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Precision Medicine Market size worth $87.7bn by 2023

Precision Medicine Market size was over USD 39 billion in 2015, and is anticipated to grow at 10.5% CAGR from 2016 to 2023.

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Precision Medicine Market size worth $87.7bn by 2023

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  1. Precision Medicine Market size worth $87.7bn by 2023

  2. Global Market Scenario of Precision Medicine • Precision Medicine Market size was over USD 39 billion in 2015, and is anticipated to grow at 10.5% CAGR from 2016 to 2023. • Increasing demand for personalized medicine specifically in cancer treatments and advancements in new healthcare technologies will drive precision global medicine market size. • The Favorable government regulations and standards will help sustain revenue growth.  • Recent research advances have helped expand benefits to various aspects of healthcare by enabling better understanding of disease mechanisms, assessment of disease risks and prediction of optimal therapy. • A large number of investments in diagnostic research will further accelerate the shift from treatment to preventive medicine in healthcare. • https://www.gminsights.com/industry-analysis/precision-medicine-market

  3. Continue..... • The individualized diagnosis approach has dramatically improved owing to large-scale biologic database development, efficient methods for patient characterization, and computational tools to analyze large data sets. • Emphasizing the need for public health database, The White House dedicated USD 55 million for creation of its largest database ‘Precision Medicine Initiative’ (PMI).  • Precision medicine is a novel method for treatment and prevention of chronic diseases based on the variability in individual genes and other lifestyle characteristics. • The new approach enables doctors to better assess disease risk, and predict the optimal therapy. • President BarackObama announced the Precision Medicine Initiative (PMI) in 2015 to revolutionize the concept of medicine and generate scientific evidence required for the development of precision medicine. • US FDA would receive USD 10 million as a part of the initiative for building the database to support the research and regulation. • Get more detail @ https://www.gminsights.com/industry-analysis/precision-medicine-market

  4. Europe precision medicine market size, by application, 2013 - 2023 (USD Million) https://www.gminsights.com/request-sample/detail/671

  5. 360° Analysis • Technology Analysis • Drug discovery technology was valued at over USD 9 billion in 2015, and is estimated to expand at 8.3% CAGR from 2016 to 2023. Biomarker-directed therapies with drugs targeting epidermal growth factor receptor (EGFR), anaplastic lymphoma kinase (ALK), c-rosoncogene 1 receptor tyrosine kinase (ROS1) have accelerated the development of novel anticancer drugs. • Regional Analysis • U.S. precision medicine market share was 65% of the North American revenue in 2015, mainly on account of favorable regulatory landscape. The President’s budget has allocated USD 215 million to NIH, NCI, and FDA for development of novel solutions. • Competitive Market Share • Key industry players contributing to global precision medicine market share include Pfizer, Roche, Covance, Novartis, Qiagen, Biocrates Life Sciences, Teva Pharmaceutical, Nanostring Technologies, Laboratory Corporation of America Holdings, TepnelPharma Services, Intomics, FerrerInCode, Silicon Biosystems, Eagle Genomics, Medtronic, and Quest Diagnostics. Roche is developing an integrated genomics portfolio for next generation sequencing (NGS).  • Get more detail @ https://www.gminsights.com/industry-analysis/precision-medicine-market

  6. Latest Research Report On Precision Medicine Market@ https://www.gminsights.com/industry-analysis/precision-medicine-market Download Latest Report PDF @ https://www.gminsights.com/request-sample/detail/671

  7. Stay In Touch You can visit us at: www.gminsights.com

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