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Global Precision Medicine Market: By Technology: NGS, Drug Discovery Technologies, Bioinformatics; By Product: Consumables, Instruments, Services; By Application: Cardiovascular, Oncology, Others; By End Use; Regional Analysis; Historical Market and Forecast (2017-2027); Competitive Landscape; Industry Events and Developments
Global Precision Medicine Market Outlook
The global precision medicine industry is expected to grow at a CAGR of 10% to reach a value of USD 141 billion by 2026, driven by the rising technologies and growing demand for a cure for cancer.
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North America Leading the Precision Medicine Industry
North America has been a major hub in the research for market and the region has seen the largest market share in this field. The investment and government backing in this field has been seen to be high in such developed countries which has been a major cause for the large market. This has also been observed in Europe, where medical research has a robust foundation. Alternatively, in the Asia Pacific region, the lower cost of clinical trials as well as improving research in the healthcare field can make the region a lucrative choice for investment in the long run.
Precision Medicine: Industry, Definition and Segmentation
Precision medicine is a novel field of medicine where research into individual patients’ history is used to create specific drugs for certain groups of people, rather than a cure-all medicine for all. This field holds great promise in the cure for cancer, neurological and cardiological diseases. Since the patient’s genetic and medical history is analysed previously, the need for invasive testing procedures is reduced, thus lowering other costs for the patient as well as the doctor.
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The industry can be segmented on the basis of technology used:
- NGS
- Drug Discovery Technologies
- Bioinformatics
- Others
The market can also be segmented by product type:
- Consumables
- Instruments
- Services
It can also be segmented on the basis of application:
- Cardiovascular
- Oncology
- Infectious Diseases
- Neurology/Psychiatry
- Gastroenterology
- Endocrinology
- Others
The market may be classified according to end-use too:
- Home care
- Hospitals
- Clinical Labs
- Others
The regional markets for precision medicine can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
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Advancement in Health-Related Data Analysis to Boost the Precision Medicine Industry
With a significant rise in data analytics related to health sciences as well as vast strides in the field of genomics, studies in precision medicine have increased over time and it is predicted that the trend shall continue well into the future. Individual drug-discovery is a tedious, time-consuming, and costly process and it requires clearance of various regulations from multiple agencies as well. Such factors and the cost-effectivity of this approach will also contribute to the growth of the precision medicine market. Growing cancer rates are also expected to push for greater research in this industry. With more people volunteering to share genetic data, lifestyle patterns and other relevant information, it is projected that precision medicine will see a considerable rise in interest, relevance, and market value.
Key Industry Players in the Global Precision Medicine Market
The report gives a detailed analysis of the following key players in the global precision medicine industry, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Siemens Healthcare GmbH
- Janssen Pharmaceutica N.V.
- Quest Diagnostics Incorporated
- F. Hoffmann-La Roche Ltd.
- Myriad Genetics Inc.
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2020 |
| Historical Period | 2017-2021 |
| Forecast Period | 2022-2027 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Technology, Product, Application, End Use, Region |
| Breakup by Technology | NGS, Drug Discovery Technologies, Bioinformatics, Others |
| Breakup by Product | Consumables, Instruments, Services |
| Breakup by Application | Cardiovascular, Oncology, Infectious Diseases, Neurology/Psychiatry, Gastroenterology, Endocrinology, Others |
| Breakup by End Use | Home Care, Hospitals, Clinical Labs, Others |
| Breakup by Region | North America, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Siemens Healthcare GmbH, Janssen Pharmaceutica N.V., Quest Diagnostics Incorporated, F. Hoffmann-La Roche Ltd, Myriad Genetics Inc., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Precision Medicine Market Analysis
8.1 Key Industry Highlights
8.2 Global Precision Medicine Historical Market (2017-2021)
8.3 Global Precision Medicine Market Forecast (2022-2027)
8.4 Global Precision Medicine Market by Technology
8.4.1 NGS
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 Drug Discovery Technologies
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.4.3 Bioinformatics
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2017-2021)
8.4.3.3 Forecast Trend (2022-2027)
8.4.4 Others
8.5 Global Precision Medicine Market by Product
8.5.1 Consumables
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 Instruments
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.5.3 Services
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2017-2021)
8.5.3.3 Forecast Trend (2022-2027)
8.6 Global Precision Medicine Market by Application
8.6.1 Cardiovascular
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2017-2021)
8.6.1.3 Forecast Trend (2022-2027)
8.6.2 Oncology
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2017-2021)
8.6.2.3 Forecast Trend (2022-2027)
8.6.3 Infectious Diseases
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2017-2021)
8.6.3.3 Forecast Trend (2022-2027)
8.6.4 Neurology/Psychiatry
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2017-2021)
8.6.4.3 Forecast Trend (2022-2027)
8.6.5 Gastroenterology
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2017-2021)
8.6.5.3 Forecast Trend (2022-2027)
8.6.6 Endocrinology
8.6.6.1 Market Share
8.6.6.2 Historical Trend (2017-2021)
8.6.6.3 Forecast Trend (2022-2027)
8.6.7 Others
8.7 Global Precision Medicine Market by End Use
8.7.1 Home Care
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2017-2021)
8.7.1.3 Forecast Trend (2022-2027)
8.7.2 Hospitals
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2017-2021)
8.7.2.3 Forecast Trend (2022-2027)
8.7.3 Clinical Labs
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2017-2021)
8.7.3.3 Forecast Trend (2022-2027)
8.7.4 Others
8.8 Global Precision Medicine Market by Region
8.8.1 Market Share
8.8.1.1 North America
8.8.1.2 Europe
8.8.1.3 Asia Pacific
8.8.1.4 Latin America
8.8.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Siemens Healthcare GmbH
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Janssen Pharmaceutica N.V.
