Markntel Advisors’ report, Precision Medicine Research Report: Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2030, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the Precision Medicine presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.
Precision Medicine Market Industry Research Report & Market Summary:
The Global Precision Medicine Market size was valued at around USD 48.8 Billion in 2023 & is estimated to grow at a CAGR of around 10.6% during the forecast period, i.e., 2024-30. In recent years, the lifestyle of individuals has drastically changed, as they are following unhealthy diets, consuming excessive alcohol, and rarely engaging in physical activities like sports. The transition of individuals toward unhealthy lifestyles has led to rising instances of chronic diseases like diabetes, cardiovascular diseases, etc. According to the British Heart Foundation, as of 2024, almost 110 million men & 80 million women are suffering from coronary heart disease. The higher prevalence of chronic illnesses across the globe is resulting in the requirement for accurate treatment & medicines to improve an individual’s health condition, driving the Precision Medicine Market.
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Precision Medicine Market Dynamics:
Key Driver-
Rising Demand for Personalized Therapies to Boost Market Growth – Over the past few years, research by academic institutions, non-profit organizations, etc. has revealed that every individual responds differently to medicine due to genetic, physiological, environmental, and lifestyle factors. According to Stanford Medicine, in 2021, it was revealed that almost 99.5% of individuals have an abnormal or atypical response to at least one therapeutic drug. This variability in medication response slows down the efficacy of the treatments. As a result, healthcare facilities are adopting a personalized therapeutic approach, including tailored treatments based on patient characteristics. These tailored approaches optimize therapeutic outcomes and minimize the risk of adverse drug reactions.
Moreover, these personalized approaches also offer therapies based on the patient’s disease analysis, which helps in the early detection of disease risk, identification of high-risk individuals, and implementation of preventive measures. Therefore, individuals are seeking personalized therapies to mitigate disease progression and improve long-term health outcomes, driving the Precision Medicine Market.
Precision Medicine Market Segmentation Analysis:
According to MarkNtel study the market is segmented into the following categories:
By Technology
- Big Data Analytics- Market Size & Forecast 2019-2030F, USD Million
- Bioinformatics- Market Size & Forecast 2019-2030F, USD Million
- Whole Genome Sequencing- Market Size & Forecast 2019-2030F, USD Million
- Companion Diagnostics- Market Size & Forecast 2019-2030F, USD Million
- Molecular Imaging- Market Size & Forecast 2019-2030F, USD Million
- Artificial Intelligence- Market Size & Forecast 2019-2030F, USD Million
- Others (Pharmacogenomics, Genetic Testing, etc.)- Market Size & Forecast 2019-2030F, USD Million
Based on technology, big data analytics holds a significant share in the Global Precision Market owing to its advantages over other technologies like molecular imaging, whole genome sequencing, and others. Big data analytics helps pharmaceutical companies analyze patients’ illnesses to make informed, data-driven decisions.
By Solution Offering
- Consumables- Market Size & Forecast 2019-2030F, USD Million
- Reagents- Market Size & Forecast 2019-2030F, USD Million
- Assay Kits- Market Size & Forecast 2019-2030F, USD Million
- Instruments- Market Size & Forecast 2019-2030F, USD Million
- Real-Time PCR Machines- Market Size & Forecast 2019-2030F, USD Million
- Next-Generation Sequencing (NGS) Systems- Market Size & Forecast 2019-2030F, USD Million
- Microarray Scanners- Market Size & Forecast 2019-2030F, USD Million
- Others (Flow Cytometers, Imaging Systems, etc.) – Market Size & Forecast 2019-2030F, USD Million
- Services- Market Size & Forecast 2019-2030F, USD Million
- Genetic Testing and Counseling- Market Size & Forecast 2019-2030F, USD Million
- Pharmacogenomics Testing- Market Size & Forecast 2019-2030F, USD Million
- Cancer Genomic Profiling- Market Size & Forecast 2019-2030F, USD Million
By End User
- Pharmaceutical & Biotechnology Company- Market Size & Forecast 2019-2030F, USD Million
- Diagnostic Laboratories- Market Size & Forecast 2019-2030F, USD Million
- Healthcare IT- Market Size & Forecast 2019-2030F, USD Million
- Research Centers- Market Size & Forecast 2019-2030F, USD Million
- Healthcare Providers- Market Size & Forecast 2019-2030F, USD Million
- Others (Academic Institutes, Non-Profit Organization, etc.)- Market Size & Forecast 2019-2030F, USD Million
By Application
- Oncology- Market Size & Forecast 2019-2030F, USD Million
- Immunology- Market Size & Forecast 2019-2030F, USD Million
- Central Nervous System (CNS) – Market Size & Forecast 2019-2030F, USD Million
- Respiratory- Market Size & Forecast 2019-2030F, USD Million
- Gastroenterology- Market Size & Forecast 2019-2030F, USD Million
- Others (Endocrinology, Neurology, etc.)- Market Size & Forecast 2019-2030F, USD Million
Over the past few years, air pollution has emerged as one of the pivotal environmental problems due to the rapid industrialization of developing economies and surging transportation activities. The severe air quality index is resulting in a surge in several health-related issues, primarily respiratory diseases.
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific.
North America has a well-developed healthcare infrastructure with several state-of-the-art hospitals like the Mayo Clinic, Cleveland Clinic, research institutions, and medical centers.
As indicated in the latest market research report published by Markntel Advisors, “Precision Medicine Research Report: Forecast (2024-2030)”, this report offers a detailed analysis of the industry, featuring insights into the Precision Medicine. It encompasses competitor and geographical analyses, as well as recent advancements in the market.
Browse Full Report Along with TOC and Figures – https://www.marknteladvisors.com/research-library/global-precision-medicine-market.html
Top Companies Operating in the Precision Medicine Market:
- Hoffmann-La Roche Ltd.
- Astra Zeneca
- Qiagen
- Thermo Fisher Scientific Inc.
- Amgen Inc.
- Bayer AG
- Biogen Inc.
- Illumina Inc.
- Medtronic Plc
- Novartis Pharmaceutical Corporation
- Kailos Genetics, LLC.
- C2i Genomics
- Astarte Medical
- PerkinElmer Inc.
- Others.
Note – If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.
*Reports Delivery Format – Market research studies from MarkNtel Advisors are offered in PDF, Excel, and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address*
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Key Report Highlights:
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
Frequently Asked Questions (FAQs)-
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- What leading factors would propel and impede the industry across the geography?
- How has the industry been evolving in terms of geography & Precision Medicine Market adoption?
- How has the competition been shaping up across the geography?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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