December 27, 2018: The United States Precision Medicine Market witnessed a higher CAGR growth in the assessment years. Precision diagnosis is commonly referred as companion diagnostics and is compulsorily used for cost-effective use of targeted small molecule drugs or biologics. Formal example includes vemurafanib, mutant melanoma and trastuzumab to treat breast cancer.
Without the precise laboratory of diagnosis, abnormality in melanoma in breast cancer would be useless and even danger for patients with a waste of money for healthcare systems to prescribe and administer the costly drugs. Therefore, precision diagnostics not only lead to personalized medicine with suitable outcomes, but also comes up as a resource utilization for healthcare systems. Precision medicine thus seeks to understand every patient’s variability in genes, lifestyle and environment in order to enable proper diagnosis and disease treatment thus improving patient outcome.
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From the commercial aspect, the precision medicine poised as a clinical approach for disease prevention and treatment taking into account an individual’s genes, lifestyle and environment prior to diagnosis. The market in United States seems to deploy innovative tools for using massive datasets coupled with enhanced techniques for biomedical analysis.
Driving factors responsible for the growth of precision medicine industry in the United States includes rising rate of cancer propelling the adoption of gene therapy enabling personalized treatment for patients based on their hereditary factors. Rise in adoption of big data in healthcare and government initiatives to enhance healthcare infrastructure also contributes to the market growth. Geographical segmentation for United States Precision Medicine Market includes Southwest, The West, The Middle Atlantic, The South and The Midwest. North America dominates the market growth owing to rise in government initiatives and rising geriatric population.
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Market Segment:
Geographically, this report splits the United States market into seven regions:
- The West
- Southwest
- The Middle Atlantic
- New England
- The South
- The Midwest
with sales (volume), revenue (value), market share and growth rate of Precision Medicine in these regions, from 2013 to 2025 (forecast).
United States Precision Medicine market competition by top manufacturers/players, with Precision Medicine sales volume, price, revenue (Million USD) and market share for each manufacturer/player; the top players including
- Johnson & Johnson
- IBM
- GE Healthcare
- Illumina
- Roche
- Laboratory Corporation of America Holdings
- Thermo Fisher Scientific
- Novartis
- Abbott Laboratories
- Almac Group
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
- Diagnostics
- Therapies
On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, sales volume, market share and growth rate for each application, including
- Oncology
- Neurosciences
- Immunology
- Respiratory
Key questions answered in the report include
1 What will be the market size in 2025?
2 How will the market change over the forecast period and what will be the market size in 2025?
3 What are the drivers and restraint associated with the market and how will these factors affect the dynamics over the forecast period?
4 What are the growth areas within the market space and where should a participant focus to get maximum ROI?
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