DUBLIN--(BUSINESS WIRE)--The "Precision Medicine Global Market Report 2021: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
The global precision medicine market is expected to grow from $62.75 billion in 2020 to $72.58 billion in 2021 at a compound annual growth rate (CAGR) of 15.7%. The market is expected to reach $118.32 billion in 2025 at a CAGR of 13%.
Major players in the precision medicine market are Qiagen, Novartis AG, Medtronic, AstraZeneca plc., Quest Diagnostics, Thermo Fisher Scientific Inc., Pfizer, Bristol-Myers Squibb, Merck & Co. Inc., Tepnel Pharma Services, Abbott Laboratories, Takeda Pharmaceutical Company Ltd., and Eli Lilly and Company.
The precision medicine market consists of sales of precision medicines and related services by entities (organizations, sole traders, and partnerships) that are used to treat diseases by relying on genomics and specific biomarker techniques.
It allows doctors or physicians to select a treatment plan or drug therapy based on the patient's genetic understanding of their disease, environment, and lifestyle. The precision medicine technologies also assist researchers and doctors in developing accurate treatment and prevention strategies for a particular disease that will work on a specific group of people.
The main technologies involved in precision medicine are bioinformatics, big data analytics, drug discovery, gene sequencing, companion diagnostics, and others. Bioinformatics technologies involve the application of computational tools to organize, analyze, understand, visualize and store information associated with biological macromolecules.
It is used in oncology, respiratory diseases, central nervous disorders, immunology, genetic diseases, others and is implemented in various sectors such as hospitals and clinics, pharmaceuticals, diagnostic companies, healthcare, and IT firms, among others.
North America was the largest region in the precision medicine market in 2020. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The development of novel precision medicine for pancreatic cancer is shaping the precision medicine market. Extensive research is being undertaken on different approaches to develop precision medicines for pancreatic cancer. For instance, in October 2020, Scientists from the University of Glasgow announced the development of a novel precision medicine approach for treating the damaged DNA in the cancer cells of pancreatic cancer patients.
The team used grown cells from the lab, and replicas of patients' tumors, to find molecular markers, which were used in the prediction and response to several drugs, targeting DNA damage.
The researchers tested certain markers using multiple drugs, also developed a strategy that is taken forward into a clinical trial. The trial will help doctors and researchers to predict which patient will respond to one of these drugs, either alone or in combination.
The rising prevalence of cancer is projected to fuel the growth of the precision medicine market in the coming years. Cancer is one of the main causes of death worldwide, with one out of every five individuals developing cancer at some point in their lives. Precision medicine in cancer entails analyzing DNA from tumors to find mutations or other genetic abnormalities that cause cancer.
Physicians may therefore be able to choose a treatment for a specific patient's cancer that best fits, or targets, the tumor DNA alterations. Therefore, the rising prevalence of cancer drives the growth of the precision medicine market.
