Precision Medicine Market forecast to witness growth of 10.5% from 2016 to 2023

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Precision Medicine Market forecast to reach
87.7bn by 2023 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Precision Medicine Market

• Global Precision Medicine Market size is driven
  by growing occurrence of cancer and increase in
  cancer prone geriatric population all across the
  globe.
• Global Precision Medicine Market size was more
  than 39.1 billion for 2015 and is predicted to
  register 10.51 of CAGR during forecast
  timeframe.
• It is innovative procedure for treating and
  preventing chronic ailments depending upon
  changes in individual genes and other lifestyle
  features. New approach helps doctors properly
  assess ailment risk and predict optimal
  treatment.
• The industry is segmented into different
  technologies like gene sequencing, companion
  diagnostics, big data analytics, bioinformatics
  and drug discovery.
• Gene sequencing segment size was more than 8.1
  billion for 2015. Current FDA guidelines on next
  -generation sequencing dependent tests takes into
  consideration individual differences in genes of
  various persons, environments and life patterns
  while creating new type of healthcare.

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Continued...

• Companion diagnostics segment has acquired
  importance owing to rising concerns about rates
  of drug failures. Further, the segment is
  expanding at rapid pace owing to rise in
  financial support and approvals by government.
• Heavy throughput omics techniques applied in
  biological and basic research are predicted to
  propel bioinformatics segment growth. Out of all
  omics techniques next-generation technique is
  predicted to create key impact on the segment
  growth.
• Drug discovery technique contributed more than 9
  billion for 2015 and is predicted to register
  CAGR of 8.31 during forecast timeframe.
• Global industry is segmented into various
  applications like respiratory application,
  oncology application, Immunology application and
  central nervous system (CNS) application.
• Oncology application contributed more than 30.1
  of precision medicine market share for 2015 and
  is predicted to record CAGR of 10.91 during
  forecast timeframe.

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Continued...

• CNS application contributed more than 9.1
  billion for 2015. Neuroscience therapeutics has
  been utilizing the approach for long duration.
• Global industry was segmented into key
  geographical regions like North America, MEA,
  Europe, APAC and Latin America.
• U.S. precision medicine market share was about
  65.1 of revenue of North America.
• Germany precision medicine market share was more
  than 2.5 billion for 2015 and is predicted to
  contribute significantly to the growth of
  European industry.
• China contributed more than 25.1 to APAC
  precision medicine market share for 2015 and is
  predicted to remain key region in future.
• Key industry players profiled in the report
  include Roche Holdings AG, Qiagen, Pfizer,
  Medtronic, Source Precision Medicine
  Incorporation, Silicon Biosystems, Tepnel Pharma
  Services, Covance, Biocrates Life Sciences AG,
  Novartis, Nanostring Technologies, Laboratory
  Corporation of America Holdings, Quest
  Diagnostics, Teva Pharmaceuticals, Intomics,
  Ferrer InCode, Eagle Genomics Limited and Quest
  Diagnostics.

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

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