Precision medicine is a growing approach for the treatment of
disease and preventive health. According to MRFR reports, the precision
medicine market will likely hit USD 126.14 billion by the end of 2025, with
a CAGR of 12.48%. The precision medicine
market allows the patient's participation in taking care of personal health and
offers more targeted therapies to the individuals that will propel the
precision medicine market growth in the coming years. The growing prevalence of
numerous genetic diseases is anticipated to boost the growth of the precision
medicine market. The introduction of pharma and biotech industries with big
data healthcare companies is likely to propel precision medicine market growth.
The growth of the Precision Medicine Market is attributed to many
growth drivers like the rise of data-driven healthcare, increasing incidence
rate of cancer, cost-effective profiling of DNA, companion diagnostic assay,
and increasing approval of the drug. Furthermore, the rising use of
'multi-omics' in research and the penetration of high-throughput sequencing
platforms is also likely to fuel the market's growth in a forecasted
period. The present rise in the price of
drug discovery with the rise in regulatory needs has boosted the demand for personalized
medicines, which is offering momentum to market growth. However, the increased
costs of diagnosis and rise in concerns regarding data security might impede
the market's growth.
Competitive Analysis
The list of prominent Precision
Medicine Market Players growth includes the companies like
·
CETICS Healthcare
Technologies GmbH,
·
Cepheid Inc.,
·
bioMérieux SA,
·
Almac Group, Ltd.,
·
GlaxoSmithKline Plc
(GSK),
·
Johnson & Johnson,
·
Pfizer Inc, Qiagen,
·
Randox Laboratories Ltd,
·
Quest Diagnostics Inc.,
·
Roche Holding AG-Br,
·
Caris Life Sciences,
·
HealthCore, Inc.,
·
Molecular Health GmbH,
and
·
Precision for Medicine,
·
IBM,
·
Intel Corporation,
·
Sanofi Pharma,
·
BIOBASE GmbH
(Subsidiary),
·
Intomics A/S,
·
ASURAGEN, Inc.,
·
ABBOTT LABORATORIES,
·
LABORATORY CORPORATION OF
AMERICA HOLDINGS and many others.
Segment Analysis
The global precision medicine market is bifurcated into numerous
segments based on ecosystem players, therapeutics, and submarkets.
·
Based on sub-markets, the classification is done as molecular diagnostics, targeted
therapeutics, pharmacogenomics or PGX, companion diagnostics, biomarker-based
tests, and many more.
·
The global precision
medicine market segmentation based on
therapeutics includes infectious disease, cancer or oncology, central
nervous system, cardiovascular disease or CVD, and others. The ecosystem
players segment includes healthcare IT specialists or big data companies,
clinical laboratories, pharmaceuticals, biotechnology companies, and
diagnostics companies.
Regional Analysis
On the basis of geography, the precision
medicine market is divided into regions like the Middle East, Africa, Europe,
Asia-Pacific, Latin America, and North America. Among all these, the North
American regional market for precision medicines is projected to account for
the largest market share in the forecasted period. The growth of advanced gene
mapping technologies is the major factor boosting the regional market
growth. The European region has been
recorded as the second-largest shareholder in the global precision medicine
market attributed to better electronic health care records, drugs, and
diagnostics tools. For the Asia Pacific region, the Singapore precision
medicine market is likely to register substantial growth mainly due to the
better healthcare infrastructure and increased disposable income.
·
Selvita has confirmed that its
strategic investment has been concluded by acquiring Fidelta. The transaction
completes soon after the very first notice. For a market valuation of €31.2
million plus standard allowance for total capital and corporate capital,
Selvita bought 100 per cent of the shareholders' equity of Fidelta
·
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