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Europe Precision Medicine market is expected to grow to USD 22.81 Billion by 2023

Europe Precision Medicine Market By Technology (Big Data Analytics, Bioinformatics, Gene Sequencing, Drug Discovery, Companion Diagnostics, Others)
kumar mdf | 31.10.2018
Precision Medicine Market © kumar mdf

Precision medicine is a therapeutic approach to the next disease that is based on the individual variability of genes, environment and lifestyle of each person. Precision medicine is a completely new concept and technology that has grown in recent years and has become a promising area for investment by large pharmaceutical companies. Precision medicine can diagnose and treat genomic-based diseases and specific biomarker techniques. An approach based on the accuracy of drug formulation could lead to new insights into the biology of the disease and its occurrence, the applications of which could affect the entire population.

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In the year 2018, the Europe Precision Medicine market was valued at USD 13.6 Billion, by the year 2023 it is expected to reach USD 22.81 Billion with 10.9% CAGR.

Drivers and Restraints:

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

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Geographic Segmentation

Geographically, the Europe Precision Medicine market is segmented into U.K, Italy, Spain, France and Germany. 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.

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Major companies in the market are 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

Scope of the report:

The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.

The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.

What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.

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