Market Scenario:
An emerging disease treatment approach which is built based upon individual variability in genes, environment, and personal lifestyle is referred to as precision medicine. The precision medicine can also be termed as personalized medicine. Precision medicine is a mode of medicine that joins standardization with individualization. The benefit offered by this approach of treatment include accurate treatment prediction and strategies for prevention of a particular disease that works for a particular group of people. The standardized medicines marketed have the limitation of a ‘one-size fits-all’ approach, which may or may not be suitable for every patient owing to genetic differences.
Precision medicine is a relatively novel concept and technology that has now become a major business investment domain for major pharma companies. With the help of precision medicine, the diagnosis as well as diseases treatment is easier by depending on genomics as well as specific biomarker techniques. A precision based approach helps to to formulate medicines that result in new insights into disease biology. Thus, it becomes easier for physicians to make selection of the right drugs, optimal dosage and time for medicine usage coupled with least side effect.
Moreover, high awareness pertaining to the benefits of adaptation of precision medicine is promoting this market growth. Other factors such as intense research, along with severe unmet needs in various diseases, especially oncology is further bolstering the market growth. Moreover, favorable government regulations and support in developed economies is driving the market growth. However, the high price of these therapies is expected to hamper the market growth.
Request a Sample Report @ https://www.xpodenceresearch.com/Request-Sample/105719
Key Players:
Some of the industry players in precision medicine market include:
• Quest Diagnostics. F-Hoffmann La Roche
• Novartis AG
• Teva Pharmaceuticals
• Qiagen, Inc.
• Medtronic
• Illumina, Inc.
• Pfizer, Inc.
Market Segments:
The global precision medicine market has been segmented based on the type of technology, application and geography.
• On the basis of type of technology, the precision medicine market has been classified into big data analytics, sequencing, companion diagnostics, drug discovery, and bio-informatics.
• On the basis of application, Based on application, the global market is divided into neurology, cardiology, oncology, Infectious disease, hematology, endocrinology and others.
• On the basis of regions, the global precision medicine market is divided North America, Europe, Latin America, Asia Pacific, Latin America and Middle East and Africa.
Regional Analysis:
The North American market is anticipated to be the major markets in the precision medicine market. Factors such as high rate of adoption of leading edge technologies, favorable legal environment owing to certain grants and initiatives granted by the government are leading to high regional market growth. For instance, in January 2015, the U.S. President launched the Precision medicine initiative that included high funding request of US$ 215 million in the 2016 federal budget. The G erman precision medicine market is anticipated to register considerable growth over the future years. Supportive government initiatives such as launch of Individualized Medicine action plan coupled with increasing use of electronic health records for optimum healthcare outcomes is set to drive regional market growth.
Browse Report @ https://www.xpodenceresearch.com/Reports/Precision-Medicine-Market
About us:
Xpodence Research have the most extensive collection of market research reports of many categories. Xpodence Research provides the best market research solution for every industry by publishing the best possible results of great market research firms worldwide. For every particular problem, there’s a particular solution, so according to the customer needs, we provide the best possible results to them from different market research organization, whether it’s a Custom Research or Syndicated Research reports because the product that wins is the one that bridges customers to the future, not the one that requires a giant leap.
Every organization, whether it is related to Pharmaceuticals, Technology, Eatables, Consumable Goods and many more demands a market research results so that they can take important decisions for more productivity and better output in this swift world. Xpodence Research gives the best possible outcome, perfect forecast, analysis and insights of market research in the form of report which is beneficial for various organisations and also to the manufacturing companies in taking the best decisions for quality production.
Contact us:
Xpodence Research
244 , Madison Avenue
New York City, NY - 10016
United States
Toll Free +1- 844-445-2861
Email: [email protected]