Global Market Study on Precision Medicine

Dec 2016| PMR102A| Persistence Market Research

Report Highlights

Precision medicine is an emerging approach to preventive health and for the treatment of disease. The approach allows doctors and physicians to study the individual response to a therapy. The approach studies the individual profile at a genetic level along with their lifestyle and environment. In January 2015, Precision Medicine Initiative (PMI) was announced to extend precision medicine to all diseases with more than one million volunteers. All of The Unified Shared Services Management, a data-driven enterprise supported research at the intersection of environment, lifestyle and genetics to treat disease and prolong health. Targeted cancer therapy, use of combination therapies and knowledge of drug resistance were some of the short term goals. While the long-term goal was to create a cohort of 1 million American volunteers to share genetic data, lifestyle information, biological samples which would be linked to the electronic health record. This would advance pharmacogenomics and lay a scientific foundation for precision medicine for many diseases.

Global Precision Medicine Market Value and Forecast

The global precision medicine market, estimated to be worth around US$ 56 Bn by 2016 end, is expected to expand at an approximate CAGR of 14% over the forecast period of 2016–2024. North America accounted for largest market share and the net average net worth of the market was close to US$ 19 Bn in 2015 and is expected to expand at a CAGR of more than 13.5 % over the forecast period.

Global Precision Medicine Market Dynamics

Factors such as the increasing approval of drug along with its companion diagnostic assay, cost- effective profiling of DNA, increasing incidence rate of cancer and rise of data-driven healthcare are some of the reasons leading to the growth of the precision medicine market. Moreover, the increasing use of “multi-omics” in research along with the penetration of high-throughput sequencing platforms is also shaping up the precision medicine scenario. The number of targeted molecules in pipeline for a specific application has been exponentially growing specifically in oncology.

The current escalating price of drug discovery along with increasing regulatory requirements has increased the demand for an individualized product. The development of companion diagnostics appears to offer a set of tools as well as relevant clinical and biological information to address various pharmaceutical companies. Industry players are now patenting a molecule along with its companion diagnostics to achieve a competitive edge, profit margin and more usage. With the available companion diagnostics, both patient and physicians are assured of the therapy effectiveness.

Global Precision Medicine Market Segmentation Forecast

Based on application, the market has been segmented into multiple layers. Oncology, Immunology, Neurology, Cardiology, Infectious disease and others are some of the crucial streams of application segment. Oncology segment accounts for a significant share in terms of revenue of the total precision medicine market; however, immunology segment is anticipated to witness an impressive CAGR over the forecast period.

precsion medicine market

Global Precision Medicine Market Forecast by Region

Geographically, North America is leading the precision medicine market. The massive investment in the field of precision medicine in US will trigger the growth of the market within the assessment period. Though the funding is for oncology targeted therapy, the research would gradually expand to other applications. North America is at the forefront as far as the acceptance and utilization of precision medicine is concerned. As economically developing regions such as Asia-Pacific are still behind the developed countries, this region has huge potential for market growth, and this region will showcase significant hike by the end of the forecast period.

Key Players Operating in the Global Precision Medicine Market

Some of the players in the global precision medicine market are, F Hoffmann-La Roche AG, Illumina, Inc., Thermo Fisher Scientific Inc., QIAGEN, Quest Diagnostics, Laboratory Corporation of America Holdings, Novartis AG, AstraZeneca, Bristol-Myers Squibb and Eli Lilly And Company. The companies are trying to increase their product pipeline by filing new molecule application or by extending the application of the existing molecule.

Other strategies such as merger and acquisitions, industry academia collaboration to bring in more commercialized molecule or sequencing techniques will also impact the present market trends. The report also identifies company-specific strategies related to product development, market consolidation initiatives and analysis of their specific strengths, weaknesses, opportunities and threats. 

