NEW YORK, May 16, 2022 /PRNewswire/ — As per Zion Market Research study, The global Europe precision medicine market was worth around USD 14,926.5 million in 2021 and is estimated to grow to about USD 27469 million by 2028, with a compound annual growth rate (CAGR) of approximately 10.7 percent over the forecast period. The report analyzes the Europe precision medicine market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Europe precision medicine market.
Key Industry Insights & Finding of the Europe precision medicine Market Reports:
- As per the analysis shared by our research analyst, the Europe precision medicine Market is expected to grow annually at a CAGR of around 10.7 % (2022-2028).
- Through the primary research, it was established that the Europe precision medicine Market was valued approximately USD 14,926.5 Million in 2021 and is projected to reach to roughly USD 27469 Million by 2028.
- Europe is anticipated to see high demand for precision medicine owing to rising investments in the healthcare sector to advance healthcare facilities and provide better treatment opportunities.
- The United Kingdom holds a major market share in the Europe precision medicine industry landscape and is expected to maintain this stance over the forecast period as well.
- France, Germany, Spain, and Italy are also expected to be highly lucrative markets owing to increasing investments in the advancement of healthcare infrastructure.
Zion Market Research published the latest report titled as “Europe precision medicine Market By Technology (Big Data Analytics, Bioinformatics, Gene Sequencing, Drug Discovery, Companion Diagnostics, Other Technologies), By Application (Oncology, CNS, Immunology, Respiratory, Other Applications), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028″ into their research database.
Europe precision medicine Market: Overview
Precision medicine has gained popularity across the world and this trend is anticipated to be prominent in the European region as well. –Increasing prevalence of chronic diseases, rising geriatric population, high research and development activity, and presence of key precision medicine manufacturers are some of the major factors that drive the Europe precision medicine market potential.
Increasing investments in healthcare infrastructure will further bolster the Europe precision medicine market potential in the long run. Rising instances of cancer are also projected to provide an impetus to the Europe precision medicine market growth through 2028.
However, the high costs associated with maintenance and installation of precision medical devices are expected to have a hindering effect on the global Europe precision medicine market growth over the forecast period.
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- Zion Market Research methodology
Europe precision medicine Market: Growth Dynamics
Drivers: Increasing Research and Development Activity.
There have been substantial advancements in the global healthcare industry and this trend is anticipated to boost the Europe precision medicine market potential over the forecast period. As the prevalence of chronic diseases is increasing and the demand for better treatment and diagnosis as well, the Europe precision medicine market is expected to see high demand. Increasing investments in research and development by healthcare companies and governments alike are expected to be prominent trends driving the Europe precision medicine market potential through 2028.
Restraints: High Installation and Maintenance Costs to Hamper growth.
Precision medicine requires special equipment which is high in cost and is also costly to install and maintain and this factor alone is anticipated to have a major hindering effect on the Europe precision medicine market growth over the forecast period. Europe precision medicine companies are focusing on finding more affordable solutions to boost the adoption of precision medicine in Europe.
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Global Europe precision medicine Market: Segmentation
- The global Europe precision medicine market is segregated based on technology, application, and region.
By Application, the Europe precision medicine market is segmented into Oncology, CNS, Immunology, Respiratory, and Other Applications. The oncology segment is projected to be the most lucrative in the Europe precision medicine market landscape over the forecast period. Increasing demand for novel treatments for cancer and rising instances of cancer will majorly shape the growth in this segment through 2028.
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List of Key Players of Europe precision medicine Market:
- Allscripts Healthcare LLC
- Astarte Medical
- AstraZeneca PLC
- Bristol-Myers Squibb
- F Hoffmann-La Roche AG
- Kailos Genetics Inc.
- Laboratory Corporation of America Holdings
- Medtronic PLC
- Myriad Genetics Inc.
- Novartis AG
- Pfizer Inc.
- Qiagen NV
- Quest Diagnostics
- Thermo Fisher Scientific Inc.
Key questions answered in this report:
- What are the growth rate forecast and market size for Europe precision medicine Market?
- What are the key driving factors propelling the Europe precision medicine Market forward?
- What are the most important companies in the Europe precision medicine Market Industry?
- What segments does the Europe precision medicine Market cover?
- How can I receive a free copy of the Europe precision medicine Market sample report and company profiles?
Market size value in 2021
USD 14,926.5 Million
Revenue forecast in 2028
USD 27469 Million
CAGR of almost 10.7 % 2022-2028
2016 – 2021
2022 – 2028
By Product Type, By Application, and By End Use
Value (USD Million), and Volume (Units)
Revenue in USD million/billion and CAGR from 2022 to 2028
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
23andMe, Allscripts Healthcare LLC, Astarte Medical, AstraZeneca PLC, Biogen, Bristol-Myers Squibb, F Hoffmann-La Roche AG, Kailos Genetics Inc., Laboratory Corporation of America Holdings, Medtronic PLC, Myriad Genetics Inc., Novartis AG, Pfizer Inc., Qiagen NV, Quest Diagnostics, Thermo Fisher Scientific Inc.
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
- Increasing demand for better treatment and diagnosis.
Europe is anticipated to see high demand for precision medicine owing to rising investments in the healthcare sector to advance healthcare facilities and provide better treatment opportunities. Increasing support from government initiatives to boost the adoption of precision medicine will also majorly influence Europe’s precision medicine market potential through 2028. The United Kingdom holds a major market share in the Europe precision medicine industry landscape and is expected to maintain this stance over the forecast period as well. Increasing research activity and the rising use of genome analysis are other factors that will drive the market potential in the United Kingdom through 2028. France, Germany, Spain, and Italy are also expected to be highly lucrative markets owing to increasing investments in the advancement of healthcare infrastructure. Increasing demand for better treatment and diagnosis will be a major trend prevalent in all countries in Europe.
Global Europe precision medicine Market is segmented as follows:
Europe precision medicine Market: By Technology Outlook (2022-2028)
- Big Data Analytics
- Gene Sequencing
- Drug Discovery
- Companion Diagnostics
- Other Technologies
Europe precision medicine Market: By Application Outlook (2022-2028)
- Other Applications
Europe precision medicine Market: By Region Outlook (2022-2028)
- The UK
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Press Release For Europe precision medicine Market: https://www.zionmarketresearch.com/news/global-europe-precision-medicine-market
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