Global Precision Medicine Market Overview:
Precision Medicine is refer to customization of medical treatment by genetic understanding of the patients. It is use to analyze cause of disease at molecular level. New technologies in precision medicine market like genome sequencing, targeted sequencing and continuous research and development owing to increasing number of cancer and rare diseases growing the market. In addition development in personalized treatment, cost- effective therapies are projected to drive the sales potentially over forecast period. According to AMA, the Global Precision Medicine market is expected to see growth rate of 10.7%
- Growing incidence of cancer and rare diseases
- Increasing Use of Big Data in Healthcare
- Rising Demand of Personalized Treatment
- Growing cost-effective genomic and molecular biology testing techniques
- Stringent Healthcare Reforms
- Growing Research in Big Pharma and Biotech Companies
- Intense Competition among the vendors
Number of players are present in market hence market is fragmented. But growing research and development, new product launches, clinical trials, increasing ageing population, government initiatives for private companies are expected to grow market potentially over the forecast period.
Some of the key players profiled in the report are Biocrates Life Sciences AG (Austria), Nanostring Technologies (United States), Intomics (Denmark), Pfizer Inc. (united States), Eagle Genomics Ltd (United Kingdom), Teva Pharmaceuticals (Israel), Laboratory Corporation of America Holdings (United States), Novartis AG (Switzerland), Qiagen NV (Netherlands), Quest Diagnostics Incorporated (United States) and F. Hoffmann-La Roche AG (Switzerland). Additionally, following companies can also be profiled that are part of our coverage like Medtronic (Dublin). Analyst at AdvanceMarketAnalytics see United States Players to retain maximum share of Global Precision Medicine market by 2024. Considering Market by End User , the sub-segment i.e. Diagnostic Tool companies will boost the Precision Medicine market. Considering Market by Technology , the sub-segment i.e. Genomics will boost the Precision Medicine market. Considering Market by Sequencing, the sub-segment i.e. Sequencing by Synthesis will boost the Precision Medicine market.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Precision Medicine market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Precision Medicine market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Pharma and Biotech Companies, Diagnostic Tool Companies, Healthcare IT/ Big Data Companies, Clinical Laboratories, Business Entities, Government Bodies, Business Research and consulting Firms and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.