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 types, application types, and geographical scenarios. 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 build 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 reach because of advances in basic research, including molecular biology, genomics, and bioinformatics.

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

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

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

The major key players profiled in the precision medicine market are based on various characteristics such as business description, financial health, 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 the base year 2015, oncology was observed as the largest market and is expected to maintain its dominance throughout the forecast period of – 2023. The key factors assisting the oncology application market are the rising prevalence of cancers, high public awareness related to 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 breast cancer and other related cancers globally. The key improvements were observed, such as predictive biomarkers in lung cancer therapy that target receptors such as c-ros oncogene one receptor tyrosine kinase (ROS1), epidermal growth factor receptor (EGFR), immune checkpoints, and anaplastic lymphoma kinase (ALK). In oncology, cancer genomics is expected to 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 with a range of comprehensive catalogs of the fundamental genomic changes occurring in several major types and subtypes of cancer and ultimately support future assistance in developing more effective ways to diagnose, treat, and prevent cancer.

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 2015, gene sequencing 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 a large number of government initiatives and research and development programs launched in recent years, accompanied by increasing awareness and demand related to personalized treatment. Genomic information has begun its journey to shape the development and use of some novel oncology treatments. For example, 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 positivity. Thus, gene sequencing and drug discovery technologies were observed as the most significant technology segments in the precision medicine market apart from other sub-segments.

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

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

In 2015, North America was observed as the largest and most potential regional market for precision medicine. North America comprises the regional markets of the U.S. and Canada. The rising prevalence of cancer and the support of the White House are significant drivers for the growth of the North American precision medicine market. In addition, 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 the North American precision medicine market. The 2016 President’s Budget included USD 215 million for the Precision Medicine Initiative, which will pioneer a new model of patient-powered research that will accelerate research and development activities.

Asia Pacific and Europe are expected to be the fastest-growing regional markets for the precision medicine market by 2023. Over the next six years, the market's growth 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 the Asia-Pacific market. In June 2016, BGI and Clearbridge BioMedics partnered to develop the China CTC liquid biopsy market toward precision medicine. The market experts suggest that BGI set 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 scarce cells in clinical samples.

Frequently Asked Questions:

The market for Precision Medicine Market is expected to reach XX Bn in 2023.

The Precision Medicine Market is expected to see significant CAGR growth over the coming years, at XX%.

The report is forecasted from 2016-2023.

The base year of this report is 2015.

Biocrates Life Sciences 51,Nanostring Technologies 52,Tepnel Pharma Services 53,Intomics, Ferrer InCode 54,Abbott Laboratories 55 are some of the major players in the global market.

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Published Date:  Jul 2016
Category:  Pharmaceuticals
Report ID:   58024
Report Format:   PDF
Pages:   120
Rating:    4.3 (50)
Delivery Time: 24 Hours to 48 Hours   
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