• Resources
  • Blog
  • Journalists
  • Log In
  • Sign Up
  • Data Privacy
  • Send a Release
Cision PR Newswire: news distribution, targeting and monitoring home
  • News
  • Products
    • Overview
    • Distribution by PR Newswire
    • Cision Communications Cloud®
    • Cision IR
    • All Products
  • Contact
    • General Inquiries
    • Request a Demo
    • Editorial Bureaus
    • Partnerships
    • Media Inquiries
    • Worldwide Offices

 

When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • All Public Company
      • English-only
      • News Releases Overview

      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
      • Multimedia Gallery Overview

      • Trending Topics

      • All Trending Topics
  • Business & Money
      • Auto & Transportation

      • All Automotive & Transportation
      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • Auto & Transportation Overview

      • View All Auto & Transportation

      • Business Technology

      • All Business Technology
      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • Business Technology Overview

      • View All Business Technology

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Financial Services & Investing

      • All Financial Services & Investing
      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • Financial Services & Investing Overview

      • View All Financial Services & Investing

      • General Business

      • All General Business
      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • General Business Overview

      • View All General Business

  • Science & Tech
      • Consumer Technology

      • All Consumer Technology
      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • Consumer Technology Overview

      • View All Consumer Technology

      • Energy & Natural Resources

      • All Energy
      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • Energy & Natural Resources Overview

      • View All Energy & Natural Resources

      • Environ­ment

      • All Environ­ment
      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • Environ­ment Overview

      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • All Heavy Industry & Manufacturing
      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • Heavy Industry & Manufacturing Overview

      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • All Telecomm­unications
      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • Telecomm­unications Overview

      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • All Consumer Products & Retail
      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • Consumer Products & Retail Overview

      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Health

      • All Health
      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • Health Overview

      • View All Health

      • Sports

      • All Sports
      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • Sports Overview

      • View All Sports

      • Travel

      • All Travel
      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • Travel Overview

      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • All Policy & Public Interest
      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • Policy & Public Interest Overview

      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • All People & Culture
      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • People & Culture Overview

      • View All People & Culture

      • In-Language News

      • español
      • português
      • Česko
      • Danmark
      • Deutschland
      • España
      • France
      • Italia
      • Nederland
      • Norge
      • Polska
      • Portugal
      • Россия
      • Slovensko
      • Suomi
      • Sverige
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • All Products
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • PR Newswire: news distribution, targeting and monitoring
  • Send a Release
    • ALL CONTACT INFO
    • Contact Us

      888-776-0942
      from 8 AM - 10 PM ET

  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
    • Trending Topics
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • All Products
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR

Global Precision Medicine Market to Reach $216.75 Billion by 2028

BIS Research (PRNewsfoto/BIS Research)

News provided by

BIS Research

Jan 31, 2019, 07:00 ET

Share this article

Share this article


FREMONT, California, January 31, 2019 /PRNewswire/ --

According to a new market intelligence report by BIS Research, titled 'Global Precision Market - Analysis and Forecast, 2018-2028', the global precision medicine market was estimated at $78.85 billion in 2018 and is expected to grow over $216.75 billion by 2028. The market is anticipated to grow at a CAGR of 10.64% between the years 2018 and 2028, aided by the impressive growth in the digital health and information technology market.

     (Logo: https://mma.prnewswire.com/media/495163/BIS_Research_Logo.jpg )

Browse 22 market Data Tables and 325 Figures spread through 544 Pages and in-depth TOC on 'Global Precision Medicine Market'

The precision medicine market is a multibillion market which consists of innumerable companies involved in the research and development, manufacturing and commercialization of several novel drugs and diagnostic kits to boost the Precision Medicine workflow. Currently, the precision medicine market is gaining preference among the masses due to the growth of personal healthcare devices and integration of smart technologies in the healthcare system. In addition to increasing collaborations and partnerships between various ecosystem players that are aiding the robust growth of the precision medicine market. The growth of market is propelled by an increasing demand for personalized treatment, technological innovation and advancement (including biomarker-based tests/kits, next gene sequencing, and precise imaging), government support and regulations, which consequently, have created a demand for the precision medicine solutions.

Precision medicine got a further push with the introduction of the Precision Medicine Initiative by the U.S. government in 2015. To facilitate the development of targeted therapeutics, the number of commercialized predictive biomarker assays has increased tremendously, especially in case of chronic diseases. Such biomarker-based assays are known as companion diagnostics (CDx), which are developed in parallel to the targeted drug development process by pursuing drug-diagnostic co-development model. Also, companion diagnostics provides essential information for patient classification, enabling effective and safe use of corresponding drug or biological products.

BIS Research Report: https://bisresearch.com/industry-report/precision-medicine-market.html

Companion diagnostics help healthcare professionals to assess the benefits and side-effects or risk of therapeutic products on a patient. In the last five years targeted drugs which are tailored to biomarkers are developed with the help of a companion diagnostic to identify the patient population, which will respond positively to that targeted therapeutic. Therefore, CDx drug co-development model is preferred in healthcare industry, making CDx an indispensable part of the precision medicine.

According to Abdul Wahid Khan, Analyst at BIS Research "North America is the leading contributor to the global precision medicine market and contributed approximately 46.8% of the global market values in 2018. However, the Asia-Pacific region is expected to grow at an impressive CAGR of 12.33% during the forecast period from 2018 to 2028."

