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The global precision medicine market reached a value of US$ XX Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Precision medicine is a medical approach to prevent and diagnose diseases by relying on an individual variability of genes, environment, and lifestyle. It assists in predicting the susceptibility to a disease, improving disease detection and progression, customizing strategies, and prescribing effective drugs. It also aids in making associated healthcare decisions, improving care quality, and eliminating trial-and-error inefficiencies. Moreover, as it reduces the time, cost, and failure rate of pharmaceutical clinical trials, precision medicine is widely utilized in diagnosing chromosomal abnormalities of the fetus and cancer, guiding therapy for chronic diseases and predicting the risk of passing on genetic disorders to offspring.
At present, there is a considerable rise in the use of precision medicine techniques to understand the coronavirus disease (COVID-19) susceptibility, measure its impact, and discover potential therapies. This represents one of the key factors strengthening the growth of the market. Apart from this, due to the increasing prevalence of cancer and the growing number of drug candidates under clinical trials, there is a surge in need for precision medicine methods across the globe. This, in confluence with the significantly improving healthcare infrastructure worldwide and continuous funding in research and development (R&D) activities, is contributing to market growth. Furthermore, leading players are introducing cost-effective, cutting-edge techniques, such as whole-genome sequencing and targeted sequencing, which find extensive applications in the study of genomes and the creation of personalized therapies for treating different illnesses. This, along with the rising adoption of big data in precision medicine that helps analyze the patient electronic health record and provide improved clinical decision support, is creating a favorable market outlook.
IMARC Group provides an analysis of the key trends in each sub-segment of the global precision medicine market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on product, technology, application and end user.
Breakup by Product:
Breakup by Technology:
Breakup by Application:
Breakup by End User:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being AstraZeneca plc, Bayer AG, bioMérieux SA, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche AG, Illumina Inc., Laboratory Corporation of America Holdings, Merck KGaA, Novartis AG, Pfizer Inc., Qiagen N.V., Quest Diagnostics Incorporated and Thermo Fisher Scientific Inc.
|Base Year of the Analysis||2020|
|Segment Coverage||Product, Technology, Application, End User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||AstraZeneca plc, Bayer AG, bioMérieux SA, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche AG, Illumina Inc., Laboratory Corporation of America Holdings, Merck KGaA, Novartis AG, Pfizer Inc., Qiagen N.V., Quest Diagnostics Incorporated and Thermo Fisher Scientific Inc.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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