Precision Medicine Market size to grow by USD 54.07 billion from 2022 to 2027|Gr… – Press Release


NEW YORK, July 4, 2023 /PRNewswire/ — The precision medicine market size is estimated to grow by USD 54.07 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 11.32% during the forecast period. Technavio estimates that the growth momentum will be progressing. For more insights on the historic (2017 to 2021) and forecast market size (2023 to 2027) – Request a sample report

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Precision Medicine Market – Segmentation Assessment
Segment Overview
Technavio has segmented the market based on application (Oncology, CNS, Respiratory, Immunology, and Others), technology (Bioinformatics, Gene sequencing, Drug discovery, Precision molecular diagnostic, and Big data analytics), and geography (North America, Europe, Asia, and Rest of World (ROW)). 

  • The market share growth by the oncology segment will be significant during the forecast period. Precision medicine permits doctors to develop personalized treatment plans tailored to specific genetic mutations. Doctors can identify specific molecular pathways involved in the development and progression of cancer. Precision medicine has different applications in oncology. When compared to traditional chemotherapy, these drugs have fewer side effects and more effectiveness. They hinder the growth and spread of cancer while minimizing harm to healthy tissues. Also, precision medicine is used in immunotherapy, which uses a patient’s immune system to treat cancer. Additionally, precision medicine is used to identify patients at higher risk of developing certain types of cancer. Therefore, the rising use of precision medicine in oncology will fuel the growth…