Precision Medicine Market by Technology, Application, End-Use & Region to 2025: Global Market Insights, Inc.

SELBYVILLE, Del., Aug. 2, 2019 /PRNewswire/ -- Global precision medicine market has been witnessing remarkable growth pertaining to the shifting trends toward adoption of personalized medicines to obtain beneficial healthcare outcomes. The recent advancements in science and technology have helped companies in precision medicine industry speed-up the research in this emerging sector.

Even though researchers have been making continuous advancements, precision medicine has not yet become a part of routine care for patients. Ongoing discoveries in the healthcare sector will fuel the market size over the estimated timeframe.

A 2019 precision medicine market report by Global Market Insights, Inc. shows industry revenue is set to rise from USD 52 billion in 2018 to around USD 99 billion by 2025.

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Robust transformation in bioinformatics and companion diagnostics will have a positive influence on precision medicine industry size. Bioinformatics is fundamental for precision medicine. The research community has been looking forward to helping patients by utilizing bioinformatics. Increasing involvement of researchers and healthcare service providers in the advancements of bioinformatics is slated to transform precision medicine market trends over the years ahead.

Increasing number of patients has led to a rise in the amount of clinical data. Bioinformatics plays crucial role in managing and analyzing such huge amounts of data which supports doctors and hospitals to take suitable decisions while treating individual patients.

The use of bioinformatics technology to interpret, reshape, and utilize data for day-to-day healthcare activities will strengthen precision medicine industry outlook over forecast timeframe.

For the record, in 2017, bioinformatics-based precision medicine market size was valued at USD 7.4 billion and is estimated to witness considerable growth over the forecast timeframe.

Companion diagnostics is one of the most lucrative technology segments of the market. Increasing awareness among the doctors about efficient drug delivery coupled with ongoing developments in the healthcare sector will enhance the product demand.

Currently, most of the doctors have been using companion diagnostics technology to diagnose patients with breast cancer. With the help of advanced companion diagnostics, patients can easily find out which therapy will work for them and which will not.

Companion diagnostics technology segment is a major revenue contributor in precision medicine market, owing to its surging use to decide appropriate treatments with existing therapies. In addition, numerous research and development activities are in process to make companion diagnostics available for drug delivery related to autoimmune and cardiovascular disease.

The demand for companion diagnostics is slated to increase over the coming timeframe owing to the large number of healthcare benefits associated with it.

Browse key precision medicine market insights from the 2019 report spread across 160 pages offering 192 market data tables as well as 8 figures & charts along with the table of contents:

https://www.gminsights.com/industry-analysis/precision-medicine-market

Diagnostic companies' end-use segment is likely to propel global personalized medicine market over the estimated timeframe. With the increasing accumulation of personalized data at the molecular level, diagnostics companies have been working continuously to unlock precision medicine insights. With the deployment of some precision medicine initiatives across developed countries, global personalized medicine market has recorded substantial growth.

Precision Medicine Market Outlook, By End-use

1.1. Key segment trends

1.2. Pharmaceutical companies
1.2.1.  Market size, by region, 2014-2025 (USD Million)

1.3. Diagnostic companies
1.3.1.  Market size, by region, 2014-2025 (USD Million)

1.4. Healthcare IT companies
1.4.1.  Market size, by region, 2014-2025 (USD Million)

1.5. Others
1.5.1.  Market size, by region, 2014-2025 (USD Million)

The supportive regulatory scenario pertaining to healthcare infrastructure in the regions comprising Europe, Latin America, Middle East and Africa is poised to impact precision medicine industry demand from diagnostic companies. Ever-expanding demand for personalized medicines from diagnostic companies will further enhance the global market growth.

Precision medicine market size from respiratory applications is anticipated to register remarkable gains over the forecast timeframe. The growth is mainly attributed to increasing prevalence of respiratory diseases including chronic obstructive pulmonary disease (COPD) and asthma.

In the European Union, chronic ailments tend to increase healthcare costs and decrease productivity. For instance, COPD accounts for an expenditure of EUR 48.4 billion per annum while asthma costs EUR 33.9 billion yearly across the European Union. The shifting focus of hospitals and doctors toward providing treatments for the most prevalent chronic respiratory diseases is likely to boost precision medicine market forecast.

