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Precision Medicine Diagnostics Market

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Precision Medicine Diagnostics Market - Size, Share,
Outlook, and Opportunity Analysis, 2018 – 2026
Precision medicine aims to alter the treatments based on individual characteristics, including
differences in genetics, environment, and lifestyle. It has the potential to transform the delivery
of care for a variety of diseases. Precision medicine implicate the application of panomic
analysis and systems biology to inspect the cause of an individual patient's diseased condition at
the molecular level and then to apply targeted treatments to address that individual patient's
disease. Precision medicine aims to make medication and medical practices efficient and cost
effective. By using the precision medicine, doctors recognize genetic makeup of the subject,
which helps doctors to prescribe the right drug with appropriate dose.
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Precision Medicine Diagnostics Market- Drivers
Precision medicine diagnostics market is expected to expand at rapid pace in near future, owing
to increasing number of pipeline studies to develop new treatment for cancer. For instance, in
January 2016, University of Arkansas initiated the clinical trial for fresh tissue biopsy to study
the further advancements in bio-specimens (blood cellular free component, e.g., plasma, serum,
tissue, urine), in order to develop precision medicine for lung cancer management and screening
(synergy with imaging). Fresh tissue biopsy involves taking a small sample of tissue from the
body part for further microscopic examination. The study is estimated to complete in December
2019.
Moreover, government initiatives to create awareness among the community health worker is
expected to boost growth of the precision medicine diagnostics market. For instance, in March
2018, the Division of Community Engagement and University of Agricultural and Horticultural
Sciences (UAHS) Center for Applied Genetics and Genomic Medicine partnered with the
University Of Arizona Banner Health Research Program to develop and implement a unique and
culturally conscious approach to increase precision medicine literacy, particularly among
underserved and marginalized populations. The program has been named as ‘Precision Medicine
Community Health Workers/Promoters for All of Us’.
Precision Medicine Diagnostics Market- Restraints
However, barriers in management of big data (large database including individual’s genetics,
environment, and lifestyle to ensure delivery of appropriate therapies) in Electronic health
records (EHR) may hamper growth of the precision medicine diagnostics market. Big data refers
to the large or complex data. EHR maintains the electronic record of patient health information
generated by one or more healthcare service provider. For Instance, in March 2018, Health It
Analytics stated that there was rise in adoption of precision medicine by healthcare
organizations, but insufficient data management was major challenge that results into turning
organizations to Artificial Intelligence (AI) and machine learning techniques to manage large
amount of data.
Report includes chapters which deeply display the following deliverable about industry :
• Precision Medicine Diagnostics Market Research Objective and Assumption
• Precision Medicine Diagnostics Market Purview - Report Description, Executive Summary, and
Coherent Opportunity Map (COM)
• Precision Medicine Diagnostics Market Dynamics, Regulations, and Trends Analysis - Market
Dynamics, Regulatory Scenario, Industry Trend, Merger and Acquisitions, New system
Launch/Approvals, Value Chain Analysis, Porter’s Analysis, and PEST Analysis
• Global Precision Medicine Diagnostics Market, By Regions
• Precision Medicine Diagnostics Market Competition by Manufacturers including Production,
Share, Revenue, Average Price, Manufacturing Base Distribution, Sales Area and Product Type.
• Precision Medicine Diagnostics Market Manufacturers Profiles/Analysis including Company
Basic Information, Manufacturing Base and Its Competitors.
• Precision Medicine Diagnostics Market Manufacturing Cost Analysis including Key Raw
Materials and Key Suppliers of Raw Materials.
• Industrial Chain, Sourcing Strategy and Downstream Buyers including Upstream Raw Materials
Sourcing and Downstream Buyers
• Marketing Strategy Analysis, Distributors/Traders including Marketing Channel, Market
Positioning and Distributors/Traders List.
• Market Effect Factors Analysis including Technology Progress/Risk, Consumer Needs/Customer
Preference Change and Economic/Political Environmental Change.
• Precision Medicine Diagnostics Market Forecast including Production, Consumption, Import
and Export Forecast by Type, Applications and Region.
• Research Findings and Conclusion
Precision Medicine Diagnostics Market- Regional Analysis
On the basis of region, the global precision medicine diagnostics market is segmented into
North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
Geographically, North America accounts for the largest share in the global precision medicine
diagnostics market, owing to increasing awareness and initiative related to precision medicine in
the North America. For instance, in 2015, the U.S Government launched the Precision Medicine
Initiative to revolutionize method to improve health and treat disease. The precision medicine
initiative will enable health care providers to adapt new treatment and prevention strategies to
people’s unique characteristics, including their genome sequence, micro-biome composition,
health history, lifestyle, and diet.
Europe is anticipated to witness significant growth in the precision medicine diagnostics market
over the forecast period due to expansion of key players in the region. For instance, in
February 2018, QIAGEN N.V. collaborated with and Sentieon, Inc., to advance precision
medicine by delivering Sentieon’s highly efficient variant-calling software. Qiagen N.V. is
expected to incorporate Sentieon’s variant-calling software into its bioinformatics portfolio,
supporting thousands of next-generation sequencing (NGS) labs and also planned to offer its
customer with Sentieon DNAseq and Sentieon TNseq products for germline and somatic variant
calling.
Some of the major players operating in the precision medicine diagnostics market include
Intomics, Ferrer Incode, Nanostring Technologies, Inc., Tepnel Pharma Services, Pfizer, Inc.,
Novartis AG, Teva Pharmaceuticals, Merck & Co., Inc., Qiagen N.V., and Quest Diagnostics.
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Precision Medicine Diagnostics Market- Taxonomy
By Technology:
Bioinformatics ,Gene Sequencing ,Drug Discovery ,Precision Molecular Diagnostics ,Big Data
Analytics
By Application:
Oncology ,Breast cancers ,Lung
Cancer ,Others ,CNS ,Hematology ,Respiratory ,Immunology ,Others
About Coherent Market Insights
Coherent Market Insights is a prominent market research and consulting firm offering actionready syndicated research reports, custom market analysis, consulting services, and competitive
analysis through various recommendations related to emerging market trends, technologies, and
potential absolute dollar opportunity.
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Author
Alex Huge
Alex Huge300   documents Email
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diagnostics, market, medicine, precision
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