Precision Medicine Market Gears Up for a 10.6% CAGR Ride in 2024-30

Market Overview: Global Precision Medicine Market

MarkNtel Advisors, a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on the Global Precision Medicine Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.

Precision Medicine Market Insights 2024-30

The Global Precision Medicine Market size is estimated to grow at a CAGR of around 10.6% during the forecast period, i.e., 2024-30.

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Top Players in the Precision Medicine Market:

Hoffmann-La Roche Ltd.
Astra Zeneca
Qiagen
Thermo Fisher Scientific Inc.
Amgen Inc.
Bayer AG
Biogen Inc.
Illumina Inc.
Medtronic Plc
Novartis Pharmaceutical Corporation
Kailos Genetics, LLC.
C2i Genomics
Astarte Medical
PerkinElmer Inc.
Others

Segmentation Analysis of Precision Medicine Market

Precision Medicine Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2024-30, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.

-By Application

Oncology
Immunology
Central Nervous System (CNS)
Respiratory
Gastroenterology
Others (Endocrinology, Neurology, etc.)

Over the past few years, air pollution has emerged as one of the pivotal environmental problems due to the rapid industrialization of developing economies and surging transportation activities. The severe air quality index is resulting in a surge in several health-related issues, primarily respiratory diseases. According to the National Geographic Society, in 2022, nearly 2 million individuals died due to the adverse effects of outdoor air pollution. Therefore, to cure respiratory diseases, there is a requirement for treatments that specifically study the patient’s disease characteristics under different environmental exposures.

In addition, due to differences in disease phenotype, genotype, and comorbidities, the individuals do not respond optimally to existing standard treatments. As a result, precision medicine is needed to address unmet needs, develop targeted therapies, and optimize treatment strategies for respiratory patients. Hence, the share of the respiratory segment is considerably higher in the Global Precision market.

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-By Technology

Big Data Analytics- Market Size & Forecast 2019-2030F, USD Million
Bioinformatics- Market Size & Forecast 2019-2030F, USD Million
Whole Genome Sequencing- Market Size & Forecast 2019-2030F, USD Million
Companion Diagnostics- Market Size & Forecast 2019-2030F, USD Million
Molecular Imaging- Market Size & Forecast 2019-2030F, USD Million
Artificial Intelligence- Market Size & Forecast 2019-2030F, USD Million
Others (Pharmacogenomics, Genetic Testing, etc.)- Market Size & Forecast 2019-2030F, USD Million

-By Solution Offering

Consumables- Market Size & Forecast 2019-2030F, USD Million
Instruments- Market Size & Forecast 2019-2030F, USD Million
Services- Market Size & Forecast 2019-2030F, USD Million

-By End User

Pharmaceutical & Biotechnology Company- Market Size & Forecast 2019-2030F, USD Million
Diagnostic Laboratories- Market Size & Forecast 2019-2030F, USD Million
Healthcare IT- Market Size & Forecast 2019-2030F, USD Million
Research Centers- Market Size & Forecast 2019-2030F, USD Million
Healthcare Providers- Market Size & Forecast 2019-2030F, USD Million
Others (Academic Institutes, Non-Profit Organization, etc.)- Market Size & Forecast 2019-2030F, USD Million

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A Comprehensive Geographical Analysis:

-By Region

North America
South America
Europe
The Middle East & Africa
Asia Pacific

North America has a well-developed healthcare infrastructure with several state-of-the-art hospitals like the Mayo Clinic, Cleveland Clinic, research institutions, and medical centers. Moreover, the governments of countries like the US, Canada, etc. also invested heavily to digitalize the healthcare infrastructure of their countries. As a result, there has been greater adoption of technologies like molecular imaging, artificial intelligence, etc. by the hospital. Subsequently, this is uplifting the demand for precision medicine in the region.

In addition, the region is also the hub of several tech giants, owing to which hospitals and other healthcare facilities have easy access to emerging technologies. This access to cutting-edge technologies, specialized expertise, and comprehensive healthcare services further facilitates the adoption of precision medicine in the region.

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