Precision Medicine Market – Big Data Analysis is expected to play a critical role in the growth of precision medicine market


The Global Precision Market was valued at US$ 45,720.8 million in 2016 and is projected to exhibit a CAGR of 9.9% over the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Increase in adoption of personalized medicine, in turn, is projected to support the growth of precision medicine market over the forecast period. Manufacturers are focusing on innovation to tap into emerging markets. For instance, Synapse, Inc. and Strata Oncology, Inc., together, implemented an end to end precision oncology program to improve the outcomes of the treatment with reduced costs, as the companies are selecting the most promising precision medicine clinical trials. Strata Oncology, Inc. also launched Strata NGS test in May 2017, which is designed for 90 gene targeted assay that focuses on genetic alterations in tumor tissue and includes standard care markers and clinical trial eligibility markers. AstraZeneca launched a next-generation asthma drug in 2016 named, Benralizumab for eosinophil biomarker, which is a part of the new way of biological treatments for people with asthma, as AstraZeneca is moving toward precision medicine to resolve the disease. The Food and Drug Administration approved the first gene therapy, Kymriah (tisagenlecleucel) on August 2017, which was developed by Novartis for the treatment of patients below 25 years of age with B-cell precursor acute lymphoblastic leukemia. This therapy represents a shift from chemotherapy to precision medicine.