Global Precision Medicine Market Size, Share, Analysis and Forecast 2026

Report Description

Global precision medicine market was valued USD66.85 billion in 2020 and is expected to reach USD125.67 billion, growing at CAGR of 10.65% during the forecast period. The global precision medicine market is driven by the growing geriatric population which is vulnerable to various chronic and infectious diseases. This has in turn has elevated the demand for precision medicine for screening and diagnosing disorders in the aging population. Additionally, growing research & development expenditure across different countries across the globe is further expected to fuel the market growth over the next few years. Growing importance of personalized treatment and diagnostics in the healthcare industry is expected to create lucrative opportunities for the market growth.

The global precision medicine market is segmented based on products & services, technology, application, end user, and region. The application segment can further be categorized into oncology, cardiology, respiratory, neurology, immunology and others. The oncology segment is expected to dominate the market in 2020 with an overall market share of around 34.75%. This can be ascribed to the growing prevalence of different types of cancers worldwide and development of new treatments for the diagnosis and treatment of cancer. According to the Global Cancer Observatory, Globocan 2020, there were around 19,292,789 new cancer cases reported globally in 2020. Out of these new cancer cases reported, 10,065,305 included men of all ages while new cancer in women of all ages were around 9,227,484.

Regionally, North America dominated the global precision medicine market in 2020 with a market share of around 38.77% on account of significant rise in cancer incidences in the region. In 2020, cancers, such as prostate, lung, and colorectal, accounted for approximately 43% of all cancers diagnosed in men. In case of women, breast, lung, and colorectal cancers are the most common cancers and they account for an estimated 50% of all new cancer diagnoses in women in the year 2020. Additionally, growing burden of different diseases is further expected to fuel the market growth.

The global precision medicine market is fragmented with a lot of well-established as well as smaller unorganized players and several regional players. Also, there are many players who are emerging out and seeking to make a market entry. The market includes few companies who specialize in precision medicine service as a whole and few players who provide products, software, tools, etc. Major players operating in the market include IBM Corporation, F. Hoffmann-La Roche AG, Thermo Fischer Scientific Inc., Koninklijke Philips N.V., Illumina Inc., Quest Diagnostics Inc., QIAGEN NV, AstraZeneca PLC, Agilent Technologies Inc., Novartis International AG, NanoString Technologies Inc., NantHealth Inc., Orion Health Inc., Celcuity Inc., InsightRX Inc., among others. These companies are adopting organic strategies such as mergers & acquisitions, product launches, among others in order to stay competitive in the market and are having an edge over the other players in the industry. For instance, in February 2020, NanoString Technologies made an announcement that they have featured spatial genomics research which widens their portfolio using GeoMx to be focused on genome biology and technology.

Years considered for this report:

Historical Years: 2016-2019

Base Year: 2020

Estimated Year: 2021

Forecast Period: 2022-2026

Objective of the Study:

To analyze the historical growth in the market size of the global precision medicine market from 2016 to 2020.
To estimate and forecast the market size of global precision medicine market from 2021 to 2026 and growth rate until 2026.
To classify and forecast global precision medicine market based on products & services, technology, application, end user, and region.
To identify drivers and challenges for global precision medicine market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global precision medicine market.
To identify and analyze the profile of leading players operating in global precision medicine market.

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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of precision medicine service providers and manufacturers of equipment and kits used in precision medicine across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the precision medicine service providers and manufacturers of equipment and kits used in precision medicine which could not be identified due to the limitations of secondary research. TechSci Research analyzed the precision medicine service providers and manufacturers of equipment and kits used in precision medicine and presence of all major players across the globe.