Europe is one of the most lucrative revenue pockets of personalized medicine industry and the region is predicted to open up new opportunities for the players over the years ahead. The leading factors driving European market outlook is the growing number of patients with cancer and respiratory diseases.

Respiratory diseases account for one in eight deaths across European countries. Respiratory infection and smoking are the major causes of increase burden of lung diseases in Europe.

With the increasing penetration of precision medicine across European countries, the proportion of deaths due to respiratory diseases, cancer, and COPD mortality is likely to decrease over the years ahead. Moreover, the growing adoption of advanced healthcare facilities is estimated to augment Europe personalized medicine market size over forecast timeframe.

Germany has emerged as one of the leading contributors of Europe precision medicine market size, owing to the availability of developed healthcare infrastructure and high-income level. In 2017, Germany market size was recorded at USD 2.6 billion and is likely to record substantial growth over the coming timeframe. The growth is mainly attributed to the rise in the number of pediatric and adult population that are more susceptible to metabolic diseases.

What does this report offer?

This precision medicine market report covers an in-depth analysis of every segment comprising technology, application, end-use, and region. The research study elaborates insights on this industry in terms of numerous parameters, such as industry outlook, growth drivers influencing commercialization graph of business space, market segmentation, and global trends characterizing the industry.

The report claims that the technology segment of the market is subdivided into bioinformatics, companion diagnostics, Big Data analytics, gene sequencing, drug sequencing, and others. The important pointers encompassed pertaining to the technology segment are remunerative forecast over anticipated duration, market share of each subsegment, and most proliferating trends.

Precision Medicine Market Demand, By Technology

4.1. Key segment trends

4.2. Big data analytics
4.2.1.  Market size, by region, 2014 – 2025 (USD Million)

4.3. Bioinformatics
4.3.1.  Market size, by region, 2014-2025 (USD Million)

4.4. Gene sequencing
4.4.1.  Market size, by region, 2014 – 2025 (USD Million)

4.5. Drug discovery
4.5.1.  Market size, by region, 2014-2025 (USD Million)

4.6. Companion diagnostics
4.6.1.  Market size, by region, 2014 – 2025 (USD Million)

4.7. Others
4.7.1.  Market size, by region, 2014-2025 (USD Million)

A detailed analysis of the application segment of personalized medicine market is entailed in the research report. The application segment is further segmented into respiratory, immunology, oncology, central nervous system (CNS), and others.

Precision Medicine Market Statistics, By Application

1.1.  Key segment trends

1.2. Oncology
1.2.1.  Market size, by region, 2014-2025 (USD Million)

1.3. Immunology
1.3.1.  Market size, by region, 2014-2025 (USD Million)

1.4. Central Nervous System (CNS)
1.4.1.  Market size, by region, 2014-2025 (USD Million)

1.5. Respiratory
1.5.1.  Market size, by region, 2014-2025 (USD Million)

1.6. Others
1.6.1.  Market size, by region, 2014-2025 (USD Million)

In terms of the end-use landscape, precision medicine market is divided into diagnostic companies, healthcare IT companies, pharmaceutical companies, and others. The end-use segmentation entails a detailed collection of prioritized market definitions, industry scope, and leading driving factors.

The precision medicine industry report also elaborates on the market share of the subsegments to be held currently and by the end of forecast timeframe. Numerous trends characterizing the performance of the end-use landscape have been elaborated on, in the study.

Regionally, precision medicine market report is segmented into North America, Europe, Asia Pacific, Latin America, Middle East Asia and Africa. The regions are further divided based on countrywide market contribution, consumer base, availability of industry players, and many more aspects.

The precision medicine market report basically encompasses a collection of important parameters that would make it easy for leading stakeholders to undertake the process of decision-making. The research report also includes vital information about SWOT analysis, industry driving factors, and more.

The document also provides a detailed industry ecosystem analysis, executive summary, an overview of global trends, industry insights, and the market segmentation. Deliverables related to the regulatory spectrum and competitive scenario are also discussed in the study alongside the business tactics inculcated by the industry players.

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Precision Medicine Market Forecasts 2019-2025
The world precision medicine market is set to register 10%+ CAGR from 2019 to 2025, owing to growing popularity of personalized medication.

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