Precision medicine refers to the medicine developed as per an individual’s genetic profile. It provides guidance regarding the prevention, diagnosis, and treatment of diseases. The segmentation of the population is done depending on the genome structure of the individuals and their compatibility with a specific drug molecule. In the precision medicine market, the application of molecular biology is to study the cause of a patient's disease at the molecular level, so that target-based therapies or individualized therapies can be applied to cure the patient's health-related problems. This industry is gaining traction due to the increasing awareness about healthcare among individuals, integration of smart devices such as smartphones and tablets into healthcare, and increasing collaborations and agreements of IT firms with the diagnostics and biopharmaceutical companies for the development of precision diagnostic tools.

The global precision medicine market is expected to reach $278.61 billion by the end of 2030. The market is projected to grow at a CAGR of 11.13% during the forecast period, 2020-2030.

View the Report - Precision Medicine Market

The current precision medicine market is mainly dominated by several majors, such as Abbott Laboratories, Almac Group Ltd, Amgen Inc., ANGLE plc, Astellas Pharma Inc, Astra Zeneca PLC, ASURAGEN INC., Bio-Rad Laboratories, Inc., bioMérieux SA., Bristol-Myers Squibb Company, Cardiff Oncology, CETICS Healthcare Technologies GmbH, Danaher Corporation, Eli Lilly and Company Limited, Epic Sciences, Inc., F. Hoffmann-La Roche Ltd, GE Corporation, Gilead Sciences, Inc., GlaxoSmithKline Plc, Illumina, Inc. Intomics A/S, and Johnson Johnson Company, Konica Minolta, Inc.

The comprehensive study of the global precision medicine market by BIS Research extensively covers the following:

• Market numbers on micro-segments that are influencing the market 
• More than 1500 products present in the market
• Pricing data for more than 500 products
• Over 350 brands were evaluated 
• Market share analysis for more than 20 product categories
• End-user preference data for over 50 end users
• Detailed global and regional market share analysis including the scrutiny of more than 15 countries 
• Study of data of more than 60 companies

Competitive Landscape

Major players, such as Abbott Laboratories, Almac Group Ltd, Amgen Inc., ANGLE plc, Astellas Pharma Inc, Astra Zeneca PLC, ASURAGEN INC., Bio-Rad Laboratories, Inc., bioMérieux SA., Bristol-Myers Squibb Company, Cardiff Oncology, CETICS Healthcare Technologies GmbH, Danaher Corporation, Eli Lilly and Company Limited, Epic Sciences, Inc., F. Hoffmann-La Roche Ltd, GE Corporation, Gilead Sciences, Inc., GlaxoSmithKline Plc, Illumina, Inc., Intomics A/S, Johnson Johnson Company, Konica Minolta, Inc., Laboratory Corporation of America MDx Health, Inc., Menarini Silicon Biosystems, Inc., Merck Co., Inc., Myriad Genetics, Inc., Novartis AG., Oracle Corporation, Partek, Inc., Pfizer, Inc., QIAGEN N.V., Quest Diagnostics Inc., Randox Laboratories Ltd., Sanofi SA, Sysmex Corporation, Teva Pharmaceuticals Industries Ltd., Thermo Fisher Scientific, Inc. including among others, led the number of key developments witnessed by the market. On the basis of region, North America is expected to retain a leading position throughout the forecast period 2020-2030, followed by Europe.

Key insights are drawn from in-depth interviews with the key opinion leaders of more than 40 leading companies, market participants, and vendors.

The key players profiled in the report include Abbott Laboratories, Almac Group Ltd, Amgen Inc., ANGLE plc, Astellas Pharma Inc., Astra Zeneca PLC, ASURAGEN INC., Bio-Rad Laboratories, Inc., bioMérieux SA., Bristol-Myers Squibb Company, Cardiff Oncology, CETICS Healthcare Technologies GmbH, Danaher Corporation, Eli Lilly and Company Limited, Epic Sciences, Inc., F. Hoffmann-La Roche Ltd, GE Corporation, Gilead Sciences, Inc., GlaxoSmithKline Plc, Illumina, Inc., Intomics A/S, Johnson Johnson Company, Konica Minolta, Inc., Laboratory Corporation of America, MDx Health, Inc., Menarini Silicon Biosystems, Inc., Merck Co., Inc., Myriad Genetics, Inc., Novartis AG, Oracle Corporation, Partek, Inc., Pfizer, Inc., QIAGEN N.V., Quest Diagnostics Inc, Randox Laboratories Ltd., Sanofi SA, Sysmex Corporation, Teva Pharmaceuticals Industries Ltd., and Thermo Fisher Scientific, Inc.

The report also offers strategic recommendations that can help organizations in tracking various products, trends, and technologies that are changing the dynamics of the market. The recommendations by BIS Research also offer bespoke research services to help organizations meet their objectives.

Who should buy this report?

• Manufacturers of instruments, kits, assays, software, platforms, and consumables
• Companies in the services market of the precision medicine market

How can this market intelligence report on precision medicine add value to an organization's decision-making process?

• Aid in product development
• Help in targeting a segment for launching a new product
• Offers go to market strategies for different source type
• Support in diversifying the product portfolio basis risk and progression of technology
• Help in analyzing technological substitutes and compare the specification
• Offer tailor-made solutions based on the throughput of different labs
• Aid in understanding the end-user requirement
• Assist in exploring the newer application
• Support in analyzing the competitors' funding scenario

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Insightful Questions Covered to Enable Companies take Strategic Decisions

• What are the estimated and projected numbers for the global precision medicine market for 2020 and 2030?
• What are the drivers, challenges, and opportunities that are influencing the dynamics of the market?
• What is the competition layout of the market?
• What are the parameters on which competition mapping is carried out in the study?
• Which key development strategies are being followed and implemented by major players to help them sustain in the market?
• How are different segments of the market expected to perform during the forecast period from 2020 to 2030? The segments included in the comprehensive market study are:
• product type
• region
• technology
• application
• Which leading players are currently dominating the market, and what is the expected future scenario?
• Which companies are anticipated to be highly disruptive in the future, and why?
• How can the changing dynamics of the market impact the market share of different players operating in the market?
• What are the strategic recommendations offered in the study?

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