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Global Precision Medicine Market Report and Forecast 2023-2031
Market Report I 2023-04-06 I 147 Pages I EMR Inc.
Global Precision Medicine Market Report and Forecast 2023-2031
Global Precision Medicine Market Outlook
The global precision medicine market size reached a value of USD 72.4 billion in 2022. The market is anticipated to grow at a CAGR of 12.3% during the forecast period of 2023-2031, reaching a value of USD 205.7 billion by 2031. The growth can be attributed to the increased demand for precision medicine, advancements in sequencing technologies, and the growing application of precision medicine in various fields.
Global Precision Medicine Market: Introduction
The global precision medicine market is experiencing significant growth due to factors such as technological advancements, rising demand for personalized medicine, decreasing sequencing costs, increasing government funding, and the growing application of precision medicine in fields like oncology, clinical diagnostics, agriculture, and forensics. Key trends in the market include the rise of single-cell sequencing, growing adoption of cloud-based solutions, and the increasing use of artificial intelligence and machine learning in data analysis. These drivers have collectively contributed to the rapid expansion of precision medicine technologies, transforming genomic research and enabling more accurate and efficient identification of genetic mutations, disease risk assessment, and personalized treatment plans.
Applications and Uses
Precision medicine has various applications, including genomics, pharmacogenomics, pharmacoproteomic, pharmacometabolomic, and others. These applications enable researchers and clinicians to study genetic variation, gene expression, and epigenetic changes, contributing to a better understanding of diseases and the development of personalized therapies. The growing adoption of precision medicine in clinical diagnostics, drug discovery, and precision medicine is expected to further drive the growth of the market, leading to more innovative applications and a broader impact on global healthcare.
Precision Medicine Market Segmentations
The market can be categorized into technology, product type, application, end user, and major regions:
Market Breakup by Technology
- NGS
- Drug Discovery Technologies
- Bioinformatics
- Others
Market Breakup by Product Type
- Consumables
- Instruments
- Services
Market Breakup by Applications
- Cardiovascular
- Oncology
- Infectious Diseases
- Neurology/Psychiatry
- Gastroenterology
- Endocrinology
- Others
Market Breakup by End User
- Pharmaceutical and Biotechnology Companies
- Diagnostics Companies
- Healthcare IT/Big Data Companies
- Clinical Laboratories
- Others
Market Breakup by Region
- North America
? United States of America
? Canada
- Europe
? United Kingdom
? Germany
? France
? Italy
? Others
- Asia Pacific
? China
? Japan
? India
? ASEAN
? Australia
? Others
- Latin America
? Brazil
? Argentina
? Mexico
? Others
- Middle East and Africa
? Saudi Arabia
? United Arab Emirates
? Nigeria
? South Africa
? Others
Precision Medicine Market Scenario
The global precision medicine market has experienced significant growth in recent years, and this trend is expected to continue in the coming years. Factors such as technological advancements, decreasing sequencing costs, increasing demand for personalized medicine, and growing application of precision medicine in various fields have contributed to the rapid expansion of the market. North America, particularly the United States, holds the largest share of the global precision medicine market due to factors such as the presence of major market players, advanced healthcare infrastructure, and significant government funding. Europe and the Asia-Pacific regions are also expected to experience significant growth in the precision medicine market, driven by increasing research and development activities, growing healthcare expenditures, and rising demand for advanced diagnostic tools.
The global precision medicine market presents vast opportunities for growth and innovation, and it is expected to play a critical role in shaping the future of healthcare by enabling more accurate and efficient genomic research, disease risk assessment, and personalized treatment plans.
Key Players in the Global Precision Medicine Market
The report gives an in-depth analysis of the key players involved in the precision medicine market, including manufacturers of diagnostic tools, therapeutics, and services. The companies included in the market are as follows:
- Siemens Healthcare GmbH
- Janssen Pharmaceutica N.V.
