According to TechSci Research latest Report- Global precision medicine market is expected to grow at a double digit CAGR during the forecast period. Precision medicines are patient specific and vary from individual to individual.
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Global Precision Medicine Market Forecast
1. MARKET INTELLIGENCE . CONSULTING
www.techsciresearch.com
GLOBAL PRECISION MEDICINE MARKET
FORECAST & OPPORTUNITIES
2015 – 2025
2. 2
Scope of Report
Product of Interest (POI): Precision Medicine
Review Period
2015 – 2018
Base Year
2019
Estimated Year
2020
Forecast Period
2021 – 2025
Year Range
REGION
• Asia-Pacific
• Europe
• North America
• South America
• Middle East &
Africa
Global precision medicine market is expected to grow at a double digit CAGR during the
forecast period. Precision medicines are patient specific and vary from individual to
individual. Increasing population and rising cancer cases in developing countries like India
and China are the major factors propelling the growth of the precision medicine market.
However, high price of precision medicines might hamper the growth of the market.
Market Segmentation
TECHNOLOGY
• Artificial
Intelligence
• Whole Genome
Sequencing
• Companion
Diagnostics
• Genome
Sequencing
• Big Data Analytics
• Molecular
Imaging
• Digital PCR
• Microarray
• CRISPR
• Others
• Pharmaceutical and
Biotechnology
Companies
• Clinical research
organization
• Research institutes
• Diagnostic Companies
• Healthcare IT
END USER
APPLICATION
• Cardiology
• Oncology
• Respiratory
• Immunology
• Others
3. 3
Table of Contents
S. No. Contents Page No.
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Global Precision Medicine Market
4. Executive Summary
5. Voice of Customer
6. Global Precision Medicine Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1.
By Technology (Artificial Intelligence, Whole Genome Sequencing, Companion Diagnostics, Genome
Sequencing, Big Data Analytics, Molecular Imaging, Digital PCR, Microarray, CRISPR and Others)
6.2.2. By Application (Cardiology, Oncology, Respiratory, Immunology and Others)
6.2.3.
By End User (Pharmaceutical and Biotechnology Companies, Clinical research organization, Research
institutes, Diagnostic Companies, Healthcare IT)
