Precision Medicine Market size to exceed $99bn by 2025

Precision Medicine Market  size is set to exceed USD 99 billion by 2025; according to a new research report by Global Market Insights.
 

Technological advancements in big data analytics and introduction to newer technologies will render positive impact on personalized medicine business growth. Focus of pharmaceutical and diagnostic companies on introducing several new technologies in the field of oncology and respiratory among others is expected to favor the industry growth. Moreover, precision medicine software is specifically designed to develop precise medicines that are utilized in the treatment of chronic and genetic diseases ensuring faster patient recovery. Massive demand for such software in healthcare companies for better patient management will augment the personalized treatment business growth.

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Rising awareness for personalized medication and healthy lifestyle will drive personalized treatment market growth. Benefits and convenience offered by personalized medication such as patient’s unique molecular and genetic profile to improve patient health further proves beneficial for business growth. Additionally, it accurately formulates the medication for the patients suffering from breast cancer, melanoma along with cardiovascular diseases for quick recovery. Thus, above-mentioned factors accelerate the precision medicine business growth. However, misinterpretation of genetic and health data may restrict precision medicine industry growth during the analysis period.
 

Precision Medicine Market

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Big data analytics segment was valued more than 7 billion in 2018 and will show lucrative growth over the coming years. Advancements in big data allows combination of electronic health records and analytical databases for managing patient data that should favor the segmental growth. It provides real time monitoring and enables physicians to improve their practices and patient’s quality of life that augments the demand for big data analytics. Moreover, development of various big data platform including iPhronesis that integrates genomics, electronic health record and imaging will favor the segmental growth.
 

Central Nervous System (CNS) segment accounted for around 22% revenue share in 2018 and will witness momentous CAGR by 2025. Increasing prevalence of central nervous system disorders across the globe will enhance huge demand for personalized medications. Additionally, neurocircuitry approach is currently been utilized for CNS drug development that allows customized data packages based on the drug pharmacology. Thus, above-mentioned factor further augments segmental growth.
 

Pharmaceutical companies segment was valued around 19 billion in 2018 owing to increasing advanced technologies in the field of precision medicine. Increasing adoption of advanced next generation sequencing as well as whole-genome sequencing techniques for identification of drug-related genetic alterations will spur segmental growth over the coming years.
 

Browse key industry insights spread across 160 pages with 192 market data tables & 8 figures & charts from the report, “Precision Medicine Market Size By Technology (Big Data Analytics, Bioinformatics, Gene Sequencing, Drug Discovery, Companion Diagnostics), By Application (Oncology, Immunology, CNS, Respiratory), By End-use (Pharmaceutical Companies, Diagnostic Companies, Healthcare IT Companies), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, France, Germany, Italy, Spain, Scandinavia, China, Japan, India, Singapore, Brazil, Mexico, Saudi Arabia, Qatar, South Africa, UAE), Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/precision-medicine-market
 

North America precision medicine market was valued over USD 21 billion in 2018. Favorable government scenario coupled with increased funding for research in precision medicine will drive the regional growth. Presence of well-established players and growing healthcare spending for effective patient health management should propel the industry growth.
 

Some of the notable business players functioning in precision medicine market include Novartis, Qiagen, Biocrates Life Sciences, Pfizer, Eagle Genomics, Tepnel Pharma Services, Intomics, NanoString Technologies, Quest Diagnostics, Menarini Silicon Biosystems, Teva Pharmaceutical and Roche. Several initiatives implemented by business players including partnerships and collaborations to withstand in the business will prove beneficial for overall industry growth. For instance, in January 2018, Roche collaborated with Syapse a leading precision medicine company. This strategy aimed at advancing precision medicine in oncology. Moreover, in January 2018, Roche and GE entered into a strategic partnership. This strategy aimed to develop integrated digital diagnostics platform and also to enhance critical care treatment as well as oncology.
 

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Precision Medicine market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2014 to 2025, for the following segments:
 

By Technology, 2014-2025 (USD Million)

  • Big Data Analytics
  • Bioinformatics
  • Gene Sequencing
  • Drug Discovery
  • Companion Diagnostics
  • Others

By Application, 2014-2025 (USD Million)

  • Oncology
  • Immunology
  • Central Nervous System (CNS)
  • Respiratory
  • Others

By End-use, 2014-2025 (USD Million)

  • Pharmaceutical Companies
  • Diagnostic Companies
  • Healthcare IT Companies
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Spain
    • Scandinavia
  • Asia Pacific
    • China
    • Japan
    • India
    • Singapore
  • Latin America
    • Brazil
    • Mexico
  • Middle East Asia & Africa
    • Saudi Arabia
    • Qatar
    • South Africa
    • UAE

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