- Quest Diagnostics Incorporated
- F. Hoffmann-La Roche Ltd.
- Myriad Genetics Inc.
- Others
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage - Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Precision Medicine Market Overview
3.1 Global Precision Medicine Market Historical Value (2016-2022)
3.2 Global Precision Medicine Market Forecast Value (2023-2031)
4 Global Precision Medicine Market Landscape
4.1 Global Precision Medicine Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Precision Medicine Product Landscape
4.2.1 Analysis by Product
4.2.2 Analysis by Hygiene
4.2.3 Analysis by Applications
4.2.4 Analysis by End User
5 Global Precision Medicine Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter's Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Precision Medicine Market Segmentation
6.1 Global Precision Medicine Market by Technology
6.1.1 Market Overview
6.1.2 Bioinformatics
6.1.3 Gene Sequencing
6.1.4 Drug Discovery
6.1.5 Precision Molecular Diagnostics
6.1.6 Big Data Analytics
6.2 Global Precision Medicine Market by Application
6.2.1 Market Overview
6.2.2 Diagnostics
6.2.2.1 Gene testing
6.2.2.2 Direct To Consumer (DTC)
6.2.2.3 Esoteric Lab Service
6.2.3 Therapeutics
6.2.3.1 Omics Medicine
6.2.3.2 Pharmaceutical
6.2.4 Healthcare Information Technology
6.2.4.1 Telemedicine
6.2.4.2 Medical Devices
6.2.5 Alternative Medicine
6.2.5.1 Nutrition and Wellness
6.2.5.2 Retail Nutrition
6.3 Global Precision Medicine Market by Therapeutic Areas
6.3.1 Market Overview
6.3.2 Oncology
6.3.3 Central Nervous System
6.3.4 Hematology
6.3.5 Respiratory
6.3.6 Immunology
6.3.7 Others
6.4 Global Precision Medicine Market by End User
6.4.1 Market Overview
6.4.2 Hospitals
6.4.3 Diagnostic Centers
6.4.4 Research & Academic Institutes
6.4.5 Others
6.5 Global Precision Medicine Market by Region
6.5.1 Market Overview
6.5.2 North America
6.5.3 Europe
6.5.4 Asia-Pacific
6.5.5 Latin America
6.5.6 Middle East and Africa
7 North America Precision Medicine Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Precision Medicine Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Precision Medicine Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Precision Medicine Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Precision Medicine Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
16.1.5 Others
17 Supplier Landscape
17.1 Novartis AG
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 Pfizer, Inc.
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 Catalent, Inc.
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 Johnson & Johnson, Inc.
17.4.1 Financial Analysis
17.4.2 Product Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 F. Hoffmann-La Roche AG
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 AstraZeneca Plc
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 GE Healthcare
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 Sanofi
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 Bristol Myers Squibb
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 Amgen, Inc.
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
17.11 Gilead Sciences, Inc.
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisitions
17.11.5 Certifications
17.12 Illumina, Inc.
17.12.1 Financial Analysis
17.12.2 Product Portfolio
17.12.3 Demographic Reach and Achievements
17.12.4 Mergers and Acquisitions
17.12.5 Certifications
17.13 Biotechne Corp.
17.13.1 Financial Analysis
17.13.2 Product Portfolio
17.13.3 Demographic Reach and Achievements
17.13.4 Mergers and Acquisitions
17.13.5 Certifications
17.14 Danaher Corporation
17.14.1 Financial Analysis
17.14.2 Product Portfolio
17.14.3 Demographic Reach and Achievements
17.14.4 Mergers and Acquisitions
17.14.5 Certifications
17.15 Abbott Laboratories
17.15.1 Financial Analysis
17.15.2 Product Portfolio
17.15.3 Demographic Reach and Achievements
17.15.4 Mergers and Acquisitions
17.15.5 Certifications
18 Global Precision Medicine Market - Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
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