TechSci Research calculated the market size of global precision medicine market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these segments for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

Precision medicine service providers and manufacturers of equipment and kits used in precision medicine
Government bodies such as regulating authorities and policy makers
Organizations, forums and alliances related to precision medicine
Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers and manufacturers of equipment and kits used in precision medicine etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, global precision medicine market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Global Precision Medicine Market, By Products & Services:

Precision Medicine Platforms
Precision Medicine Tools
Precision Medicine Services

Global Precision Medicine Market, By Technology:

o Big Data Analytics

o Artificial Intelligence

o Bioinformatics

o Whole Genome Sequencing

o Companion Diagnostics

o Next Generation Sequencing (NGS)

o Others

Global Precision Medicine Market, By Application:

o Oncology

o Cardiology

o Respiratory

o Neurology

o Immunology

o Others

Global Precision Medicine Market, By End User:

o Pharmaceutical and Biotechnology Companies

o Healthcare IT

o Diagnostic Companies

o Clinical Research Organization

Research Institutes

Global Precision Medicine Market, By Region:

North America

United States
Canada
Mexico

Europe

Germany
United Kingdom
France
Italy
Spain

Asia Pacific

China
India
Japan
South Korea
Australia
Singapore

South America

Brazil
Argentina
Colombia

Middle East & Africa

South Africa
Saudi Arabia
UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global precision medicine market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five)

Table of content

1. Product Overview

2. Research Methodology

3. Impact of COVID-19 on Global Precision Medicine Market

4. Executive Summary

5. Voice of Customer

5.1. Brand Awareness

5.2. Impact of Precision Medicine on Different Therapeutic Areas

5.3. Barriers to Precision Medicine

6. Global Precision Medicine Market Outlook, 2016-2026F

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Products & Services (Precision Medicine Platforms, Precision Medicine Tools, Precision Medicine Services)

6.2.2. By Technology (Big Data Analytics, Artificial Intelligence, Bioinformatics, Whole Genome Sequencing, Companion Diagnostics, Next Generation Sequencing (NGS), Others)

6.2.3. By Application (Oncology, Cardiology, Respiratory, Neurology, Immunology, Others)

6.2.4. By End User (Pharmaceutical and Biotechnology Companies, Healthcare IT, Diagnostic Companies, Clinical Research Organization, Research Institutes)

