Global Precision Medicine Market (2020 to 2025) – by Technology, Sequencing Technology, Products, Applications, End-users, Route of Administration and Geography – ResearchAndMarkets.com

Andreas Milano

DUBLIN–(BUSINESS WIRE)–The “Global Precision Medicine Market (2020-2025) by Technology, Sequencing Technology, Products, Applications, End-Users, Route of Administration, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis” report has been added to ResearchAndMarkets.com’s offering. The Global Precision Medicine Market is estimated to be USD 53.5 Bn in 2020 and […]

DUBLIN–(BUSINESS WIRE)–The “Global Precision Medicine Market (2020-2025) by Technology, Sequencing Technology, Products, Applications, End-Users, Route of Administration, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis” report has been added to ResearchAndMarkets.com’s offering.

The Global Precision Medicine Market is estimated to be USD 53.5 Bn in 2020 and is expected to reach USD 92.2 Bn by 2025 growing at a CAGR of 11.5%.

The factors such as patient’s involvement in personal healthcare, development of technologies such as sequencing technologies, increasing genetic diseases, the growing demand for targeted therapies, and integration of big data healthcare companies with pharma & biotech companies are driving the market growth. The increasing population and rising cancer cases in developing countries in the APAC region like India and China are the major factors propelling the growth of the precision medicine market. The current soaring prices of drug discovery along with the increasing regulatory requirements have pushed the demand for an individualized product.

Favorable government initiatives such as the Precision Medicine Initiative (PMI) launched by the National Institute of Health (NIH) in 2015, helped the market to expand.

However, high diagnostic cost, limited knowledge about Precision Medicine Application, potential threat to the personal data, Lack of Robust Reimbursement Landscape, and stringent regulations hinder the growth of the market.

Market Dynamics

Drivers

  • Advancement of Sequencing Technologies
  • Rising Prevalence of Chronic Diseases
  • Growing Demand for Preventive Care
  • Shifting the Significance in Medicine, from Reaction to Prevention
  • Reducing Adverse Drug Reactions through Pharmacogenomics Test
  • Potential to Reduce the Overall Healthcare Cost Across the Globe

Restraints

  • Unified Framework for Data Integration
  • Limited Knowledge about Precision Medicine Application
  • Lack of Robust Reimbursement Landscape
  • Regulatory Hurdles

Opportunities

  • Targeted Gene Therapy
  • Expansion into the Emerging Markets
  • Collaboration and Partnerships across Value Chain Would Accelerate the Market Entry

Challenges

  • High cost of Precision Medicine
  • Violation of the Privacy Rule and Misinterpretation of Genetic and Health Data
  • Reimbursement Challenges

Why buy this report?

  • The report offers a comprehensive evaluation of the Global Precision Medicines Market.
  • The report includes in-depth qualitative analysis, verifiable data from authentic sources and projections about market size. The projections are calculated using proven research methodologies.
  • The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
  • The report includes in-depth market analysis using Porter’s 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
  • The report also contains a competitive analysis using the Competitive Quadrant, a Proprietary competitive positioning tool.

Report Highlights:

  • A complete analysis of the market including parent industry
  • Important market dynamics and trends
  • Market segmentation
  • Historical, current, and projected size of the market based on value and volume
  • Market shares and strategies of key players
  • Recommendations to companies for strengthening their foothold in the market

Companies Mentioned

  • ILLUMINA, INC
  • Thermo Fisher Scientific, Inc
  • Roche Holding Ag (Roche)
  • Laboratory Corporation of America Holdings (LCAH)
  • Quest Diagnostics (QD)
  • QIAGEN N.V.,
  • AstraZeneca
  • Novartis Ag (NAG)
  • Bristol-Myers Squibb (BMS)
  • Eli Lilly & Company (ELC) Omnicell, Inc
  • Pfizer Inc.
  • Medtronic PLC
  • Abbott Laboratories
  • Almac Group Ltd.
  • Amgen Inc.
  • Astellas Pharma Inc.
  • ASURAGEN INC.
  • Bio-Rad Laboratories, Inc.
  • bioMerieux SA
  • Bristol-Myers Squibb Company
  • CETICS Healthcare Technologies GmbH
  • Danaher Corporation
  • F. Hoffmann-La Roche AG

For more information about this report visit https://www.researchandmarkets.com/r/7w7iq6

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