Global Non-Oncology Precision Medicine Market:Focus on Application Area, Ecosystem Type, Country Data (15 Countries) - Analysis and Forecast, 2020-2030
Report Highlights
Global Non-Oncology Precision Medicine Market to Reach $129.96 Billion by 2030
Market Report Coverage - Non-Oncology Precision Medicine
Market Segmentation
- By Application: Infectious Diseases, Neurology, Cardiovascular, Lifestyle and Endocrinology, Gastroenterology, Other Applications
- By Ecosystem: Applied Sciences, Precision Diagnostics, Digital Health and Information Technology, Precision Therapeutics
- By Region: North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World
Regional Segmentation
- North America – U.S., Canada
- Europe – Germany, France, Italy, U.K., Spain, Rest-of-Europe
- Asia-Pacific – China, Japan, Australia, India, Rest-of-Asia-Pacific
- Latin America – Brazil, Mexico, Rest-of-LATAM
- Rest-of-the-World
Growth Drivers
- Improved availability of targeted therapies and decreasing trial and error-based prescription
- Reduced chances of adverse drug reactions
- Decreasing overall cost of genome sequencing
- Rising prevalence of chronic diseases
Market Challenges
- Unclear regulatory framework and reimbursement scenario for personalized medicine
- Limited knowledge about molecular mechanism/interaction
- Integrating and securing Electronic Health Record
Market Opportunities
- Research alliance across industry and academia would accelerate the market entry
- Strong product pipeline and increasing FDA approvals
Key Non-Oncology Precision Medicine Companies Profiled
Abbott Laboratories, Agilent Technologies, Inc., Asuragen, Inc., Almac Group, AstraZeneca PLC, Bristol Myers Squibb, bioMérieux SA., BGI, Bio-Rad Laboratories, Inc F. Hoffmann-La Roche AG, Danaher Corp., GlaxoSmithKline plc., Gilead Sciences, Inc. Illumina, Inc., Invitae Corporation, Opko Health, Inc., Laboratory Corporation of America Holdings, Pacific Biosciences of California, Inc., Partek Incorporated, Randox Laboratories Ltd., Teva Pharmaceutical Industries Ltd., Thermofisher Scientific, QIAGEN, and Quest Diagnostics
Key Questions Answered in this Report:
- What are the various types of technologies available in the non-oncology precision medicine market, and what are the benefits offered by them?
- What are the key development strategies implemented by the key players to stand out in this market?
- What are the emerging technologies that can take over the current technologies for molecular diagnosis within the non-oncology precision medicine market?
- How have the strategic collaborations among the key players and academia provided a push to product development within the non-oncology precision medicine market?
- Which technology has witnessed maximum adoption in terms of patent filing and development of molecular therapeutics within the market, and why?
- What are the regulations pertaining to the global non-oncology precision medicine market in different regions?
- What are the initiatives implemented by different government bodies regulating the development and commercialization of non-oncology precision medicine products and associated platforms?
- How has COVID-19 impacted the non-oncology precision medicine market?
- How will the urgency of the pandemic influence the global non-oncology precision medicine market?
- What are the leading companies dominating the global non-oncology precision medicine market?
- What are the significant research and developmental investments performed by the key market players?
- What is the reimbursement scenario of the products offered in the global non-oncology precision medicine market?
- Based on the application area, which global non-oncology precision medicine market application area is anticipated to witness a massive rise in demand in the forecast period?
- How is each segment of the global non-oncology precision medicine market expected to grow during the forecast period, and what is the revenue expected to be generated by each of the segments by the end of 2030?
Market Overview
The precision medicine approach is used for several disease management, such as oncology, immunology, neurology, and infectious diseases. In the non-oncology precision medicine market, the application of molecular biology is for studying the cause of a patient's disease at the molecular level for diseases other than cancer, so that target-based therapies or individualized therapies can be applied to cure the patient's health-related problems.
The global non-oncology precision medicine market was valued at $41.1 in 2019, and it is expected to grow at an impressive double-digit rate of 11.03% and reach a value of $129.96 in 2030.
The existing non-oncology precision medicine market is favored by multiple factors, which include rising government initiatives, coupled up with the general population’s growing awareness pertaining to molecular level diagnosis and treatment. Additionally, the increasing number of advancements in molecular diagnostics, more key players interested in investing for the development of novel personalized therapies, and increasing FDA approvals for such drugs among others.
Within the research report, the market is segmented on the basis of application (infectious diseases, neurology, cardiovascular, lifestyle and endocrinology, gastroenterology, other applications), ecosystem type (applied sciences, precision diagnostics, digital health and information technology, precision therapeutics), and region (North America, Europe, Asia Pacific, Latin America, and Rest-of-the-World). This segmentation highlights value propositions and business models useful for industry leaders and stakeholders. The research also comprises country-level analysis, go-to-market strategies of leading players, future opportunities, among others, to detail the scope and provide a 360-coverage of the domain.
Competitive Landscape
The non-oncology precision medicine market witnessed 59 collaborations and partnerships, four fundings and investments, 44 product launches and enhancements,26 regulatory and legal activities,18 mergers and acquisitions, and six business expansions during the period January 2016-August 2020.
Major players within the non-oncology precision medicine market are Abbott Laboratories, Agilent Technologies, Inc., Asuragen, Inc., Almac Group, AstraZeneca PLC, Bristol Myers Squibb, bioMérieux SA., BGI, Bio-Rad Laboratories, Inc F. Hoffmann-La Roche AG, Danaher Corp., GlaxoSmithKline plc., Gilead Sciences, Inc. Illumina, Inc., Invitae Corporation, Opko Health, Inc., Laboratory Corporation of America Holdings, Pacific Biosciences of California, Inc., Partek Incorporated, Randox Laboratories Ltd., Teva Pharmaceutical Industries Ltd., Thermofisher Scientific, QIAGEN, and Quest Diagnostics.
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