6.2.4. By Company (2019)
6.2.5. By Region (Asia-Pacific, Europe, North America, South America and Middle East & Africa)
6.3. Market Attractiveness Index
7. Asia-Pacific Precision Medicine Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
4. 4
Table of Contents
S. No. Contents Page No.
7.2. Market Share & Forecast
7.2.1. By Technology
7.2.2. By Application
7.2.3. By End User
7.2.4. By Country (China, India, Japan, South Korea, Australia)
7.3. Asia-Pacific: Country Analysis
7.3.1. China Precision Medicine Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value & Volume
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Technology
7.3.1.2.2. By Application
7.3.1.2.3. By End User
7.3.2. India Precision Medicine Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value & Volume
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Technology
5. 5
Table of Contents
S. No. Contents Page No.
7.3.2.2.2. By Application
7.3.2.2.3. By End User
7.3.3. Japan Precision Medicine Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value & Volume
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Technology
7.3.3.2.2. By Application
7.3.3.2.3. By End User
7.3.4. South Korea Precision Medicine Market Outlook
7.3.4.1. Market Size & Forecast
7.3.4.1.1. By Value & Volume
7.3.4.2. Market Share & Forecast
7.3.4.2.1. By Technology
7.3.4.2.2. By Application
7.3.4.2.3. By End User
7.3.5. Australia Precision Medicine Market Outlook
7.3.5.1. Market Size & Forecast
7.3.5.1.1. By Value & Volume
6. 6
Table of Contents
S. No. Contents Page No.
7.3.5.2. Market Share & Forecast
7.3.5.2.1. By Technology
7.3.5.2.2. By Application
7.3.5.2.3. By End User
8. Europe Precision Medicine Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Technology
8.2.2. By Application
8.2.3. By End User
8.2.4. By Country (France, Germany, United Kingdom, Italy, Spain)
8.3. Europe: Country Analysis
8.3.1. France Precision Medicine Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value & Volume
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Technology
7. 7
Table of Contents
S. No. Contents Page No.
8.3.1.2.2. By Application
8.3.1.2.3. By End User
8.3.2. Germany Precision Medicine Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value & Volume
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Technology
8.3.2.2.2. By Application
8.3.2.2.3. By End User
8.3.3. United Kingdom Precision Medicine Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value & Volume
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Technology
8.3.3.2.2. By Application
8.3.3.2.3. By End User
8.3.4. Italy Precision Medicine Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value & Volume
8. 8
Table of Contents
S. No. Contents Page No.
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Technology
8.3.4.2.2. By Application
8.3.4.2.3. By End User
8.3.5. Spain Precision Medicine Market Outlook
8.3.5.1. Market Size & Forecast
8.3.5.1.1. By Value & Volume
8.3.5.2. Market Share & Forecast
8.3.5.2.1. By Technology
8.3.5.2.2. By Application
8.3.5.2.3. By End User
9. North America Precision Medicine Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Technology
9.2.2. By Application
9.2.3. By End User
9. 9
Table of Contents
S. No. Contents Page No.
9.2.4. By Country (United States, Canada, Mexico)
9.3. North America: Country Analysis
9.3.1. United States Precision Medicine Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value & Volume
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Technology
9.3.1.2.2. By Application
9.3.1.2.3. By End User
9.3.2. Canada Precision Medicine Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Value & Volume
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Technology
9.3.2.2.2. By Application
9.3.2.2.3. By End User
9.3.3. Mexico Precision Medicine Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Value & Volume
10. 10
Table of Contents
S. No. Contents Page No.
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By Technology
9.3.3.2.2. By Application
9.3.3.2.3. By End User
10. South America Precision Medicine Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value & Volume
10.2. Market Share & Forecast
10.2.1. By Technology
10.2.2. By Application
10.2.3. By End User
10.2.4. By Country (Brazil, Argentina, Colombia)
10.3. South America: Country Analysis
10.3.1. Brazil Precision Medicine Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1 By Value & Volume
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Technology
11. 11
Table of Contents
S. No. Contents Page No.
10.3.1.2.2. By Application
10.3.1.2.3. By End User
10.3.2. Argentina Precision Medicine Market Outlook
10.3.2.1. Market Size & Forecast
10.3.2.1.1 By Value & Volume
10.3.2.2. Market Share & Forecast
10.3.2.2.1. By Technology
10.3.2.2.2. By Application
10.3.2.2.3. By End User
10.3.3. Colombia Precision Medicine Market Outlook
10.3.3.1. Market Size & Forecast
10.3.3.1.1 By Value & Volume
10.3.3.2. Market Share & Forecast
10.3.3.2.1. By Technology
10.3.2.2.2. By Application
10.3.2.2.3. By End User
11. Middle East & Africa Precision Medicine Market Outlook
11.1. Market Size & Forecast
11.1.1. By Value & Volume
12. 12
Table of Contents
S. No. Contents Page No.
11.2. Market Share & Forecast
11.2.1. By Technology
11.2.2. By Application
11.2.3. By End User
