Market Research Reports Global Precision Medicine Market | Page 2

and precision medicines for treating cancer, owing to its increasing prevalence worldwide, will drive its
growth in the foreseeable future. Central nervous system (CNS) disorders and infectious diseases held
market shares of 20% and 16%, respectively. The precision medicine market for respiratory diseases is
foreseen to grow at a very high rate, owing to the growth of diseases such as asthma, chronic
obstructive pulmonary disease (COPD), idiopathic pulmonary fibrosis, etc.
Technology segment insights
Pharmacogenomics held the largest market share (24%) in 2018, followed by genomics. The
technological and analytical developments in genomics have made it easier to identify and interpret the
genetic variation underlying a disease, thereby contributing to the rapid growth of genomics. The
market for genomics is also projected to expand at the highest CAGR of 13.67% during 2018–2023. Big
data analytics is also expected to show fast growth during the forecast period.
Regional insights
North America leads the global precision medicine market with a share of 43%, followed by Europe with
a 26% share. These regions are primarily driven by supportive policies and initiatives by the government,
a strong presence of market players, and quick adoption of advanced healthcare technology and
practices. Asia-Pacific is expected to emerge as the fastest growing region in this market with the
highest CAGR of 13% during the forecast period.
MajorPlayers profiled in the Precision Medicine Market report incorporate: Abbott Laboratories, GE
Healthcare, GlaxoSmithKline (GSK), Johnson& Johnson, Pfizer, Randox Laboratories, Almac Group,
Novartis AG, Teva Pharmaceutical industries, Quest Diagnostics
Latest Industry News
GlaxoSmithKline plc today announced a five-year collaboration with the University of California to
establish a state-of-the-art laboratory for CRISPR technologies, the Laboratory for Genomics Research
(LGR). The new laboratory will explore how gene mutations cause disease and develop new technologies
using CRISPR to rapidly accelerate the discovery of new medicines.
Region segment: This report is segmented into several key regions, with sales, revenue, market share
(%) and growth Rate (%) of Precision Medicine in these regions, from 2014 to 2023 (forecast), covering:
North America, Europe, Asia Pacific, Middle East & Africa and South America.
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Significant points in table of contents: Market Definition, Market Overview, Business Introduction,
Segmentation (Region Level), Segmentation (Type Level), Segmentation (Industry Level), Segmentation
(Channel Level), Market Forecast Year, Segmentation Type, Segmentation Industry, Market Cost
Analysis, and Conclusion.