Precision Medicine Market Size, Status and Forecast 2020-2026

According to the National Institutes of Health (NIH), precision medicine is "an emerging approach for disease treatment and prevention that takes into account individual variability in genes, environment, and lifestyle for each person." This approach will allow doctors and researchers to predict more accurately which treatment and prevention strategies for a particular disease will work in which groups of people. It is in contrast to a "one-size-fits-all" approach, in which disease treatment and prevention strategies are developed for the average person, with less consideration for the differences between individuals.


Although the term "precision medicine" is relatively new, the concept has been a part of healthcare for many years. For example, a person who needs a blood transfusion is not given blood from a randomly selected donor; instead, the donor?s blood type is matched to the recipient to reduce the risk of complications. Although examples can be found in several areas of medicine, the role of precision medicine in day-to-day healthcare is relatively limited. Researchers hope that this approach will expand to many areas of health in coming years.

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The classification of precision medicine includes diagnostics and therapies, and the proportion of diagnostics in 2016 is about 68%.

Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 100 countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the Precision Medicine market in 2020.

COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets.

The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.

This report also analyses the impact of Coronavirus COVID-19 on the Precision Medicine industry.

Based on our recent survey, we have several different scenarios about the Precision Medicine YoY growth rate for 2020. The probable scenario is expected to grow by a xx% in 2020 and the revenue will be xx in 2020 from US$ xx million in 2019. The market size of Precision Medicine will reach xx in 2026, with a CAGR of xx% from 2020 to 2026.

With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Precision Medicine market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Precision Medicine market in terms of revenue.

Players, stakeholders, and other participants in the global Precision Medicine market will be able to gain the upper hand as they use the report as a powerful resource. For this version of the report, the segmental analysis focuses on revenue and forecast by each application segment in terms of revenue and forecast by each type segment in terms of revenue for the period 2015-2026.

Regional and Country-level Analysis

The report offers an exhaustive geographical analysis of the global Precision Medicine market, covering important regions, viz, North America, Europe, China, Japan, Southeast Asia, India and Central & South America. It also covers key countries (regions), viz, U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, UAE, etc.

The report includes country-wise and region-wise market size for the period 2015-2026. It also includes market size and forecast by each application segment in terms of revenue for the period 2015-2026.


Competition Analysis

In the competitive analysis section of the report, leading as well as prominent players of the global Precision Medicine market are broadly studied on the basis of key factors. The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2015-2020. It also offers detailed analysis supported by reliable statistics on price and revenue (global level) by player for the period 2015-2020.

On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Precision Medicine market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Precision Medicine market.


The following players are covered in this report:


  • Johnson & Johnson
  • IBM
  • GE Healthcare
  • Illumina
  • Roche
  • Laboratory Corporation of America Holdings
  • Thermo Fisher Scientific
  • Novartis
  • Abbott Laboratories
  • Almac Group
  • Intel Corporation
  • Biomrieux Sa
  • Cepheid
  • Qiagen
  • Randox Laboratories
  • Healthcore


Precision Medicine Breakdown Data by Type


  • Diagnostics
  • Therapies


Precision Medicine Breakdown Data by Application


  • Oncology
  • Neurosciences
  • Immunology
  • Respiratory
  • Others

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Table of content

1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered: Ranking by Precision Medicine Revenue
1.4 Market Analysis by Type
1.4.1 Global Precision Medicine Market Size Growth Rate by Type: 2020 VS 2026
1.4.2 Diagnostics
1.4.3 Therapies
1.5 Market by Application
1.5.1 Global Precision Medicine Market Share by Application: 2020 VS 2026
1.5.2 Oncology
1.5.3 Neurosciences
1.5.4 Immunology
1.5.5 Respiratory
1.5.6 Others
1.6 Coronavirus Disease 2019 (Covid-19): Precision Medicine Industry Impact
1.6.1 How the Covid-19 is Affecting the Precision Medicine Industry
1.6.1.1 Precision Medicine Business Impact Assessment - Covid-19
1.6.1.2 Supply Chain Challenges
1.6.1.3 COVID-19?s Impact On Crude Oil and Refined Products
1.6.2 Market Trends and Precision Medicine Potential Opportunities in the COVID-19 Landscape
1.6.3 Measures / Proposal against Covid-19
1.6.3.1 Government Measures to Combat Covid-19 Impact
1.6.3.2 Proposal for Precision Medicine Players to Combat Covid-19 Impact
1.7 Study Objectives
1.8 Years Considered

2 Global Growth Trends by Regions
2.1 Precision Medicine Market Perspective (2015-2026)
2.2 Precision Medicine Growth Trends by Regions
2.2.1 Precision Medicine Market Size by Regions: 2015 VS 2020 VS 2026
2.2

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