Biotechnology Research Reports Precision Medicine Market Size

Precision Medicine Market - Insights, Size,
Share, Opportunity Analysis, & Industry
Forecast till 2025
Global Precision Medicine Market, By Technology (Bioinformatics,
Gene Sequencing, Drug Discovery, Precision Molecular,
Diagnostics, Big Data Analytics), Application (Oncology, CNS,
Hematology, Respiratory, Immunology), and Geography - Insights,
Size, Share, Opportunity Analysis, & Industry Forecast till 2025
The Global Precision Market was valued at US$ 45,720.8 million in 2016 and is projected
to exhibit a CAGR of 9.9% over the forecast period (2017–2025), as highlighted in a new
report published by Coherent Market Insights. Increase in adoption of personalized
medicine, in turn, is projected to support the growth of precision medicine market over the
forecast period. Manufacturers are focusing on innovation to tap into emerging markets.
For instance, Synapse, Inc. and Strata Oncology, Inc., together, implemented an end to
end precision oncology program to improve the outcomes of the treatment with reduced
costs, as the companies are selecting the most promising precision medicine clinical
trials. Strata Oncology, Inc. also launched Strata NGS test in May 2017, which is designed
for 90 gene targeted assay that focuses on genetic alterations in tumor tissue and
includes standard care markers and clinical trial eligibility markers. AstraZeneca launched
a next-generation asthma drug in 2016 named, Benralizumab for eosinophil biomarker,
which is a part of the new way of biological treatments for people with asthma, as
AstraZeneca is moving toward precision medicine to resolve the disease. The Food and
Drug Administration approved the first gene therapy, Kymriah (tisagenlecleucel) on
August 2017, which was developed by Novartis for the treatment of patients below 25
years of age with B-cell precursor acute lymphoblastic leukemia. This therapy represents