Global Precision Medicine Market Report 2023 - Projections Show Strong Growth Potential through 2033

Dublin, Dec. 15, 2023 (GLOBE NEWSWIRE) -- The "Precision Medicine Market Report 2023-2033" report has been added to's offering.

The global Precision Medicine Market is projected to experience robust expansion from 2023 to 2033, with a forecast surpassing US$78 billion in overall world revenue for 2023.

The latest comprehensive research publication dives into the market dynamics, growth drivers, and potential challenges facing the industry. The report provides vital insights for organizations aiming to understand the intricacies of the precision medicine landscape and explore new opportunities. As companies seek to venture into untapped markets or widen their reach within this sector, the analysis within this publication will be an invaluable resource for strategic planning and decision-making.

The Expanding Application of Precision Medicine and Escalating Demand for Targeted Therapies

The application of precision medicine is widening, particularly in the management of genetic disorders, neurogenetics, cardiovascular genomics, and rare disease genetic testing. The increasing application of these technologies is driven by the growing recognition of the benefits of personalized treatment regimens. In the face of high initial costs, this report delves into the market dynamics and explains the challenges associated with the deployment of precision medicine. It highlights how economic factors and the infrastructure for data privacy and investigation shape the cost and usage of precision medicine.

Market Evaluation and Future Prospects

The research scrutinizes various questions pertinent to stakeholders in the precision medicine market, ranging from market evolution, drivers, restraints, and detailed submarket forecasts to the impact of macroeconomic dynamics on national markets.

Segmentation and Regional Analysis

  • Diagnostic Tests, Therapeutics Applications, and Technologies
  • Oncology, CNS, Immunology, Respiratory, and Other Applications
  • Hospitals, Diagnostic Centres, Research Institutes, and Other End-users
  • Regional Forecasts covering North America, Europe, Asia Pacific, Latin America, and MEA

The report offers granular forecasts and analyses for leading national markets such as the United States, Canada, Germany, United Kingdom, China, Japan, India, Brazil, and South Africa, among others.

The report’s detailed analysis is intended to guide businesses to the forefront of the market, providing key insights for investment strategies and highlighting lucrative market segments.

Unparalleled Industry Intelligence

This extensive 340+ page document includes over 149 tables and 220 charts, which convey pivotal information that is not available from any other source. Businesses will find exclusive predictions, high-value data, and comprehensive market analysis that can inform and drive strategic industry decisions.

The research is a must-read for anyone in need of detailed market intelligence on the Precision Medicine Market, from industry veterans to those looking to enter the market. Offering invaluable insights, this report ensures that stakeholders are equipped with the information needed to thrive in the precision medicine landscape over the next decade.

Market Dynamics

Market Driving Factors

  • Increasing Global Burden of Cancer Boosts the Demand for Personalized Medicine
  • Increase in Scope of Application of Precision Medicine
  • Accelerating Demand for Targeted Therapy
  • Growing Precedence of Precision Medicine Over Traditional Practice of "One-Size-Fits-All" Therapies

Market Restraining Factors

  • High Cost of Precision Medicine
  • Lack of Data Interoperability
  • Insufficient Funding for Diagnostics Space in the Emerging Economies

Market Opportunities

  • Growing Use of AI in Healthcare Is Boosting Demand for Precision Medicine
  • Growing acceptance of gene therapy and gene editing technology

Leading companies and the potential for market growth

  • Abbott
  • Abnova
  • Agilent Technologies
  • AstraZeneca
  • Bayer
  • Biogen
  • bioMerieux
  • Bristol-Myers Squibb
  • Danaher
  • F. Hoffmann-La Roche
  • GE HealthCare
  • GSK plc
  • Illumina
  • Johnson & Johnson Services
  • Laboratory Corporation of America Holdings
  • Lilly
  • Myriad Genetics
  • NanoString Technologies
  • Novartis
  • Pfizer
  • Qiagen
  • Quest Diagnostics
  • Teva Pharmaceutical Industries
  • Thermo Fisher Scientific

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