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The segmentation of the market for precision medicine is done based on technology ( big data analytics , bioinformatics , gene sequencing , drug discovery , companion diagnostics and others ), and application ( oncology , CNS , immunology , respiratory medicine , infections and others ). The oncology segment holds the largest market share of USD XX million , followed by the CNS and immunology segments .
The drug discovery market holds the largest share of USD XX million , followed by gene sequencing and companion diagnostics . In August 2014 , UK Prime Minister David Cameron announced EUR 300 million funding for a four-year project to map 100,000 peoplegenomes by 2017 . Big data analytics is expected to grow at the highest CAGR during the forecast period .
Based on geography , the market is segmented into North America , Europe , Asia-Pacific , Latin America , and the Middle East & Africa . The North American market dominates the global precision medicine market with the USA contributing the highest share of revenue , followed by Europe . The spread of analytics and awareness of its potential are increasing at a rapid rate in Europe . The market in the APAC region is growing at a fast pace . This can be attributed to the developments in China and India .
Many players in this market are trying to expand their product portfolio in order to top the global market . While some companies are entering the market by acquisitions , top companies are expanding their growth in this market by acquiring other companies . A few companies have adopted product innovation and new product launches as their key business strategy to ensure their dominance in this market . The major French drug company Sanofi has recently announced that their drug Praluent , which can significantly reduce low-density lipoprotein cholesterol , has received approval from the European Commission for treating adult patients suffering from hypercholesterolemia and LDL cholesterol .
Some of the key players in the market are : Covance Ferrer InCode Intomics Nanostring Technologies Pfizer Silicon Biosystems Tepnel Pharma Services
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What the Report Offers Market analysis for the precision medicine market , with region-specific assessments and competition analysis on the global and regional scale . Market definition along with the identification of key drivers and restraints . Identification of factors instrumental in changing the market scenario , rising prospective opportunities , and identification of key companies that can influence this market on a global and regional scale .
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