6.2.5. By Company (2020)

6.2.6. By Region

6.3. Product Market Map

7. North America Precision Medicine Market Outlook, 2016-2026F

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Products & Services

7.2.2. By Technology

7.2.3. By Application

7.2.4. By End User

7.2.5. By Country

7.3. North America: Country Analysis

7.3.1. United States Precision Medicine Market Outlook, 2016-2026F

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Products & Services

7.3.1.2.2. By Technology

7.3.1.2.3. By Application

7.3.1.2.4. By End User

7.3.2. Canada Precision Medicine Market Outlook, 2016-2026F

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Products & Services

7.3.2.2.2. By Technology

7.3.2.2.3. By Application

7.3.2.2.4. By End User

7.3.3. Mexico Precision Medicine Market Outlook, 2016-2026F

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Products & Services

7.3.3.2.2. By Technology

7.3.3.2.3. By Application

7.3.3.2.4. By End User

8. Europe Precision Medicine Market Outlook, 2016-2026F

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Products & Services

8.2.2. By Technology

8.2.3. By Application

8.2.4. By End User

8.2.5. By Country

8.3. Europe: Country Analysis

8.3.1. Germany Precision Medicine Market Outlook, 2016-2026F

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Products & Services

8.3.1.2.2. By Technology

8.3.1.2.3. By Application

8.3.1.2.4. By End User

8.3.2. United Kingdom Precision Medicine Market Outlook, 2016-2026F

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Products & Services

8.3.2.2.2. By Technology

8.3.2.2.3. By Application

8.3.2.2.4. By End User

8.3.3. France Precision Medicine Market Outlook, 2016-2026F

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Products & Services

8.3.3.2.2. By Technology

8.3.3.2.3. By Application

8.3.3.2.4. By End-User

8.3.4. Italy Precision Medicine Market Outlook, 2016-2026F

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Products & Services

8.3.4.2.2. By Technology

8.3.4.2.3. By Application

8.3.4.2.4. By End User

8.3.5. Spain Precision Medicine Market Outlook, 2016-2026F

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Products & Services

8.3.5.2.2. By Technology

8.3.5.2.3. By Application

8.3.5.2.4. By End User

9. Asia Pacific Precision Medicine Market Outlook, 2016-2026F

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Products & Services

9.2.2. By Technology

9.2.3. By Application

9.2.4. By End User

9.2.5. By Country

9.3. Asia-Pacific: Country Analysis

9.3.1. China Precision Medicine Market Outlook, 2016-2026F

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Products & Services

9.3.1.2.2. By Technology

9.3.1.2.3. By Application

9.3.1.2.4. By End User

9.3.2. India Precision Medicine Market Outlook, 2016-2026F

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Products & Services

9.3.2.2.2. By Technology

9.3.2.2.3. By Application

9.3.2.2.4. By End User

9.3.3. Japan Precision Medicine Market Outlook, 2016-2026F

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Products & Services

9.3.3.2.2. By Technology

9.3.3.2.3. By Application

9.3.3.2.4. By End-User

9.3.4. South Korea Precision Medicine Market Outlook, 2016-2026F

9.3.4.1. Market Size & Forecast

9.3.4.1.1. By Value

9.3.4.2. Market Share & Forecast

9.3.4.2.1. By Products & Services

9.3.4.2.2. By Technology

9.3.4.2.3. By Application

9.3.4.2.4. By End User

9.3.5. Australia Precision Medicine Market Outlook, 2016-2026F

9.3.5.1. Market Size & Forecast

9.3.5.1.1. By Value

9.3.5.2. Market Share & Forecast

9.3.5.2.1. By Products & Services

9.3.5.2.2. By Technology

9.3.5.2.3. By Application

9.3.5.2.4. By End User

9.3.6. Singapore Precision Medicine Market Outlook, 2016-2026F

9.3.6.1. Market Size & Forecast

9.3.6.1.1. By Value

9.3.6.2. Market Share & Forecast

9.3.6.2.1. By Products & Services

9.3.6.2.2. By Technology

9.3.6.2.3. By Application

9.3.6.2.4. By End User

10. South America Precision Medicine Market Outlook, 2016-2026F

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Products & Services

10.2.2. By Technology

10.2.3. By Application

10.2.4. By End User

10.2.5. By Country

10.3. South America: Country Analysis

10.3.1. Brazil Precision Medicine Market Outlook, 2016-2026F

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Products & Services

10.3.1.2.2. By Technology

10.3.1.2.3. By Application

10.3.1.2.4. By End User

10.3.2. Argentina Precision Medicine Market Outlook, 2016-2026F

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Products & Services

10.3.2.2.2. By Technology

10.3.2.2.3. By Application

10.3.2.2.4. By End User

10.3.3. Colombia Precision Medicine Market Outlook, 2016-2026F

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Products & Services

10.3.3.2.2. By Technology

10.3.3.2.3. By Application

10.3.3.2.4. By End User

11. Middle East and Africa Precision Medicine Market Outlook, 2016-2026F

11.1. Market Size & Forecast

11.1.1. By Value

11.2. Market Share & Forecast

11.2.1. By Products & Services

11.2.2. By Technology

11.2.3. By Application

11.2.4. By End User

11.2.5. By Country

11.3. MEA: Country Analysis

11.3.1. South Africa Precision Medicine Market Outlook, 2016-2026F

11.3.1.1. Market Size & Forecast

11.3.1.1.1. By Value

11.3.1.2. Market Share & Forecast

11.3.1.2.1. By Products & Services

11.3.1.2.2. By Technology

11.3.1.2.3. By Application

11.3.1.2.4. By End User

11.3.2. Saudi Arabia Precision Medicine Market Outlook, 2016-2026F

11.3.2.1. Market Size & Forecast

11.3.2.1.1. By Value

11.3.2.2. Market Share & Forecast

11.3.2.2.1. By Products & Services

11.3.2.2.2. By Technology

11.3.2.2.3. By Application

11.3.2.2.4. By End User

11.3.3. UAE Precision Medicine Market Outlook, 2016-2026F

11.3.3.1. Market Size & Forecast

11.3.3.1.1. By Value

11.3.3.2. Market Share & Forecast

11.3.3.2.1. By Products & Services

11.3.3.2.2. By Technology

11.3.3.2.3. By Application

11.3.3.2.4. By End User

12. Market Dynamics

12.1. Drivers

12.2. Challenges

13. Market Trends & Developments

14. Competitive Landscape

14.1. Competition Outlook

14.2. Players Profiled (Leading Companies)

14.2.1. IBM Corporation

14.2.2. F. Hoffmann-La Roche AG

14.2.3. Thermo Fisher Scientific Inc.

14.2.4. Koninklijke Philips N.V.

14.2.5. Illumina, Inc

14.2.6. Quest Diagnostics Inc.

14.2.7. QIAGEN N.V.

14.2.8. AstraZeneca PLC

14.2.9. Agilent Technologies, Inc.

14.2.10. Novartis International AG

14.2.11. NanoString Technologies Inc.

14.2.12. NantHealth, Inc.

14.2.13. Orion Health Inc.

14.2.14. Celcuity Inc.

14.2.15. InsightRX, Inc.

15. Strategic Recommendations

16. About Us & Disclaimer

Figures and Tables

