DUBLIN, Feb. 6, 2019 /PRNewswire/ —
The “Global Precision Medicine Market: Focus on Precision Medicine Ecosystem, Applications, 13 Countries Mapping, and Competitive Landscape – Analysis and Forecast: 2018-2028” report has been added to ResearchAndMarkets.com’s offering.
The global precision medicine market is anticipated to reach $216.75 billion by 2028, witnessing a CAGR of 10.64% in the forecast period 2018-2028.
Precision medicine has significantly positioned itself as the hotspot of mainstream medicine. With aggressive technological developments, such as next-generation sequencing and fierce competition in the field of targeted molecular therapy, precision medicine portrays itself as a sophisticated medical care model while simultaneously opening avenues for public health care. However, despite its proven potential, the technology is still in its infancy and needs to evolve while overcoming many deficiencies and challenges.
Some of the factors such as the emergence of liquid biopsy, increasing demand for multiplex assays to target emerging diseases, reduced adverse drug reactions through pharmacogenomics testing, and increasing focus on target-based therapies are acting as significant factors propelling the growth of the global precision medicine market.
In terms of ecosystem, the global precision medicine market is dominated by applied sciences. This dominance can be attributed to the ongoing advancements in the field of human genomics and innovation of new healthcare technologies such as next-generation sequencing, high throughput screening (HTS), and digital polymerase chain reaction (PCR).
At present, government initiatives are focused on launching a large number of genomic tests and drugs, controlling the increasing level of genetic disorders, and integrating advanced technologies to fulfill the unmet needs of the patients. Most of the developments taking place in the present scenario are mainly related to oncology and cardiovascular diseases, but it is anticipated that it may target almost all therapeutic areas affected by genetic mutations.
In terms of application type, the global precision medicine market is dominated by oncology. In 2017, the market for oncology was valued $38.01 billion. Cancer is classified to be a disease of genetic mutation, as a result of genetic changes. Technological advancement has generated a better understanding of tumor and led to more effective treatment strategies that are personalized to the genetic profile of patients suffering from different types of cancer.
In terms of regional potential, North America is the leading contributor to the global precision medicine market and contributed approximately 47% of the global market values in 2017. This can be attributed to increasing usage of genomics and pharmacogenomics in the development of personalized medicines, and high income of patients to afford costly diagnostic and genetic tests.
Also, in the year 2015, the launch of Precision Medicine Initiative (PMI) by the then U.S. president, Barack Obama, completely revolutionized the process of healthcare delivery in the nation. The initiative was aimed at irradiating the already existing one-size-fits-all approach of treatment and hence improve patient outcomes while minimalizing healthcare costs. In financial terms, the initiative was worth $215 million and significantly accelerated the discovery of biomedical tools, knowledge, and therapies to assist clinicians to come up with the treatment that best serves the individual need of the patients.
The key players who have been contributing significantly to the global precision medicine market are
- Pfizer, Inc.
- Merck & Co., Inc
- Abbott Laboratories
- GlaxoSmithKline plc
- AstraZeneca plc
- Sanofi S.A
- Almac Group Ltd
- Bio-Rad Laboratories, Inc.
- Johnson and Johnson
- bioMrieux S.A.
Key Topics Covered:
1 Market Overview
1.2 Precision Medicine: A Frontier in the Genesis of Patient-centric Medicine
1.3 Precision Medicine: Remodeling the One-Size-Fits-All Theory to Individually Tailored Therapy
1.4 Initiatives and Programs
1.5 Assumptions and Limitations for Market Size Calculations
1.6 Precision Medicine: Enabling Technologies
184.108.40.206 3D DNA Printing
220.127.116.11.2 Role of 3D DNA Printing
18.104.22.168.2 Role of RNA-Seq in Precision Medicine
22.214.171.124.3 Key Players
126.96.36.199 4D Molecular Imaging
188.8.131.52.2 Role of 4D Molecular Imaging in Precision Medicine
184.108.40.206.3 Key Players
1.6.2 Early Adopters
220.127.116.11.2 Role of CRISPR in Precision Medicine
18.104.22.168.3 Key Players
22.214.171.124.2 Role of Blockchain in Precision Medicine
126.96.36.199.3 Key Players
188.8.131.52 Imaging Informatics
184.108.40.206.2 Role of Imaging Informatics in Precision Medicine
220.127.116.11.3 Key Players
1.6.3 Early Majority
18.104.22.168 Artificial Intelligence (AI)
22.214.171.124.2 Role of Artificial Intelligence in Precision Medicine
126.96.36.199.3 Key Players
188.8.131.52 Circulating free DNA (cfDNA)
184.108.40.206.2 Role of cfDNA in Precision Medicine
220.127.116.11.3 Key Players
18.104.22.168 Big Data
22.214.171.124.2 Role of Big Data in Precision Medicine
126.96.36.199.3 Key Players
188.8.131.52 Next-Generation Sequencing (NGS)