  • Table 1 : Global Precision Medicine Market Size (US$ Mn) Forecast: by Technology, 2016�2024
  • Table 2 : Global Precision Medicine Market Size (US$ Mn) Forecast: by Application, 2016�2024
  • Table 3 : Global Precision Medicine Market Size (US$ Mn) Forecast: by Region, 2016�2024
  • Table 4 : North America Precision Medicine Market Size (US$ Mn) Forecast: by Technology, 2016�2024
  • Table 5 : North America Precision Medicine Market Size (US$ Mn) Forecast: by Application, 2016�2024
  • Table 6 : North America Precision Medicine Market Size (US$ Mn) Forecast: by Country, 2016�2024
  • Table 7 : Europe Precision Medicine Market Size (US$ Mn) Forecast: by Technology, 2016�2024
  • Table 8 : Europe Precision Medicine Market Size (US$ Mn) Forecast: by Application, 2016�2024
  • Table 9 : Europe Precision Medicine Market Size (US$ Mn) Forecast: by Country, 2016�2024
  • Table 10 : Asia Pacific Precision Medicine Market Size (US$ Mn) Forecast: by Technology, 2016�2024
  • Table 11 : Asia Pacific Precision Medicine Market Size (US$ Mn) Forecast: by Application, 2016�2024
  • Table 12 : Asia Pacific Precision Medicine Market Size (US$ Mn) Forecast: by Country, 2016�2024
  • Table 13 : Latin America Precision Medicine Market Size (US$ Mn) Forecast: by Technology, 2016�2024
  • Table 14 : Latin America Precision Medicine Market Size (US$ Mn) Forecast: by Application, 2016�2024
  • Table 15 : Latin America Precision Medicine Market Size (US$ Mn): by Country, 2016�2024
  • Table 16 : Middle East & Africa Precision Medicine Market Size (US$ Mn) Forecast: by Technology, 2016�2024
  • Table 17 : Middle East & Africa Precision Medicine Market Value (US$ Mn) Forecast: by Application, 2016�2024
  • Table 18 : Middle East & Africa Precision Medicine Market Size (US$ Mn) Forecast: by Country, 2016�2024
  • Figure 1 : Global Precision Medicine (US$ Mn) Forecast, 2016-2024
  • Figure 2 : Global Precision Medicine Market, Absolute $ Opportunity (US$ Mn), 2016-2024
  • Figure 3 : Global Precision Medicine Market Value Share Analysis: by Technology, 2016 and 2024
  • Figure 4 : Global NGS Market Value (US$ Mn) and Y-o-Y Growth (%), 2016-2024
  • Figure 5 : Global Drug Discovery Technologies Market Value (US$ Mn) and Y-o-Y Growth (%), 2016-2024
  • Figure 6 : Global Bioinformatics Market Value (US$ Mn) and Y-o-Y Growth (%), 2016-2024
  • Figure 7 : Global Precision Medicine Market Attractiveness Analysis: by Technology
  • Figure 8 : Global Precision Medicine Market Value Share Analysis: by Application, 2016 and 2024
  • Figure 9 : Global Oncology Market Value (US$ Mn) and Y-o-Y Growth (%), 2016-2024
  • Figure 10 : Global Immunology Market Value (US$ Mn) and Y-o-Y Growth (%), 2016-2024
  • Figure 11 : Global Neurology Market Value (US$ Mn) and Y-o-Y Growth (%), 2016-2024
  • Figure 12 : Global Cardiology Market Value (US$ Mn) and Y-o-Y Growth (%), 2016-2024
  • Figure 13 : Global Infectious Disease Market Value (US$ Mn) and Y-o-Y Growth (%), 2016-2024
  • Figure 14 : Global Others Market Value (US$ Mn) and Y-o-Y Growth (%), 2016-2024
  • Figure 15 : Global Precision Medicine Market Attractiveness Analysis: by Application
  • Figure 16 : Global Precision Medicine Market Value Share Analysis, by Region, 2016 and 2024
  • Figure 17 : Global Precision Medicine Market Attractiveness Analysis, by Region
  • Figure 18 : North America Precision Medicine Market Size (US$ Mn) Forecast, 2016-2024
  • Figure 19 : North America Precision Medicine Market Size and Y-o-Y Growth Projections, 2016-2024
  • Figure 20 : North America Precision Medicine Market Attractiveness Analysis, by Country