Figure 1: Global Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 2: Research & Development Expenditure of Top 5 Countries (USD Billion), As of 2021

Figure 3: Global Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 4: Global Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 5: Global Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 6: Global Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 7: Global Precision Medicine Market Share, By Company, By Value, 2020

Figure 8: Global Precision Medicine Market Share, By Region, By Value, 2016-2026F

Figure 9: Global Precision Medicine Market Map, By Technology, Market Size (USD Billion) & Growth Rate (%)

Figure 10: Global Precision Medicine Market Map, By Application, Market Size (USD Billion) & Growth Rate (%)

Figure 11: North America Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 12: Estimated Number of New Cancer Cases, North America, 2020

Figure 13: North America Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 14: North America Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 15: North America Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 16: North America Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 17: North America Precision Medicine Market Share, By Country, By Value, 2016-2026F

Figure 18: United States Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 19: New Cancer Cases Reported in the United States in 2020, Both Sexes, All Ages

Figure 20: United States Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 21: United States Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 22: United States Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 23: United States Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 24: Canada Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 25: Canada Hospital Establishments, By Region, 2019 (Units)

Figure 26: Canada Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 27: Canada Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 28: Canada Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 29: Canada Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 30: Mexico Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 31: Mexico Healthcare Spending, By Value, 2015 -2019 (USD Per Capita)

Figure 32: Mexico Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 33: Mexico Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 34: Mexico Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 35: Mexico Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 36: Europe Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 37: Leading Cancers in Males in Europe by Incidence and Mortality Common Cancers, 2020

Figure 38: Europe Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 39: Europe Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 40: Europe Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 41: Europe Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 42: Europe Precision Medicine Market Share, By Country, By Value, 2016-2026F

Figure 43: Germany Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 44: Germany New Cancer Cases, By Type, 2020

Figure 45: Germany Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 46: Germany Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 47: Germany Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 48: Germany Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 49: United Kingdom Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 50: Geriatric Population Numbers & Projections in United Kingdom (Million), 2020

Figure 51: United Kingdom Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 52: United Kingdom Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 53: United Kingdom Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 54: United Kingdom Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 55: France Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 56: France Healthcare Spending, By Value (USD Per Capita), 2015-2019

Figure 57: France Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 58: France Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 59: France Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 60: France Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 61: Italy Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 62: New Cancer Cases in Italy (%), Males, All Ages, 2020

Figure 63: Italy Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 64: Italy Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 65: Italy Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 66: Italy Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 67: Spain Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 68: Number of New Cancer Cases in Spain, By Cancer Site, 2020

Figure 69: Spain Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 70: Spain Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 71: Spain Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 72: Spain Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 73: Asia Pacific Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 74: Number of New Cancer Cases in Asia Pacific (2020)

Figure 75: Asia Pacific Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 76: Asia Pacific Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 77: Asia Pacific Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 78: Asia Pacific Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 79: Asia Pacific Precision Medicine Market Share, By Country, By Value, 2016-2026F

Figure 80: China Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 81: New Cancer Cases in China (%), 2020

Figure 82: China Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 83: China Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 84: China Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 85: China Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 86: India Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 87: Growing Share of Geriatric Population (Above 60 Years) in India (2015-2019)

Figure 88: India Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 89: India Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 90: India Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 91: India Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 92: Japan Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 93: Japan Total Health Expenditure as a share of GDP, 2015- 2019

Figure 94: Japan Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 95: Japan Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 96: Japan Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 97: Japan Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 98: South Korea Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 99: New Cancer Cases in South Korea (%), 2019

