Markntel Advisors, a leading consulting, data analytics, and market research firm, recently published an analytical report description that describes the recent achievements and developments of prominent players including new launching of innovative products, strategic collaborations, or partnerships, that bolster the growth of the Global Precision Medicine market. The research report on the Global Precision Medicine Market 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. 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.
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The report further comprises, “Global Precision Medicine Market Research Report: Forecast (2024-2030)”,
The 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.
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Global Precision Medicine Market 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.
Global Precision Medicine Market Analysis Based On Segment, Geography
The Global Precision Medicine market is segmented into significant segments based on:
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
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
By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific.
Read Detailed Index of full Research Study at – https://www.marknteladvisors.com/research-library/global-precision-medicine-market.html
Top Companies Essentially Working in Global 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., and others.
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 & Global Precision Medicine adoption?
- How has the competition been shaping up across the geography?
6. 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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