184.108.40.206.2 Role of NGS in Precision Medicine
220.127.116.11.3 Key Players
18.104.22.168 Health Informatics
22.214.171.124.2 Role of Health informatics in Precision Medicine
126.96.36.199.3 Key players
188.8.131.52.2 Role of Bioinformatics in Precision Medicine
184.108.40.206.3 Key Players
1.6.4 Late Majority
220.127.116.11 Polymerase Chain Reactions (PCR)
18.104.22.168.2 Role of PCR in Precision Medicine
22.214.171.124.3 Key players
126.96.36.199.1 Role of Microarray in Precision Medicine
188.8.131.52.2 Key Players
2 Market Dynamics
2.1 Impact Analysis
2.2 Market Drivers
2.2.1 Advancement of Sequencing Technologies
2.2.2 Rising Prevalence of Chronic Diseases
2.2.3 Growing Demand for Preventive Care
2.2.4 Shifting the Significance in Medicine, from Reaction to Prevention
2.2.5 Reducing Adverse Drug Reactions Through Pharmacogenomics Test
2.2.6 Potential to Reduce the Overall Healthcare Cost Across the Globe
2.3 Market Restraints
2.3.1 Unified Framework for Data Integration
2.3.2 Limited Knowledge About Precision Medicine Application
2.3.3 Lack of Robust Reimbursement Landscape
2.3.4 Regulatory Hurdles
2.4 Market Opportunities
2.4.1 Targeted Gene Therapy
2.4.2 Expansion into the Emerging Markets
2.4.3 Collaboration and Partnerships Across Value Chain Would Accelerate the Market Entry
3 Competitive Insights
3.1 Key Developments and Strategies
3.1.1 Joint Ventures, Partnerships, Agreements, and Collaborations
3.1.2 Product launches, Enhancements, and Upgradation
3.1.3 Product Approvals
3.1.4 Merger and Acquisitions
3.1.5 Business Expansion
3.1.6 Other Developments
3.2 Market Share Analysis
3.2.1 Market Share Analysis by Applied Sciences, 2017
3.2.2 Market Share Analysis by Precision Diagnostics, 2017
3.2.3 Market Share Analysis by Precision Therapeutics, 2017
3.2.4 Market Share Analysis by Digital Health and IT, 2017
3.3 Industry Attractiveness
3.3.1 Definition of Suppliers and Buyers in the Precision Medicine Market
3.3.2 Bargaining Power of Suppliers
3.3.3 Bargaining Power of Buyers
3.3.4 Threat of New Entrants
3.3.5 Threat of Substitute Products
3.3.6 Intensity of Competitive Rivalry
3.4 Supply Chain Analysis
4 Industry Insights
4.1 Patent Analysis
4.2 Legal Requirements and Regulations
4.3 Pipeline Analysis
5 Global Precision Medicine Market (by Ecosystem)
5.2 Applied Sciences
184.108.40.206 Polymerase Chain Reaction (PCR)
220.127.116.11 Precision Medicine Next-Generation Sequencing (PM NGS)
18.104.22.168 Genome Editing
22.214.171.124 Other Technologies
5.2.3 Other Applied Sciences
5.3 Precision Diagnostics
5.3.1 Molecular Diagnostics (MDx)
126.96.36.199 Non-invasive Prenatal Testing (NIPT)
188.8.131.52 Companion Diagnostics
184.108.40.206 Liquid Biopsy
220.127.116.11 Other Molecular Diagnostics
5.3.2 Medical Imaging
18.104.22.168 Imaging Analytics
22.214.171.124 Imaging Computer-Aided Detection (CADx)
5.4 Digital Health and Information Technology
5.4.1 Clinical Decision Support Systems (CDSS)
5.4.2 Big Data Analytics
5.4.3 IT Infrastructure
5.4.4 Genomics Informatics
5.4.5 In-Silico Informatics
5.4.6 Mobile Health
5.5 Precision Therapeutics
5.5.1 Clinical Trials
5.5.2 Cell Therapy
5.5.3 Drug Discovery and Research
5.5.4 Gene Therapy
6 Global Precision Medicine Market (by Application)
6.2.1 Government Initiatives
6.2.2 Key Insights
6.2.3 Drivers and Challenges
6.2.4 Cancer Precision Medicine Drugs and Indications
6.2.5 Recent Key Developments
6.3 Infectious Diseases
6.3.1 Infectious Diseases Precision Medicine Drugs and Indications
6.4.1 Neurology Precision Medicine Drugs and Indications
6.5.1 Cardiovascular Precision Medicine Drugs/Tests/ and Indications
6.6 Lifestyle and Endocrinology
6.6.1 Endocrinology Precision Medicine Drugs and Indications
6.7.1 Gastroenterology Precision Medicine Drugs and Indications
6.8 Other Applications
6.8.1 Precision Drugs for Other Applications
7 Global Precision Medicine Market (by Region)
8 Company Profiles
- Abbott Laboratories
- Almac Group Ltd.
- Amgen Inc.
- ANGLE plc
- Astellas Pharma Inc.
- Astra Zeneca PLC
- ASURAGEN INC.
- Bio-Rad Laboratories, Inc.
- bioMrieux SA.
- Bristol-Myers Squibb Company
- Canon Inc.
- CETICS Healthcare Technologies GmbH
- Danaher Corporation
- Eli Lilly and Company Limited
- Epic Sciences, Inc.
- F. Hoffmann-La Roche AG
- GE Corporation
- Gilead Sciences, Inc.
- GlaxoSmithKline Plc
- IBM Corporation
- Illumina, Inc.
- Intomics A/S
- Johnson & Johnson
- Konica Minolta, Inc.
- Laboratory Corporation of America
- MDxHealth, Inc.
- Menarini Silicon Biosystems, Inc.
- Merck & Co., Inc.
- Myriad Genetics, Inc.
- Novartis AG
- Oracle Corporation
- Pacific Biosciences of California, Inc.
- Partek, Inc.
- Pfizer, Inc.
- QIAGEN N.V
- Quest Diagnostics Inc.
- Randox Laboratories Ltd.
- Sanofi SA
- Sysmex Corporation
- Teva Pharmaceuticals Industries Ltd.
- Thermo Fisher Scientific, Inc.
- TrovaGene, Inc.
For more information about this report visit https://www.researchandmarkets.com/research/zck4v9/global_precision?w=5
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
View original content:http://www.prnewswire.com/news-releases/global-precision-medicine-market-research-report-2019-remodeling-the-one-size-fits-all-theory-to-individually-tailored-therapy-300790810.html
SOURCE Research and Markets