11.2.4. By Country (South Africa, Saudi Arabia, UAE)
11.3. Middle East & Africa : Country Analysis
11.3.1. South Africa Precision Medicine Market Outlook
11.3.1.1. Market Size & Forecast
11.3.1.1.1. By Value & Volume
11.3.1.2. Market Share & Forecast
11.3.1.2.1. By Technology
11.3.1.2.2. By Application
11.3.1.2.3. By End User
11.3.2. Saudi Arabia Precision Medicine Market Outlook
11.3.2.1. Market Size & Forecast
11.3.2.1.1. By Value & Volume
11.3.2.2. Market Share & Forecast
11.3.2.2.1. By Technology
13. 13
Table of Contents
S. No. Contents Page No.
11.3.2.2.2. By Application
11.3.2.2.3. By End User
11.3.3. UAE Precision Medicine Market Outlook
11.3.3.1. Market Size & Forecast
11.3.3.1.1. By Value & Volume
11.3.3.2. Market Share & Forecast
11.3.3.2.1. By Technology
11.3.3.2.2. By Application
11.3.3.2.3. By End User
12. Market Dynamics
12.1. Drivers
12.2. Challenges
13. Market Trends & Developments
14. Pricing Analysis
15. Competitive Landscape
15.1. Competition Outlook
15.2. Players Profiled (Leading Companies)
16. Strategic Recommendations
17. About Us & Disclaimer
15. 15
Research Methodology
Identifying Key Opinion
Leaders
Questionnaire Design
In-depth Interviews
Data
Collection
Developing List
of Respondents
Formulating
Questionnaire
Market
Profiling
Data
Validation
Data
Analysis
In-depth secondary
research was conducted to
determine top players in
the global precision
medicine market, overall
market size and segmental
market size.
In order to conduct
industry experts’
interviews, TechSci
formulated a detailed
discussion guide.
List of industry
players and industry
specialists was
developed.
TechSci conducted
interviews with
industry experts and
industry players for
data collection and
verification.
Data obtained as a
result of primary
and secondary
research was
validated through
rigorous
triangulation.
The data was scrutinized
using MS-Excel, statistical
tools and internal
proprietary database to
obtain qualitative and
quantitative insights about
the global precision
medicine market.
Data
Collection
Data Filter
& Analysis
Research &
Intelligence
Actionable
Insights
Business
Solution
Primary Research Desk Research Company Analysis
Recent Developments
Market Changing
Aspects/Dynamics
Government Policies
Conclusion
Market Participants
Key Strengths
LinkedIn
TechSci Internal
Database
Factiva
Hoovers
Paid Sources
Company Websites
Company Annual
Reports
White Paper Study
Financial Reports
Investor
Presentations
Regulatory Body
Associations, etc.
Secondary
Research
Primary Research
16. 16
Research Methodology
Baseline Methodology
Our dedicated team of industry experts has monitored and analyzed various aspects of the global precision medicine market. The team
this market, while considering the the major influencing factors such as increasing population and rising cancer cases. The study
clients to take better decisions while planning their strategy to achieve sustainability in the global precision medicine market.
Methodology Followed for Calculation of Market Size:
• Market Size by Value: Market size, in terms of value, for the year 2019 was calculated based on information collected through
exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as precision medicine
end users, industry experts, and other industry participants.
• The team interviewed more than 15 – 20 precision medicine companies, 100 – 120 end users, and 15 – 20 industry experts and other
medicine market to obtain the overall market size from 2015 to 2019, which was validated by the Delphi technique. Taking standard
averaged out, to arrive at the market size data during 2015-2019.
17. 17
Research Methodology
• Respondents were asked about the current and future market growth rates, market shares by technology, by application, by end user, by company and by region. Removing the
outlier responses, the geometric mean of growth estimates and provider wise revenue shares generated across various segments were considered, to arrive at the final revenue
shares. Revenue shares generated across various segments were further triangulated from other stakeholders.
Methodology Followed for Calculation of Market Shares:
• Market share by technology, by application, by end user, by company and by region were calculated based on the responses received through primary surveys with industry experts,
in which the respondents were asked about the market shares or revenue generated from various segments of precision medicine markets. The final shares were calculated by
taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers.
Methodology Followed for Forecasting:
• TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/Tableau Software.
• Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast global precision medicine market, TechSci Research
used various forecast techniques such as:
Moving Average
Time Series Analysis
Regression Analysis
Econometric and Judgmental Analysis
18. 18
Research Methodology
TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during
short, medium and long term period to estimate the demand and to reach accurate market numbers. It should be noted that the figures compiled are only for the organized market
including market share data. The currency used in the report is the United States Dollar (USD), with the market size indicated in USD million.
