SAN FRANCISCO, Dec. 6, 2019 /PRNewswire/ — The perfect way to anticipate what future holds is to understand the trend today and hence Global Precision Medicine Market report has been structured by chewing over numerous fragments of the present and upcoming market scenario. The report contains all-embracing knowledge and information of rapidly changing market landscape, what already subsists in the market, future trends or market expectations, the competitive environment, and competitor strategies which assists in planning strategies for Healthcare IT industry with which it is possible to outdo the competitors. The report makes Healthcare IT industry well acquainted with thoughtful knowledge of the global, regional and local market statistics.
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Global Precision Medicine Market to grow with a substantial CAGR in the forecast period of 2019-2026. Growing prevalence of cancer worldwide and accelerating demand of novel therapies to prevent of cancer related disorders are the key factors for lucrative growth of market
Key Market Players:
Few of the major competitors currently working in the global precision medicine market are
- Neon Therapeutics
- Moderna, Inc
- Merck & Co., Inc
- Bayer AG
- PERSONALIS INC
- GENOCEA BIOSCIENCES, INC.
- F. Hoffmann-La Roche Ltd
- CureVac AG
- CELLDEX THERAPEUTICS
- BIONTECH SE
- Advaxis, Inc
- GlaxoSmithKline plc
- Bioven International Sdn Bhd
- Agenus Inc.
- Immatics Biotechnologies GmbH
- Immunovative Therapies
- Bristol-Myers Squibb Company
- Gritstone Oncology
- NantKwest, Inc
- others.
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Global Precision Medicine Market By Application (Diagnostics, Therapeutics and Others), Technologies (Pharmacogenomics, Point-of-Care Testing, Stem Cell Therapy, Pharmacoproteomics and Others), Indication (Oncology, Central Nervous System (CNS) Disorders, Immunology Disorders, Respiratory Disorders, Others), Drugs (Alectinib, Osimertinib, Mepolizumab,Aripiprazole lauroxil and Others), Route of Administration (Oral,Injectable), End- Users (Hospitals, Homecare, Specialty Clinics, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Competitive Analysis:
The precision medicine market is highly fragmented and is based on new product launches and clinical results of products. Hence, the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of mass spectrometry market for global, Europe, North America, Asia Pacific and South America.
Market Drivers
- Vulnerable oncology patients worldwide is driving the market growth
- Growing approval of personalized medicines from the regulatory authorities acts as a market driver
- Advancing in the field and emerging innovation to established an approach for treating many disease by personalized medicines is accelerating the market growth
- On-going clinical trials yields promising results of personalized medicines which in turns boost the health care industries is also enhancing the market growth
Market Restraints
- Substantial applications due to lack of research particularly in the area of scientific discovery is restraining the growth of this market
- Lack of government initiatives and reimbursement polices restricts the market growth
- Scientific and technological challenges to develop the personalized medicines is also hampering the market growth
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Market Definition:
Precision medicines is also known as personalized medicines is an innovative approach to the patient care for disease treatment, diagnosis and prevention base on the person’s individual genes. It allows doctors or physicians to select treatment option based on the patient’s genetic understanding of their disease.
According to the data published in PerMedCoalition, it was estimated that the USFDA has approved 25 novels personalized medicines in the year of 2018. These growing approvals annually by the regulatory authorities and rise in oncology and CNS disorders worldwide are the key factors for market growth.
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Key Developments in the Market: Global Precision Medicine Market
- In March 2019, Neon Therapeutics, Inc. reported the data for NEO-PV-01, a novel personalized cancer vaccine to be developed in a combination with nivolumab that targeting neoantigens and kills cancer cells that trial demonstrated clinical benefits. The NEO-PV-01 is currently in phase I/II clinical trial, if successful it will provide patients with more effective personalized medicines treatment options
- In September 2016, BioNTech AG and Genentech, Inc. has entered into research collaboration for the development of messenger RNA (mRNA)-based, individualized cancer vaccines for the treatment of broad range of cancer. As per the deal, BioNTech AG received USD 310 million as an upfront payment and eligible to receive milestone payment. This collaboration will provide cancer patients with novel-disease specific treatment options
Competitive Analysis: Global Precision Medicine Market
Global precision medicine market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of global precision medicine market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
SHORT Table of Contents GLOBAL PRECISION MEDICINE MARKET
1. INTRODUCTION
1.1. OVERVIEW OF THE GLOBAL PRECISION MEDICINE MARKET
1.2. CURRENCY AND PRICING
1.3. LIMITATION
1.4. MARKETS COVERED
2 MARKET SEGMENTATION
2.1. KEY TAKEAWAYS
2.2. ARRIVING AT THE GLOBAL PRECISION MEDICINE MARKET SIZE
2.3. GLOBAL PRECISION MEDICINE MARKET: RESEARCH SNAPSHOT
2.4. ASSUMPTIONS
3 MARKET OVERVIEW
3.1. DRIVERS
3.2. RESTRAINTS
3.3. OPPORTUNITIES
3.4. CHALLENGES
4 EXECUTIVE SUMMARY
5 PREMIUM INSIGHTS
6 GLOBAL PRECISION MEDICINE MARKET, BY TECHNOLOGY
6.1. OVERVIEW
6.2. BIG DATA ANALYTICS
6.3. BIOINFORMATICS
6.4. GENE SEQUENCING
6.5. DRUG DISCOVERY
6.6. COMPANION DIAGNOSTICS
6.7. OTHERS
7 GLOBAL PRECISION MEDICINE MARKET, BY APPLICATION
7.1. OVERVIEW
7.2. ONCOLGY
7.3. HEMATOLOGY
7.4. INFECTIOUS DISEASES
7.5. CARDIOLOGY
8 GLOBAL PRECISION MEDICINE MARKET, BY end-user
8.1. OVERVIEW
8.2. PHARMACEUTICALS
8.3. BIOTECHNOLOGY
9 GLOBAL PRECISION MEDICINE MARKET: COMPETITIVE LANDSCAPE
9.1. GLOBAL PRECISION MEDICINE MARKET: COMPANY SHARE ANALYSIS
9.2. MERGERS & ACQUISITIONS
9.3. NEW PRODUCT DEVELOPMENT & APPROVALS
9.4. EXPANSIONS
10 GLOBAL PRECISION MEDICINE MARKET, COMPANY PROFILES
10.1 Orion Health
10.2 ARIEL Precision Medicine, INC.
10.3 Metabolon, Inc.
10.4 Pfizer Inc.
10.5 Biocrates Life Sciences
10.6 Medtronic
10.7 Novartis AG
10.8 Quest Diagnostics Incorporated
10.9 F. Hoffmann-La Roche Ltd
10.10 Teva Pharmaceutical Industries Ltd
11 APPENDIX
12 ABOUT DATA BRIDGE MARKET RESEARCH
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Market Segmentation: Global Precision Medicine Market
- By technology: – big data analytics, bioinformatics, gene sequencing, drug discovery, companion diagnostics, and others.
- By application: – oncology, hematology, infectious diseases, cardiology, neurology, endocrinology, pulmonary diseases, ophthalmology, metabolic diseases, pharmagenomics, and others.
- On the basis of end-users:- pharmaceuticals, biotechnology, diagnostic companies, laboratories, and healthcare it specialist.
- On the basis of geography:- North America & South America, Europe, Asia-Pacific, and Middle East & Africa. U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
- In 2017, North America is expected to dominate the market.
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