Authored By: Sarah
17 Dec 2023

Precision Medicine Market Forecast: USD 54.07 Billion Surge through 2023-2027  

The Precision Medicine Market leverages genomics, targeted therapy, and personalized medicine, revolutionizing healthcare through tailored treatments. Utilizing biomarkers and genomic data analysis, it enables disease-specific approaches, diagnostic testing, and precise patient stratification. Molecular profiling and theranostics, alongside companion diagnostics, transform cancer treatment, shaping patient-centric healthcare through advanced data analytics.

Between 2022 and 2027, the precision medicine market is projected to expand with a CAGR of 11.32%, foreseeing a market surge of USD 54.07 billion.

Precision Medicine Market

Overview of the Precision Medicine Market

Navigating through the growth drivers it has been observed that 

  • Escalating chronic diseases drive precision medicine demand, boosted by global rises in chronic conditions and an aging population.
  • Lifestyle changes contribute to chronic disease surges, as projected by WHO's estimation of a global doubling in the 60+ population by 2050.
  • Precision medicine tailors treatments to individual traits, using biomarkers for targeted therapies with higher efficacy and fewer side effects, emphasizing patient-centric healthcare and driving the market in the forecast period.

AbbVie Inc., Amgen Inc., AstraZeneca Plc, Biocrates Life Sciences AG, Bristol Myers Squibb Co., Catalent Inc.,  IQVIA Holdings Inc., Johnson and Johnson Services Inc., Lonza Group Ltd., Merck and Co. Inc., Novartis AG, Parexel International Corp., Pfizer Inc., QIAGEN NV, Sanofi SA, Takeda Pharmaceutical Co. Ltd., and Thermo Fisher Scientific Inc. represent pivotal market participants when it comes to Precision Medicine Market. Seeking Deeper Insights into Precision Medicine Market Trends? Request for our best-selling sample report today.

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