Precision Medicine Market Size will reach USD 175.64 billion by 2030

According to Precedence Research, during the forecast period of 2022 to 2030, the global precision medicine market is estimated to develop at a compound annual growth rate (CAGR) of 11.5%. The global precision medicine market was valued at USD 66.1 billion in 2021, and it is predicted to exceed USD 175.64 billion by 2030. The study investigates several elements and their consequences on the growth of the precision medicine market.

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Growth Factor

The advent of precision medicine has significantly brought a paradigm shift in the drug delivery and diagnosis of the disease. The proliferation of sequencing methodologies, particularly Next Generation Sequencing (NGS), due to the increasing cost of sequencing and development of the Human Genome Project in the field of genomics is predicted to drive the market. NGS technology provides the data related to the patient’s genetic makeup along with response of drugs on the patient, thereby raising the development of precision medicine for the treatment of diseases. Moreover, NGS combined with Companion Diagnostics (CDx) is analyzed to play a significant role in the advancement of personalized therapeutics and diagnostics over the forecast period. Apart from the benefits offered by the precision medicine, they are highly expensive due to the application of high-end computational methods to examine individual genes projected to hinder the market growth.

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This report focuses on precision medicine market volume and value at the global level, regional level and company level. From a global perspective, this report represents overall precision medicine market size by analysing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, Middle East & Africa, Latin America, etc.

The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Understanding the segments helps in identifying the importance of different factors that aid the market growth.

Report Highlights

• In 2019, North America captured more than 40% of the overall market value share in 2019 and projected to maintain its position in the coming years. Increasing prevalence of cancer along with the presence of key market players in the region expected to be the key factors contributing for the market growth in the region. Furthermore, demand for precision medicine is mainly driven by favorable government initiatives and rising investment for developing novel solutions for effective disease management.
• The Asia Pacific seeks lucrative growth over the forecast period due to low cost clinical trials of newly developed diagnostic products and precision medicine. Furthermore, rising disposable income and rising economy in the developing nations such as India expected to boost the demand of precision medicines in the region.
• By technology, drug discovery registered considerable growth in the recent past and expect to lead the overall market revenue in 2019. Advancement in pharmacogenomics expected to pave the way for significant growth of the drug discovery in the precision medicine.
• Oncology application led the global precision medicine market with significant revenue share in 2019 and analyzed to grow at a prominent rate during the forecast period. Increasing prevalence of cancer across the globe expected to flourish the demand for precision medicine for effective therapeutic approach.
• Based on end-use, pharmaceutical companies dominated the global precision medicine market with prominent revenue share contribution in the year 2019. The growth is mainly attributed to the availability of advanced and innovative techniques including next generation sequencing for identifying the drug related genetic alterations. In addition, major market participants in the precision medicine industry are involved in various investment programs that further escalate the market growth.

In-Depth Analysis on Competitive Landscape

The report sheds light on leading manufacturers of precision medicine, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the production of precision medicine has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolio, key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting market status and predicting the competition level in the precision medicine market.

Some of the prominent players in the precision medicine market include:

• Biocrates Life Sciences
• Tepnel Pharma Services
• Novartis
• Qiagen
• Quest Diagnostics
• Menarini Silicon Biosystems
• NanoString Technologies
• Eagle Genomics
• Pfizer
• Intomics
• Roche
• Teva Pharmaceutical

Segments Covered in the Report

By Technology

• Bioinformatics
• Big Data Analytics
• Drug Discovery
• Gene Sequencing
• Companion Diagnostics
• Others

By Application

• CNS
• Immunology
• Oncology
• Respiratory
• Others

By End-Use

• Diagnostic Companies
• Pharmaceutical Companies
• Healthcare IT companies
• Others

By Sequencing Technology

• Sequencing by Synthesis
• Ion Semiconductor Sequencing
• Sequencing by Ligation
• Pyrosequencing
• Single Molecule Real Time Sequencing
• Chain Termination Sequencing
• Nanopore Sequencing

By Product

• Consumables
• Instruments
• Services

By Route of Administration

• Oral
• Injectable

By Drugs

• Alectinib
• Osimertinib
• Mepolizumab
• Aripiprazole Lauroxil
• Others

Regional Segmentation

• Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
• Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
• North America [United States, Canada, Mexico]
• South America [Brazil, Argentina, Columbia, Chile, Peru]
• Middle East & Africa [GCC, North Africa, South Africa]

Some of the important ones are:

• What can be the best investment choices for venturing into new product and service lines?
• What value propositions should businesses aim at while making new research and development funding?
• Which regulations will be most helpful for stakeholders to boost their supply chain network?
• Which regions might see the demand maturing in certain segments in near future?
• What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
• Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
• Which government regulations might challenge the status of key regional markets?
• How will the emerging political and economic scenario affect opportunities in key growth areas?
• What are some of the value-grab opportunities in various segments?
• What will be the barrier to entry for new players in the market?

