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(Medical-NewsWire.com, May 26, 2017 ) As per the syndicated report published by Market Data Forecast, Europe Precision Medicine Market which is estimated to be USD 10.94 billion in 2016 and expected to grow at a CAGR of 10.9%, to reach USD 18.34 billion by 2021 with a cumulative growth rate of USD 1.90 billion in the span of five years.
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It can attributed to the factors such as 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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Precision medicine is "an emerging approach for disease treatment and prevention that takes into account individual variability in genes, environment, and lifestyle for each person." This approach will allow doctors and researchers to predict more accurately which treatment and prevention strategies for a particular disease will work in which groups of people. It is in contrast to a "one-size-fits-all" approach, in which disease treatment and prevention strategies are developed for the average person, with less consideration for the differences between individuals. Although the term "precision medicine" is relatively new, the concept has been a part of healthcare for many years.
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Europe Precision Medicine Market is segmented based on technology and application below for obtaining a more granular perspective of the market. In the report each sub segment is provided with Market Size Estimations and Y-o-Y Forecasts.
Technology
Big Data Analytics
Bioinformatics
Gene Sequencing
Drug Discovery
Companion Diagnostics
Others
Application
Oncology
CNS
Immunology
Respiratory
Others
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Europe is an amalgamation of major economies like Germany, Spain, Italy, U.K. and France among others to name a few. The report justifies this by offering country wise data for the EU5 countries while taking some other predominant economies into consideration as well (Rest of Europe). 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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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.
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The Precision Medicine market study offers the following deliverables:
Regional and country-level analysis that provides an innate perspective of European region and the aforementioned countries
Meticulously identifying the key areas of market growth by providing market size forecasts and y-o-y estimations at a Segment-level analysis
Explanations of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of macro and micro environmental factors that affect the European market presented in the form of PESTLE and Porters Five Forces Analyses
Company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and analyst overview of the key market players operating in the region
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
Expertly devised Market Outlook - Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
Checkout other related studies in the Europe Pharmaceuticals Segment:
Europe Anti-aging Market: http://www.marketdataforecast.com/market-reports/europe-anti-aging-market-1400/
Europe Anticoccidial Drugs Market: http://www.marketdataforecast.com/market-reports/europe-anticoccidial-drugs-market-23/
Europe Antifungal Drugs Market: http://www.marketdataforecast.com/market-reports/europe-anti-fungal-drugs-market-246/
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