Stay Ahead in Fast-Growing Economies.
Browse Reports Now
Precision Medicine Market – Comprehensive Study Report with Recent Trends 2024-2032
Precision Medicine Market Size Was Valued at USD 29.1 Billion in 2023, and is Projected to Reach USD 77.51 Billion by 2032, Growing at a CAGR of 11.5% From 2024-2032.
IMR Group
Description
Precision Medicine Market Synopsis:
Precision Medicine Market Size Was Valued at USD 29.1 Billion in 2023, and is Projected to Reach USD 77.51 Billion by 2032, Growing at a CAGR of 11.5% From 2024-2032.
Precision medicine is a relatively new concept of delivering personalized healthcare treatments depending on a patient’s genes, surroundings, and activities. It utilises molecular biology facts and personal information of the patients, hence leading to increased treatment success and decreased side effects. The current idea of precision medicine seeks to transform the standard medical practices from only creating a single solution that can work for everyone to consulting for a variety of solutions that can work well for different people.
Market for precision medicine is fast growing due to continued improvement in knowledge and techniques on genomics, biotechnology, and data analysis. Growth in incidence of some diseases like cancer, cardiovascular diseases, and diabetes has led to increased need for precision medicine, which uses exact diagnostics and specific therapeutic management. Also, rising associations between the biotech firms, research institutions and healthcare providers to enhance R&D is also boosting market growth. As governments and various organizations engage into the development and advancements of precision medicine, interest towards investment in such venture is increasing because of better patient outcomes and cost-effective healthcare.
Promising technologies in precision medicine include ENGS, NGS and products like CRISPRs to edit genes and genomic data. It makes possible finer comprehension of the human genome; which has begun to hold fresh promise for disease prognosis and cure. In the same regard, the use of artificial intelligence (AI) and big data analytics in healthcare delivery is on the rise, offering a strong foundation especially for predicting patterns within the accuracy of medicine approaches to complication mitigation.
Precision Medicine Market Trend Analysis:
Integration of Artificial Intelligence in Precision Medicine
AI and machine learning have been applied in precision medicine: the use of pattern-recognition programs to analyse big data to ferret out diseases and their likely response to treatment. Using AI, it will be easier for those in healthcare to evaluate the risks they have for given patients, deliver care depending on such risks, and allow building of efficient procedures that help enhance the experience that patients have in the hospital. Several algorithms, with inputs from genomics, proteomics and health records provide the doctor detailed recommended treatments that suits a certain patient. The prescription tools powered with Artificial Intelligence are also helping in the discovery of the new drugs wherein it identifies the target and optimizes the drug; the discovery is necessary to respond to the continuously increasing demand for personalized medicines.
It is also improving predictive health care. When it comes to cancer or cardiovascular disease, the early-stage development diagnosis is crucial; in this case, AI’s predictive capabilities let care teams recognize patients at higher risk for severe disease outcomes and take advantage of timely safeguards. Consequently, the higher take, allows healthcare institutions deliver proactive precision medicine to more individuals, hence reducing hospitalizations and overall healthcare expenditure.
Rising Focus on Rare Disease Research and Treatment
Precision medicine has lots of potential in the rare disease, a field that has largely suffered from the classical medical model because of inadequate funding and attention. The treatment of the rare diseases always proves a problem because most of the diseases only affect a small fraction of the population and so, the broad enticing market is not available to the developing pharmaceuticals. But here in precision medicine which treats the diseases and focuses on individuals with catchy and different genotypes of rare diseases then a treatment is offered to fit them. This has created the much-needed opportunities for biotech and pharmaceutical companies to bring in a focused kind of treatment that would also come with slightly higher price tags and consequently more value to patients.
Precision Medicine Market Segment Analysis:
Precision Medicine Market is Segmented on the basis of Type, Application, End User, and Region
By Type, Inhibitors segment is expected to dominate the market during the forecast period
In terms of the components, the Inhibitors segment is expected to remain the largest segment in the precision medicine market during the forecast period due to its relevance in the targeted approach that goes directly to certain cellular pathways that are linked with the diseases. Small molecules or compounds that target specific enzymes, receptors or proteins that are operative in diseases pathogenesis are known as inhibitors and are most applicable in symptoms of chronical illnesses such as cancer, cardiovascular diseases as well as auto immune diseases. These therapies are very specific that is beneficial for tailoring treatment strategies and reducing the adverse impact as far as possible while enhancing the impact on the patients. Increased occurrence of chronic diseases notably, along with the development in molecular biology, is boosting the necessity for inhibitors in precision medicine. Furthermore, continuous spendings on researches and technology advances for high potency inhibitors are expected to bolster this segment in the future.
