A New Era of Healthcare: Global Precision Medicine Trends and Forecasts 2023-2027

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Oct 31, 2023, 13:30 ET

DUBLIN, Oct. 31, 2023 /PRNewswire/ -- The "Global Precision Medicine Business Investment Opportunities" report is now available at ResearchAndMarkets.com. This report furnishes a data-centric perspective on the burgeoning precision medicine industry, emphasizing its potential, growth trajectory, and influential trends.

Precision medicine is redefining healthcare, equipping medical professionals with tools to predict disease risk, make accurate diagnoses, and devise customized treatment plans. The report underscores that its application is not just a North American phenomenon. For instance, global initiatives such as the UK Biobank and BioBank Japan echo the paradigm shift towards precision medicine.

While the allure of AI and precision medicine is palpable, challenges remain, particularly in data harmonization and meeting regulatory, privacy, and sociocultural mandates.

Key Highlights:

Precision Medicine market is projected to grow at a CAGR of 11.3% from 2023 to 2027, reaching a valuation of US$126.481 billion by 2027.
Increasing prevalence of chronic diseases, demand for personalized medicine, and technological breakthroughs are driving this growth.
The oncology segment is predicted to command the largest market share, powered by precision medicine's transformative role in cancer treatment.
Big data analytics, notably the tool developed by the University of Michigan Rogel Cancer Center, are revolutionizing the precision medicine landscape.
Collaborations and acquisitions, such as the partnership between Kaiku Health and Novartis and the acquisition by Stalicla, underline industry dynamism.

Spotlight on Market Dynamics:

Invitae has obtained commercial coverage approval from Blue Shield of California for its Personalized Cancer Monitoring (PCMT) assay, marking a significant development in post-surgical cancer treatment monitoring.
Invitae and Epic have joined forces. Leveraging Epic's diagnostic suite, Aura, the collaboration will expedite the provision of genetic insights to inform treatment decisions within the Epic ecosystem.
Stalicla has acquired rights from Novartis to develop the drug mavoglurant, earmarked for substance use and neurodevelopmental disorders.

Deep Dive into Research Initiatives:

Recent introductions to the research landscape include the IGNITE program, championing the integration of genomic studies in clinical practice, and CSER-2, funded by the NHGRI and NCI, to embed genomic sequencing in clinical settings.

Precision Medicine: Segmented Analysis

The report segments the precision medicine market across various parameters, from technology platform, drug types, and sequencing technology to end-users. These insights encompass market share analyses by region, covering North America, Europe, Asia-Pacific, and more, and by key players in the industry, such as Bayer AG, BioNTech SE, and Moderna, Inc.

The report's design offers clarity, categorizing the insights into six modules: Investment Landscape, Clinical Trial Data, Patent Data Analysis, Competitive Landscape, Market Size and Forecast, and Regulatory Outlook.

Potential stakeholders will gain an in-depth understanding of market dynamics, competitive landscapes, clinical trials, precision medicine patents, financial deals, and strategic insights.

For more information about this report visit https://www.researchandmarkets.com/r/kvrvl7

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SOURCE Research and Markets