Precision Medicine Market size worth $87.7bn by 2023

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Precision Medicine Market size worth 87.7bn by
2023
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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/preci
  sion-medicine-market

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• 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 Barack Obama 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.
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  try-analysis/precision-medicine-market

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Europe precision medicine market size, by
application, 2013 - 2023 (USD Million)

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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-ros oncogene 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
  Presidents 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, Tepnel Pharma Services, Intomics,
  Ferrer InCode, Silicon Biosystems, Eagle
  Genomics, Medtronic, and Quest Diagnostics. Roche
  is developing an integrated genomics portfolio
  for next generation sequencing (NGS). 
• Get more detail _at_ https//www.gminsights.com/indus
  try-analysis/precision-medicine-market

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Latest Research Report On Precision Medicine
 Market _at_ https//www.gminsights.com/industry-anal
ysis/precision-medicine-market Download Latest
Report PDF _at_ https//www.gminsights.com/request-sa
mple/detail/671
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