Precision Medicine Market Report 2023-2033 - Expanding Applications of Precision Medicine and Rising Demand for Targeted Therapy

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Dec 18, 2023, 05:00 ET

DUBLIN , Dec. 18, 2023 /PRNewswire/ -- The "Precision Medicine Market Report 2023-2033" report has been added to ResearchAndMarkets.com's offering.

Overall world revenue for the Precision Medicine Market will surpass US$78 billion in 2023, with strong revenue growth forecast through to 2033. This work identifies which organizations hold the greatest potential.

Expanding Applications of Precision Medicine and Rising Demand for Targeted Therapy

With regard to genetic disorders, precision medicine is becoming more prevalent. In the domains of neurogenetics, cardiovascular genomics, and rare illness genetic testing, this method is being employed more frequently. Additionally, non-invasive prenatal testing, pharmacogenomics, and screening genetic risk for hereditary diseases are also becoming more prevalent applications of precision medicine.

A number of pharmaceutical companies are also concentrating on the creation of precision medicine for neurological conditions like Alzheimer's and Parkinson's disease. Pharmacological, biopharmaceutical, and pharmaceutical firms are continuously working to integrate patient-selection diagnostic frameworks into the earlier phases of drug development in order to deliver targeted therapies to the appropriate candidate and support the expansion of the precision medicine market. One of the main causes of the expanding usage of genomes and proteomics technologies as well as precision medicine is the increased understanding of the advantages of personalised medicine. Individualised treatment plans for many chronic diseases and conditions must include precision medicine, which entails the investigation of specific indications for particular medications in a given patient.

High Cost of Precision Medicine

Although personalized treatments are well-established in the pharmaceutical business, their cost continues to prevent payers, patients, and doctors from accessing them. Despite offering guaranteed returns on investment, the high initial cost of these tests makes them inaccessible to a huge majority of end users, particularly those in poor nations

. As a result, end users like pharmaceutical firms, reference labs, medical facilities, and CROs who view the cost of such diagnostic procedures as a burden choose to use third-party precision diagnostic services. Inevitably, current medical privacy and investigation guidelines are inadequate to allow for the collection of enormous amounts of data on large patient populations, and private healthcare systems lack the infrastructure to do so, which drives up the price of precision medicine even more.

Forecasts to 2033 and other analyses reveal commercial prospects

In addition to revenue forecasting to 2033, this new study provides you with recent results, growth rates, and market shares.
You will find original analyses, with business outlooks and developments.
Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising Precision Medicine prices and recent developments.

Segments Covered in the Report

Product

Diagnostic
Genetic Tests
Biomarker Based Tests
Other Diagnostic Tests
Therapeutics

Application

Oncology
CNS
Immunology
Respiratory
Others

Technology

Drug Discovery
Bioinformatics
Big Data Analytics
Gene Sequencing
Companion Diagnostics
Other Technologies

End-user

Hospitals
Diagnostic Centres
Research & Academic Institutes
Other End-users

In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for five regional and 25 leading national markets.

The report also includes profiles and for some of the leading companies in the Precision Medicine Market, with a focus on this segment of these companies' operations.

Leading companies and the potential for market growth

Abbott
Abnova
Agilent Technologies
AstraZeneca
Bayer
Biogen
bioMerieux
Bristol-Myers Squibb
Danaher
F. Hoffmann-La Roche
GE HealthCare
GSK
Illumina.
Johnson & Johnson Services.
Laboratory Corporation of America Holdings
Lilly
Myriad Genetics.
NanoString Technologies.
Novartis
Pfizer
Qiagen
Quest Diagnostics
Teva Pharmaceutical Industries
Thermo Fisher Scientific

In summary, the report provides you with the following knowledge:

Revenue forecasts to 2033 for Precision Medicine Market with forecasts for product, mode, sample, platform, end user, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
Revenue forecasts to 2033 for five regional and 25 key national markets - See forecasts for North America, Europe, Asia-Pacific, Latin America, and MEA. Also forecasted is the market in the US, Canada, Mexico, Brazil, Germany, France, UK, Italy, Spain, Switzerland, Netherlands, China, India, Japan, Australia, South Korea, Singapore, Argentina, GCC, South Africa, and Egypt among other prominent economies.
Prospects for established firms and those seeking to enter the market - including company profiles for 25 of the major companies involved in the Precision Medicine Market

Key Topics Covered:

1 Report Overview

2 Executive Summary

3 Market Overview
3.1 Key Findings
3.2 Market Dynamics
3.2.1 Market Driving Factors
3.2.1.1 Increasing Global Burden of Cancer Boosts the Demand for Personalized Medicine
3.2.1.2 Increase in Scope of Application of Precision Medicine
3.2.1.3 Accelerating Demand for Targeted Therapy
3.2.1.4 Growing Precedence of Precision Medicine Over Traditional Practice of "One-Size-Fits-All" Therapies
3.2.2 Market Restraining Factors
3.2.2.1 High Cost of Precision Medicine
3.2.2.2 Lack of Data Interoperability
3.2.2.3 Insufficient Funding for Diagnostics Space in the Emerging Economies
3.2.3 Market Opportunities
3.2.3.1 Growing Use of AI in Healthcare Is Boosting Demand for Precision Medicine
3.2.3.2 Growing acceptance of gene therapy and gene editing technology
3.3 COVID-19 Impact Analysis
3.4 Porter's Five Forces Analysis
3.5 SWOT Analysis
3.6 PEST Analysis

4 Precision Medicine Market Analysis by Product Type
4.1 Key Findings
4.2 Product Type Segment: Market Attractiveness Index
4.3 Precision Medicine Market Size Estimation and Forecast by Product Type
4.4 Diagnostics
4.5 Therapeutics

5 Precision Medicine Market, by Application, 2023-2033
5.1 Key Findings
5.2 Application Segment: Market Attractiveness Index
5.3 Precision Medicine Market, by Application
5.4 Oncology
5.5 CNS
5.6 Immunology
5.7 Respiratory

6 Precision Medicine Market, by Technology, 2023-2033
6.1 Key Findings
6.2 Technology Segment: Market Attractiveness Index
6.3 Precision Medicine Market Size Estimation and Forecast by Technology
6.4 Drug Discovery
6.5 Bioinformatics
6.6 Big Data Analytics
6.7 Gene Sequencing
6.8 Companion Diagnostics

7 Precision Medicine Market, by End-users, 2023-2033
7.1 Key Findings
7.2 End-users Segment: Market Attractiveness Index
7.3 Precision Medicine Market Size Estimation and Forecast by End-users
7.4 Hospitals
7.5 Diagnostic centres
7.6 Research & Academic Institutes
7.7 Other End-users

8 Precision Medicine Market Analysis by Region

9 North America Precision Medicine Market Analysis

10 Europe Precision Medicine Market, 2023-2033

11 Asia Pacific Precision Medicine Market Analysis

12 Latin America Precision Medicine Market Analysis

13 MEA Precision Medicine Market Analysis

14 Company Profiles

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

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