October 5, 2018 – ROGM – Research On Global Markets, a global market research firm, published a report on the global precision medicine market today. The report, prepared by Netscribes, shows that the market is expected to have a significant compounded annual growth rate (CAGR) of 12.71% and be worth USD 96.07 Bn by 2023.
The concept of precision medicine is gaining considerable popularity in the healthcare community, owing to innovations like next-generation sequencing, molecular biomarker analysis, and much more. With such cutting-edge technological advancements, precision medicine plays a vital role in preventing and treating various diseases. North America dominates the global market for precision medicine in terms of volume, due to the higher incidence of cancer and government initiatives in the region.
However, threats to personal data, high diagnostic costs, and the risks of hardware and software failure are some of the factors that are expected to hinder market growth in the foreseeable future.
Key highlights of this report:
• Drivers and challenges in the global precision medicine market
• Trends in the global precision medicine market
• Analysis of the competitive landscape and profiles of major companies operating in the market
• Historical, current and forecasted market size data for the therapeutics segment
• Historical, current and forecasted market size data for the ecosystem players segment
• Historical, current and forecasted market size data for the technology segment
This report has been formulated and designed with the purpose of giving businesses around the world a concise understanding of the demand for precision medicines, to determine the viability of the market, develop strategies based on the drivers, and help brands identify competition and respond accordingly.
For more information, download the Global Precision Medicine Market report.