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Precision Medicine Market Overview Highlighting Major Drivers, Trends, Growth and Demand Report 2020 – 2027

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Precision Medicine Market Overview Highlighting Major Drivers, Trends, Growth and Demand Report 2020 – 2027

February 20
19:58 2021
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 is a developmental approach to the treatment and prevention of disease that uses knowledge of the genes or proteins of the body. Accredited to crucial discoveries such as microarray/biochips and single nucleotide polymorphism, the field of precision medicine has made enormous strides. Such biomedical advances are beneficial to physicians, the pharmaceutical industry, and society. The introduction of precision medicine has encouraged researchers to consider mechanisms for patients’ molecular and clinical profile. The global Precision Medicine market is projected to be valued at USD 132.66 billion by 2027, proliferating at a CAGR of 10.3%.

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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.

Market Drivers

In particular, Next Generation Sequencing (NGS), the development of sequencing methodologies is expected to drive the market due to the growing costs of sequencing and the Human Genome Project’s progress in genomics. The predicted increase in cancer prevalence would fuel demand for customized cancer diagnostics and treatments, which, in turn, will have a positive effect on the growth of the industry.

  • 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

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Regional Outlook

The Asia Pacific is projected to exhibit a lucrative improvement over the projected period due to the growing use of Big Data Analytics for precision medicine in the medical field. Many government policies, combined with the rising prevalence of chronic diseases in countries such as China and India, are expected to positively promote market growth. The growing demand for precision medicine in North America can be attributed to supportive government policies and growing advances in advancing new and effective disease control solutions. With the introduction of advanced technology in healthcare and a rising prevalence of cancer, the availability of favorable government policies will drive the sector’s growth.

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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 Million)

    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 Million)

    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

Chapter 7. Precision Medicine Market By Application Insights & Trends Revenue (USD Million)

    7.1. Application Dynamics & Market Share, 2019 & 2027

          7.1.1. Oncology

          7.1.2. Immunology

          7.1.3. CNS

          7.1.4. Respiratory

          7.1.5. Others

Continue…!

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