Press release
Precision Medicine Market to grow as firms collaborate for personalized treatment of diseases
Precision medicine is an advanced approach for patient care and treatment by selecting desired treatments based on a genetic understanding of their disease. Precision medicine can also be called personalized medicine.
Precision Medicine Market Drivers
The rise in online collaborative firms for precision medicines is driving the global precision medicine market. For instance, in July 2018, Validic collaborated with SAP to integrate health data captured by clinical devices to help providers deliver personalized treatments.
In October 2018, LabCorp and Definiens developed a strategic collaboration to improve global development of precision medicine. This collaboration, Covance drug development business that will enable seamless integration of digital pathology with clinical-trial design and tissue-based testing solutions, resulting in a faster and more rigorous approach to biomarker validation and companion diagnostic co-development.
Precision Medicine Market Segmentation
By Drug type
The global precision medicine market is segmented based on application, which includes the central nervous system (CNS), oncology, hematology, immunology, and others.
Oncology held the significant market share in 2018, and it is expected to remain dominant over the forecast period, due to increased cancer cases.
Cancer is the second leading cause of death globally and is responsible for an estimated 9.6 million deaths in 2018. Globally, about 1 in 6 deaths is due to cancer.
Precision Medicine Market Geographical Share
North America held the dominant market share for precision medicine in 2018, and it is expected to maintain the growth over the forecast period, due to the increasing government initiative for the development of precision medicine in the U.S.
Asia-Pacific has shown significant growth in 2018, due to the government investment for the development of Precision Medicine in this region.
In June 2016, the central government of China had introduced a 15-year project for Precision Medicine and have funded USD 9.2 billion aiming to build up the country’s credentials as a global leader in precision medicine.
Precision Medicine Market Company Trends
June 2018, Thermo Fisher Scientific Inc., opened its U.S. Precision Medicine Science Center (PMSC) in Cambridge, Mass. The center offers access to advanced technologies and expertise to help collaborators develop analytical workflows that generate precise molecular profiles of patients.
In January 2018, GE Healthcare partnered with Roche to build precision medicine oncology platform.
In December 2017, Roche acquired Ignyta for a total transaction value of USD 1.7 billion on a fully diluted basis. Ignyta is a precision medicine company focused on oncology.
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The Table of content contained in this market report is as under-
1. Precision Medicine Market – Methodology and Scope
1.1 Research Methodology
1.2 Scope of the Report
2. Precision Medicine Market – Industry Trends
2.1 Key Trends & Developments
3. Precision Medicine Market – Outlook
3.1 Industry Impact Factors (Drivers & Restraints)
3.2 Porter 5 Forces
3.3 Patent Analysis
4. Precision Medicine Market – Product-based Analysis
4.1 By Technology
4.1.1 Big Data Analytics
4.1.2 Bioinformatics
4.1.3 Gene Sequencing
4.1.4 Drug Discovery
4.1.5 Companion Diagnostics
4.1.6 Others
4.2 By Application
4.2.1 Oncology
4.2.2 CNS
4.2.3 Immunology
4.2.4 Respiratory
4.2.5 Others
4.3 By Product
4.3.1 Consumables
4.3.2 Instruments
4.3.3Services
4.4 By End-Users
4.4.1 Pharma & Biotech Companies
4.4.2 Diagnostic Tool Companies
4.4.3 Healthcare IT/Big Data Companies
4.4.4 Clinical Laboratories
5. Precision Medicine Market – Regional, Country-level Analysis
5.1 Global Precision Medicine Market- Geographic Overview (Share of the regions)
5.2. North America
5.2.1. The USA
5.2.2. Canada
5.2.3. Mexico
5.3. Europe
5.3.1. Germany
5.3.2. France
5.3.3. The UK
5.3.4. Other
5.4. Asia Pacific
5.4.1. China
5.4.2. Japan
5.4.3. India
5.4.3 Australia
5.4.5. Other
5.5 South America
5.5.1 Brazil
5.5.2 Argentina
5.5.3 Others
6. Precision Medicine Market – Competitive Analysis
6.1 Global Market Share Analysis
6.2 Key Strategies adopted by Manufacturers
6.3 Product Benchmarking
7. Precision Medicine Market – Company Profiles
7.1 Pfizer
7.2 Medtronic
7.3 Eagle Genomics Ltd
7.4 Ferrer Incode
7.5 Laboratory Corporation Of America Holdings
7.6 Roche Holding Ag
7.7 Intomics
7.8 Biocrates Life Sciences Ag
7.9 Qiagen
7.10 Teva Pharmaceuticals
7.11 Nanostring Technologies
7.12 Novartis
8. Precision Medicine Market – Appendix
8.1 Sources
8.2 List of Tables
8.3 Expert Panel Validation
8.4 Disclaimer
8.5 Contact Us
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