By Application, Oncology segment expected to held the largest share
In the precision medicine market, the Oncology segment is expected to contribute the largest market share because cancer is one of the most prevailing diseases worldwide and there is the need for more effective medicines. The. Optimal individualized therapy for cancer involves customized cancer treatment assessment by means of differential molecular aberrancies in every given patient, to determine the mutations and pathways of cancer in a patient. This allowed to achieve the very high results in terms of increased outcomes in the treatment of patients with different kinds of cancer, decreasing unfavourable effects as well as increasing the rates of survival even in the stages that are characterized by high invasiveness. Thanks to more effective genomic testing, discovering of biomarkers and next generation sequencing, oncology leadership by example in applying precision medicine. It has also been observed that more investment is being poured into cancer research and the vast majority of healthcare systems around the world are implementing precision oncology at a very fast pace and because of that it could easily become the largest segment in the market over the forecast period.
Precision Medicine Market Regional Insights:
North America is Expected to Dominate the Market Over the Forecast period
North America is likely to remain the largest market for precision medicine in 2023, primarily because of improved healthcare system, high funding for biotechnology and great use of innovative healthcare services in this region. Looking at the future, precision medicine market in North America is expected to have market share of more than 40% in total of year 2023 owing to favourable regulations and increased genomics funding. The United States has pioneered precision medicine partnerships with multiple programs spearheaded by the government like the Precision Medicine Initiative led by the National Institutes of Health-NIH. The existence of some well-established Biotechnology companies and numerous research institutions in this area add to its market advantage.
Active Key Players in the Precision Medicine Market:
Abbott Laboratories (United States)
AstraZeneca (United Kingdom)
BioMerieux (France)
Bristol-Myers Squibb (United States)
GE Healthcare (United Kingdom)
Genomic Health (United States)
GlaxoSmithKline (United Kingdom)
IBM Watson Health (United States)
Illumina (United States)
Medtronic (Ireland)
Novartis (Switzerland)
Pfizer (United States)
Qiagen (Germany)
Roche (Switzerland)
Thermo Fisher Scientific (United States)
Other Active Players
Chapter 1: Introduction
1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
3.1 Market Dynamics
3.1.1 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Challenges
3.2 Market Trend Analysis
3.3 PESTLE Analysis
3.4 Porter’s Five Forces Analysis
3.5 Industry Value Chain Analysis
3.6 Ecosystem
3.7 Regulatory Landscape
3.8 Price Trend Analysis
3.9 Patent Analysis
3.10 Technology Evolution
3.11 Investment Pockets
3.12 Import-Export Analysis
Chapter 4: Precision Medicine Market by Type
4.1 Precision Medicine Market Snapshot and Growth Engine
4.2 Precision Medicine Market Overview
4.3 Inhibitors
4.3.1 Introduction and Market Overview
4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.3.3 Key Market Trends, Growth Factors and Opportunities
4.3.4 Inhibitors: Geographic Segmentation Analysis
4.4 Monoclonal Antibodies
4.4.1 Introduction and Market Overview
4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.4.3 Key Market Trends, Growth Factors and Opportunities
4.4.4 Monoclonal Antibodies: Geographic Segmentation Analysis
4.5 Cell
4.5.1 Introduction and Market Overview
4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.5.3 Key Market Trends, Growth Factors and Opportunities
