FREMONT, Calif., April 6, 2021 /PRNewswire/ -- BIS Research has recently published nine premium market intelligence research studies under the precision medicine segment. The nine titles published include an in-depth analysis on precision psychiatry, regenerative medicine, genomic data analysis, CRISPR gene-editing, rare disease diagnostics, single-cell multi-omics, and cell and gene therapy.
Besides, this year's World Health Day, which is to be celebrated on April 7, 2021, demands building a fairer and healthier world for all, especially in the light of the recent global COVID-19 pandemic. The study of emerging technologies under precision medicine is a step by BIS Research to understand how these advancements can help its partners in the healthcare industry toward making quality healthcare available for all.
The studies conducted under the precision medicine division of BIS Healthcare highlight that each market intelligence report compiled offers an update on micro segments that are influencing the market, existing products and the advancements, market share analysis of various key players along with their financials, end-user preference data, and detailed global and regional market study analysis, among other things.
Regenerative medicine is challenging the current healthcare practices by targeting the treatments for the root causes of diseases and disorders, thereby transforming it into an incredibly exciting space full of opportunities. As per the market research conducted by BIS Research, the regenerative medicines market was estimated at $21.59 billion in 2019 and is expected to grow at a CAGR of 13.99% during the forecast period 2020-2030. The growth can be attributed to factors, including increasing consolidation among healthcare juggernauts and rising number of clinical trials for regenerative therapies, among others.
The precision psychiatry market is the next big thing under the precision medicine umbrella. The initiatives undertaken in advancing sequencing technologies tools have facilitated an increasing number of psychiatric genomic and proteomic studies to be performed in the field of neurology. As per BIS Research analysis, the global precision psychiatry market is projected to grow at a CAGR of 17.26% during the forecast period 2021-2026. Growth in this market is expected to be driven by the decreasing cost of sequencing, increasing adoption of inorganic growth strategies in the market, and global increase in mental health burden.
The BIS Research study on somatic genetic testing market highlights that the market was estimated at $6.90 billion in 2020 and is projected to reach $16.79 billion by the end of 2030. The growth of the market is influenced by several factors, including ambiguous regulatory and reimbursement policies and lack of trained professionals in the oncology field.
Rare disease diagnostics has grown significantly since the technology was first commercialized with whole genome and exome sequencing, but it is important to quantify that growth and describe future trends. Based on the study by BIS Research, the rare disease diagnostics market was estimated at $28.68 billion in 2019 and is projected to reach $70.69 billion by 2030. However, challenges including expensive sequencing procedures and their applications in medical treatments and high capital requirements hampering the expansion of global reach are in a way hindering the growth of the market.
The development of genome engineering with potential applications proved to reflect a remarkable impact on the future of the healthcare and life science industry. The high efficiency of the CRISPR-Cas9 system has been demonstrated in various studies for genome editing, which resulted in significant investments in the field of genome engineering. The global CRISPR gene editing market was valued at $846.2 million in 2019 and is expected to grow at a CAGR of 26.86% during the forecast period 2020-2030.
The genomic data analysis and interpretation industry is witnessing an upsurge due to the growing number of genomic research initiatives being undertaken by the developing and developed countries coupled with the decreasing cost of sequencing, resulting in the high demand for software solutions for genomic data analysis. According to the market analysis published by BIS Research, the global genomic data analysis and interpretation market is predicted to grow at a CAGR of 10.21% during the forecast period 2020-2030.
BIS Research healthcare experts have found the single-cell multi-omics market to be one of the most rapidly evolving markets, which is predicted to grow at a CAGR of 21.16% during the forecast period 2020-2025. The market is driven by the need for the development of an advanced solution based on single-cell technology for clinical research in various applications such as cancer, rare disease, cell biology, and synthetic biology.
Cell and gene therapy are overlapping fields of biomedical research having similar therapeutic goals, which target DNA or RNA inside or outside the body. Both therapies aim at modifying genetic material for the treatment of a disease. Gene therapy uses genetic material, or DNA, to manipulate a patient's cells for the treatment of an inherited or acquired disease. According to the market study by BIS Research, the global cell and gene therapy market was valued at $2.59 billion in 2020, and it is expected to grow at an impressive CAGR of 33.82% during the forecast period 2021-2027.
Expert analysts at BIS Research have found the manufacturing QC for cell and gene therapy to be one of the most rapidly evolving and dynamic markets. The global market for cell and gene therapy manufacturing QC is predicted to grow at a CAGR of 22.80% over the forecast period 2020-2030. The market is driven by certain factors, which include the increasing prevalence of cancer and chronic diseases, rising number of clinical trials for cell and gene therapy, steady investments and consolidations in the cell and gene therapy market, and favorable regulatory environment.
Companies operating in life sciences and biopharma
Companies operating in digital health
Companies operating in precision medicine
Academic and research institutes
The studies conducted under BIS Healthcare offer strategic recommendations that can help organizations in tracking various products, trends, and technologies that are changing the dynamics of the market. BIS Research also offers bespoke research services to help organizations meet their objectives.
How can market intelligence published under BIS Healthcare add value to an organization's decision-making process?
Aids in product development
Helps in identifying and targeting the right segment for launching new products and services
Offers detailed information on the future perspective of the emerging as well as established players
Offers go-to-market strategies for the different source types
Supports in diversifying the product portfolio based on risk and progression of technology
Offers tailor-made solutions based on the throughput of different consumers
Aids in understanding the technology requirements
Assists in exploring the newer applications
Supports in analyzing the competitors' funding scenario
Supports in understanding the involvement of government health organizations such as the National Institute of Health (NIH)
Aids in understanding the new trends in the industry
About BIS Research:
BIS Research, a premium market intelligence company, offers in-depth insights and consulting to Fortune 500 companies. We are established and known for tracking the growth of deep technologies across key industry verticals and the subsequent challenges and opportunities associated with deep tech across markets, applications, and products.
With more than 500 clients, over 7000 plus primary interviews, and approximately 200 reports published in a year, BIS Research has set an interesting growth trajectory for itself. We provide market estimations, analysis on emerging high-growth applications, technology analysis, highly segmented granular country-level market data, and other important market parameters that come in handy for our clients during strategic decision-making.
We publish a wide gamut of syndicated market studies across industry verticals. In addition, bespoke market studies are another area where BIS Research excels at, along with consulting services.
BIS healthcare vertical offers intelligence in the healthcare technology market for medical devices, digital health, life sciences, robotics and imaging, information technology, MRD testing, and other emerging healthcare technologies, covering the entire industry spectrum. In the past five years, BIS Healthcare has published more than 50 reports under the precision medicine banner. Additionally, BIS Research has been nominating 'Top 25 Voices' in precision medicine on its Insight Monk platform for the past two years successfully.