Press Release

Precision Diagnostics Market Foresees Persistent Growth with the Introduction of Novel Therapies to Treat Serious Medical Conditions: Fortune Business Insights

Market Overview

Developments in The Human Genome Project have given tailwinds to the growth witnessed in the global “precision diagnostics market”. Fortune Business Insights shared 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.” The project focused on the development of novel precision medicine to facilitate tailored diagnosis as per a 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.

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-threatning illness.

Request a Sample Copy of the Research Report

Government-backed Investments and Presence of a Well-equipped Infrastructure Encourage Growth in North America

Among regions, North America is anticipated to dominate the global precision diagnostics market between 2018 and 2026. The presence of a 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.

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.

Please Visit:https://www.fortunebusinessinsights.com/industry-reports/precision-diagnostics-market-100357.

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

Ask for Customization

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.

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.

Some of the leading players operating in the global precision diagnostics market are Pfizer Inc., Novartis AG, Sanofi, Bayer AG, GlaxoSmithKline plc., Boehringer Ingelheim International GmbH, Bluebird bio, Inc., uniQure N.V., Amgen Inc., and CELGENE CORPORATION.

Have Any Query? Ask Our Experts

Related Reports:

Precision Diagnostics Market

Global Histone Inhibitors Market

Global Dental Articulators Market

Global Eye Supplements Market

Global Eye Supplements Market

Global Histone Inhibitors Market

Global Histone Inhibitors Market

Global Veterinary Point-of-Care Diagnostics Market

Global Veterinary Point-of-Care Diagnostics Market

Precision Diagnostics Market

Precision Diagnostics Market

Global Veterinary Point-of-Care Diagnostics Market

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

308, Supreme Headquarters,

Survey No. 36, Baner,

Pune-Bangalore Highway,

Pune – 411045, Maharashtra, India.

Phone:

US :+1 424 253 0390

UK : +44 2071 939123

APAC : +91 744 740 1245

Email:[email protected]

LinkedIn | Twitter | Blogs

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close