The global Precision Medicine market size reached USD 2.20 Billion in 2020 and is expected to register a CAGR of 21.8%,during the forecast period, according to latest analysis by Emergen Research. Increasing demand for players performance tracking and analysis is one of the key factors expected to continue to drive global Precision Medicine market revenue growth over the forecast period. In addition, increasing demand for Precision Medicine solutions to determine value of players in player transfers is another factor expected to boost revenue growth of the global Precision Medicine market in future. Furthermore, rising sports technology investments for data-driven decision making is expected to augment the global Precision Medicine market growth over the forecast period.
However, lack of awareness about advantages of Precision Medicine solutions is expected to hamper growth of the global Precision Medicine market over the forecast period.
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Based on the competitive landscape, the market report analyses the key companies operating in the industry:
Biocrates Life Sciences, Tepnel Pharma Services, Menarini Silicon Biosystems, NanoString Technologies, Quest Diagnostics, Qiagen, Teva Pharmaceutical, Eagle Genomics, Novartis, and Pfizer, among others.
The report offers precise information about pricing, capacity, value, gross revenue, and profit of the market. The primary aim of the report is to offer in depth details about market size, revenue growth and overall market dynamics to readers, stakeholders, companies to strengthen their share in the global Precision Medicine market. It also provides in depth information about key factors, restraints, limitations, challenges along with various market segmentations such as product type, application and regional bifurcation.
Further key findings from the report suggest
- Based on technology, drug discovery is projected to grow with a CAGR of 9.8% in the forecast period, due to the growing emphasis of bio-pharmaceutical players on developing precision medicine for treating diseases, including cancer, which will further boost the market growth.
- The diagnostic companies expected to grow with a CAGR of 10.4% in the forecasted period, owing to a wide variety of applications for which big players in the precision medicine industry are engaged in various investment programs.
- The oncology application is the major contributor to the Precision Medicine Market. The segment is growing due to the rising frequency and prevalence of cancer worldwide, which will intensify the demand for precision medicine as an essential form of therapy coupled with developing tailored treatments for patients with cancer dependent on their genetic makeup over traditional chemotherapy.
- North America dominated the market for Precision Medicine in 2019. The region’s consistent focus on cost-effective and innovative procedures that are adopted in the area is driving the market.
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For the purpose of this report, Emergen Research has segmented into the global Precision Medicine Market on the basis of technology, end-use, application, and region:
Technology Outlook (Revenue: USD Billion; 2017-2027)
- Big Data Analytics
- Bioinformatics
- Gene Sequencing
- Drug Discovery
- Companion Diagnostics
- Others
End-Use Outlook (Revenue: USD Billion; 2017-2027)
- Pharmaceutical Companies
- Diagnostic Companies
- Healthcare IT companies
- Others
Application Outlook (Revenue: USD Billion; 2017-2027)
- Oncology
- Immunology
- CNS
- Respiratory
- Others
The study segments the Precision Medicine industry in light of major classification such as product type, potential markets, application, and end-user. This industry assessment for the forecast period, 2020 – 2027 incorporates projections pertaining to the investment feasibility, gross margin, profits, consumption volume, production capability and major market vendors. Likewise, statistics associated with the competitive landscape, shifting consumer behaviour and spending power is showcased and well-explained with the help of treasured resources such as charts, graphs and graphic images, which can be easily incorporated in the business or corporate presentations.
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Market Dynamics:
The report offers insightful information about the market dynamics of the Precision Medicine market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Precision Medicine market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Precision Medicine market.
Key point summary of the report:
- The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
- It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
- The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
- It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
- Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
- The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
- The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.
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