The Precision Diagnostics Market size was valued at USD 67.81 billion in 2022 and is expected to reach at USD 172.75 billion by 2030 and grow at a CAGR of 12.4% over the forecast period of 2023-2030
The Precision Diagnostics Market is a rapidly growing sector in the healthcare industry that focuses on providing accurate and personalized diagnostic tests and tools. With advancements in technology and the increasing demand for targeted therapies, precision diagnostics have become essential in improving patient outcomes and reducing healthcare costs.
One of the key drivers behind the growth of this market is the rising prevalence of chronic diseases such as cancer, cardiovascular diseases, and infectious diseases. Precision diagnostics play a crucial role in early detection, prognosis, and monitoring of these conditions, enabling healthcare professionals to tailor treatment plans based on individual patient characteristics.
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Furthermore, precision diagnostics offer several advantages over traditional diagnostic methods. They provide more precise and reliable results by analyzing specific biomarkers or genetic mutations associated with a particular disease. This enables clinicians to make informed decisions regarding treatment options, including targeted therapies or personalized medicine.
Another significant factor contributing to the expansion of the precision diagnostics market is the increasing adoption of companion diagnostics.
Key Market Segmentation:
By Type
- Genetic Tests
- Esoteric Tests
- Others
By Application
- Oncology
- Cardiovascular
- Immunology
- Others
By End User
- Hospitals
- Clinical Laboratories
- Homecare
Key players
The major Key players are Quest diagnostics, QIAGEN, Swiss Precision Diagnostics, Koninklijke Philips N.V, Lantheus Medical Imaging, Bluebird Bio and other players
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