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Precision Medicine Market Report 2022-2032

·7-min read

Forecasts by Product Type (Diagnostics (Genetic Tests, Biomarker-based Tests, Others), Therapeutics), by Application (Oncology, CNS, Immunology, Respiratory, Others), by End-user (Hospitals, Diagnostic Centres, Research & Academic Institutes, Others) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Recovery Scenarios

New York, July 11, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Precision Medicine Market Report 2022-2032" -

The Precision Medicine Market Report 2022-2032: This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. It will be useful for companies that would like to expand into different industries or to expand their existing operations in a new region.

Global Burden of Cancer, Rising Demand for Targeted Therapy, And Growing Precedence of Precision Medicine Are Driving the Market Growth

Some of the major forces propelling the global precision medicine market include increasing global burden of cancer, rising demand for targeted therapy, and growing precedence of precision medicine. According to Cancer Research UK, an estimated 23.6 million new cases of cancer will be reported in 2030 worldwide which can be attributed to factors such as population growth and rise in geriatric population. Based on these statistics, basic and translational cancer research continues to be of utmost importance.

A better understanding of the genetic characteristics or biomarkers of an individual can promote the practice or administering the right drug, at the right time, at the right dose, for the right person. Implementation of patient-selection diagnostic set-up in the earlier phases of drug development has been the core objective of pharmacological, pharmaceutical and biopharmaceutical firms for which significant efforts are being put so that targeted therapies are delivered to the right candidate which further supplements the growth of the precision medicine market. Furthermore, the increase in scope of application of precision medicine is expected to propel market growth. Precision medicine have numerous application areas, which includes oncology, central nervous system (CNS), immunology, respiratory and other diseases. Several studies are exploring the possibilities of developing diagnostic tests and therapeutics for other cancer indications, such as prostate cancer, ovarian cancer, and leukaemia. New entrants have identified this opportunity to venture into the market by developing tests for rare indications, such as ovarian cancer.

High Cost of Precision Medicine and Insufficient Funding For Diagnostics Space in Developing Countries Can Thwart the Market Growth

Precision medicine may be well-established in pharma industry, however overwhelming cost hinder its reach to payers, patients, and physicians. This high initial cost puts these tests and therapies out of reach of a large portion of end users particularly those in developing countries despite of its benefits and assured returns on investment.

The lack of data interoperability is another key barrier in achieving precision medicines to its full potential. Without international data standards on genomic data, it is not possible to integrate data on genetic markers into patient records that would help researchers to understand why particular set of population is particularly susceptible to a decease. Also, diagnostics has always been perceived as a small step in a healthcare program, and insufficient funding in this space particularly in emerging economies further impedes the market growth.

What Questions Should You Ask before Buying a Market Research Report?
• How is the Precision Medicine market evolving?
• What is driving and restraining the Precision Medicine market?
• How will each Precision Medicine submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2032?
• How will the market shares for each Precision Medicine submarket develop from 2022 to 2032?
• What will be the main driver for the overall market from 2022 to 2032?
• Will leading Precision Medicine markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
• How will the market shares of the national markets change by 2032 and which geographical region will lead the market in 2032?
• Who are the leading players and what are their prospects over the forecast period?
• What is the Precision Medicine projects for these leading companies?
• How will the industry evolve during the period between 2020 and 2032? What are the implications of Precision Medicine projects taking place now and over the next 10 years?
• Is there a greater need for product commercialisation to further scale the Precision Medicine market?
• Where is the Precision Medicine market heading and how can you ensure you are at the forefront of the market?
• What are the best investment options for new product and service lines?
• What are the key prospects for moving companies into a new growth path and C-suite?

You need to discover how this will impact the Precision Medicine market today, and over the next 10 years:
• Our 441-page report provides 267 tables and 411 charts/graphs exclusively to you.
• The report highlights key lucrative areas in the industry so you can target them – NOW.
• It contains in-depth analysis of global, regional and national sales and growth.
• It highlights for you the key successful trends, changes and revenue projections made by your competitors.

This report tells you TODAY how the Precision Medicine market will develop in the next 10 years, and in line with the variations in COVID-19 economic recession and bounce. This market is more critical now than at any point over the last 10 years.

Forecasts to 2032 and other analyses reveal commercial prospects
• In addition to revenue forecasting to 2032, our new study provides you with recent results, growth rates, and market shares.
• You will find original analyses, with business outlooks and developments.
• Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising Precision Medicine prices and recent developments.

This report includes data analysis and invaluable insight into how COVID-19 will affect the industry and your company. Four COVID-19 recovery patterns and their impact, namely, “V”, “L”, “W” and “U” are discussed in this report.

Segments Covered in the Report

By Product Type
• Diagnostics
– Genetic tests
– Biomarker based tests
– Others
• Therapeutics

By Application
• Oncology
• Immunology
• Respiratory
• Others

By End User
• Hospitals
• Diagnostic centres
• Research & academic institutes
• Other end-users

In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for four regional and 20 leading national markets:

North America
• U.S.
• Canada
• Mexico

• Germany
• Spain
• United Kingdom
• France
• Italy
• Switzerland
• Rest of Europe

Asia Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

• Brazil
• Mexico
• Saudi Arabia
• Rest of Latin America

The report also includes profiles and for some of the leading companies in the Precision Medicine Market, 2022 to 2032, with a focus on this segment of these companies’ operations.

Leading companies and the potential for market growth
• Abbott Laboratories
• Abnova Corporation
• Agilent Technologies
• AstraZeneca
• BioMérieux SA
• Eli Lilly & Company
• F Hoffmann-La Roche AG
• GlaxoSmithKline Plc
• Illumina
• Myriad Genetics Inc.
• Novartis AG
• Pfizer Inc.
• Qiagen Inc.
• Quest Diagnostics Inc.
• Thermo Fisher Scientific, Inc.

Overall world revenue for Precision Medicine Market, 2022 to 2032 in terms of value the market will surpass US$63,333 million in 2021, our work calculates. We predict strong revenue growth through to 2032. Our work identifies which organizations hold the greatest potential. Discover their capabilities, progress, and commercial prospects, helping you stay ahead.

How will the Precision Medicine Market, 2022 to 2032 report help you?

In summary, our 440+ page report provides you with the following knowledge:
• Revenue forecasts to 2032 for Precision Medicine Market, 2022 to 2032 Market, with forecasts for product type, application, and end user and at a global and regional level – discover the industry’s prospects, finding the most lucrative places for investments and revenues.
• Revenue forecasts to 2032 for four regional and 14 key national markets – See forecasts for the Precision Medicine Market, 2022 to 2032 market in North America, Europe, Asia-Pacific and LAMEA. Also forecasted is the market in the US, Canada, Mexico, Brazil, Germany, France, UK, Italy, China, India, and Japan among other prominent economies.
• Prospects for established firms and those seeking to enter the market – including company profiles for 20 of the major companies involved in the Precision Medicine Market, 2022 to 2032.

Find quantitative and qualitative analyses with independent predictions. Receive information that only our report contains, staying informed with invaluable business intelligence.

Information found nowhere else

With our new report, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Visiongain’s study is for everybody needing commercial analyses for the Precision Medicine Market, 2022 to 2032, market-leading companies. You will find data, trends and predictions.

Read the full report:

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