Global Precision Medicine Market to Reach $216.75 Bn by 2028

Monday 4 February 2019, Amsterdam

Precision medicine has significantly positioned itself as the hotspot of mainstream medicine. With aggressive technological developments, such as next-generation sequencing and fierce competition in the field of targeted molecular therapy, precision medicine portrays itself as a sophisticated medical care model while simultaneously opening avenues for public health care. However, despite its proven potential, the technology is still in its infancy and needs to evolve while overcoming many deficiencies and challenges.

On the other hand, immense expectations are associated with precision medicine in terms of its capability to define Diseases, based on molecular characteristics and environmental susceptibility factors. The fulfilment of those expectations need pre-requisites such as the construction of a novel data network, integration of clinical data from patients, and further expansion of research aimed at finding the molecular makeup of diseases. Also, multi-omics analysis and cross-industry collaborations will be instrumental at realizing the benefits of precision medicine with its fullest potential. To, bolster precision medicine, genomic sequencing is of utmost importance, and since 2003 (after the completion of Human Genome Project), genomic sequencing has attained great strides in terms of both cost and time. This genome sequencing technology is so advanced now that a single genome can be sequenced under $1000 within a day. The cost has plummeted to approximately three million times and the time taken for the process has reduced 3,000 times since the first genome was ever sequenced.

According to the new report, titled 'Global Precision Medicine Market: Analysis and Forecast (2018-2028)’, the global precision medicine market is anticipated to reach $216.75 billion by 2028, witnessing a CAGR of 10.64% in the forecast period 2018-2028. Some of the factors such as the emergence of liquid biopsy, increasing demand for multiplex assays to target emerging diseases, reduced adverse drug reactions through pharmacogenomics testing, and increasing focus on target-based therapies are acting as significant factors propelling the growth of the global precision medicine market.

Few Companies Mentioned in the Report:
• Abbott Laboratories
• Almac Group Ltd.
• Amgen Inc.
• ANGLE plc
• Astellas Pharma Inc.
• Astra Zeneca PLC
• ASURAGEN INC.
• Bio-Rad Laboratories, Inc.
• bioMerieux SA.
• Bristol-Myers Squibb Company
• Canon Inc.
• CETICS Healthcare Technologies GmbH
• Danaher Corporation
• Eli Lilly and Company Limited
• Epic Sciences, Inc.
• F. Hoffmann-La Roche AG
• GE Corporation
• Gilead Sciences, Inc.
• GlaxoSmithKline Plc
• IBM Corporation
• Illumina, Inc.
• Intomics A/S
• Johnson & Johnson
• Konica Minolta, Inc.
• Laboratory Corporation of America
• MDxHealth, Inc.
• Menarini Silicon Biosystems, Inc.
• Merck & Co., Inc.
• Myriad Genetics, Inc.
• Novartis AG
• Oracle Corporation
• Pacific Biosciences of California, Inc.
• Partek, Inc.
• Pfizer, Inc.
• QIAGEN N.V
• Quest Diagnostics Inc.
• Randox Laboratories Ltd.
• Sanofi SA
• Sysmex Corporation
• Teva Pharmaceuticals Industries Ltd.
• Thermo Fisher Scientific, Inc.
• TrovaGene, Inc.

Key Questions Addressed in the Report:
• What are the major market drivers, challenges, and opportunities in the global precision medicine market?
• What are the underlying structures resulting in the emerging trends within the precision medicine market?
• What was the market value of the leading segments and sub-segments of the global precision medicine market in 2017?
• How will each segment of the global precision medicine market grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2028?
• What are the influencing factors that may affect the market share of the key players?
• How will the industry evolve during the forecast period 2018- 2028?
• What are the key developmental strategies which are implemented by the key players to sustain in the competitive market?
• What are the key ecosystem type in the global precision medicine market? What are the major benefits of each type?
• How has the market been segmented on the basis of application type? Which application type is dominating the global precision medicine market and what is the reason behind such domination?
• Which ecosystem type is having the most promising growth and in which application type?
• What is the market share of each of the companies in the global precision medicine market and what are their contributions?
• What is the scope of each type of ecosystem in North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World?
• What is the growth potential of precision medicine in each region, including North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World?
• How many countries are covered in each geographical region? Which country is currently dominating the precision medicine market?