Table of Contents

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global Precision Medicine Market, By Technology

7.1. Precision Medicine Market, by Technology Type, 2021-2030
7.1.1. Bioinformatics
7.1.1.1. Market Revenue and Forecast (2019-2030)
7.1.2. Big Data Analytics
7.1.2.1. Market Revenue and Forecast (2019-2030)
7.1.3. Drug Discovery
7.1.3.1. Market Revenue and Forecast (2019-2030)
7.1.4. Gene Sequencing
7.1.4.1. Market Revenue and Forecast (2019-2030)
7.1.5. Companion Diagnostics
7.1.5.1. Market Revenue and Forecast (2019-2030)
7.1.6. Others
7.1.6.1. Market Revenue and Forecast (2019-2030)

Chapter 8. Global Precision Medicine Market, By Application

8.1. Precision Medicine Market, by Application, 2021-2030
8.1.1. CNS
8.1.1.1. Market Revenue and Forecast (2019-2030)
8.1.2. Immunology
8.1.2.1. Market Revenue and Forecast (2019-2030)
8.1.3. Oncology
8.1.3.1. Market Revenue and Forecast (2019-2030)
8.1.4. Respiratory
8.1.4.1. Market Revenue and Forecast (2019-2030)
8.1.5. Others
8.1.5.1. Market Revenue and Forecast (2019-2030)

Chapter 9. Global Precision Medicine Market, By End-Use

9.1. Precision Medicine Market, by End-Use, 2021-2030
9.1.1. Diagnostic Companies
9.1.1.1. Market Revenue and Forecast (2019-2030)
9.1.2. Pharmaceutical Companies
9.1.2.1. Market Revenue and Forecast (2019-2030)
9.1.3. Healthcare IT companies
9.1.3.1. Market Revenue and Forecast (2019-2030)
9.1.4. Others
9.1.4.1. Market Revenue and Forecast (2019-2030)

Chapter 10. Global Precision Medicine Market, Regional Estimates and Trend Forecast

10.1. North America
10.1.1. Market Revenue and Forecast, by Technology (2019-2030)
10.1.2. Market Revenue and Forecast, by Application (2019-2030)
10.1.3. Market Revenue and Forecast, by End-Use (2019-2030)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, by Technology (2019-2030)
10.1.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.1.4.3. Market Revenue and Forecast, by End-Use (2019-2030)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, by Technology (2019-2030)
10.1.5.2. Market Revenue and Forecast, by Application (2019-2030)
10.1.5.3. Market Revenue and Forecast, by End-Use (2019-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Technology (2019-2030)
10.2.2. Market Revenue and Forecast, by Application (2019-2030)
10.2.3. Market Revenue and Forecast, by End-Use (2019-2030)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, by Technology (2019-2030)
10.2.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.2.4.3. Market Revenue and Forecast, by End-Use (2019-2030)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, by Technology (2019-2030)
10.2.5.2. Market Revenue and Forecast, by Application (2019-2030)
10.2.5.3. Market Revenue and Forecast, by End-Use (2019-2030)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, by Technology (2019-2030)
10.2.6.2. Market Revenue and Forecast, by Application (2019-2030)
10.2.6.3. Market Revenue and Forecast, by End-Use (2019-2030)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, by Technology (2019-2030)
10.2.7.2. Market Revenue and Forecast, by Application (2019-2030)
10.2.7.3. Market Revenue and Forecast, by End-Use (2019-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Technology (2019-2030)
10.3.2. Market Revenue and Forecast, by Application (2019-2030)
10.3.3. Market Revenue and Forecast, by End-Use (2019-2030)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, by Technology (2019-2030)
10.3.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.3.4.3. Market Revenue and Forecast, by End-Use (2019-2030)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, by Technology (2019-2030)
10.3.5.2. Market Revenue and Forecast, by Application (2019-2030)
10.3.5.3. Market Revenue and Forecast, by End-Use (2019-2030)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, by Technology (2019-2030)
10.3.6.2. Market Revenue and Forecast, by Application (2019-2030)
10.3.6.3. Market Revenue and Forecast, by End-Use (2019-2030)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, by Technology (2019-2030)
10.3.7.2. Market Revenue and Forecast, by Application (2019-2030)
10.3.7.3. Market Revenue and Forecast, by End-Use (2019-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Technology (2019-2030)
10.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.4.3. Market Revenue and Forecast, by End-Use (2019-2030)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, by Technology (2019-2030)
10.4.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.4.4.3. Market Revenue and Forecast, by End-Use (2019-2030)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, by Technology (2019-2030)
10.4.5.2. Market Revenue and Forecast, by Application (2019-2030)
10.4.5.3. Market Revenue and Forecast, by End-Use (2019-2030)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, by Technology (2019-2030)
10.4.6.2. Market Revenue and Forecast, by Application (2019-2030)
10.4.6.3. Market Revenue and Forecast, by End-Use (2019-2030)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, by Technology (2019-2030)
10.4.7.2. Market Revenue and Forecast, by Application (2019-2030)
10.4.7.3. Market Revenue and Forecast, by End-Use (2019-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Technology (2019-2030)
10.5.2. Market Revenue and Forecast, by Application (2019-2030)
10.5.3. Market Revenue and Forecast, by End-Use (2019-2030)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, by Technology (2019-2030)
10.5.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.5.4.3. Market Revenue and Forecast, by End-Use (2019-2030)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, by Technology (2019-2030)
10.5.5.2. Market Revenue and Forecast, by Application (2019-2030)
10.5.5.3. Market Revenue and Forecast, by End-Use (2019-2030)

Chapter 11. Company Profiles

11.1. Biocrates Life Sciences
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Tepnel Pharma Services
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Novartis
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Qiagen
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Quest Diagnostics
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Menarini Silicon Biosystems
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. NanoString Technologies
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Eagle Genomics
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Pfizer
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Intomics
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
11.11. Roche
11.11.1. Company Overview
11.11.2. Product Offerings
11.11.3. Financial Performance
11.11.4. Recent Initiatives
11.12. Teva Pharmaceutical
11.12.1. Company Overview
11.12.2. Product Offerings
11.12.3. Financial Performance
11.12.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions

Chapter 13. Appendix

13.1. About Us
13.2. Glossary of Terms

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