The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Precision Diagnostics Global Market Report 2023, the precision diagnostics market is expected to show significant growth in the forecast period.

Key insights from the precision diagnostics market forecast include:

1. Market Size

The global precision diagnostics market is expected to grow from $75.28 billion in 2022 to $85.73 billion in 2023 at a compound annual growth rate (CAGR) of 13.9%. The size of precision diagnostics market is expected to reach $142.53 billion in 2027 at a CAGR of 13.6%.

2. Major Driver

The rising prevalence of chronic diseases is expected to propel the growth of the precision diagnostics market going forward. A chronic disease is a form of illness that lasts three months or more and can deteriorate with time. Precision diagnostics help patients suffering from chronic diseases such as cancer and cardiovascular diseases by precisely managing a patient’s healthcare model and diagnosing the disease with accurate results. For instance, in January 2023, according to the National Library of Medicine, a US-based agency, the number of people in the US aged 50 and older who have at least one chronic condition would increase by 99.5%, from 71.522 million in 2020 to 142.66 million by 2050. Therefore, the rising prevalence of chronic diseases is driving the growth of the precision diagnostics market.

View More On The Precision Diagnostics Market Report 2023 – https://www.thebusinessresearchcompany.com/report/precision-diagnostics-global-market-report

3. Key Trend

The introduction of innovative therapy is a key trend gaining popularity in the personalized medicine market. Major companies operating in the precision diagnostics market are adopting new technologies to sustain their position in the market. For instance, in July 2021, Xyall BV, a Netherlands-based automated tissue dissection solution company, launched Automated High Throughput (HT) system for greater precision diagnostics. This is a first in the world, allowing high-volume molecular diagnostic laboratories to commercialize the company’s unique, automated tissue dissection technology.

4. Largest Region

North America was the largest region in the precision diagnostics market in 2022.

5. Major Players

Major players in the precision diagnostics market are Pfizer Inc., F. Hoffmann-La Roche Ltd., Bayer AG, Novartis AG, Abbott Laboratories, Danaher Corporation, Amgen Inc., Koninklijke Philips N.V., Becton Dickinson and Company (BD), Thermo Fisher Scientific Inc., Quest Diagnostics Inc., Siemens Healthineers AG, Agilent Technologies Inc., PerkinElmer Inc., Beckman Coulter Inc., Charles River Laboratories International Inc., Sysmex America Inc., Waters Corporation, Bio-Rad Laboratories Inc., Bruker Corporation, Qiagen N.V., Bio-Techne Corporation, Illumina Inc., Lantheus Medical Imaging Inc., Luminex Corporation, BioFire Diagnostics LLC, Genomic Health Inc., Swiss Precision Diagnostics GmbH, and Bluebird Bio Inc.

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Key Precision Diagnostics Market Segments
The global precision diagnostics market is segmented –
1) By Type: Genetic Tests, Esoteric tests, Other Types
2) By Technology: Next Generation Sequencing (NGS), Polymerase Chain Reaction (PCR), In Situ Hybridization (ISH), Mass Spectrometry, Immunohistochemistry (IHC), Other Technologies
3) By Application: Oncology, Infectious diseases, Cardiovascular, Neurology, Genetic disorders, Other Applications
4) By End-User: Hospitals And Clinics, Diagnostic Laboratories, Research Institutes, Pharmaceutical and biotechnology Companies, Other End-Users

The Precision Diagnostics Global Market Report 2023  provides an in-depth analysis on the precision diagnostics market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the precision diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
Precision Medicine Global Market Report 2023
Precision Guided Munition Global Market Report 2023
In Vitro Diagnostics Global Market Report 2023

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