United States precision medicine market
is expected to grow at a significant rate during the forecast period. The growing need for customized personal healthcare
treatment as each person reacts in a different way to medicines which enhances
the effectiveness of treatment is driving the market for precision medicine. Precision
medicines are person specific and are more precise, personalized, and powerful
way of treating patients. Strong economic position and rising GDP is enabling
to allocate huge funds for development of healthcare sector in United States.
Presence
of disposable income among the residents of United States is aiding to increase
the expenditure capacity of consumers. Market players are engaging in research
and development activities for producing advanced medicines which are more
effective, have longer shelf life and can be made according to the patient’s
needs. Supportive government policies to support healthcare infrastructure and
increase the access of healthcare services to every sector of society in form
of reimbursement policies is contributing to increase the precision market
growth. Accessibility to large scale human genome databases including whole
genome sequencing and next generation sequencing is fueling the demand for
precision medicines in United States for the next five years.
United
States precision medicine market is segmented into products and services, technology,
application, end-user, regional distribution, and company. Based on end-user, market is further
divided into pharmaceutical and biotechnology companies, healthcare IT,
diagnostic companies, clinical research organization, research institutes. The
pharmaceutical and biotechnology company segment is expected to dominate the
market for the forecast period, 2023-2027. Presence of advanced technology
which can identify drug related genetic altercations and huge investments to
advance the precision medicine field are the contributing factors boosting the
demand of precision medicines.
The major players operating in the United
States precision medicine market are Illumina, Inc., Thermo
Fischer Scientific, Inc., QIAGEN Inc., Quest Diagnostics, Inc., Pfizer Inc., Agilent
Technologies, Inc., Medtronic USA, Inc., Orion Health Inc., Celcuity Inc., InsightRX
Inc., among others. Major companies are developing advanced technologies
and launching new services to stay competitive in the market. Other competitive
strategies include mergers & acquisitions and new service developments.
Objective of the Study:
- To analyze the historical growth of the market size of United
States precision medicine market from 2017 to 2020.
- To estimate and forecast the market size of United States precision
medicine market from 2021 to 2027 and growth rate until 2027.
- To classify and forecast United States precision medicine market based
on products and services, technology, application, end-user, regional
distribution, and company.
- To identify dominant region or segment in the United States precision
medicine.
- To identify drivers and challenges for United States precision
medicine market.
- To examine competitive developments such as expansions, new product
launches, mergers & acquisitions, etc., in United States precision
medicine market.
- To identify and analyze the profile of leading players operating in
United States precision medicine market.
- To identify key sustainable strategies adopted by market players in
United States 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 manufacturers 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 manufacturers who could not be identified
due to the limitations of secondary research. TechSci Research analyzed the manufacturers,
distribution channels and presence of all major players across the globe.
TechSci
Research calculated the market size of United States 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 product types and applications 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 manufacturing companies
- Market research and consulting firms
- Government bodies such as regulating
authorities and policy makers
- Organizations, forums, and alliances related
to precision medicine market.
The study is useful in providing answers to several critical
questions that are important for the industry stakeholders such as manufacturers,
suppliers and partners, end users, etc., besides allowing them in strategizing
investments and capitalizing on market opportunities.
|
Attribute
|
Details
|
|
Base
Year
|
2021
|
|
Historical
Years
|
2017 –
2020
|
|
Estimated
Year
|
2022E
|
|
Forecast
Period
|
2023F –
2027F
|
|
Quantitative
Units
|
Revenue in
USD Million and CAGR for 2017-2021 and 2022E-2027F
|
|
Report
Coverage
|
Revenue forecast,
company share, competitive landscape, growth factors, and trends
|
|
Segments
Covered
|
- Products and Services
- Technology
- Application
- End User
|
|
Region
Scope
|
South-Region,
West-Region, Mid-West Region & Northeast-Region
|
|
Key
Companies Profiled
|
Illumina,
Inc., Thermo Fischer Scientific, Inc., QIAGEN Inc., Quest Diagnostics, Inc.,
Pfizer Inc., Agilent Technologies, Inc., Medtronic USA, Inc., Orion Health
Inc., Celcuity Inc., InsightRX Inc.
|
|
Customization
Scope
|
10% free
report customization with purchase. Addition or alteration to regional &
segment scope.
|
|
Pricing
and Purchase Options
|
Avail
customized purchase options to meet your exact research needs. Explore purchase options
|
|
Delivery
Format
|
PDF and Excel through Email (We can also
provide the editable version of the report in PPT/Word format on special
request)
|
Report Scope:
In this report, United States precision
medicine market has been segmented into following categories, in addition to
the industry trends which have also been detailed below:
·
United States Precision Medicine Market,
By Products and Services:
- Precision
Medicine Platforms
- Precision
Medicine Tools
- Precision
Medicine Services
- United States Precision Medicine Market, By Technology:
- Big Data
Analytics
- Artificial
Intelligence
- Bioinformatics
- Whole
Genome Sequencing
- Companion
Diagnostics
- Next Generation
Sequencing (NGS)
- Others
- United States Precision Medicine Market, By Application:
- Oncology
- Immunology
- Cardiology
- Neurology
- Respiratory
- Others
- United States Precision Medicine Market, By End-User:
- Pharmaceutical
and Biotechnology Companies
- Healthcare
IT
- Diagnostic
Companies
- Clinical
Research Organization
- Research
Institutes
- United States Precision Medicine Market, By Region:
- South
- West
- Mid-West
- North East
Competitive
Landscape
Company Profiles: Detailed analysis of the major
companies present in United States 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).
United States Precision
Medicine market is an upcoming report to be released soon. If you wish an early
delivery of this report or want to confirm the date of release, please contact
us at [email protected]