research Has Segmented Into The Global Precision Medicine Market On The Basis Of Technology, End-Use, Application, And Region:
Technology Outlook (Revenue: USD Billion; 2017-2027)
Big Data Analytics
Bioinformatics
Gene Sequencing
Drug Discovery
Companion Diagnostics
Others
End-Use Outlook (Revenue: USD Billion; 2017-2027)
Pharmaceutical Companies
Diagnostic Companies
Healthcare IT Companies
Others
Application Outlook (Revenue: USD Billion; 2017-2027)
Oncology
Immunology
CNS
Respiratory
Others
Key Questions Addressed In The Report:
Who Are The Leading Players Dominating The Global Precision Medicine Market?
Which Factors Could Potentially Hamper The Global Market Growth During The Forecast Period?
Which Regional Market Offers The Most Attractive Growth Opportunities To The Companies Operating In This Market?
How Is The Raw Material Availability Affecting The Demand For Precision Medicine In This Industry Vertical?
Table Of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Precision Medicine Market Segmentation & Impact Analysis
4.1. Precision Medicine Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market Indicators Analysis
4.2.2. Market Drivers Analysis
4.2.2.1. Rise In The Online Collaborative Forums In Developed Economies Increased Adoption Of Gene Therapy Globally
4.2.2.2. Increasing Usage Of Big Data Analytics In Precision Medicine In Developing Economies
4.2.3. Market Restraints Analysis
4.2.3.1. High Cost Of Precision Medicine
4.2.3.2. Violation Of The Privacy Rule And Misinterpretation Of Genetic And Health Data
4.2.3.3. Reimbursement Challenges
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price Trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Precision Medicine Market By Technology Insights & Trends, Revenue (USD Billion)
5.1. Technology Dynamics & Market Share, 2019 & 2027
5.1.1. Big Data Analytics
5.1.2. Bioinformatics
5.1.3. Gene Sequencing
5.1.4. Drug Discovery
5.1.5. Companion Diagnostics
5.1.6. Others
Chapter 6. Precision Medicine Market By End Use Insights & Trends Revenue (USD Billion)
6.1. End Use Dynamics & Market Share, 2019 & 2027
6.1.1. Pharmaceutical Companies
6.1.2. Diagnostic Companies
6.1.3. Healthcare IT Companies
6.1.4. Others
Read More: https://www.emergenresearch.com/industry-report/precision-medicine-market
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At Emergen Research, We Believe In Advancing With Technology. We Are A Growing Market Research And Strategy Consulting Company With An Exhaustive Knowledge Base Of Cutting-Edge And Potentially Market-Disrupting Technologies That Are Predicted To Become More Prevalent In The Coming Decade.
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