4.5.4 Cell: Geographic Segmentation Analysis
4.6 & Gene Therapy
4.6.1 Introduction and Market Overview
4.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.6.3 Key Market Trends, Growth Factors and Opportunities
4.6.4 & Gene Therapy: Geographic Segmentation Analysis
4.7 Antivirals
4.7.1 Introduction and Market Overview
4.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.7.3 Key Market Trends, Growth Factors and Opportunities
4.7.4 Antivirals: Geographic Segmentation Analysis
4.8 Antiretroviral
4.8.1 Introduction and Market Overview
4.8.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.8.3 Key Market Trends, Growth Factors and Opportunities
4.8.4 Antiretroviral: Geographic Segmentation Analysis
Chapter 5: Precision Medicine Market by Application
5.1 Precision Medicine Market Snapshot and Growth Engine
5.2 Precision Medicine Market Overview
5.3 Oncology
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 Oncology: Geographic Segmentation Analysis
5.4 Rare disease
5.4.1 Introduction and Market Overview
5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.4.3 Key Market Trends, Growth Factors and Opportunities
5.4.4 Rare disease: Geographic Segmentation Analysis
5.5 Hematology
5.5.1 Introduction and Market Overview
5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.5.3 Key Market Trends, Growth Factors and Opportunities
5.5.4 Hematology: Geographic Segmentation Analysis
5.6 Infectious
5.6.1 Introduction and Market Overview
5.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.6.3 Key Market Trends, Growth Factors and Opportunities
5.6.4 Infectious: Geographic Segmentation Analysis
Chapter 6: Precision Medicine Market by End User
6.1 Precision Medicine Market Snapshot and Growth Engine
6.2 Precision Medicine Market Overview
6.3 Hospitals
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.3.3 Key Market Trends, Growth Factors and Opportunities
6.3.4 Hospitals: Geographic Segmentation Analysis
6.4 Clinics
6.4.1 Introduction and Market Overview
6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.4.3 Key Market Trends, Growth Factors and Opportunities
6.4.4 Clinics: Geographic Segmentation Analysis
6.5 Home Care
6.5.1 Introduction and Market Overview
6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.5.3 Key Market Trends, Growth Factors and Opportunities
6.5.4 Home Care: Geographic Segmentation Analysis
Chapter 7: Company Profiles and Competitive Analysis
7.1 Competitive Landscape
7.1.1 Competitive Benchmarking
7.1.2 Precision Medicine Market Share by Manufacturer (2023)
7.1.3 Industry BCG Matrix
7.1.4 Heat Map Analysis
7.1.5 Mergers and Acquisitions
7.2 ABBOTT LABORATORIES (UNITED STATES)
7.2.1 Company Overview
7.2.2 Key Executives
7.2.3 Company Snapshot
7.2.4 Role of the Company in the Market
7.2.5 Sustainability and Social Responsibility
7.2.6 Operating Business Segments
7.2.7 Product Portfolio
7.2.8 Business Performance
7.2.9 Key Strategic Moves and Recent Developments
7.2.10 SWOT Analysis
7.3 ASTRAZENECA (UNITED KINGDOM)
7.4 BIOMERIEUX (FRANCE)
7.5 BRISTOL-MYERS SQUIBB (UNITED STATES)
7.6 GE HEALTHCARE (UNITED KINGDOM)
7.7 GENOMIC HEALTH (UNITED STATES)
7.8 GLAXOSMITHKLINE (UNITED KINGDOM)
7.9 IBM WATSON HEALTH (UNITED STATES)
7.10 ILLUMINA (UNITED STATES)
7.11 MEDTRONIC (IRELAND)
7.12 NOVARTIS (SWITZERLAND)
7.13 PFIZER (UNITED STATES)
7.14 QIAGEN (GERMANY)
7.15 ROCHE (SWITZERLAND)
7.16 THERMO FISHER SCIENTIFIC (UNITED STATES)
7.17 OTHER ACTIVE PLAYERS
Chapter 8: Global Precision Medicine Market By Region
8.1 Overview
8.2. North America Precision Medicine Market
8.2.1 Key Market Trends, Growth Factors and Opportunities
8.2.2 Top Key Companies
8.2.3 Historic and Forecasted Market Size by Segments
8.2.4 Historic and Forecasted Market Size By Type
8.2.4.1 Inhibitors