Partial List of Companies Interviewed Key Secondary Sources
• Orion Health
• 2b Precise
• Fabric Genomics
• Pfizer
• Gene 42
• IBM Watson Health
• Philips Healthcare
• Medtronic
• Nanthealth
• Navican
• N-of-One
• PierianDx
• Sunquest Information System
• Tempus
• Novartis
• Translational Software
• Biocrates Life Sciences AG
• Nanostring Technologies
• Thermo Fisher Scientific
• Quest Diagnostics Incorporated
World Bank
TechSci Research Proprietary Database & Knowledge Repository
Company Annual Reports
Industry Magazines
Industry Reports
News Dailies
Credible Paid Databases
19. 19
Industry Brief
According to TechSci Research report, “Global Precision Medicine Market By Technology (Artificial Intelligence, Whole Genome
Sequencing, Companion Diagnostics, Genome Sequencing, Big Data Analytics, Molecular Imaging, Digital PCR, Microarray, CRISPR
and Others), By Applications (Cardiology, Oncology, Respiratory, Immunology and Others), By End User (Pharmaceutical and
Biotechnology Companies, Clinical research organization, Research institutes, Diagnostic Companies, Healthcare IT), By Region,
Forecast & Opportunities, 2025”, global precision medicine market is expected to experience robust CAGR during the forecast period
due to shift towards personal medicines or precision medicine, increase in genetic diseases and development of technologies such
as next generation sequencing. Unlike general medicines that are disease-specific and fit for all, the precision medicines focus on the
individual diseases. They are patient-based medicines which help the doctors to give optimized treatment to the patients, thereby
driving the precision medicine market across the globe. Additionally, international projects such as the Human Genome Project
(HGP), which was launched in 2001 funded by the US government via National Institutes of Health (NIH) are based on precision
medicines and provide a deeper understanding of the same. Even though the precision medicines come with an ample number of
advantages, they are cost expensive, which might hinder the growth of the market across the globe.
The global precision medicine market is segmented based on technology, application, end user, and region. The application segment
is further divided into cardiology, oncology, respiratory, immunology and other. Out of these, oncology held the largest market share in
2019 due to the increasing cases of cancer all over the world.
Some of the leading players in global precision medicine market include Orion Health, 2b Precise, Fabric Genomics, Pfizer, Gene 42,
IBM Watson Health, Phillips Healthcare, Medtronic, Nanthealth, Navican, N-of-One, PierianDx, Sunquest Information System,
Tempus, Novartis, Translational Software, Biocrates Life Sciences AG, Nanostring Technologies, Thermo Fisher Scientific, Quest
Diagnostics Incorporate and many others. In order to sustain the strong competition, companies adopt various strategies like new
product launches, collaborations and many more to provide the best precision medicines to the patients. Recently, Novartis bought
CellforCure, especially focusing on the data and digital technologies as it plays a major role in the aspect of precision medicines in
the storage of big data.
“In terms of regional analysis, North America dominated the global precision medicine market until 2019, due to favourable
government initiatives, heavy investments by the United States in medical research like Human Genome Project (HGP) and growing
cases of respiratory and oncology diseases. However, Asia-Pacific region is expected to grow at the highest CAGR in through 2025
because of the increasing prevalence of genetic and cancer diseases in countries like China and India. ” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management consulting firm.
21. 21
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Report Name: GLOBAL PRECISION MEDICINE MARKET
FORECAST & OPPORTUNITIES
2015 – 2025
22. About Us & Disclaimer
TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in
number of areas to organizations. The company uses innovative business Modes that focus on improving productivity, while ensuring creation of high-quality
of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ Mode of a country, regional and global industry
activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.
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The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely,
accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it
considers reliable and firsthand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible
for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the
subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this
document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior
approval of TechSci Research.
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