Precision Medicine: Key Trends, Regional Analysis and Market Forecasts 2022-2027

• Market Dynamics: This section of the precision medicine study features strategic analysis of the major drivers, challenges, and innovations shaping the adoption and development of precision medicine, with key factors including the following market segmentation:
  • COVID-19 pandemic impact on the precision medicine market
  • Future strategic direction, market share and market outlook for precision medicine 
  • Key issues precision medicine vendors must be aware of surrounding legislation and data sharing 
• Regional Analysis: A regional market-level analysis of 16 countries, spanning 8 key regions within the healthcare infrastructure; covering the current deployment level of precision medicine applications and the future outlook of precision medicine in each market.
• Key Takeaways & Strategic Recommendations: Analysis of a wide range of key development opportunities and major factors within the market for precision medicine in the healthcare industry, accompanied by key strategic recommendations for stakeholders.
• Benchmark Industry Forecasts: Investigating lucrative growth of precision medicine market size in full; including forecasts for the total number of patients taking genetic tests for precision medicine, the total number of genetic tests carried out for precision medicine, total number of precision medicine patients receiving medical treatment options and precision medicine drugs, total spend on precision medicine test and treatment, and total precision medicine revenue. This precision medicine market growth data is split by our 8 key forecast regions and 60 countries:
  • North America:
    • Canada, United States
  • Latin America:
    • Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, Uruguay
  • West Europe:
    • Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, United Kingdom
  • Central & East Europe:
    • Croatia, Czech Republic, Hungary, Poland, Romania, Russia, Turkey, Ukraine
  • Far East & China:
    • China, Hong Kong, Japan, South Korea
  • Indian Subcontinent:
    • Bangladesh, India, Nepal, Pakistan
  • Rest of Asia Pacific:
    • Australia, Indonesia, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam
  • Africa & Middle East:
    • Algeria, Egypt, Israel, Kenya, Kuwait, Nigeria, Qatar, Saudi Arabia, South Africa, United Arab Emirates
• Juniper Research Competitor Leaderboard: Key player capability and capacity assessment in the healthcare sector for 15 precision medicine vendors:
  • Abbott Laboratories
  • Almac Group Ltd
  • AstraZeneca
  • Asuragen Inc
  • Biomérieux Sa
  • Bristol-Myers Squibb
  • Cepheid Inc
  • Ge Healthcare
  • IBM
  • Illumina Inc
  • Laboratory Corporation of America Holdings
  • Novartis
  • Qiagen
  • Quest Diagnostics
  • Thermo Fisher Scientific Inc.

1. How will key market trends affect projected precision medicine adoption?
2. What technologies will accelerate precision medicine?
3. Who are the leading vendors in the precision medicine market?
4. What limitations are there holding back precision medicine?
5. In which regions will precision medicine be most successful?

Included in the Juniper Research Competitor Leaderboard: Abbott Laboratories, Almac Group, AstraZeneca, Asuragen, Biomerieux, Bristol-Myers Squibb, Cepheid, Ge HealthCare, IBM, Illumina, LabCorp, Novartis, Qiagen, Quest Diagnostics, Thermo Fisher Scientific.
 
Mentioned: DNAnexus, Dragonfly, Genomics England, GNS Healthcare, GRAIL, Interscience, Janssen, Kaiku Health, Kura Oncology, LabShares, Loxo Oncology, Lyon Civil Hospitals, Merck, Millennium Pharmaceuticals, Mirrhia, Myriad Genetics, Obsidian Therapeutics, Ono, Paige (Pathology Artificial Intelligence Guidance Engine), Partners HealthCare, PathAI, Personal Genome Diagnostics, Pfizer, Qiagen, Roche, Shanghai Children’s Medical Centre, The Max Foundation, Turning Point Therapeutics, Walmart, Wave Life Science, Wellcome Sanger Institute.
 
 

Key Market Forecast Splits

• Diagnosis
• Treatment

Metrics including the number of precision medicine patients, number of genetic tests carried out for precision medicine, total number of precision medicine patients receiving treatment, total spend on precision medicine test and treatment and total precision medicine revenue.

Geographical splits: 60 countries
Number of tables: Over 18 tables
Number of datapoints: Over 12,000 datapoints

harvest: Our online data platform, harvest, contains the very latest market data and is updated throughout the year. This is a fully featured platform enabling clients to better understand key data trends and manipulate charts and tables; overlaying different forecasts within the one chart - using the comparison tool. Empower your business with our market intelligence centre, and receive alerts whenever your data is updated.

Interactive Excels (IFxl): Our IFxl tool enables clients to manipulate both forecast data and charts, within an Excel environment, to test their own assumptions using the interactive scenario tool and compare selected markets side by side in customised charts and tables. IFxls greatly increase a client’s ability to both understand a particular market and to integrate their own views into the model.
 

The total spend on precision medicine will reach $132.3 billion globally by 2027; increasing from only $35.7 billion in 2022. This strong growth of 270% is a result of emerging technologies and infrastructure, such as AI, which aids precision medicine by predicting risks for certain diseases. These technological advancements, combined with the healthcare sector’s need to increase efficiencies in the face of an economic downturn, will encourage healthcare providers to invest further into precision medicine.

• Benefits such as reductions in adverse reactions from ineffective medication, improving the efficacy of treatments plans via personalisation, and cutting patient spend on medication, will be the primary drivers of precision medicine adoption amongst healthcare providers. To maximise these benefits, the report identified the use of AI to ingest and process large amounts of healthcare data to increase the future accuracy of diagnoses.
• The most significant issue surrounding precision medicine will arise from patient data privacy concerns. In many countries, but predominantly the US, there are fears that the uncovering of genetic predispositions using precision medicine will lead to insurance providers leveraging these insights to increase healthcare premiums. To allay these concerns, vendors must consider voluntarily adopting strong codes of conduct around data privacy, as well as creating independent advisory councils, to reassure users and limit the scope of data sharing.