The global precision medicine market is expected to grow rapidly through 2026, according to a report by BIS Research.
Here are six market trends to know:
1. The global precision medicine market is expected to reach $141.7 billion by 2026.
2. Adoption of early stage treatments, the rise in adverse drug reactions cases, prevalence of chronic diseases and advancement in genetic science are key factors driving the market.
3. Market inhibitors include the potential threat to personal data.
4. In 2016, the market was dominated by the oncology segment. The segment is anticipated to grow at a compound annual rate of 10.4 percent from 2017 to 2026.
5. North America dominated the global precision medicine market in 2016, and its share is expected to grow with a CAGR of 9.66 percent from 2017 to 2026.
6. The Asia Pacific region is expected to be the fastest growing market, with a CAGR of 15.09 percent through 2026.