Double Digit Growth Anticipated for Precision Medicine Market with Revenues likely to Reach US$1.86
The demand for Precision Medicine Market 2019 is anticipated to be high for the next few years. By considering this demand we provide latest Precision Medicine Market Report which gives complete industry analysis, market outlook, size, growth and forecast till 2023. This report will assist in analyzing the current and future business trends, sales and revenue forecasts.
Global Precision Medicine Market Synopsis:
The global precision medicine market has benefitted greatly from advancements in the life science industry. Although in its nascent stage, targeted therapies hold high chances of becoming a massive success in the coming years because of the potential to treat and cure chronic illnesses. The market is thus expected to expand at a compound annual growth rate (CAGR) of 11.60% between 2018 and 2023, generating USD 88.25 Bn in revenue by 2023.
The Global “Precision Medicine Market” research 2019 highlights the major details and provides in-depth analysis of the market along with the future growth, prospects and Industry demands analysis explores with the help of complete report with 90 Pages, figures, graphs and table of contents to analyze the situations of global Precision Medicine Market and Assessment to 2023.
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Diagnostic companies held the largest share of the market in 2018, contributing to approximately 39% of the global revenues. They are expected to continue dominating the market during the assessment period, owing to the dominant role that precision medicine plays in diagnosing potential diseases. Pharmaceutical companies are next in line to dominate the market, accounting for a market share of 29% in 2018 due to the increasing efforts put in research and development for developing drugs.
Therapeutic segment insights
Among the therapeutic areas of precision medicine, cancer held the largest share of the market by generating almost 33% of the global market revenue in 2018. Development of targeted novel therapies and precision medicines for treating cancer, owing to its increasing prevalence worldwide, will drive its growth in the foreseeable future. Central nervous system (CNS) disorders and infectious diseases held market shares of 20% and 16%, respectively. The precision medicine market for respiratory diseases is foreseen to grow at a very high rate, owing to the growth of diseases such as asthma, chronic obstructive pulmonary disease (COPD), idiopathic pulmonary fibrosis, etc.
Technology segment insights
Pharmacogenomics held the largest market share (24%) in 2018, followed by genomics. The technological and analytical developments in genomics have made it easier to identify and interpret the genetic variation underlying a disease, thereby contributing to the rapid growth of genomics. The market for genomics is also projected to expand at the highest CAGR of 13.67% during 20182023. Big data analytics is also expected to show fast growth during the forecast period.
North America leads the global precision medicine market with a share of 43%, followed by Europe with a 26% share. These regions are primarily driven by supportive policies and initiatives by the government, a strong presence of market players, and quick adoption of advanced healthcare technology and practices. Asia-Pacific is expected to emerge as the fastest growing region in this market with the highest CAGR of 13% during the forecast period.
Major Players profiled in the Precision Medicine Market report incorporate: Abbott Laboratories, GE Healthcare, GlaxoSmithKline (GSK), Johnson & Johnson, Pfizer, Randox Laboratories, Almac Group, Novartis AG, Teva Pharmaceutical industries, Quest Diagnostics
Latest Industry News
GlaxoSmithKline plc today announced a five-year collaboration with the University of California to establish a state-of-the-art laboratory for CRISPR technologies, the Laboratory for Genomics Research (LGR). The new laboratory will explore how gene mutations cause disease and develop new technologies using CRISPR to rapidly accelerate the discovery of new medicines.
Region segment: This report is segmented into several key regions, with sales, revenue, market share (%) and growth Rate (%) of Precision Medicine in these regions, from 2014 to 2023 (forecast), covering: North America, Europe, Asia Pacific, Middle East & Africa and South America.
Purchase this report online with 90 Pages, List of Tables & Figures and in-depth Table of Contents on “Global Precision Medicine Market Report 2019” @ https://www.businessindustryreports.com/buy-now/174384/single .
Significant points in table of contents: Market Definition, Market Overview, Business Introduction, Segmentation (Region Level), Segmentation (Type Level), Segmentation (Industry Level), Segmentation (Channel Level), Market Forecast Year, Segmentation Type, Segmentation Industry, Market Cost Analysis, and Conclusion.
Report contents include
1 Analysis of the Precision Medicine Market including revenues, future growth, market outlook
2 Historical data and forecast
3 Regional analysis including growth estimates
4 Analyzes the end user markets including growth estimates.
5 Profiles on Precision Medicine Market including products, sales/revenues, and market position
6 Market structure, market drivers and restraints.
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