Market research identifies growing role for precision medicines

Indian market research company Graphical Research has identified several trends which it says will propel growth in the global precision medicine market through to 2027.

In oncology, the group said that the range of applications for precision medicines will continue to grow in North America, as the number of cancer diagnoses is growing at “a notable rate” in the region.

In Europe, the precision medicine market size is predicted to be valued at over $27 billion by 2027, with the current value in oncology indications estimated to be $7 billion.

Aside from rising demand in oncology, there are a number of factors in the USA and elsewhere which will likely support growing use of this therapeutic approach.