Precision Medicine Market Focuses On Extensive Research For Pancreatic Cancer
The Business Research Company’s Precision Medicine Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, February 16, 2022 /EINPresswire.com/ — Precision medicine market trends include the development of novel precision medicine for pancreatic cancer is shaping the market. Extensive research is being undertaken on different approaches to develop precision medicines for pancreatic cancer. For instance, in October 2020, scientists from the University Of Glasgow announced the development of a novel precision medicine approach for treating the damaged DNA in the cancer cells of pancreatic cancer patients. The team used grown cells from the lab, and replicas of patients’ tumors, to find molecular markers, which were used in the prediction and response to several drugs, targeting DNA damage. The researchers tested certain markers using multiple drugs, also developed a strategy that is taken forward into a clinical trial. The trial will help doctors and researchers to predict which patient will respond to one of these drugs, either alone or in combination.
The rising prevalence of cancer is projected to fuel the growth of the precision medicine market in the coming years. Cancer is one of the main causes of death worldwide, with one out of every five individuals developing cancer at some point in their lives. Precision medicine in cancer entails analyzing DNA from tumors to find mutations or other genetic abnormalities that cause cancer. Physicians may therefore be able to choose a treatment for a specific patient’s cancer that best fits, or targets, the tumor DNA alterations. For instance, according to the International Agency for Research on Cancer (IARC), the global cancer burden increased to 19.3 million cases and 10 million cancer deaths in 2020. Therefore, the rising prevalence of cancer drives the precision medicine market growth.
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https://www.thebusinessresearchcompany.com/report/precision-medicine-global-market-report
The global precision medicine market size 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 in the market 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 precision medicine market is expected to reach $134.82 billion in 2026 at a CAGR of 12.8%.
Major players covered in the global precision medicine industry are Qiagen, Novartis AG, Medtronic, AstraZeneca plc., Quest Diagnostics, Thermo Fisher Scientific Inc., Pfizer, Bristol-Myers Squibb, Merck & Co. Inc. and Tepnel Pharma Services.
TBRC’s global precision medicine market analysis report is segmented by technology into big data analytics, bioinformatics, gene sequencing, drug discovery, companion diagnostics, others, by application into oncology, respiratory diseases, central nervous system disorders, immunology, genetic diseases, others, by end-user into hospitals and clinics, pharmaceuticals, diagnostic companies, healthcare and IT firms, others.
Precision Medicine Global Market Report 2022 – By Technology (Big Data Analytics, Bioinformatics, Gene Sequencing, Drug Discovery, Companion Diagnostics), By Application (Oncology, Respiratory Diseases, Central Nervous System Disorders, Immunology, Genetic Diseases), By End-User ( Hospitals And Clinics, Pharmaceuticals, Diagnostic Companies, Healthcare And IT Firms)– Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a precision medicine market overview, forecast precision medicine market size and growth for the whole market, precision medicine market segments, geographies, precision medicine market trends, precision medicine market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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