The report for Global Precision Medicine Market of Market Research Future comprises extensive
primary research along with the detailed analysis of qualitative as well as quantitative aspects by
various industry experts, key opinion leaders to gain the deeper insight of the market and industry
performance.
Market Scenario:
Precision medicine refers to medicines developed as per an individual’s genetic profile that helps as
a guide for the prevention, diagnosis and treatment of diseases. The Global Precision Medicine
Market was valued at $38.92 billion in 2015, and is expected to reach $88.64 billion by 2022. Thus
the market is expected to perform a growth at a CAGR of 12.48% from 2015 to 2022.
The major market driving factor for precision medicine are patient’s involvement in personal
healthcare, integration of wireless technologies with portable healthcare devices, and increase in
genetic diseases (due to mutation, UV rays) among others.
The market constraints include potential threat to personal data, high diagnostic cost as a barrier,
potential risk of hardware or software failure, stringent regulations and standards, lack of awareness
about the possible applications of precision medicine, reimbursement policies and regulatory
framework, limited knowledge about the application of test and techniques, lack of research and
evidences creating hindrances in its application.
Global Precision Medicine Market, by Region 2015 & 2022 (USD million)
Key Finding:
The global precision medicine market is expected to reach USD 88.64 billion by 2022.
By ecosystem diagnostic tool companies holds the largest market share of precision medicine
market and is expected to reach USD 27.56 billion by 2022.
By sub-market, company diagnostics holds the largest market share of precision medicine
market and is expected to reach USD 21.32 billion by 2022.
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