Figure 100: South Korea Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 101: South Korea Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 102: South Korea Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 103: South Korea Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 104: Australia Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 105: % of Public and Private Hospitals in Australia, 2020

Figure 106: Australia Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 107: Australia Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 108: Australia Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 109: Australia Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 110: Singapore Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 111: Singapore Leading Causes of Death, As of 2020

Figure 112: Singapore Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 113: Singapore Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 114: Singapore Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 115: Singapore Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 116: South America Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 117: Estimated Number of New Cancer Cases, South America in 2020

Figure 118: South America Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 119: South America Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 120: South America Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 121: South America Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 122: South America Precision Medicine Market Share, By Country, By Value, 2016-2026F

Figure 123: Brazil Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 124: Brazil Healthcare Spending, By Value (USD Per Capita), 2015-2019

Figure 125: Brazil Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 126: Brazil Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 127: Brazil Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 128: Brazil Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 129: Argentina Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 130: Argentina Bioinformatics Market Size, By Value (USD Billion), 2016-2026F

Figure 131: Argentina Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 132: Argentina Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 133: Argentina Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 134: Argentina Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 135: Colombia Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 136: New Cancer Cases in Colombia (%), 2019

Figure 137: Colombia Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 138: Colombia Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 139: Colombia Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 140: Colombia Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 141: Middle East & Africa Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 142: Estimated Number of New Cancer Cases, Middle East & Africa in 2020

Figure 143: Middle East & Africa Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 144: Middle East & Africa Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 145: Middle East & Africa Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 146: Middle East & Africa Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 147: Middle East & Africa Precision Medicine Market Share, By Country, By Value, 2016-2026F

Figure 148: South Africa Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 149: South Africa New Cancer Cases, By Type, 2020

Figure 150: South Africa Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 151: South Africa Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 152: South Africa Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 153: South Africa Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 154: Saudi Arabia Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 155: Saudi Arabia Next-Generation Sequencing Market Size, By Value, 2015-2025F (USD Million)

Figure 156: Saudi Arabia Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 157: Saudi Arabia Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 158: Saudi Arabia Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 159: Saudi Arabia Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 160: UAE Precision Medicine Market Size, By Value (USD Billion), 2016-2026F

Figure 161: UAE Health Expenditure (% of GDP), 2015-2019

Figure 162: UAE Precision Medicine Market Share, By Products & Services, By Value, 2016-2026F

Figure 163: UAE Precision Medicine Market Share, By Technology, By Value, 2016-2026F

Figure 164: UAE Precision Medicine Market Share, By Application, By Value, 2016-2026F

Figure 165: UAE Precision Medicine Market Share, By End User, By Value, 2016-2026F

Figure 166: New Cancer Cases, By Type (2020)

Figure 167: Global Population Ages 65 & Above (% of Total Population), 2016-2019

Frequently asked questions

What is precision medicine?

Precision medicine is an emerging trend in the healthcare industry which refers to providing disease treatment and prevention taking into consideration the individual’s genetic makeup, variability in genes, environment and the lifestyle of the patient. Additionally, other factors such as patient’s age, gender, and pre-existing conditions are also taken into consideration. Basically, precision medicine uses data and genomics to provide treatment to the patient.

What are the major attributes of precision medicine?

The four major attributes of precision medicine include preventive, predictive, personalized and participatory. Personalized refers to the overall understanding of the genetic makeup and genetic variation in the patient which drives the treatment. While predictive involves the identification of the patient condition, how he or she will respond to the treatment provided, and what can be the future outcomes or conditions, etc. This in turn helps in the formulation of comprehensive health strategy. The preventive attribute comprises of a paradigm shift from illness to wellness thereby facilitating a proactive approach to health and medicine. Lastly, the participatory attribute comprises of the patient’s involvement and responsibility in making the choices related to the illness, treatment and health as a whole.

What are the different therapeutic areas in which precision medicine is used?

The different therapeutic areas in which precision medicine is used include oncology, prenatal screening & genetic counselling, cardiovascular diseases, infectious diseases, among others.

What are the potential barriers to precision medicine?

The major factors which pose a threat to the growth and adoption of precision medicine include unfavorable regulatory framework & policies, lack of awareness, high cost & affordability constraints, among others.

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