Precision Medicine Market By Applications (Oncology, Cardiovascular Diseases, Central Nervous System, Infectious Diseases) - Growth, Share, Opportunities & Competitive Analysis, 2016 - 2023

This report titled precision medicine market studies various technology type, application type and geographical scenario. In July 2016, The White House announced that it is giving out USD 55.0 million to a collection of hospitals and companies to uncover links between a person’s genome and disease and built a genetic database of initially at least 1 million Americans. Market experts suggest that the proposed initiative has two main components: a near-term focus on cancers and a longer-term aim to generate knowledge applicable to the whole range of health and disease. Both components are now within the reach because of advances in basic research, including molecular biology, genomics, and bioinformatics.

For the purpose of this study, the global precision medicine market on the basis of technology type is segmented into companion diagnostics, gene sequencing, drug discovery, big data analytics, bio informatics & 3D printing. Market size estimates and forecast for these segments for the period 2013 to 2022 are provided in terms of USD Mn along with the respective compounded annual growth rates (CAGRs) for the period 2016 to 2022, considering 2015 as the base year.

For the purpose of this study, the global precision medicine market on the basis of application type is segmented into oncology, cardiovascular diseases, central nervous system, infectious diseases & others. Market size estimates and forecast for these segments for the period 2013 to 2022 are provided in terms of USD Mn along with the respective compounded annual growth rates (CAGRs) for the period 2016 to 2022, considering 2015 as the base year.

The precision medicine market has been geographically categorized into major regions such as North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Each geography market is further split to provide market revenue for select countries such as the U.S., Canada, U.K. Germany, China, Japan, Brazil, and GCC countries. Market size and forecast for these segments during 2013 to 2022 and their CAGRs for the period 2016 to 2022 are provided in this report.

The major key players profiled in the precision medicine market are on the basis of various characteristics such as business description, financial health and budget allocation, product portfolio, and news coverage. The key players profiled in this report are Biocrates Life Sciences, Nanostring Technologies, Tepnel Pharma Services, Intomics, Ferrer InCode, Abbott Laboratories, Almac Group, Ltd., bioMérieux SA, Covance, Silicon Biosystems (now part of the Menarini Group), Pfizer, Eagle Genomics, Source Precision Medicine, Inc., Laboratory Corporation of America Holdings, Medtronics, Novartis, Qiagen, Quest Diagnostics, Roche Holding, Teva Pharmaceuticals, and others.

Based on the type of application, the global precision medicine market is segmented as follows:

  • Oncolog
  • Cardiovascular Diseases
  • Central Nervous System
  • Infectious Diseases
  • Others

In base year 2015, oncology was observed as the largest market and is expected to maintain its domination throughout the forecast period 2016 – 2023.The key factors assisting the oncology application market are rising prevalence of cancers, high public awareness related with the early diagnosis of the disease and rising acceptance and demand for novel and premium cancer treatments. Market experts suggest that there have been significant advancements in the area of breast cancer and other related cancers globally. The key advancements were observed such as predictive biomarkers in lung cancer therapy targets receptors such as c-ros oncogene 1 receptor tyrosine kinase (ROS1), Epidermal Growth Factor Receptor (EGFR), Immune Checkpoints, and Anaplastic Lymphoma Kinase (ALK). In the field of oncology, cancer genomics are expected to aim the advance personalized medicine through DNA sequencing and analysis of patient tumors to find new genetic alterations associated with specific cancers. This technology will provide researchers a range of comprehensive catalogs of the key genomic changes occurring in several major types and subtypes of cancer and ultimately support the future assistance in developing more effective ways to diagnose, treat and prevent cancer.

Precision Medicine Market

Based on the type of technology, the global precision medicine market is segmented as follows:

  • Companion Diagnostic
  • Gene Sequencing
  • Drug Discovery
  • Big Data Analytics
  • Bio Informatics
  • 3D Printing

In base year 2015, gene squencing was observed as the largest market segment due to its high potential to improve patient care by providing vital information to physicians such as disease risk prediction, diagnoses and medical treatment plans. Gene sequencing is expected to develop and contribute towards an era of precision medicine where we will require an accurate account of each patient’s genetic code. The overall market growth of precision medicine is gaining pace due to large number of government initiatives and research & development programs have been launched in the recent years accompanied by increasing awareness and demand related to personalized treatment. Genomic information has initiated its journey to shape the development and use of some of the novel oncology treatments. For example, the drug imatinib (Gleevec) has been designed to inhibit an altered enzyme produced by a fused version of two genes found in chronic myelogenous leukemia. Another example is the breast cancer drug trastuzumab (Herceptin), which works only for women whose tumors have a particular genetic profile called HER-2 positive. Thus, apart from other sub-segments gene sequencing and drug discovery technologies were observed as the largest technology segments in precision medicine market.

Precision Medicine Market

For the purpose of this study, the global precision medicine market is categorized into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America (LATAM)
  • Middle East and Africa (MEA)

Precision Medicine Market

In base year 2015, North America was observed as the largest and most potential regional market for precision medicine. North America constitutes regional markets of U.S. and Canada, the rising prevalence of cancer and support of White House are the major drivers for the growth of North America precision medicine market. The developed healthcare infrastructure, high public awareness related to cancer diagnosis and treatment, and rising research and development activities related to precision medicine are the key factors assisting the growth of North America precision medicine market. For year 2016 President’s Budget included USD 215 million for precision medicine initiative as it will pioneer a new model of patient powered research that will accelerate the research and development activities. Asia Pacific & Europe are the expected to be the fastest growing regional markets for precision medicine market by 2023. Over the next six years, the growth of the market in the Asia-Pacific region is likely to be centered in China and Japan. Several factors such as initiatives from the government and contributions from academic laboratories are expected to assist the growth of Asia Pacific market. In June 2016, BGI and Clearbridge BioMedics partner to develop China CTC liquid biopsy market towards precision medicine. The market experts suggest that BGI is setting up a dedicated team to ensure this trans-omics science and technology is effectively translated into precision medicine. This team will provide an innovative end-to-end solution for omics analysis or genetic profiling at the single cell level from extremely rare cells in clinical samples.

Choose License Type
Related Report

Published Date:  Jul 2016
Category:  Pharmaceuticals
Report ID:   58024
Report Format:   PDF
Pages:   120
Rating:    4.3 (50)
Connect With Us
24/7 Research Support