Europe Precision Medicine Market byTechnology (Big Data Analytics, Bioinformatics, Gene sequencing, Drug Discovery, Companion Diagnostic, and Others); End-users (Diagnostic tool companies, Healthcare IT/ Big data companies, Pharma & Biotech companies, and Clinical Labs); and for Application (Oncology, CNS,Immunology, Respiratory and Others) – Europe Industry Analysis, Size, Share, Growth, Trends, and forecast 2014 – 2022

Europe biologics outsourcing market is expected to reach USD 72,800.0million by 2022 and is expected to exhibit a CAGR of more than 10.2% between 2017 and 2022.

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05-Feb-2018 | Number of pages: 120 | Report Code: ZMR-2578 | Report Format : | Status : Published

Abstract

Report Brief

  • The report covers forecast and analysis for the precision medicines market on regional and country level
  • The report includes the positive and the negative factors that are influencing the growth of the market
  • Detailed information about the market opportunities are discussed
  • The key target audience for the market has been determined in the report
  • The revenue generated by the prominent industry players has been analyzed in the report
  • The market numbers have been calculated using top-down and the bottom-up approaches 
  • The precision medicines market has been analyzed using Porter’s Five Forces Analysis
  • The market is segmented on the basis of technology, End-user, and applications, which in turn bifurcated on country level as well
  • All the segments have been evaluated based on the present and the future trends
  • The report deals with the in-depth quantitative and qualitative analyses of the Europe precision medicine market
  • The report includes the detailed company profiles of the prominent market players

Market Summary

Overview

The main aspect which will prompt the growth of the Europe precision medicine market is the increasing improving patient outcomes by using precision medicine. The healthcare institutions in Europe are willing to use genetic testing and analytics technologies, payers willing to reimburse the cost of high-value drugs, drug companies that focus on developing new personalized therapies, companion diagnostics providers that drive improvements in information gathering, and genetic analytics services which help interpret the results. Considering all the above factors the market for precision medicines in Europe is expected to propel significantly during the forecast period

Value

The Europe precision medicine market was valued at around USD 33,200.0 million in the year 2014 and it is expected to reach approximately USD 72,800.0million by 2022. The Europe precision medicine market is expected to grow at a CAGR of over10.2% between 2017 and 2022.

Drivers and Restraints

The major factor driving the growth of Europe precision medicine market is the Increasing demand for personalized treatment. There are large, established online forums that help clinicians collaborate with one another and share information, which will help in the diagnosis and treatment of patients in a better manner.increasing focus on targeted therapy by reducing trial and error medicine, growing demand of non-invasive testing procedures, reducing adverse drug reactions through pharmacogenomics testing, advancement of technology in understanding human biology & disease susceptibility, and shift in the significance of medicine from reaction to prevention, among others.

However, several clinical, economic, ethical and regulatory conditions will continue to challenge the growth of this industry in the years to come.

Segmentation

Big data analytics technology segment is accounted for the largest market share in 2017 and expected to dominate the market by the end of forecast period. Becoming more widely available are health information technology platforms that securely store and analyze vast amounts of electronic health record data from thousands of patients, providing doctors with new information and insight to help them deliver more personalized care to their patients.

The diagnostic tool companies segment dominates the European precision medicines market by end-users. One of the major benefits of precision medicine is that it uses a comprehensive profile of the patient to determine an appropriate treatment. This includes not just genetics, but family history, diet, exercise, stress level and more. These factors enable a healthcare provider to develop an effective treatment plan that is not based on the average patient, but the individual patient, instead. 

Considering all the factors the diagnostic tool companies pays a vital role in precision medicine market and hence contribute to the largest share

Considering the applications of Europeprecision medicine market, Oncology segment is anticipated to hold the largest market share.The genetic information has provided the understanding that not only do tumors differ within tumor heterogeneity, but the information clearly shows that each patient’s individual tumor is an assemblage of inimitable molecular irregularities that will require an equally exclusive personalized therapeutic regimen. This has increased the preference for precision medicine in oncology applications.

Germany contributes to the largest market share of Europe precision medicine market. The U.K. is expected to grow at high CAGR for the precision medicine deployments in Europe, due to different kinds of solutions being offered and services being delivered in the country. Moreover, countries such as Spain, France, and Italy have shown tremendous growth in precision medicine solution developments. 

Industry Players

The report includes detailed profiles of the prominent market players that are trending in the market. The list of the players that are compiled in the report areRoche, QIAGEN N.V., Cepheid, Inc, Johnson & Johnson Services, Inc., Illumina, Almac Group, bioMérieux SA, Intel Corporation, GE Healthcare, Novartis, Thermo Fisher Scientific, and much more.

The prominent market players maintain the competitive edge in the global market by making investments in the mergers and acquisitions and by increasing their product portfolio. For instance recently on 8th January 2018, GE Healthcare and pharmaceutical giant Roche announced a partnership to develop and co-market digital clinical decision support solutions.  The companies said that they will focus on precision medicine products to accelerate and improve individualized treatments for cancer and critical care patients.

Graphical Representation of Europe Precision Medicine Market Growth

Europe-precision-medicines-Market.png


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