Precision Medicine Market Size (US$ 112.8 Billion), Competitive Analysis, Demand and Growth (CAGR 10.1% ) By 2027

The increasing prevalence of chronic diseases, such as cancer, cardiovascular disease, and diabetes, represents a key factor driving the market growth.

BROOKLYN, NEW YORK, UNITED STATES, February 22, 2023 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “𝐏𝐫𝐞𝐜𝐢𝐬𝐢𝐨𝐧 𝐌𝐞𝐝𝐢𝐜𝐢𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐆𝐥𝐨𝐛𝐚𝐥 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐫𝐞𝐧𝐝𝐬, 𝐒𝐡𝐚𝐫𝐞, 𝐒𝐢𝐳𝐞, 𝐆𝐫𝐨𝐰𝐭𝐡, 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐚𝐧𝐝 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝟐𝟎𝟐𝟐-𝟐𝟎𝟐𝟕”, the global precision medicine market reached a value¹ of US$ 61.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 112.8 Billion by 2027, exhibiting at a CAGR of 10.1% during 2022-2027.

Note: We are in the process of updating our reports. If you want to receive the latest research data covering the period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐅𝐨𝐫 𝐚 𝐅𝐫𝐞𝐞 𝐏𝐃𝐅 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/precision-medicine-market/requestsample

Precision medicine is an approach to healthcare that takes into account an individual's genetic makeup, lifestyle, and environment to develop personalized treatments that are tailored to their unique needs. It utilizes advanced technologies, such as genomics, proteomics, and other molecular techniques to analyze a patient's biological data and identify specific biomarkers that can help guide treatment decisions. By using precision medicine, healthcare professionals can improve patient outcomes and reduce healthcare costs by avoiding unnecessary treatments and minimizing trial-and-error approaches.

𝐏𝐫𝐞𝐜𝐢𝐬𝐢𝐨𝐧 𝐌𝐞𝐝𝐢𝐜𝐢𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

The increasing prevalence of chronic diseases, such as cancer, cardiovascular disease, and diabetes, represents a key factor driving the market growth. In line with this, the rising cost of healthcare is contributing to the growth of the market as personalized treatments have the potential to reduce the overall cost of care by improving outcomes and reducing unnecessary treatments. In addition to this, the market is also driven by the significant advancements in the field of genomics, proteomics, and other omics technologies. Other factors, including the growing demand for targeted therapies and extensive research and development (R&D) activities, along with favorable government initiatives and increasing healthcare budget allocation are creating a positive outlook for the precision medicine market further across the globe.

𝐁𝐮𝐲 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.imarcgroup.com/checkout?id=4567&method=1

Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.

Competitive Landscape with Key Players:

The competitive landscape of the industry has also been examined along with the profiles of the key players:

• AstraZeneca plc
• Bayer AG
• BioMérieux SA
• Bristol-Myers Squibb Company
• Eli Lilly and Company
• Hoffmann-La Roche AG
• Illumina Inc.
• Laboratory Corporation of America Holdings
• Merck KGaA, Novartis AG
• Pfizer Inc.
• Qiagen N.V.
• Quest Diagnostics Incorporated
• Thermo Fisher Scientific Inc.

Key Market Segmentation:

The report has categorized the market based on product, technology, application and end user.

Breakup by Product:
• Consumables
• Instruments
• Services

Breakup by Technology:
• Big Data Analytics
• Bioinformatics
• Gene Sequencing
• Drug Discovery
• Companion Diagnostics
• Others

Breakup by Application:
• Oncology
• Central Nervous System (CNS)
• Immunology
• Respiratory Medicine
• Infections
• Others

Breakup by End User:
• Hospitals and Clinics
• Diagnostic Centers
• Pharma and Biotech Companies
• Healthcare IT Firms
• Others

Breakup by Region:
• North America (United States, 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, South Africa, Others)

𝐀𝐬𝐤 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐟𝐮𝐥𝐥 𝐫𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐓𝐎𝐂 & 𝐋𝐢𝐬𝐭 𝐨𝐟 𝐅𝐢𝐠𝐮𝐫𝐞𝐬: https://www.imarcgroup.com/request?type=report&id=4567&flag=C

Key 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
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Related Reports by IMARC Group:

Portable Medical Ventilators Market Report²

Preclinical CRO Market Report³

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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IMARC Services Private Limited
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¹ https://bit.ly/3ZuVtYL
² https://bit.ly/3v4YGkk
³ https://bit.ly/3HLhGMp