The Global Non-Oncology Precision Medicine Market was valued at USD 45.0 billion in 2020, and it is expected to reach USD 130.2 billion by 2027, with a CAGR of 16.4%, during the forecast period from 2021-2027.
Precision medicine is an approach to patient care that is based upon the idea that a condition of patient suffering with cancer, immunodeficiency disorder, or any genetic disorder is not necessarily the same in someone else who has that condition. The genes inherited form generations and the environment where one lives can influence one’s health and symptoms. Thus, treatment may vary from individual to individual. Precision medicines attempts to understand how variations in patient's genes influence health. Mostly precision medicine is used for cancer treatments. However, advances in research and technologies, precision medicines are now a days used to treat different diseases and disorders.
Rising number of incidences of infectious and respiratory diseases, ability to provide personalized treatment, and investment by market players are some of the major driving factors of the non-oncological precision medicine market. For instance, since past four years (2016- 2020), the market witnessed approximately four funding and investments, 59 collaborations and partnerships, 44 product launches and enhancements, 18 mergers and acquisitions, 26 regulatory and legal activities, and six business expansions.
The Global Non-Oncology Precision Medicine Market Segmentation:
Based on ecosystem type, applied sciences segment held the largest share in 2020.
The global non-oncology precision medicine market (by ecosystem) is segmented into applied sciences, precision therapeutics, digital health and information technology, and precision diagnostics. Applied sciences accounted for the largest share of the market and is expected to hold it’s share during the forecast period. Scientific discovery and technological advancement will continue to accelerate personalized medicine and offer exciting prospects to both corporations and patients.
Based on application type, Infectious disease is projected to hold highest market share during the forecast period.
Non-oncology precision medicines market is broadly segmented on basis of application such as infectious diseases, cardiovascular, neurological and others. Infectious disease segment accounted for the maximum share of the market. The COVID-19 pandemic itself caused more than half a million deaths by August 2020. The spiking number of incidences of infectious disease globally has made governments worldwide increasingly adopt precise diagnostic and treatment methods to tackle the ever-increasing disease burden.
Geographically, North America held the largest share of the market in 2020.
Geographically, North America is expected to hold maximum market share of non-oncology precision medicine market. Presence of advanced technology, increase in diseases patient population, and sophisticated healthcare infrastructure are some of the major factors for the dominance of the region across the world.
The Asia-Pacific region has been witnessing tremendous growth in precision medicine technology. APAC is home to several developing countries, such as China, India, Japan, and Australia, which are rapidly innovating and researching for precision medicine solutions to cater to better patient care.
The report also provides in-depth analysis of the Non-Oncology Precision Medicine Market dynamics such as drivers, restraints opportunities and challenges
Drivers
Restraints
Opportunities
Challenges
COVID-19 Impact on the Non-Oncology Precision Medicine Market Analysis
Covid-19 has highly affected the industries in terms of growth, economy, health, and mental wellbeing of every individual. In this challenging situation, every industry is trying to give best services in terms of quality and safety. Healthcare sector has highly affected by covid outbreak. However, the precision medicine has not much affected due to coronavirus. This uncertain outbreak of coronavirus has led increase in demand for technology advances, transformation, and adaptability of non-oncology precision medicine. Rapid increase in respiratory diseases has led to increase in growth proliferating factor for non-oncology precision medicine as an immediate need for accurate drug treatment. Coronavirus has brought new light on non-oncology precision medicine market.
Covid does not had direct impact on precision medicines but provided an opportunity for the development of non-oncological precision medicines for other diseases like infectious, cardiovascular etc, which stood to be post covid treatment.
The report also provides in-depth analysis of key trends in Non-Oncology Precision Medicine market
|
Sr. No. |
Trends |
Impact |
|
1 |
Due to Covid-19, there has been an opportunity for the use of non-oncology precision medicines for respiratory disease. |
Positive |
|
2 |
Research alliance across industry and academia |
Positive |
The report also provides in-depth analysis of recent news developments and investments
Company Profiles and Competitive Intelligence
The key players operating in the Non-Oncology Precision Medicine Market are:
The unique insights provided by this report also includes the following:
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