MarkNtel Advisors recently published a detailed industry analysis of the Precision Medicine Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.

Precision Medicine Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030

The Precision Medicine Market size was valued at around USD 48.8 Billion in 2023 & is estimated to grow at a CAGR of around 10.6% during the forecast period, i.e., 2024-30.

What are the major Driver the Precision Medicine industry?

Rising Demand for Personalized Therapies to Boost Market Growth – Over the past few years, research by academic institutions, non-profit organizations, etc. has revealed that every individual responds differently to medicine due to genetic, physiological, environmental, and lifestyle factors. According to Stanford Medicine, in 2021, it was revealed that almost 99.5% of individuals have an abnormal or atypical response to at least one therapeutic drug. This variability in medication response slows down the efficacy of the treatments. As a result, healthcare facilities are adopting a personalized therapeutic approach, including tailored treatments based on patient characteristics. These tailored approaches optimize therapeutic outcomes and minimize the risk of adverse drug reactions.

Moreover, these personalized approaches also offer therapies based on the patient's disease analysis, which helps in the early detection of disease risk, identification of high-risk individuals, and implementation of preventive measures. Therefore, individuals are seeking personalized therapies to mitigate disease progression and improve long-term health outcomes, driving the Precision Medicine Market.

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What segments define the Precision Medicine market from 2024 to 2030? How do these segments contribute to market dynamics and growth?

• By Technology
  • Big Data Analytics- Market Size & Forecast 2019-2030F, USD Million
  • Bioinformatics- Market Size & Forecast 2019-2030F, USD Million
  • Whole Genome Sequencing- Market Size & Forecast 2019-2030F, USD Million
  • Companion Diagnostics- Market Size & Forecast 2019-2030F, USD Million
  • Molecular Imaging- Market Size & Forecast 2019-2030F, USD Million
  • Artificial Intelligence- Market Size & Forecast 2019-2030F, USD Million
  • Others (Pharmacogenomics, Genetic Testing, etc.)- Market Size & Forecast 2019-2030F, USD Million

According to report, Based on technology, big data analytics holds a significant share in the Global Precision Market owing to its advantages over other technologies like molecular imaging, whole genome sequencing, and others.

• By Solution Offering
  • Consumables- Market Size & Forecast 2019-2030F, USD Million
    • Reagents- Market Size & Forecast 2019-2030F, USD Million
    • Assay Kits- Market Size & Forecast 2019-2030F, USD Million
  • Instruments- Market Size & Forecast 2019-2030F, USD Million
    • Real-Time PCR Machines- Market Size & Forecast 2019-2030F, USD Million
    • Next-Generation Sequencing (NGS) Systems- Market Size & Forecast 2019-2030F, USD Million
    • Microarray Scanners- Market Size & Forecast 2019-2030F, USD Million
    • Others (Flow Cytometers, Imaging Systems, etc.) - Market Size & Forecast 2019-2030F, USD Million
  • Services- Market Size & Forecast 2019-2030F, USD Million
    • Genetic Testing and Counseling- Market Size & Forecast 2019-2030F, USD Million
    • Pharmacogenomics Testing- Market Size & Forecast 2019-2030F, USD Million
    • Cancer Genomic Profiling- Market Size & Forecast 2019-2030F, USD Million
  • By End User
    • Pharmaceutical & Biotechnology Company- Market Size & Forecast 2019-2030F, USD Million
    • Diagnostic Laboratories- Market Size & Forecast 2019-2030F, USD Million
    • Healthcare IT- Market Size & Forecast 2019-2030F, USD Million
    • Research Centers- Market Size & Forecast 2019-2030F, USD Million
    • Healthcare Providers- Market Size & Forecast 2019-2030F, USD Million
    • Others (Academic Institutes, Non-Profit Organization, etc.)- Market Size & Forecast 2019-2030F, USD Million
  • By Application
    • Oncology- Market Size & Forecast 2019-2030F, USD Million
    • Immunology- Market Size & Forecast 2019-2030F, USD Million
    • Central Nervous System (CNS) - Market Size & Forecast 2019-2030F, USD Million
    • Respiratory- Market Size & Forecast 2019-2030F, USD Million
    • Gastroenterology- Market Size & Forecast 2019-2030F, USD Million
    • Others (Endocrinology, Neurology, etc.)- Market Size & Forecast 2019-2030F, USD Million

According to report, Over the past few years, air pollution has emerged as one of the pivotal environmental problems due to the rapid industrialization of developing economies and surging transportation activities.

Explore the Complete Precision Medicine Market Analysis Report – https://www.marknteladvisors.com/research-library/global-precision-medicine-market.html

Geographical Analysis: Precision Medicine Market

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Precision Medicine Market Share & Competitive Landscape:

The Precision Medicine Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry's leading companies, highlighting their strengths, financial performance, and market influence.

Leading Companies in the Precision Medicine Market are:

• Hoffmann-La Roche Ltd.
• Astra Zeneca
• Qiagen
• Thermo Fisher Scientific Inc.
• Amgen Inc.
• Bayer AG
• Biogen Inc.
• Illumina Inc.
• Medtronic Plc
• Novartis Pharmaceutical Corporation
• Kailos Genetics, LLC.
• C2i Genomics
• Astarte Medical
• PerkinElmer Inc.

Precision Medicine Industry Recent Development:

• 2023: Hoffmann-La Roche Ltd. partnered with Janssen, a pharmaceutical company, to expand a wide range of services, including companion diagnostics, tissue and blood-based biomarkers, sequencing, and digital pathology.

Questions Addressed in this Study

1. What factors are driving the Precision Medicine Market growth?
2. How is the Precision Medicine Market expected to grow over the next five years?
3. What are the key insights into the current trends in the Precision Medicine Market?
4. What is the current size of the Precision Medicine Market, and how is it projected to change in the future?

6.What is the future outlook for the Precision Medicine Market in terms of technological advancements and market expansion?

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Why MarkNtel Advisors?

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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