(PharmaNewsWire.Com, January 20, 2018 ) Precision Medicine refers to the tailoring of medical treatment to the individual characteristics of each patient. This new approach enables doctors to better assess disease risk, and predict the optimal therapy.According to the report Europe Precision Medicine Market, published by Market Data Forecast the Market has been estimated at USD 10.94 Billion in 2016 and is projected to reach USD 18.34 Billion by 2021, at a CAGR of 10.9% during the forecast period from 2016 to 2021.
The market for Precision Medicine is mainly driven due to increasing demand for personalized treatment, technological innovation and advancements which include Biomarker-based tests/kits, next gene sequencing, and precise imaging, Government support and regulations, and these have created a demand for the precision medicine solutions. But, the market growth is restrained due to drugs which are customized to patients where they may require a more intensified clinical trial.
Europe market for Precision Medicine is segmented based on Technology and Application. By Technology, the market is further sub-segmented into Big Data Analytics, Bioinformatics, Gene Sequencing, Drug Discovery, Companion Diagnostics and Others. By Application, the market is further sub-segmented into Oncology, CNS, Immunology, Respiratory and Others. By Application, oncology segment holds the largest market share, followed by the CNS and immunology segments. By Technology, drug discovery market holds the largest share, followed by gene sequencing and companion diagnostics. Big data analytics is expected to grow at the highest CAGR.
Geographically, Europe market for Precision Medicine is segmented into U.K., Germany, Spain, France and Italy. Europe is the second biggest market in terms of market share across the globe, followed by Europe. The spread of analytics and awareness of its potential are increasing at a rapid rate in Europe. Germany precision medicine will be a key player in shaping growth across Europe. Several institutes in Germany have already acquired a certification for the biomarker analysis in colorectal cancer.
Pfizer, Roche, Covance, Novartis, Qiagen, Biocrates Life Sciences, Teva Pharmaceutical, Nanostring Technologies, Laboratory Corporation of America Holdings, Tepnel Pharma Services, Intomics, Ferrer InCode, Silicon Biosystems, Eagle Genomics, Medtronic, and Quest Diagnostics, are the major players of Europe Precision Medicine market.
Scope of the Report
Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
Segment-level analysis in terms of application and type along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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