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Precision Diagnostics Market Size, Share and Geography Forecast till 2026

Developments in The Human Genome Project has given tailwinds to the global precision diagnostics market. Fortune Business Insights announced this information in a report, titled “Precision Diagnostics Market Size, Share and Global Trend By Type (Genetic tests, Esoteric tests), End Users (Hospitals, Clinical laboratories) and Geography Forecast till 2026.” This project has given birth to novel precision medicine, allowing tailored diagnosis as per the patient’s specifications. Moreover, the project introduced some cutting-edge technologies such as targeting sequencing and genome sequencing. Researchers are adopting these technologies to create personalized precision medicine and therapies for the treatment of rare disorders.

Browse Complete Report Details at https://www.fortunebusinessinsights.com/industry-reports/precision-diagnostics-market-100357

Key players leading the global Precision Diagnostics Market include,

  • Pfizer Inc.
  • Novartis AG
  • Sanofi,
  • Bayer AG
  • GlaxoSmithKline plc.
  • Boehringer Ingelheim International GmbH
  • Bluebird bio, Inc.
  • uniQure N.V.
  • Amgen Inc., and CELGENE CORPORATION.

As per research studies, the prevalence of rare diseases such as immunology, neurology, and oncology is increasing at a rapid rate. Precision diagnostics is anticipated to augment the need for developing novel techniques and tools such as biomarkers. These tools are likely to treat patients with the life-threating illness.

Government-backed Investments and Well-Equipped Infrastructure Encourages Growth in North America

Among regions, North America is anticipated to dominate the global precision diagnostics market between 2018 and 2026. Well-established healthcare infrastructure in the region is driving the market. This, coupled with rising governments support for the development of precision diagnostics, enhances the market’s growth. In addition to this, the rising number of research and development (R&D) investments by government bodies is expected to register growth in the market by 2026.

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Rising awareness about precision medicine in Asia Pacific is expected to fuel demand for precision medicine diagnostics in the coming years. The market in this region is likely to witness ample growth opportunities primarily on account of rising disposable income on healthcare. In addition, increasing importance on patient care in this region is poised to support the market’s growth.

Market Progresses with DxTerity’s Launch of a New AIP Test for Home Patients

“Recent advancements in gene therapy such as gene sequencing, companion diagnostics among others can help to treat severe illness,” stated a lead analyst at Fortune Business Insights. “Development of precision therapies for the treatment of cancer and Alzheimer’s is likely to contribute to the revenue of the global market,” he added. The rising prevalence of neurological disorders is also expected to fuel demand for precision diagnosis in the forecast horizon. Companies are also planning to focus on strategies to develop precision medicines, catering to specific patient’s requirements.   For instance, DxTerity Diagnostics Inc. developed a new test called autoimmune profile (AIP) test in October 2018. This test is cost-effective and is catered to home patients. Tailor-made precision diagnosis of acute infectious diseases medicine is anticipated to gain popularity as these medicines fit in every individual’s frame. This will further drive the precision diagnostics market.

The demand for different types of precision diagnostic tests such as esoteric tests, genetic tests among others is expected to increase in the forthcoming years. Among these, genetic tests are estimated to cover the major share in the global precision diagnostics market. The increasing awareness about the early diagnosis of genetic disorders is likely to drive this segment’s growth in the upcoming years.

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Contrary to this, high costs involved in the R&D of precision medicine and therapies may hamper the growth by 2026. Also, as per the report, the higher failure rate of clinical trials for precision medicine is expected to impede the growth of the market.

UCLA Adopts AI Tool for Advance Precision Medicine and Ensure the Best Patient Care

Precision therapies are likely to show positive results with precise information. This is encouraging companies to adopt precision tools and help patients to improve their quality of life. With the emergence of advanced technology, companies such as UCLA Health are planning to deploy cloud-computing services to introduce new precision therapies. The company is taking help from Microsoft’s artificial intelligence (AI) platform for research on advanced precision medicine and substantially improve patient care. Strategic developments are also expected to help companies strengthen their market position. For instance, Quest Diagnostics and International Business Machines Corporation (IBM) together announced the launch of a genomic sequencing service called Watson Genomics in October 2016. The service is widely available to patients and physicians across the world.

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Precision Diagnostics Market Analysis by Top Key Players – Pfizer Inc., Novartis AG, Bayer AG, Sanofi and more

The Global Precision Diagnostics Market is probably going to grow in the coming years, because of the advances made in quality treatments and quality substitution. According to a report published by Fortune Business Insights, titled “Precision Diagnostics Market: Global Market Analysis, Insights and Forecast,2019 to 2026”.

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Top Leaders Overview:

Some of the leading companies in the Global Precision Diagnostics Market are

  • Pfizer Inc.
  • Novartis AG
  • Bayer AG
  • Sanofi
  • GlaxoSmithKline plc.
  • Amgen Inc.
  • Boehringer Ingelheim International GmbH,
  • uniQure N.V.
  • bluebird bio, Inc.
  • CELGENE CORPORATION and other players.

The Global Precision Diagnostics Market derives growth from a number of factors such as increasing focus on research and development (R&D), increasing investment from leading companies towards R&D. Besides this, increasing regulatory approvals from organizations such as the Food and Drug Administration (FDA) have contributed significantly to the global Precision Diagnostics Market.

Furthermore, newer drug discoveries as a result of the emphasis on R&D have favored the growth of the global Precision Diagnostics Market and are likely to boost the market in the coming years. Backed by contributions from the government as well as private organizations, the global Precision Diagnostics Market is likely to gain traction in the coming years.

Major Regional Analysis:

North America, Europe, Asia Pacific, Latin America, Middle East & Africa is likely to emerge as the leading region in the global market. Fortune Business Insights states that North America is likely to exhibit the highest CAGR in the forecast period.

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

Browse Complete Report Details at https://www.fortunebusinessinsights.com/industry-reports/precision-diagnostics-market-100357

Major Segmental Overview:

By Type

By End User

By Geography

The report offers detailed market analysis and insights for the global Precision Diagnostics Market. Fortune Business Insights segments the market based on various factors. Besides this, Fortune Business Insights profiles leading market players and predicts market values for the forecast period 2019 to 2026. The report also includes various growth drivers and restrains that had a substantial impact on the global market.

Major Table of Content for Precision Diagnostics Market:

  1. Introduction
  2. Executive Summary
  3. Market Dynamics
  4. Key Insights
  5. Global Precision Diagnostics Market Analysis, Insights and Forecast, 2014-2025
  6. North America Precision Diagnostics Market Analysis, Insights and Forecast, 2014-2025
  7. Europe Precision Diagnostics Market Analysis, Insights and Forecast, 2014-2025
  8. Asia Pacific Precision Diagnostics Market Analysis, Insights and Forecast, 2014-2025
  9. Middle East and Africa Precision Diagnostics Market Analysis, Insights and Forecast, 2014-2025
  10. Latin America Precision Diagnostics Market Analysis, Insights and Forecast, 2014-2025
  11. Competitive Landscape
  12. Company Profile
  13. Conclusion

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