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New York, March 03, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Precision Medicine Global Market Report 2022” – https://www.reportlinker.com/p06241913/?utm_source=GNW
The global precision medicine market is expected to grow from $72.58 billion in 2021 to $83.16 billion in 2022 at a compound annual growth rate (CAGR) of 14.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $134.82 billion in 2026 at a CAGR of 12.8%.
The precision medicine market consists of sales of precision medicines and related services by entities (organizations, sole traders, and partnerships) that are used to treat diseases by relying on genomics and specific biomarker techniques.It allows doctors or physicians to select a treatment plan or drug therapy based on the patient’s genetic understanding of their disease, environment, and lifestyle.
The precision medicine technologies also assist researchers and doctors in developing accurate treatment and prevention strategies for a particular disease that will work on a specific group of people.
The main technologies involved in precision medicine are bioinformatics, big data analytics, drug discovery, gene sequencing, companion diagnostics, and others.Bioinformatics technologies involve the application of computational tools to organize, analyze, understand, visualize and store information associated with biological macromolecules.
It is used in oncology, respiratory diseases, central nervous disorders, immunology, genetic diseases, others and is implemented in various sectors such as hospitals and clinics, pharmaceuticals, diagnostic companies, healthcare, and IT firms, among…
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