According to IMARC Group’s latest report, titled “Precision Medicine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, The study provides a detailed analysis of the industry, including the global precision medicine market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the precision medicine market?
The global precision medicine market size reached US$ 68.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 123.4 Billion by 2028, exhibiting a growth rate (CAGR) of 9.7% during 2023-2028.
What is precision medicine?
Precision Medicine is a specialized approach employed to tailor medical treatment to the individual characteristics of each patient, including genetic makeup, lifestyle, and environment. It involves the use of advanced diagnostic methods and genetic sequencing to identify unique patient profiles, enabling targeted therapies and personalized treatment plans.
Characteristically, precision medicine incorporates an understanding of molecular biology, genomics, and patient data, utilizing innovative technologies such as next-generation sequencing and big data analytics. It comes in various applications, such as oncology, cardiovascular diseases, and neurodegenerative disorders, to cater to specific medical conditions and patient needs. Features often include biomarker identification for targeted therapy, personalized treatment plans for optimum results, and ongoing monitoring for therapeutic assessment. The design intricacies of precision medicine approaches directly impact patient outcomes, making the selection and implementation an essential part of the healthcare experience.
Request for a sample report or buy full report: https://www.imarcgroup.com/precision-medicine-market/requestsample
What are the growth prospects and trends in the precision medicine industry?
The increasing emphasis on personalized healthcare and the growing awareness of the benefits of targeted treatments are key drivers propelling the growth of the precision medicine market globally. Coinciding with this trend, precision medicine methodologies are increasingly recognized for their scientific rigor and patient-centered focus, significantly influencing market growth.
Additionally, the increasing demand from various sectors, including hospitals, research institutions, and specialized clinics for customized and precise medical solutions, is accelerating market expansion. Furthermore, the need for compliance with regulations pertaining to patient safety, quality standards, and ethical considerations is fueling the market's growth. The global healthcare and technological landscape, along with governmental policies supporting medical innovation and personalized care, is fostering a positive market outlook. Other factors, such as investments in research for developing innovative precision medicine technologies, and the emergence of companies specializing in personalized medical services, are boosting market growth worldwide.
Who are the key players operating in the precision medicine market?
The competitive landscape of the industry has also been examined along with the profiles of the key players:
- AstraZeneca plc
- Bayer AG
- BioMérieux SA
- Bristol-Myers Squibb Company
- Eli Lilly and Company
- Hoffmann-La Roche AG
- Illumina Inc.
- Laboratory Corporation of America Holdings
- Merck KGaA, Novartis AG
- Pfizer Inc.
- Qiagen N.V.
- Quest Diagnostics Incorporated
- Thermo Fisher Scientific Inc.
What is Included in market segmentation?
The report has categorized the market based on product, technology, application, end user and region.
Breakup by Product:
- Consumables
- Instruments
- Services
Breakup by Technology:
- Big Data Analytics
- Bioinformatics
- Gene Sequencing
- Drug Discovery
- Companion Diagnostics
- Others
Breakup by Application:
- Oncology
- Central Nervous System (CNS)
- Immunology
- Respiratory Medicine
- Infections
- Others
Breakup by End User:
- Hospitals and Clinics
- Diagnostic Centers
- Pharma and Biotech Companies
- Healthcare IT Firms
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Ask Analyst for Customization and Browse full report with TOC List of Figure: https://www.imarcgroup.com/request?type=reportid=4567flag=C
Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Email: sales@imarcgroup.com
Follow us on Twitter: https://twitter.com/ImarcServices
LinkedIn: https://www.linkedin.com/company/imarc-group/mycompany/