  • Figure 21 : North America Precision Medicine Market Value Share Analysis, by Technology, 2016 and 2024
  • Figure 22 : North America Precision Medicine Market Value Share Analysis: by Application, 2016 and 2024
  • Figure 23 : North America Precision Medicine Market Value Share Analysis: by Country, 2016 and 2024
  • Figure 24 : The U.S. Precision Medicine Market Size (US$ Mn) Forecast, 2016-2024
  • Figure 25 : The U.S. Precision Medicine Market, Absolute $ Opportunity (US$ Mn), 2016-2024
  • Figure 26 : Canada Precision Medicine Market Size (US$ Mn) Forecast, 2016-2024
  • Figure 27 : Canada Precision Medicine Market, Absolute $ Opportunity (US$ Mn), 2016-2024
  • Figure 28 : North America Precision Medicine Market Attractiveness Analysis: by Technology, 2016-2024
  • Figure 29 : North America Precision Medicine Market Attractiveness Analysis: by Application, 2016-2024
  • Figure 30 : Europe Precision Medicine Market Size (US$ Mn) Forecast, 2016-2024
  • Figure 31 : Europe Precision medicine Y-o-Y Growth Projections, 2016-2024
  • Figure 32 : Europe Market Attractiveness Analysis: by Country
  • Figure 33 : Europe Precision Medicine Market Value Share Analysis: by Technology, 2016 and 2024
  • Figure 34 : Europe Precision Medicine Market Value Share Analysis: by Application, 2016 and 2024
  • Figure 35 : Europe Precision Medicine Market Value Share Analysis: by Country, 2016 and 2024
  • Figure 36 : Germany Precision Medicine Market Size (US$ Mn) Forecast, 2016-2024
  • Figure 37 : Germany Precision Medicine Market, Absolute $ Opportunity (US$ Mn), 2016-2024
  • Figure 38 : The U.K. Precision Medicine Market Size (US$ Mn) Forecast, 2016-2024
  • Figure 39 : The U.K. Precision Medicine Market, Absolute $ Opportunity (US$ Mn), 2016-2024
  • Figure 40 : France Precision Medicine Market Size (US$ Mn) Forecast, 2016-2024
  • Figure 41 : France Precision Medicine Market, Absolute $ Opportunity (US$ Mn), 2016-2024
  • Figure 42 : Italy Precision Medicine Market Size (US$ Mn) Forecast, 2016-2024
  • Figure 43 : Italy Precision Medicine Market, Absolute $ Opportunity (US$ Mn), 2016-2024
  • Figure 44 : Spain Precision Medicine Market Size (US$ Mn) Forecast, 2016-2024
  • Figure 45 : Spain Precision Medicine Market Absolute $ Opportunity (US$ Mn), 2016-2024
  • Figure 46 : Rest of Europe Precision Medicine Market Size (US$ Mn) Forecast, 2016-2024
  • Figure 47 : Rest of Europe Precision Medicine Market, Absolute $ Opportunity (US$ Mn), 2016-2024
  • Figure 48 : Europe Precision Medicine Market Attractiveness Analysis, by Technology Type, 2016-2024
  • Figure 49 : Europe Precision Medicine Market Attractiveness Analysis, by Application, 2016-2024
  • Figure 50 : Asia Pacific Precision Medicine Market Size (US$ Mn) Forecast, 2016-2024
  • Figure 51 : Asia Pacific Precision Medicine Market Size and Y-o-Y Growth Projections, 2016-2024
  • Figure 52 : Asia Pacific Precision Medicine Market Attractiveness Analysis: by Country, 2016-2024
  • Figure 53 : Asia Pacific Precision Medicine Market Value Share Analysis: by Technology, 2016 and 2024
  • Figure 54 : Asia Pacific Precision Medicine Market Value Share Analysis: by Application, 2016 and 2024
  • Figure 55 : China Precision Medicine Market, Absolute $ Opportunity (US$ Mn), 2016-2024
  • Figure 56 : Japan Precision Medicine Market Size (US$ Mn) Forecast, 2016-2024
  • Figure 57 : Japan Precision Medicine Market, Absolute $ Opportunity (US$ Mn), 2016-2024
  • Figure 58 : India Precision Medicine Market Size (US$ Mn) Forecast, 2016-2024
  • Figure 59 : India Precision Medicine Market, Absolute $ Opportunity (US$ Mn), 2016-2024