Following are the Research Highlights: 

  • Precision medicine is a multi-faceted approach wherein diverse range of technologies such as genomics, pharmacogenomics, biomarkers, medical imaging, bioinformatics, molecular diagnostics, and big data analytics synergize to achieve an individualized treatment approach regimen for an individual or a group of individuals.
  • The global precision medicine digital health and information technology market (by type) is dominated by CDSS segment. The need to reduce medical errors and patient readmission is the main driver for the use of any decision support system in a healthcare organization.
  • Currently the global precision medicine market is dominated by applied sciences in the ecosystem segment. In 2018, the contribution of applied sciences in global precision medicine market was around 32.58% of the total global precision medicine market revenue.
  • Contribution of clinical trials segment is witnessing, a CAGR of 8.20% during the forecast period. The growth can be attributed to the increasing demand for individualized drugs and personalized treatment among the individuals.
  • Increasing incidence of neurological disorders is a major factor bolstering the growth of the neurology/ physiatry segment in the global precision medicine market
  • China is anticipated to have the potential to overtake the U.S. as the world's largest precision medicine market by 2040. In 2016, China's Ministry of Science & Technology announced precision medicine as part of its five-year plan, with an expected investment of 60 billion Yuan (or more than $9 billion) for the research.

Source: BIS Research Analysis

Request for a sample: https://bisresearch.com/requestsample?id=650&type=download

This market intelligence report provides a multidimensional view of the global precision medicine market in terms of market size and growth potential. This research report aims at answering various aspects of the global precision medicine market with the help of key factors driving the market, threats that can possibly inhibit the overall market growth, and the current growth opportunities that are going to shape the future trajectory of the market expansion.

Further, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the reader to get acquainted with the recent market activities, such as product launches and approvals, partnerships, collaborations, business expansions, as well as mergers and acquisitions, among others. The research report provides a comprehensive analysis of the product sales and manufacturers and trend analysis by segments.

This report is a meticulous compilation of research on more than 200 players in the market ecosystem and draws upon insights from in-depth interviews with key opinion leaders of more than 42 leading companies, market participants, and vendors. The report also comprises 42 detailed company profiles including several key players, such as Pfizer, Inc., Merck & Co., Inc., GlaxoSmithKline plc, AstraZeneca plc, Sanofi S.A., and Abbott Laboratories, among others.

Key questions answered in the report: 

  • What are the major market drivers, challenges, and opportunities in the global precision medicine market?
  • What are the underlying structures resulting in the emerging trends within the precision medicine market?
  • What was the market value of the leading segments and sub-segments of the global precision medicine market in 2017?
  • In terms of insurance and reimbursement, how has that been a limitation in Precision Medicine implementations, and how is that likely to change as there is a greater understanding of the importance of genetic testing for patients with cancer and other diseases.
  • How biomarkers will increasingly become the standards for treatment selection and treatment in cancers in general, rather than anatomical and other traditional ways of staging cancers?
  • How can the costs associated with precision medicine (including genetic testing to detect certain mutations, psychological evaluations, etc.) be justified, especially in terms of diseases that are already expensive to treat, like cancer?
  • What are the technologies that can have the largest and most immediate impact on the precision, as far as improving patient outcomes and delivery of care?
  • What are the key challenges in Integrating AI and Blockchain technologies into Precision Medicine?
  • How does the aggregation and integration of  individual's data will provide a depiction of the patient as an entire system, with embedded interrelationships?

Related Reports: 

Global Molecular Diagnostics Market - Analysis and Forecast, 2018-2028

Global Companion Diagnostics (CDx) Market - Analysis and Forecast, 2018-2025

Global Liquid Biopsy Market - Analysis and Forecast, 2018-2028

Global Non-Invasive Prenatal Testing (NIPT) Market - Analysis and Forecast, 2018-2028

Global Cell Free DNA Isolation and Extraction Market - Analysis and Forecast, 2018-2026

Global NGS Informatics and Clinical Genomics Market - Analysis and Forecast, 2018-2028

Global Biologics Market - Analysis and Forecast, 2017-2025

Global Next Generation Sequencing (NGS) Market - Analysis and Forecast, 2017-2024

Global Pharmacogenomics (PGx) Market - Analysis and Forecast, 2016-2022

About BIS Research:  

BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.

With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.

Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

What distinguishes BIS Research from the rest of the players is that we don't simply provide data but also complement it with valuable insights and actionable inputs for the success of our clients.

Contact:
Bhavya Banga
Email: [email protected]
BIS Research Inc.
39111 PASEO PADRE PKWY STE 313,
FREMONT CA 94538-1686

Visit our Blog @ http://bisresearch.com/blog/

Connect with us on LinkedIn @ https://www.linkedin.com/company/bis-research

Connect with us on [email protected] https://twitter.com/BISResearch

SOURCE BIS Research

Modal title

Also from this source

BIS Research Study Highlights the IoT Solutions for Micromobility ...

BIS Research Study Highlights the IoT Solutions for Micromobility ...


BIS Research Study Highlights the Automotive Inverter Market to...

BIS Research Study Highlights the Automotive Inverter Market to...

Explore

More news releases in similar topics

  • Pharmaceuticals
  • Health Care & Hospitals
  • Medical Pharmaceuticals
  • Surveys, Polls and Research

Contact Cision

  • Cision Distribution 888-776-0942
    from 8 AM - 9 PM ET

  • Chat with an Expert
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices

Products

  • Cision Communication Cloud®
  • For Marketers
  • For Public Relations
  • For IR & Compliance
  • For Agency
  • For Small Business
  • All Products

About

  • About PR Newswire
  • About Cision
  • Become a Publishing Partner
  • Become a Channel Partner
  • Careers
  • COVID-19 Resources
  • Accessibility Statement
  • Asia
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Israel
  • Italy
  • Mexico
  • Middle East
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United Kingdom

My Services

  • All New Releases
  • Online Member Center
  • ProfNet

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2022 Cision US Inc.