Precision Medicine Market Size to Reach USD 159.77 billion At CAGR of 12.5% by 2023-2032 | MRFR
Research Reports
Sep 12, 2023
Precision medicine represents a paradigm shift in healthcare, offering personalized and targeted treatments based on an individual’s genetic makeup, lifestyle, and environmental factors. This innovative approach has the potential to revolutionize the healthcare industry by improving treatment efficacy, reducing adverse effects, and ultimately enhancing patient outcomes. The Precision Medicine Market is a rapidly evolving sector at the intersection of genomics, data analytics, and healthcare, poised to transform the way diseases are diagnosed and treated.
The precision medicine market size was valued at USD 49.2 billion in 2021 and is projected to grow from USD 55.35 Billion in 2022 to USD 159.77 billion by 2032 , exhibiting a compound annual growth rate (CAGR) of 12.5% during the forecast period (2023 – 2032).
The Global Precision Medicine Market refers to the market for healthcare solutions and technologies that aim to tailor medical treatments and interventions to individual patients based on their unique genetic makeup, lifestyle, and environmental factors. Precision medicine, also known as personalized medicine, involves the use of advanced diagnostic tools, genomic sequencing, data analytics, and targeted therapies to provide precise and effective treatments for various diseases.
Get Free Sample PDF Brochure @ https://www.marketresearchfuture.com/sample_request/925
The pandemic has highlighted the importance of genomics in understanding the virus and its impact on individuals. Genomic sequencing has played a crucial role in tracking the spread of the virus, studying its variants, and identifying potential treatment targets. This increased adoption of genomic sequencing has benefited the precision medicine market, as it has reinforced the significance of personalized approaches in healthcare.
Key Players
Some of the key market players are:
- Abbott Laboratories (USA)
- Ab-Biotics Sa (USA)
- Almac Group Ltd. (UK)
- Asuragen Inc (USA)
- Biobase Gmbh (Germany)
- Biomérieux Sa(France)
- Caris Life Sciences (USA)
- Cepheid Inc. (USA)
- Celtics Healthcare Technologies Gmbh (Germany)
- GE Healthcare (USA)
Market Segmentation
The Global Precision Medicine Market has been segmented into type and application.
Based on the type, the market has been segmented into Pharmaceuticals and Biotechnology Companies, Diagnostic Companies, Healthcare IT Specialists/Big Data Companies and Clinical Laboratories.
Based on the application, the market has been segmented into Companion Diagnostics, Biomarker-Based Test, Targeted Therapeutics, Pharmacogenomics (PGX) and Molecular Diagnostics.
Regional Analysis
North America is currently the largest region in the Global Precision Medicine Market. The United States, in particular, has been a major contributor to the growth of the precision medicine market in North America.
North America has been at the forefront of technological advancements in genomics, molecular diagnostics, and targeted therapies. The region has a robust ecosystem of research institutions, biotechnology companies, and pharmaceutical firms that drive innovation and the development of precision medicine technologies.
The regulatory environment in North America, particularly in the United States, supports the development and commercialization of precision medicine solutions. Regulatory agencies such as the U.S. Food and Drug Administration (FDA) have established frameworks for the approval of companion diagnostics and targeted therapies, facilitating market growth.
Browse In-depth Market Research Report (313 Pages) on Precision Medicine: https://www.marketresearchfuture.com/reports/precision-medicine-market-925
Discover More Research Reports on Healthcare Industry by Market Research Future:
Dental Biomaterials Market Research Report: Information By Type (Metallic Biomaterials, Ceramic Biomaterials, and Polymeric Biomaterials), By Application (Implantology, Prosthodontics, and Orthodontics), By End User (Dental Product Manufacturers, Dental Laboratories, Dental Hospitals and Clinics, and Dental Academies and Research Institutes), and By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032
Digital Diabetes Management Market Research Report Information by Type (Wearable Devices, Handheld Devices), Product & Services (Devices, Digital Diabetes Management Apps, Services), End User (Homecare, Academic & Research Institutes)- Forecast till 2032
Transdermal Drug Delivery Systems Market Research Report Information By Product (Transdermal Patches and Semisolids), By Technology (Electric Current, Iontophoresis, Electroporation, Ultrasound, and Microporation), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2032.
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Follow Us: LinkedIn | Twitter
Contact:
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
Contact Information:
Contact: Market Research Future (Part of Wantstats Research and Media Private Limited) 99 Hudson Street, 5Th Floor New York, NY 10013 United States of America +1 628 258 0071 (US) +44 2035 002 764 (UK) Email: sales@marketresearchfuture.com Website: https://www.marketresearchfuture.com
Tags:
Research Newswire, English