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The precision medicine market is forecasted to achieve notable growth in the coming few years with a forecast CAGR (compound annual growth rate) of 13%, as per The Business Research Company’s market report!

Read More On The Precision Medicine Market Report 2022 – https://www.thebusinessresearchcompany.com/report/precision-medicine-global-market-report

The Precision Medicine Market Size In 2022 And Forecast

The global precision medicine market is expected to grow from $62.75 billion in 2020 to $72.58 billion in 2021 at a compound annual growth rate (CAGR) of 15.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The precision medicine market is expected to reach $118.32 billion in 2025 at a CAGR of 13%.

The precision medicine market consists of sales of precision medicines and related services by entities (organizations, sole traders, and partnerships) that are used to treat diseases by relying on genomics and specific biomarker techniques.

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Rise In Prevalence Of Cancer Is Driving The Growth Of The Precision Medicine Market

For instance, according to the International Agency for Research on Cancer (IARC), the global cancer burden increased to 19.3 million cases and 10 million cancer deaths in 2020. Therefore, the rising prevalence of cancer drives the growth of the precision medicine market.

Competitive Landscape And The Regional Analysis Of The Precision Medicine Market

Major players in the precision medicine market are Qiagen, Novartis AG, Medtronic, AstraZeneca plc., Quest Diagnostics, Thermo Fisher Scientific Inc., Pfizer, Bristol-Myers Squibb, Merck & Co. Inc. and Tepnel Pharma Services.

The Precision Medicine Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the precision medicine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the precision medicine market.

Developing Of Novel Precision Medicine For Pancreatic Cancer – A Key Trend In The Precision Medicine Market

Extensive research is being undertaken on different approaches to develop precision medicines for pancreatic cancer.

Precision Medicine Market Segmentation By The Business Research Company

1) By Technology: Big Data Analytics, Bioinformatics, Gene Sequencing, Drug Discovery, Companion Diagnostics, Others

2) By Application: Oncology, Respiratory Diseases, Central Nervous System Disorders, Immunology, Genetic Diseases, Others

3) By End-User: Hospitals and Clinics, Pharmaceuticals, Diagnostic Companies, Healthcare and IT Firms, Others

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