Key Topics Covered:
1. Executive Summary
2. Precision Medicine Market Characteristics
3. Precision Medicine Market Trends and Strategies
4. Impact Of COVID-19 On Precision Medicine
5. Precision Medicine Market Size and Growth
5.1. Global Precision Medicine Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global Precision Medicine Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of the Market
5.2.2. Restraints On the Market
6. Precision Medicine Market Segmentation
6.1. Global Precision Medicine Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Big Data Analytics
- Bioinformatics
- Gene Sequencing
- Drug Discovery
- Companion Diagnostics
- Others
6.2. Global Precision Medicine Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Oncology
- Respiratory Diseases
- Central Nervous System Disorders
- Immunology
- Genetic Diseases
- Others
6.3. Global Precision Medicine Market, Segmentation by End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Hospitals and Clinics
- Pharmaceuticals
- Diagnostic Companies
- Healthcare and IT Firms
- Others
7. Precision Medicine Market Regional and Country Analysis
7.1. Global Precision Medicine Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Precision Medicine Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
8. Asia-Pacific Precision Medicine Market
8.1. Asia-Pacific Precision Medicine Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Precision Medicine Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
8.3. Asia-Pacific Precision Medicine Market, Segmentation by End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
9. China Precision Medicine Market
9.1. China Precision Medicine Market Overview
9.2. China Precision Medicine Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F,$ Billion
9.3. China Precision Medicine Market, Segmentation by End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F,$ Billion
10. India Precision Medicine Market
10.1. India Precision Medicine Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
10.2. India Precision Medicine Market, Segmentation by End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
11. Japan Precision Medicine Market
11.1. Japan Precision Medicine Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
11.2. Japan Precision Medicine Market, Segmentation by End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
12. Australia Precision Medicine Market
12.1. Australia Precision Medicine Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
12.2. Australia Precision Medicine Market, Segmentation by End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
13. Indonesia Precision Medicine Market
13.1. Indonesia Precision Medicine Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
13.2. Indonesia Precision Medicine Market, Segmentation by End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
14. South Korea Precision Medicine Market
14.1. South Korea Precision Medicine Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
14.2. South Korea Precision Medicine Market, Segmentation by End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
15. Western Europe Precision Medicine Market
15.1. Western Europe Precision Medicine Market Overview
15.2. Western Europe Precision Medicine Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
15.3. Western Europe Precision Medicine Market, Segmentation by End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
16. UK Precision Medicine Market
16.1. UK Precision Medicine Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
16.2. UK Precision Medicine Market, Segmentation by End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
17. Germany Precision Medicine Market
17.1. Germany Precision Medicine Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
17.2. Germany Precision Medicine Market, Segmentation by End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
18. France Precision Medicine Market
18.1. France Precision Medicine Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
18.2. France Precision Medicine Market, Segmentation by End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
19. Eastern Europe Precision Medicine Market
19.1. Eastern Europe Precision Medicine Market Overview
19.2. Eastern Europe Precision Medicine Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
19.3. Eastern Europe Precision Medicine Market, Segmentation by End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
20. Russia Precision Medicine Market
20.1. Russia Precision Medicine Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
20.2. Russia Precision Medicine Market, Segmentation by End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
21. North America Precision Medicine Market
21.1. North America Precision Medicine Market Overview
21.2. North America Precision Medicine Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
21.3. North America Precision Medicine Market, Segmentation by End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
22. USA Precision Medicine Market
22.1. USA Precision Medicine Market Overview
22.2. USA Precision Medicine Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
22.3. USA Precision Medicine Market, Segmentation by End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
23. South America Precision Medicine Market
23.1. South America Precision Medicine Market Overview
23.2. South America Precision Medicine Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
23.3. South America Precision Medicine Market, Segmentation by End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
24. Brazil Precision Medicine Market
24.1. Brazil Precision Medicine Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
24.2. Brazil Precision Medicine Market, Segmentation by End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
25. Middle East Precision Medicine Market
25.1. Middle East Precision Medicine Market Overview
25.2. Middle East Precision Medicine Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
25.3. Middle East Precision Medicine Market, Segmentation by End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
26. Africa Precision Medicine Market
26.1. Africa Precision Medicine Market Overview
26.2. Africa Precision Medicine Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
26.3. Africa Precision Medicine Market, Segmentation by End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
27. Precision Medicine Market Competitive Landscape and Company Profiles
27.1. Precision Medicine Market Competitive Landscape
27.2. Precision Medicine Market Company Profiles
27.2.1. Qiagen
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. Novartis AG
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. Medtronic
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. AstraZeneca plc.
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. Quest Diagnostics
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance
28. Key Mergers and Acquisitions in the Precision Medicine Market
29. Precision Medicine Market Future Outlook and Potential Analysis
30. Appendix
30.1. Abbreviations
30.2. Currencies
30.3. Research Inquiries
30.4. About the Publisher
30.5. Copyright and Disclaimer
Companies Mentioned
- Qiagen
- Novartis AG
- Medtronic
- AstraZeneca plc
- Quest Diagnostics
- Thermo Fisher Scientific Inc.
- Pfizer
- Bristol-Myers Squibb
- Merck & Co. Inc.
- Tepnel Pharma Services
- Abbott Laboratories
- Takeda Pharmaceutical Company Ltd.
-
Eli Lilly and Company
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