Biotechnology Research Reports Precision Medicine Market Size | Page 2

a shift from chemotherapy to precision medicine. Furthermore, The University of
Southampton in Britain is conducting a phase 2 clinical trial in 2017 for testing whether
the addition of acalabrutinib to R-CHOP could improve outcomes of patients with diffuse
large B-cell lymphoma (DLBCL) and then the trial researchers will gather the data on
gene expression of DLBCL patients as a part of precision medicine for aggressive
lymphoma consortium that supports the growth of precision medicine in hematology in
near future.
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Manufacturers are also collaborating to strengthen their product portfolios related to
precision medicine. Precision for Medicine, Inc., in 2016, signed a deal to acquire ACT
Oncology, which is expected to strengthen the company’s position in personalized cancer
clinical trial space. On August 2017, Variantyx, a genetic testing company announced a
partnership with FDNA, which has a facial recognition software that has revolutionized
the diagnosis method of the rare diseases and is expected to fulfill the demand of patients
and offer them precision medicine. Alexion Pharmaceuticals announced a partnership
with Sema4 on August 2017, to improve the company’s diagnosis rate of the rare
diseases and also speedup drug discoveries in near future. Precision for Medicine Group,
Inc. acquired the Agility Clinical, a contract research organization, on September 2017,
which focuses on clinical development of rare diseases and orphan therapies. This
acquisition is expected to bring new precision medicine in the market. Nevertheless, lack
of reimbursement policy is expected to act as a restraint for the growth of precision
medicine market.
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Key Takeaways of the Market: The global precision medicine market is expected to
exhibit a CAGR of 9.9% over the forecast period (2017–2025), owing to the significant
adoption rate of precision medicines and the robust advancements in the industry Asia
Pacific is expected to exhibit a high growth rate, in terms of value, over the forecast period
Among application type, oncology segment is expected to exhibit a significant CAGR of
10.4% The global precision medicine market is characterized by market expansion in Asia
Pacific, North America, and Europe, which is expected to generate higher market revenue