Dublin, March 12, 2021 (GLOBE NEWSWIRE) -- The "Global Precision Medicine Market (2020-2025) by Technology, Sequencing Technology, Products, Applications, End-Users, Route of Administration, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Precision Medicine Market is estimated to be USD 53.5 Bn in 2020 and is expected to reach USD 92.2 Bn by 2025 growing at a CAGR of 11.5%.
The factors such as patient's involvement in personal healthcare, development of technologies such as sequencing technologies, increasing genetic diseases, the growing demand for targeted therapies, and integration of big data healthcare companies with pharma & biotech companies are driving the market growth. The increasing population and rising cancer cases in developing countries in the APAC region like India and China are the major factors propelling the growth of the precision medicine market. The current soaring prices of drug discovery along with the increasing regulatory requirements have pushed the demand for an individualized product.
Favorable government initiatives such as the Precision Medicine Initiative (PMI) launched by the National Institute of Health (NIH) in 2015, helped the market to expand.
However, high diagnostic cost, limited knowledge about Precision Medicine Application, potential threat to the personal data, Lack of Robust Reimbursement Landscape, and stringent regulations hinder the growth of the market.
Advancement of Sequencing Technologies
Rising Prevalence of Chronic Diseases
Growing Demand for Preventive Care
Shifting the Significance in Medicine, from Reaction to Prevention
Reducing Adverse Drug Reactions through Pharmacogenomics Test
Potential to Reduce the Overall Healthcare Cost Across the Globe
Unified Framework for Data Integration
Limited Knowledge about Precision Medicine Application
Lack of Robust Reimbursement Landscape
Targeted Gene Therapy
Expansion into the Emerging Markets
Collaboration and Partnerships across Value Chain Would Accelerate the Market Entry
High cost of Precision Medicine
Violation of the Privacy Rule and Misinterpretation of Genetic and Health Data
Based on Technology, The drug discovery market is the fastest-growing segment in the precision medicine market, followed by gene sequencing and companion diagnostics. The growth is attributed to the increasing R&D initiatives by public and private players to develop novel and innovative solutions for the diseases.
Based on Route of Administration, the Oral route is preferred over the various other administration routes due to the many advantages it exhibits. Oral Administration of the medicine has several advantages that include safety, good patient compliance, ease of ingestion, pain avoidance, and versatility to accommodate various types of drugs.
Based on application, the the market has been segmented into Oncology, Central Nervous System, Immunology, Respiratory Medicine, Infections, and others. The oncology segment has a significant share in terms of revenue of the total precision medicine market. However, the immunology segment is expected to witness an impressive CAGR over the forecast period.
Based on End-user, the Pharma & Biotech Companies segment contributes to the major share of the global market. The growth is attributed to the use of innovative technologies in Pharma & Biotech Companies like next-generation sequencing to detect genetic changes linked to the medication. Also, big players in the industry are implementing investment programs to gain substantial market traction.
North America is anticipated to have a large market share and is expected to grow significantly during the forecast period owing to the massive investment in the field of precision medicine in the US. Countries in the Asia Pacific are also expected to grow at an increased incidence of cancer patients, increased acceptance and utilization of precision medicine, and growing awareness in the healthcare sector.
The Global Precision Medicine Market is segmented based on Technology, Sequencing Technology, Products, Applications, End-Users, Route of Administration, and Geography.
Some of the companies covered in this report are F Hoffmann-La Roche AG, Illumina, Inc., Thermo Fisher Scientific Inc., QIAGEN N.V., Quest Diagnostics, Laboratory Corporation of America Holdings, AstraZeneca, Amgen Inc., Almac Group Ltd., Bristol-Myers Squibb and Eli Lilly And Compan and others.
The report includes Infogence Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Lions: Represents companies with a strong foothold in the market, with the highest market share, large investments in technologies, new products.
Bulls: Companies that are medium in size competing with their USPs, growing companies with proven market share.
Rabbits: Small companies but growing rapidly, constantly improving their offerings in the market.
Tortoise: Companies that are slow in growth, having a long legacy, and stable or negative in performance.
Why buy this report?
The report offers a comprehensive evaluation of the Global Precision Medicines Market.
The report includes in-depth qualitative analysis, verifiable data from authentic sources and projections about market size. The projections are calculated using proven research methodologies.
The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
The report includes in-depth market analysis using Porter's 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
The report also contains a competitive analysis using the Competitive Quadrant, a Proprietary competitive positioning tool.
A complete analysis of the market including parent industry
Important market dynamics and trends
Historical, current, and projected size of the market based on value and volume
Market shares and strategies of key players
Recommendations to companies for strengthening their foothold in the market
Key Topics Covered:
1. Report Description
1.1 Study Objectives
1.2 Market Definition
1.4 Years Considered
1.6 Key Shareholders
2. Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.3 Market Size Estimation
2.4 Assumptions of the Study
2.5 Limitations of the Study
3. Executive Summary
4. Market Overview
4.2 Market Dynamics
5. Market Analysis
5.1 Porter's Five Forces Analysis
5.2 Impact of COVID-19
5.3 Ansoff Matrix Analysis
6. Global Precision Medicine Market, By Technology
6.2 Big data analytics genomics
6.4 Gene sequencing
6.5 Drug discovery
6.6 Companion diagnostics
7. Global Precision Medicine Market, By Sequencing Technology
7.2 Sequencing by Synthesis (SBS)
7.3 Ion Semiconductor Sequencing (ISS)
7.4 Sequencing by Ligation (SBL)
7.6 Single Molecule Real Time Sequencing (SMRT)
8. Global Precision Medicine Market, By Products
9. Global Precision Medicine Market, By Applications
9.3 Central Nervous System (CNS)
9.5 Respiratory Medicine
9.7 Other Application
10. Global Precision Medicine Market, By End-Users
10.2 Pharma & Biotech Companies
10.3 Diagnostic Tool Companies
10.4 Healthcare IT/ Big Data Companies
10.5 Clinical Laboratories
11. Global Precision Medicine Market, By Route of Administration
12. Global Precision Medicine Market, By Geography
12.2 North America
12.3 South America
12.4.5 Rest of Europe
12.5.5 Rest of APAC
12.6 Middle East and Africa
13. Competitive Landscape
13.1 Infogence Competitive Quadrant
13.2 Market Share Analysis
13.3 Competitive Scenario
13.3.1 Mergers & Acquisitions
13.3.2 Agreements, Collaborations, & Partnerships
13.3.3 New Product Launches & Enhancements
13.3.4 Investments & Fundings
14. Company Profiles
14.1 ILLUMINA, INC
14.2 Thermo Fisher Scientific, Inc
14.3 Roche Holding Ag (Roche)
14.4 Laboratory Corporation of America Holdings (LCAH)
14.5 Quest Diagnostics (QD)
14.6 QIAGEN N.V.,
14.8 Novartis Ag (NAG)
14.9 Bristol-Myers Squibb (BMS)
14.10 Eli Lilly & Company (ELC) Omnicell, Inc
14.11 Pfizer Inc.
14.12 Medtronic PLC
14.13 Abbott Laboratories
14.14 Almac Group Ltd.
14.15 Amgen Inc.
14.16 Astellas Pharma Inc.
14.17 ASURAGEN INC.
14.18 Bio-Rad Laboratories, Inc.
14.19 bioMerieux SA
14.20 Bristol-Myers Squibb Company
14.21 CETICS Healthcare Technologies GmbH
14.22 Danaher Corporation
14.23 F. Hoffmann-La Roche AG
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