Precision medicine market share, size, structure, demands, challenges and opportunities by 2022-2027 – Instant Interview
According to the latest report of the IMARC group, entitled “Precision medicine market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global market reached a value of US$61.0 billion in 2021. Precision medicine represents a medical approach to prevent and diagnose diseases based on individual variability in genes, environment, lifestyle, etc. It helps to predict disease susceptibility, improve disease detection and progression, personalize strategies, prescribe effective drugs, etc. Precision medicine also helps make related health decisions, improve quality of care, eliminate trial and error inefficiencies, and more. Additionally, by reducing the time, cost, and failure rate of pharmaceutical clinical trials, precision medicine is widely used to guide the treatment of chronic diseases, diagnose cancer and fetal chromosomal abnormalities, predict risk of transmission of genetic diseases to offspring, etc.
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The sudden onset of the COVID-19 pandemic leads to the growing need to study the coronavirus and its susceptibility, impact, potential therapies, etc. This is one of the major factors driving the precision medicine market. Additionally, the increasing prevalence of cancer and the increasing number of drug candidates in clinical trials are further catalyzing the growth of the market. Also, the introduction of many cutting-edge and cost-effective techniques such as whole genome sequencing and targeted sequencing to study genomes and create personalized therapies acts as another important growth driver. Additionally, the growing adoption of big data to analyze electronic health records is expected to drive the precision medicine market in the coming years. Looking ahead, IMARC Group expects the precision medicine market to reach US$112.8 billion by 2027 growing at a CAGR of 10.1% during the period 2022-2027 .
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Like the new coronavirus (COVID-19[feminine]) the crisis is taking over the world, we are constantly monitoring the changes in the markets, as well as the behaviors of the consumers of the sector in the world and our estimates on the latest market trends and forecasts are made after taking into account the impact of this pandemic.
Competitive landscape with key players:
- Astra Zeneca plc
- Bayer AG
- BioMérieux SA
- Bristol-Myers Squibb Company
- Eli Lilly and company
- Hoffmann-La Roche SA
- Illumina Inc.
- Laboratory Corporation of America Holdings
- Merck KGaA, Novartis AG
- Pfizer Inc.
- Qiagen AG
- Quest Diagnostics Incorporated
- Thermo Fisher Scientific Inc.
Breakdown by product:
Breakdown by technology:
- Big data analytics
- Gene sequencing
- drug discovery
- Companion diagnosis
Breakdown by application:
- Central nervous system (CNS)
- respiratory medicine
Breakdown by end user:
- Hospitals and Clinics
- Diagnostic centers
- Pharmaceutical and biotechnology companies
- Healthcare IT companies
Breakdown by region:
- North America (USA, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Main highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market trends
- Market drivers and success factors
- Impact of COVID-19
- Value chain analysis
- Complete mapping of the competitive landscape
If you need specific information that is not currently covered in the report, we will provide it to you as part of the customization.
The IMARC Group is a leading market research firm providing management strategies and market research worldwide. We partner with clients across all industries and geographies to identify their most important opportunities, address their most critical challenges and transform their businesses.
IMARC’s information products include major business, scientific, economic and technological developments for business leaders in pharmaceutical, industrial and high-tech organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverages, travel and tourism, nanotechnology and new processing methods are at the top of the list. company expertise.
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