Precision Medicine Market Research 2024–2030: Growth, Size & Opportunities
Precision Medicine Market Research 2024–2030: Growth, Size & Opportunities
Market Size, Growth & Valuation (2024-30)
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.
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Precision Medicine Market Structure – Segmentation & Geography
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
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
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.
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific.
North America has a well-developed healthcare infrastructure with several state-of-the-art hospitals like the Mayo Clinic, Cleveland Clinic, research institutions, and medical centers.
Key Growth Trends (2024-2030)
Integration with Emerging Technologies Like Artificial Intelligence (AI) and Big Data Analytics – The demand for personalized medicine has significantly increased across the globe to address unmet medical needs. Companies have increasingly relied on technologies like machine learning, artificial intelligence, etc. to analyze the large volume of data, comprising genomic data, clinical data, imaging data, and patient outcomes.
Moreover, the amalgamation of these technologies is used for assessing environmental exposures, lifestyle factors, and disease biomarkers to analyze disease exposure, progression, and recurrence for any individual. This further helps hospitals & nursing homes develop targeted therapies for the consumer & provide appropriate treatment for the individual, reducing mortality rates. Therefore, the increasing integration of technologies like molecular imaging, pharmacogenomics, etc. to develop tailored medicine would further propagate the Precision Medicine Market in the coming years.
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Research Methodology
MarkNtel Advisors employs a thorough and iterative research methodology to enhance accuracy in market estimates. Our process combines bottom-up and top-down approaches, focusing on data triangulation for validation. It includes defining research objectives, selecting representative samples, and collecting data through surveys and interviews. Post-collection, we analyze and validate the data using statistical tools, ensuring reliability. Finally, we forecast market trends through predictive modeling, compiling our insights into detailed reports with charts and strategic recommendations for informed decision-making.
Competitive Analysis Framework
The Precision Medicine industry is moderately fragmented, with key players focusing on technological advancements and strategic partnerships. A detailed competitive analysis helps businesses benchmark against industry leaders and identify growth opportunities.
Leading Precision Medicine Companies 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.
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Key Questions Answered in This Report:
- What is the current market size of Precision Medicine, and what growth rate is projected by 2030?
- Which key trends are driving Precision Medicine market expansion in the next five years?
- How does market segmentation impact industry dynamics?
- Which geographic regions offer the highest growth potential?
- What are the primary challenges hindering Precision Medicine industry growth?
- How do regulatory policies influence market development?
- What are the latest technological advancements impacting the sector?
- Who are the leading Precision Medicine companies, and what are their market shares?
- What strategies are top competitors adopting to maintain dominance?
- What are the emerging niche segments with high growth potential?
- How do macroeconomic factors affect market performance?
- What are the investment opportunities for new entrants?
- How does pricing strategy vary across different market segments?
- What are the future innovation trends expected in this industry?
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