The report "Precision Medicine Market by Technology (Big Data Analytics, Bioinformatics, Gene Sequencing, Drug Discovery, Companion Diagnostics, Others), by Application (Oncology, CNS, Immunology, Respiratory, Others) and by Region - Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)"says, The Precision Medicine Market is expected to reach USD 69.8 Billion by 2022 from an estimated USD 40.5 Billion in 2017, at a CAGR of 11.5%.
Precision medicine technique is used to treat diseases by taking the lifestyle of the patient, gene variability and also the environment surrounding the patient into account.
Noteworthy progression in precision medicine to treat cancer and other ailments activated by mutations will propel the market growth. Lack of side effects, increasing government initiatives favoring the market and increased funding are some of the key driving factors of the market.