Precision medicine is based on a novel idea that states that, two persons infected with the same disease do not have to respond to the sickness in the same way physically. However, it is dependent on the patient's symptoms and the surrounding environment, as well as the impact of genes. Furthermore, it is dependent on the patients' capacity to respond to that specific condition, which allows physicians and researchers to plan the necessary therapy.
Market Overview:
Global Precision medicine market was valued at USD 65.89 Billion in 2021 and it is expected to reach a value of USD 146.57 Billion by 2028, at a CAGR of 12.10% over the forecast period (2022-2028).
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Top Key players operated in Global Precision medicine Market:
- F. Hoffmann-La Roche AG (Switzerland)
- Illumina, Inc. (US)
- Thermo Fisher Scientific Inc. (US)
- Qiagen (Germany)
- Quest Diagnostics (US)
- Laboratory Corporation of America Holdings (US)
- Novartis AG (Switzerland)
- AstraZeneca (UK)
- Bristol-Myers Squibb (US)
- Eli Lilly And Company (US)
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Key Offerings:
- Global Precision medicine Market Size & Forecast by Revenue | 2022−2028
- Global Precision medicine Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, type, end-user and geography
- Competitive Landscape – Top key vendors and other prominent vendors
Global Precision Medicine Key Market Trends
- Precision medicine will almost certainly continue to be focused on developing new therapies for cancer. When compared to the next greatest use of precision medicine, it is utilized 30% more often to treat oncological illnesses. precision medicine applications in oncology are more common in Europe and the US, where research is conducted. The expansion of the precision medicine industry in the treatment of oncological illnesses is projected to be accelerated thanks to government financing.
- Clinical practitioners will be able to select whether tests are essential and how to apply genetic data to the results using tools that aid decision-making in precision medicine. precision medicine will also help patients avoid denials and delays in receiving care. This will also have an impact on the types of tests requested in the following five years. Over the next five years, broad panel tests that look at an area of the gene will become more common, as compared to present tests that only look at a small number of genes.
The report is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
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