Pune, India, Sept. 29, 2021 (GLOBE NEWSWIRE) --
precision medicine market size is poised to show tremendous growth during the forecast period as the demand for specific medicines designed to fulfill a patient’s medical needs is growing. Online collaborations are taking place between doctors, physicians, biologists, and patients to create innovative technologies that produce high-quality medicines. Such partnerships create a brilliant networking and learning environment and enhance the doctor-patient engagement rate. Regional trends that will boost the market potential are mentioned below:
Robust use of precision medicines in Asia Pacific to treat respiratory disorders:
Asia Pacific precision medicine market size is set to go past $24 billion in valuation by 2027. Precision medicines have a wide range of applications across Central Nervous System (CNS), oncology, immunology, respiratory, and many other areas.
The respiratory ailments application was more than $700 million in 2020. Respiratory disorders, such as asthma, obstructive pulmonary disease, and idiopathic pulmonary fibrosis, among several others, are responsible for high morbidity and mortality rates in the region.
Precision medicine treatments have gained momentum among the clients in APAC region in the past few years. They use innovative methods and advanced technologies to create personalized medicines that cater to the patient’s medical needs.
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Therapeutics foster APAC market forecast:
The concept of personalized therapeutics is picking up the pace in Asia Pacific. The regional healthcare professionals are increasing their focus on developing medication for target-based treatments of various ailments, including cancer and genetic disorders.
Asia Pacific precision medicine market size from therapeutic treatments was valued at more than $5.8 billion in 2020. Therapeutics usually consist of life-saving medicines used to treat chronic illnesses, such as neurological disorders, cancer, respiratory, and immunological diseases, among many others.
Hospitals in APAC region remain notable end-users of precision medicines:
Hospitals held more than 44% revenue share of Asia Pacific market in 2020. The region is witnessing an alarming rise in the number of people getting affected by chronic ailments. It has increased the need to have specialized treatments and proper patient care. This is one of the main factors responsible for the rise in patient admissions in hospitals.
Hospitals in the region offer advanced healthcare services to patients and have a good quality infrastructure in place, resulting in a high number of patients preferring to receive treatment from hospitals.
Role of precision medicine in oncology treatments in Europe:
Europe precision medicine market size is predicted to be valued at over $27 billion by 2027. The regional industry share from oncology application reached a valuation of more than $7 billion in 2020. The number of cancer cases in the region has multiplied in recent years.
The genetic structure of the regional population is undergoing some drastic changes due to several factors, increasing the risk of being diagnosed with cancer. This aspect can dramatically change the way a patient responds to several treatments, thereby boosting the need to use precision medicines to improve the patient’s response.
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France precision medicine industry share progresses significantly:
France market share will increase at a notable CAGR of 10.5% between 2021 and 2027. The country is seeing a worrying rise in the number of people being diagnosed with cancer and various genetic disorders. The nation’s population is becoming more aware of the importance and advantages of using precision medicines to overcome chronic illnesses and are increasingly opting for this type of medication to cure a wide variety of ailments.
Genetic mutations in North Americans increases precision medicine production:
The number of cancer cases in North America is growing at a notable rate. When genetic mutations or changes can create a conducive environment for the cancer cells to grow and multiply. These changes happen at different stages for each cancer patient, which is why precision medicine treatments are highly recommended. The level of medical procedures, such as chemotherapy, radiation, and immunotherapy required will depend upon the stage and type of cancer. Precision medicines play an important role in helping physicians decide on the suitable treatment plan, based on the current genetic mutations of the patient.
Rising CNS disease cases increase precision medicine adoption in North America:
North America precision medicine market share from CNS diseases application was valued at $3.3 billion in 2020. Epilepsy, Alzheimer’s, Multiple Sclerosis, and other CNS ailments are increasing in the region. According to a report by the CDC, nearly 5.8 million people aged 65 years and above were diagnosed with Alzheimer’s in 2020. This figure is expected to reach 14 million by 2060. These factors will promote the use of precision medicines as they will offer targeted treatments and provide the best care facilities to the patients in the region.
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Access to precision medicines in North American diagnostics centers:
In North America market, diagnostics centers was valued at $5 billion in 2020. These centers offer high-quality patient care services in the region at an affordable price. Diagnostics center professionals are providing advanced treatments and the awareness surrounding the availability and benefits of precision medicine has increased their demand among the regional population.
Looking at the above-mentioned trends, the global precision medicine industry outlook will show great signs of progress. The number of hospitals and diagnostics centers is increasing in several regions to cater to the notable rise inpatient admissions. Precision medicines will be quite useful for treating a wide variety of respiratory, oncology, immunology, and CNS disorders.
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