8.2.4.2 Monoclonal Antibodies
8.2.4.3 Cell
8.2.4.4 & Gene Therapy
8.2.4.5 Antivirals
8.2.4.6 Antiretroviral
8.2.5 Historic and Forecasted Market Size By Application
8.2.5.1 Oncology
8.2.5.2 Rare disease
8.2.5.3 Hematology
8.2.5.4 Infectious
8.2.6 Historic and Forecasted Market Size By End User
8.2.6.1 Hospitals
8.2.6.2 Clinics
8.2.6.3 Home Care
8.2.7 Historic and Forecast Market Size by Country
8.2.7.1 US
8.2.7.2 Canada
8.2.7.3 Mexico
8.3. Eastern Europe Precision Medicine Market
8.3.1 Key Market Trends, Growth Factors and Opportunities
8.3.2 Top Key Companies
8.3.3 Historic and Forecasted Market Size by Segments
8.3.4 Historic and Forecasted Market Size By Type
8.3.4.1 Inhibitors
8.3.4.2 Monoclonal Antibodies
8.3.4.3 Cell
8.3.4.4 & Gene Therapy
8.3.4.5 Antivirals
8.3.4.6 Antiretroviral
8.3.5 Historic and Forecasted Market Size By Application
8.3.5.1 Oncology
8.3.5.2 Rare disease
8.3.5.3 Hematology
8.3.5.4 Infectious
8.3.6 Historic and Forecasted Market Size By End User
8.3.6.1 Hospitals
8.3.6.2 Clinics
8.3.6.3 Home Care
8.3.7 Historic and Forecast Market Size by Country
8.3.7.1 Russia
8.3.7.2 Bulgaria
8.3.7.3 The Czech Republic
8.3.7.4 Hungary
8.3.7.5 Poland
8.3.7.6 Romania
8.3.7.7 Rest of Eastern Europe
8.4. Western Europe Precision Medicine Market
8.4.1 Key Market Trends, Growth Factors and Opportunities
8.4.2 Top Key Companies
8.4.3 Historic and Forecasted Market Size by Segments
8.4.4 Historic and Forecasted Market Size By Type
8.4.4.1 Inhibitors
8.4.4.2 Monoclonal Antibodies
8.4.4.3 Cell
8.4.4.4 & Gene Therapy
8.4.4.5 Antivirals
8.4.4.6 Antiretroviral
8.4.5 Historic and Forecasted Market Size By Application
8.4.5.1 Oncology
8.4.5.2 Rare disease
8.4.5.3 Hematology
8.4.5.4 Infectious
8.4.6 Historic and Forecasted Market Size By End User
8.4.6.1 Hospitals
8.4.6.2 Clinics
8.4.6.3 Home Care
8.4.7 Historic and Forecast Market Size by Country
8.4.7.1 Germany
8.4.7.2 UK
8.4.7.3 France
8.4.7.4 The Netherlands
8.4.7.5 Italy
8.4.7.6 Spain
8.4.7.7 Rest of Western Europe
8.5. Asia Pacific Precision Medicine Market
8.5.1 Key Market Trends, Growth Factors and Opportunities
8.5.2 Top Key Companies
8.5.3 Historic and Forecasted Market Size by Segments
8.5.4 Historic and Forecasted Market Size By Type
8.5.4.1 Inhibitors
8.5.4.2 Monoclonal Antibodies
8.5.4.3 Cell
8.5.4.4 & Gene Therapy
8.5.4.5 Antivirals
8.5.4.6 Antiretroviral
8.5.5 Historic and Forecasted Market Size By Application
8.5.5.1 Oncology
8.5.5.2 Rare disease
8.5.5.3 Hematology
8.5.5.4 Infectious
8.5.6 Historic and Forecasted Market Size By End User
8.5.6.1 Hospitals
8.5.6.2 Clinics
8.5.6.3 Home Care
8.5.7 Historic and Forecast Market Size by Country
8.5.7.1 China
8.5.7.2 India
8.5.7.3 Japan
8.5.7.4 South Korea
8.5.7.5 Malaysia
8.5.7.6 Thailand
8.5.7.7 Vietnam
8.5.7.8 The Philippines
8.5.7.9 Australia
8.5.7.10 New Zealand
8.5.7.11 Rest of APAC
8.6. Middle East & Africa Precision Medicine Market
8.6.1 Key Market Trends, Growth Factors and Opportunities
8.6.2 Top Key Companies
8.6.3 Historic and Forecasted Market Size by Segments
8.6.4 Historic and Forecasted Market Size By Type
8.6.4.1 Inhibitors
8.6.4.2 Monoclonal Antibodies
8.6.4.3 Cell
8.6.4.4 & Gene Therapy
8.6.4.5 Antivirals
8.6.4.6 Antiretroviral
8.6.5 Historic and Forecasted Market Size By Application
8.6.5.1 Oncology
8.6.5.2 Rare disease
8.6.5.3 Hematology
8.6.5.4 Infectious
8.6.6 Historic and Forecasted Market Size By End User
8.6.6.1 Hospitals
8.6.6.2 Clinics
8.6.6.3 Home Care
8.6.7 Historic and Forecast Market Size by Country
8.6.7.1 Turkiye
8.6.7.2 Bahrain
8.6.7.3 Kuwait
8.6.7.4 Saudi Arabia
8.6.7.5 Qatar
8.6.7.6 UAE
8.6.7.7 Israel
8.6.7.8 South Africa
8.7. South America Precision Medicine Market
8.7.1 Key Market Trends, Growth Factors and Opportunities
8.7.2 Top Key Companies
8.7.3 Historic and Forecasted Market Size by Segments
