Global Precision Medicine Market Insights Report Overview

Dive into the latest insights on the Global Precision Medicine Market with our comprehensive report, accurately curated by the experts at MarkNtel Advisors. Our report offers a thorough examination of the global landscape, providing valuable data, impartial analysis, and strategic insights to drive informed decision-making.

Report's Study Period:

• Historical Period: 2019-22
• Base Year: 2023
• Forecasting Period: 2024-30

We accurately gather data from primary and secondary sources, capturing the industry's historical fluctuations and trends, including market dynamics, consumer behavior, manufacturing insights, and more. Leveraging this data alongside the base year information, we project the industry's trajectory into the future.

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Industry Driving Factor:

High Costs Associated with Genomic Sequencing Impedes Market Growth – Hospitals & Diagnostic centers primarily require specific laboratory equipment, reagents, and other components to carry out genome sequencing. This equipment is built on emerging technologies like Big Data Analytics, Machine Learning, etc. to carry out the diagnostic procedures smoothly. However, the amalgamation of technology with medical equipment makes it more complex and adds extra costs. As a result, small-scale nursing homes restrain themselves from opting for these systems, impeding market growth.

Further, a specialized individual is required to conduct the genome sequencing since the procedure requires complete knowledge regarding sequencing reads, identifying genetic variants, and interpreting their clinical significance. Therefore, the unavailability of technical expertise in underdeveloped areas restrains adoption & slows down market growth and expansion.

Segmentation Summary: Global Precision Medicine Market

Our report delves into the intricate segmentation of the Precision Medicine Market, providing insights into each subdivision's trajectory, trends, and advancements. This analysis empowers stakeholders to navigate the industry landscape with precision, understanding the nuances of each segment.

-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.

-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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Leading Competitive: Global 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

Geographical Reach:

The Precision Medicine Industry spans across various regions, each characterized by unique cultural, regulatory, and economic factors. Our regional analysis provides a comprehensive overview and forecast, considering these differences and assessing market players' presence, consumer preferences, and more.

-By Region

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

For inquiries or further discussions, connect with our analyst today to unlock the full potential of the Precision Medicine Industry.

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Key Focus Areas:

• What are the primary drivers and trends influencing the Precision Medicine Industry's growth, and how is the market structured?
• How are segments within the Precision Medicine Industry defined, and what is the size of each segment?
• Which segments and geographical regions present the most promising growth opportunities?
• What does the competitive landscape look like, and how do key players position themselves within the market?

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MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 14.8 diverse industrial verticals.

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