- Precision medicine is a transformative approach to healthcare that tailors medical treatment to individual characteristics such as genetics, environment, and lifestyle, enhancing treatment efficacy and reducing adverse effects. It plays a pivotal role in areas like oncology, cardiology, and rare genetic disorders
- The demand for precision medicine is being driven by the rising prevalence of chronic diseases, the growing availability of genomic data, and technological advancements in diagnostic tools and data analytics
- North America is expected to dominate the global precision medicine market with largest market share of 53.63%, due to strong R&D infrastructure, significant government and private investments, and early adoption of advanced healthcare technologies
- Asia-Pacific is expected to be the fastest growing region in the precision medicine market during the forecast period due to increasing healthcare awareness, supportive government initiatives, and expanding genomic research activities
- Therapeutics segment is expected to dominate the market with a largest market share of approximately 58.7%, due to the increasing prevalence of chronic diseases and the rising demand for personalized treatment options. Advancements in genomics, pharmacogenomics, and biotechnology have enabled the development of targeted therapies that are more effective and have fewer side effects compared to traditional treatments
