Published Date: 2021-09-27
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European Precision Medicine Market size is expected to surpass USD 27 billion by 2027, according to a latest forecast report by Graphical Research.
For cancer treatment, precision medicine means using biomarkers and other tests to select treatments that are best suited. Advances in precision medicine owing to the availability of large-scale human genome databases and the advancement of computational tools are contributing factors for the industry progression. These tools have also been used to study epigenetic changes related to cancer, mechanisms of DNA repair and damage, and gene regulation in cancer cells. Therefore, advancements in cancer biology will prove beneficial for the overall market expansion.
The therapeutics segment accounted for around USD 6.5 billion revenue in 2020. There has been continuous development in the precision therapeutics for the targeted treatment of conditions including genetic disorders and cancer. Additionally, market participants are also involved in the development of targeted therapies for numerous indications that accelerates the segmental growth.
The oncology segment held over USD 7 billion revenue in 2020 due to surging cases of cancer across the Europe. Changes in genetic makeup often elevates the risk of developing cancer and can widely affect the way patient responds to the treatment that is enhancing the overall adoption of personalized medications in the market.
Browse detailed statistical insights from the report, “Europe Precision Medicine Market Forecast 2027 By End-use (Hospitals, Diagnostic Centers, Research & Academic Institutes), By Product Type (Diagnostics {Genetic Tests, Biomarker Based Tests}, Therapeutics), By Application (Oncology, CNS, Immunology, Respiratory), Research Report, Country Outlook (Germany, France, UK, Italy, Spain, Denmark, Sweden, Finland, Norway), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/1953/europe-precision-medicine-market
The hospital segment dominated more than 40% market share in 2020. Availability of specialists and primary care physicians at hospital settings for effective patient care is expected to propel the segmental progression. Moreover, better quality care as well as advanced infrastructure provided in hospital settings proves beneficial for the segment growth.
The France precision medicine industry is set to exhibit around 10.5% CAGR over the projected timeline. High prevalence of cancer and other genetic disorders in France will foster the demand for personalized medication. Also, surging awareness in French people regarding the importance of precision medicine for better patient care is expected to foster the country-level growth.
The European precision medicine market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027, for the following segments:
Europe Market, By Product
Europe Market, By Application
Europe Market, By End-use
The above information has been provided for the following countries:
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