{"id":680903,"date":"2023-12-12T18:44:01","date_gmt":"2023-12-12T18:44:01","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=680903"},"modified":"2023-12-12T18:44:01","modified_gmt":"2023-12-12T18:44:01","slug":"precision-medicine-market-worth-502-billion-marketsandmarkets","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/precision-medicine-market-worth-502-billion-marketsandmarkets_680903.html","title":{"rendered":"Precision Medicine Market worth $50.2 billion | MarketsandMarkets"},"content":{"rendered":"
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\"Precision<\/a><\/div>\n
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Browse 189 market data Tables and 50 Figures spread through 240 Pages and in-depth TOC on “Precision Medicine Market by Type (Inhibitors, Monoclonal Antibodies, Cell & Gene Therapy, Antivirals, Antiretroviral), Indication (Oncology, Rare diseases, Hematology, Infectious), End user (Hospitals & Clinics, Home care) – Global Forecast to 2028<\/div>\n<\/div>\n<\/div>\n
Precision Medicine Market in terms of revenue was estimated to be worth $29.1 billion in 2023 and is poised to reach $50.2 billion by 2028, growing at a CAGR of 11.5 % from 2023 to 2028 according to a new report by MarketsandMarkets\u2122<\/div>\n

Precision Medicine Market<\/a><\/strong> in terms of revenue was estimated to be worth $29.1 billion in 2023 and is poised to reach $50.2 billion by 2028, growing at a CAGR of 11.5 % from 2023 to 2028 according to a new report by MarketsandMarkets™. The rising number of product approvals followed by growing focus on genetic testing, a prerequisite for precision medicine therapeutics, are the factors supporting market growth.<\/p>\n

Download an Illustrative overview: https:\/\/www.marketsandmarkets.com\/pdfdownloadNew.asp?id=215185595<\/a><\/strong><\/p>\n

Hospitals and Clinics subsegment accounted is the fastest growing of the precision medicine market by product & service <\/strong><\/p>\n

Among the end user, the market is segmented hospitals and clinics and home care setting. In 2022, the hospitals and clinics segment accounted for the highest growth rate of the precision medicine market by end user. Growth in this market segment can be attributed to factors such as availability of better facilities and assistance in hospitals and clinics, accessibility to advanced diagnostic tests along with precise therapeutic regime among others.<\/p>\n

Oncology is the fastest-growing segment of the precision medicine market by applications<\/strong><\/p>\n

Among the applications, the precision medicine market is segmented into drug discovery, clinical diagnostics, soil microbiome applications, industrial applications, ecological & environmental applications, veterinary applications, and other applications. In 2023, the drug discovery segment accounted for the fastest-growing share of the usage segment of precision medicine market. Growth in this market segment can be attributed to one of the major factors which is the growing number of research activities for development of new drugs.<\/p>\n

Europe: The second-largest region in the precision medicine market.<\/strong><\/p>\n

The European market is the second-largest precision medicine market globally, mainly due to factors such as presence of key market players in the region. Europe is considered a major hub for precision medicine players and organizations. Moreover, greater awareness among people about newly emerging area of precision medicine, especially compared to developing regions.<\/p>\n

Request Sample Pages: https:\/\/www.marketsandmarkets.com\/requestsampleNew.asp?id=215185595<\/a><\/strong><\/p>\n

Precision Medicine Market Dynamics:<\/strong><\/p>\n

Drivers:<\/strong><\/p>\n

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  1. Growth in genetic testing and companion diagnostics<\/li>\n<\/ol>\n

    Restraints:<\/strong><\/p>\n

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    1.  High costs of therapeutics<\/li>\n<\/ol>\n

      Opportunities:<\/strong><\/p>\n

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      1. Growing demand for cell and gene therapies<\/li>\n<\/ol>\n

        Challenges:<\/strong><\/p>\n

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        1. Challenges associated with adoption of precision medicine<\/li>\n<\/ol>\n

          Key Market Players:<\/strong><\/p>\n

          The market for precision medicine is competitive, with key players strategizing to capture the market. Prominent players in the precision medicine market are F. Hoffmann-La Roche Ltd. (Switzerland), Novartis AG (Switzerland), Bristol Myers Squibb (US), Gilead Sciences, Inc. (US), AstraZeneca (UK), Pfizer Inc. (US), AbbVie Inc. (US), Eli Lilly and Company (US), , GlaxoSmithKline plc (UK), Sanofi (France), Johnson & Johnson (US), Merck KGaA (Germany), Amgen, Inc. (US), Takeda Pharmaceutical Company Limited (Japan) among others.<\/p>\n

          Get 10% Free Customization on this Report: https:\/\/www.marketsandmarkets.com\/requestCustomizationNew.asp?id=215185595<\/a><\/strong><\/p>\n

          Media Contact<\/span>
          Company Name:<\/strong>           MarketsandMarkets\u2122 Research Private Ltd.<\/a>
          Contact Person:<\/strong> Mr. Aashish Mehra
          Email:<\/strong>           Send Email<\/a>
          Phone:<\/strong> 18886006441
          Address:<\/strong>630 Dundee Road Suite 430
          City:<\/strong> Northbrook
          State:<\/strong> IL 60062
          Country:<\/strong> United States
          Website:<\/strong>           https:\/\/www.marketsandmarkets.com\/Market-Reports\/precision-medicine-market-215185595.html<\/a><\/p>\n

          <\/object>\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

          Browse 189 market data Tables and 50 Figures spread through 240 Pages and in-depth TOC on “Precision Medicine Market by Type (Inhibitors, Monoclonal Antibodies, Cell & Gene Therapy, Antivirals, Antiretroviral), Indication (Oncology, Rare diseases, Hematology, Infectious), End user (Hospitals & … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[405,406,403,404,416],"tags":[],"class_list":["post-680903","post","type-post","status-publish","format-standard","hentry","category-Health-Medicine","category-Pharmaceuticals-Biotech","category-UK","category-US","category-World"],"_links":{"self":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts\/680903","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/comments?post=680903"}],"version-history":[{"count":0,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts\/680903\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/media?parent=680903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/categories?post=680903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/tags?post=680903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}