  • Figure 60 : Australia Precision Medicine Market Size (US$ Mn) Forecast, 2016-2024
  • Figure 61 : Australia Precision Medicine Market, Absolute $ Opportunity (US$ Mn), 2016-2024
  • Figure 62 : New Zealand Precision Medicine Market Size (US$ Mn) Forecast, 2016-2024
  • Figure 63 : New Zealand Precision Medicine Market, Absolute $ Opportunity (US$ Mn), 2016-2024
  • Figure 64 : Rest of APAC Precision Medicine Market Size (US$ Mn) Forecast, 2016-2024
  • Figure 65 : Rest of APAC Precision Medicine Market, Absolute $ Opportunity (US$ Mn), 2016-2024
  • Figure 66 : Asia Pacific Precision Medicine Market Attractiveness Analysis: by Technology, 2016-2024
  • Figure 67 : Asia Pacific Precision Medicine Market Attractiveness Analysis: by Application, 2016-2024
  • Figure 68 : Latin America Precision Medicine Market Size (US$ Mn) Forecast, 2016-2024
  • Figure 69 : Latin America Precision Medicine Market Size and Y-o-Y Growth Projections, 2016-2024
  • Figure 70 : Latin America Market Attractiveness Analysis, by Country
  • Figure 71 : Latin America Precision Medicine Market Value Share Analysis: by Technology, 2016 and 2024
  • Figure 72 : Latin America Precision Medicine Market Value Share Analysis: by Application, 2016 and 2024
  • Figure 73 : Latin America Market Value Share Analysis: by Country, 2016 and 2024
  • Figure 74 : Brazil Precision Medicine Market Size (US$ Mn) Forecast, 2016-2024
  • Figure 75 : Brazil Precision Medicine Market, Absolute $ Opportunity (US$ Mn), 2016-2024
  • Figure 76 : Mexico Precision Medicine Market Size (US$ Mn) Forecast, 2016-2024
  • Figure 77 : Mexico Precision Medicine Market, Absolute $ Opportunity (US$ Mn), 2016-2024
  • Figure 78 : Rest of LATAM Precision Medicine Market Size (US$ Mn) Forecast, 2016-2024
  • Figure 79 : Rest of LATAM Precision Medicine Market, Absolute $ Opportunity (US$ Mn), 2016-2024
  • Figure 80 : Latin America Precision Medicine Market Attractiveness Analysis: by Technology, 2016-2024
  • Figure 81 : Latin America Precision Medicine Market Attractiveness Analysis: by Application, 2016-2024
  • Figure 82 : MEA Precision Medicine Market Size (US$ Mn) and Volume (Units) Forecast, 2016-2024
  • Figure 83 : MEA Precision Medicine Market Size and Y-o-Y Growth Projections, 2016-2024
  • Figure 84 : MEA Precision Medicine Market Attractiveness Analysis, by Country
  • Figure 85 : Middle East & Africa Precision Medicine Market Value Share Analysis: by Technology, 2016 and 2024
  • Figure 86 : Middle East & Africa Precision Medicine Market Value Share Analysis: by Application, 2016 and 2024
  • Figure 87 : MEA Precision Medicine Market Value Share Analysis: by Country, 2016 and 2024
  • Figure 88 : Saudi Arabia Precision Medicine Market Size (US$ Mn) Forecast, 2016-2024
  • Figure 89 : Saudi Arabia Precision Medicine Market, Absolute $ Opportunity (US$ Mn), 2016-2024
  • Figure 90 : UAE Precision Medicine Market Size (US$ Mn) Forecast, 2016-2024
  • Figure 91 : UAE Precision Medicine Market, Absolute $ Opportunity (US$ Mn), 2016-2024
  • Figure 92 : RSA Precision Medicine Market Size (US$ Mn) Forecast, 2016-2024
  • Figure 93 : RSA Precision Medicine Market, Absolute $ Opportunity (US$ Mn), 2016-2024
  • Figure 94 : Rest of MEA Precision Medicine Market Size (US$ Mn) Forecast, 2016-2024
  • Figure 95 : Rest of MEA Precision Medicine Market, Absolute $ Opportunity (US$ Mn), 2016-2024
  • Figure 96 : MEA Precision Medicine Market Attractiveness Analysis, by Technology, 2016-2024
  • Figure 97 : MEA Precision Medicine Market Attractiveness Analysis, by Application, 2016-2024

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