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Quest Diagnostics Incorporated
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 F. Hoffmann-La Roche Ltd
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Myriad Genetics Inc.
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Others
13 Industry Events and Developments
List of Figures and Tables
1. Global Precision Medicine Market: Key Industry Highlights, 2016 and 2026
2. Global Precision Medicine Historical Market: Breakup by Technology (USD Billion), 2017-2021
3. Global Precision Medicine Market Forecast: Breakup by Technology (USD Billion), 2022-2027
4. Global Precision Medicine Historical Market: Breakup by Product (USD Billion), 2017-2021
5. Global Precision Medicine Market Forecast: Breakup by Product (USD Billion), 2022-2027
6. Global Precision Medicine Historical Market: Breakup by Application (USD Billion), 2017-2021
7. Global Precision Medicine Market Forecast: Breakup by Application (USD Billion), 2022-2027
8. Global Precision Medicine Historical Market: Breakup by End Use (USD Billion), 2017-2021
9. Global Precision Medicine Market Forecast: Breakup by End Use (USD Billion), 2022-2027
10. Global Precision Medicine Historical Market: Breakup by Region (USD Billion), 2017-2021
11. Global Precision Medicine Market Forecast: Breakup by Region (USD Billion), 2022-2027
12. North America Precision Medicine Historical Market: Breakup by Country (USD Billion), 2017-2021
13. North America Precision Medicine Market Forecast: Breakup by Country (USD Billion), 2022-2027
14. Europe Precision Medicine Historical Market: Breakup by Country (USD Billion), 2017-2021
15. Europe Precision Medicine Market Forecast: Breakup by Country (USD Billion), 2022-2027
16. Asia Pacific Precision Medicine Historical Market: Breakup by Country (USD Billion), 2017-2021
17. Asia Pacific Precision Medicine Market Forecast: Breakup by Country (USD Billion), 2022-2027
18. Latin America Precision Medicine Historical Market: Breakup by Country (USD Billion), 2017-2021
19. Latin America Precision Medicine Market Forecast: Breakup by Country (USD Billion), 2022-2027
20. Middle East and Africa Precision Medicine Historical Market: Breakup by Country (USD Billion), 2017-2021
21. Middle East and Africa Precision Medicine Market Forecast: Breakup by Country (USD Billion), 2022-2027
22. Global Precision Medicine Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 10% between 2021 and 2026.
The market is estimated to witness healthy growth in the forecast period of 2022-2027 to reach USD 141 billion by 2026.
The major drivers of the market include the rising technologies, growing demand for a cure for cancer, and the cost-effectiveness of this approach.
The investment and government backing in this field has been a key industry trend.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
NGS, drug discovery technologies, and bioinformatics, among others are the leading technologies in the industry.
Consumables, instruments, and services are the leading product types in the industry.
Cardiovascular, oncology, infectious diseases, neurology/psychiatry, gastroenterology, and endocrinology, among others are the leading applications in the industry.
Home care, hospitals, and clinical labs, among others are the leading end uses in the industry.
The major players in the industry are Siemens Healthcare GmbH, Janssen Pharmaceutica N.V., Quest Diagnostics Incorporated, F. Hoffmann-La Roche Ltd., and Myriad Genetics Inc., among others.
Analyst Review
The global precision medicine market is driven by the rising technologies and growing demand for a cure for cancer. The market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 10%. The market is projected to reach USD 141 billion by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its technology, the precision medicine industry can be segmented into NGS, drug discovery technologies, and bioinformatics, among others. On the basis of product, the market is divided into consumables, instruments, and services. On the basis of applications, the market is divided into cardiovascular, oncology, infectious diseases, neurology/psychiatry, gastroenterology, and endocrinology, among others. On the basis of end uses, the market is segmented into home care, hospitals, and clinical labs, among others. The major regional markets for precision medicine are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Siemens Healthcare GmbH, Janssen Pharmaceutica N.V., Quest Diagnostics Incorporated, F. Hoffmann-La Roche Ltd., and Myriad Genetics Inc., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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