8.7.4 Historic and Forecasted Market Size By Type
8.7.4.1 Inhibitors
8.7.4.2 Monoclonal Antibodies
8.7.4.3 Cell
8.7.4.4 & Gene Therapy
8.7.4.5 Antivirals
8.7.4.6 Antiretroviral
8.7.5 Historic and Forecasted Market Size By Application
8.7.5.1 Oncology
8.7.5.2 Rare disease
8.7.5.3 Hematology
8.7.5.4 Infectious
8.7.6 Historic and Forecasted Market Size By End User
8.7.6.1 Hospitals
8.7.6.2 Clinics
8.7.6.3 Home Care
8.7.7 Historic and Forecast Market Size by Country
8.7.7.1 Brazil
8.7.7.2 Argentina
8.7.7.3 Rest of SA
Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies
Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research
Q1: What would be the forecast period in the Precision Medicine Market research report?
A1: The forecast period in the Precision Medicine Market research report is 2024-2032.
Q2: Who are the key players in the Precision Medicine Market?
A2: Abbott Laboratories (United States), AstraZeneca (United Kingdom), BioMerieux (France), Bristol-Myers Squibb (United States), GE Healthcare (United Kingdom), Genomic Health (United States), GlaxoSmithKline (United Kingdom), IBM Watson Health (United States), Illumina (United States), Medtronic (Ireland), Novartis (Switzerland), Pfizer (United States), Qiagen (Germany), Roche (Switzerland), Thermo Fisher Scientific (United States), and Other Active Players.
Q3: What are the segments of the Precision Medicine Market?
A3: The Precision Medicine Market is segmented into Type, Application, End User and region. By Type, the market is categorized into Inhibitors, Monoclonal Antibodies, Cell, & Gene Therapy, Antivirals, Antiretroviral. By Application, the market is categorized into Oncology, Rare disease, Hematology, Infectious. By End User, the market is categorized into Hospitals, Clinics, Home Care. By region, it is analyzed across North America (U.S., Canada, Mexico), Eastern Europe (Russia, Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe), Western Europe (Germany, UK, France, The Netherlands, Italy, Russia, Spain, Rest of Western Europe), Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC), Middle East & Africa (Turkiye, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa), South America (Brazil, Argentina, Rest of SA).
Q4: What is the Precision Medicine Market?
A4: Precision medicine is a relatively new concept of delivering personalized healthcare treatments depending on a patient’s genes, surroundings, and activities. It utilises molecular biology facts and personal information of the patients, hence leading to increased treatment success and decreased side effects. The current idea of precision medicine seeks to transform the standard medical practices from only creating a single solution that can work for everyone to consulting for a variety of solutions that can work well for different people.
Q5: How big is the Precision Medicine Market?
A5: Precision Medicine Market Size Was Valued at USD 29.1 Billion in 2023, and is Projected to Reach USD 77.51 Billion by 2032, Growing at a CAGR of 11.5% From 2024-2032.
How to Buy a Report from eminsights.jp
On the product page, choose the license you want: Single-User License, Multi-User License or Enterprise License.
If you required report in your native language, then you can click on Translated Report button and fill out the form with report name and language you want, then our team will contact you as soon as possible.
Click the Buy Now button.
You will be redirected to the checkout page. Enter your company details and payment information.
Click Place Order to complete the purchase.
Confirmation: You’ll receive an order confirmation and our team will contact you shortly with your ordered report.
If you have any questions, fill out the contact form below or email us at bizdev@eminsights.net.
Thank you for choosing eminsights.jp!
