Precision Medicine Market size to grow by 54.7 billion from 2022 to 2027- Technavio

NEW YORK, Nov. 14, 2023 /PRNewswire/ -- The precision medicine market size is expected to grow by 54.7 billion from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of 11.32% during the forecast period, according to Technavio Research. The market has been segmented by application (oncology, CNS, respiratory, immunology, and others), technology (bioinformatics, gene sequencing, drug discovery, precision molecular diagnostic, and big data analytics), and geography (North America, Europe, Asia, and Rest of World (ROW)). North America is estimated to account for 44% of the growth of the global market during the forecast period.  Some of the main factors that are significantly contributing to the growth of the market in North America include high healthcare spending, advanced healthcare infrastructure, and a strong focus on R&D. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read PDF Sample Report

Company Profile:

Amgen Inc, AbbVie Inc., AstraZeneca Plc, Biocrates Life Sciences AG, Bristol Myers Squibb Co., Catalent Inc., Eli Lilly and Co., F. Hoffmann La Roche Ltd., Gilead Sciences Inc., IQVIA Holdings Inc., Johnson and Johnson Services Inc., Lonza Group Ltd., Merck and Co. Inc., Novartis AG, Parexel International Corp., Pfizer Inc., QIAGEN NV, Sanofi SA, Takeda Pharmaceutical Co. Ltd., and Thermo Fisher Scientific Inc.

Amgen Inc: The company offers precision and personalized medicines for various treatments.

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The market share growth of the oncology segment is significant during the forecast period. Precision medicine enables doctors to develop personalized treatment plans tailored to specific genetic mutations. In addition, it also helps to identify specific molecular pathways involved in the development and progression of cancer.

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a PDF Sample Report

"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio

Precision Medicine Market: Driver & Trend:

Growing prevalence of chronic diseases

• The growing prevalence of chronic diseases drives the market growth during the forecast period. Diabetes, cardiovascular disease, cancer, respiratory diseases, and neurological disorders are some of the common chronic diseases.
• Growing demand for personalized medicine
• Advancements in genomics and proteomics

Trend- 

The growing use of artificial intelligence (AI) and machine learning (ML) in precision medicine is a primary trend shaping the market. By utilizing these technologies, a huge volume of patient data can be analyzed in a short time to develop targeted and personalized treatments.
Strategic alliances among market players are a key trend in the tyrosine kinase inhibitors market. Identify key trends, drivers, and challenges in the market. Download a sample report to gain access to this information.

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What are the key data covered in this precision medicine market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the precision medicine market between 2022 and 2027.
• Precise estimation of the precision medicine market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and ROW
• A thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of precision medicine market companies.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by Technology

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio