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Precision Medicine Market Size is Projected to Reach $175.6 Billion by 2030, Registering a CAGR of 11.5%; Strategic Market Research

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New York, USA, Nov. 07, 2022 (GLOBE NEWSWIRE) — The global Precision Medicine Market value in 2021 was worth USD 65.22 billion, and by 2030 it will be worth USD 175.6 billion with an 11.5% CAGR. Precision is a field of medicine focusing on the individual variability of genes, environment, and lifestyle to diagnose and prevent diseases. It helps with disease detection, disease susceptibility prediction, strategy customization, progression improvement, and drug prescription that is effective. Additionally, it helps with decision-making related to healthcare, raises the standard of care, and reduces ineffective trial-and-error methods.

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Make a Direct Purchase of the latest Precision Medicine Market Report published in the month of Nov-2022. Click the below link to initiate the purchase: 

https://www.strategicmarketresearch.com/buy-now/precision-medicine-market

Precision Medicine Market Insights: 

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  • On the basis of technology, drug discovery segment held a dominant position with a revenue share of nearly 2.15%.
  • Oncology segment was the biggest market contributor, with a revenue share of nearly 40% in 2020 on the basis of application.
  • In terms of end-user, the biotechnology and pharmaceutical companies segment led the market with a share of about 33% in 2020.
  • Geographically, in 2021 North America held a significant position with a market share of nearly 40%

Factors accelerating the Precision Medicine Market growth

The growing profile of precision medicine and the increased use of A.I. in healthcare are influencing market expansion.

  • The market has changed significantly over the past ten years. The industry has witnessed an increase in businesses and public and private research institutes. Scientists’ continual and uncompromising efforts to analyze the human genome and find genomic biomarkers have been successful. In addition, government programs have also significantly contributed to the growth of the market.
  • Biotechnology has advanced tremendously in the last decade. Computers have become faster and smaller in size, while datasets are becoming more diverse and larger in volume. These advancements are fuelling the engine of artificial intelligence in medical science, creating tremendous opportunities in precision medicine. A.I. advancements are changing the medical industry by supporting medical practitioners in recording clinical data and monitoring it regularly with greater accuracy and fewer errors.

Precision Medicine Market: A thorough Segmentation Analysis

The precision medicine market segmentation is done on the basis of technology, end-user, application, sequencing technology, product, route of administration, drugs, and region.

By Technology

  • Drug Discovery
  • Bioinformatics
  • Big Data Analytics
  • Gene Sequencing
  • Companion Diagnostics
  • Other Technologies

By Application

  • CNS
  • Respiratory
  • Immunology
  • Oncology
  • Other Applications

By End-User

  • Research Centers and Academic Institutes
  • Pharmaceutical and Biotechnology Companies
  • Healthcare Providers
  • Other End Users

By Sequencing Technology

  • Chain Termination Sequencing
  • Nanopore Sequencing
  • Sequencing by Ligation
  • Pyrosequencing
  • Ion Semiconductor Sequencing
  • Single Molecule Real Time Sequencing
  • Sequencing by Synthesis

By Product

  • Instruments
  • Services
  • Consumables

By Route of Administration

  • Injectable
  • Oral

By Drugs

  • Mepolizumab
  • Osimertinib
  • Aripiprazole Lauroxil
  • Alectinib
  • Others

By Region

North America

  • Mexico
  • Canada
  • United States
  • Rest of North America

Europe

  • United Kingdom
  • France
  • Spain
  • Germany
  • Italy
  • Rest of Europe

Asia Pacific

  • Japan
  • India
  • China
  • Australia
  • South Korea
  • Rest of Asia Pacific

LAMEA

  • Argentina
  • Brazil
  • Saudi Arabia
  • Uruguay
  • UAE
  • Rest of LAMEA

To get a first-hand overview of the report, Request a Sample at
https://www.strategicmarketresearch.com/request-sample/precision-medicine-market

On the basis of technology, drug discovery segment held a dominant position with a revenue share of nearly 2.15%. The segment is growing due to factors like a rise in initiatives for research and development from private and public organizations to build novel drugs, developments in pharmacogenomics, and a rising demand for the creation of precision medicine.

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Oncology segment was the biggest market contributor, with a revenue share of nearly 40% in 2020 on the basis of application. Based on the size of the cancerous tumor cell, precision medicine aids in the treatment of various cancers through chemotherapy, surgery, radiation therapy, and immunotherapy. With the help of precision medicine, alternative therapies can be chosen by knowing an individual’s tumor’s genetic changes. Mepolizumab is a treatment for breast and lung cancer that works well, contributing to the market’s expansion.

In terms of end-user, the biotechnology and pharmaceutical companies segment led the market with a share of about 33% in 2020. The segment’s overall growth is fuelled by factors like the use of cutting-edge technologies and the emergence of significant market participants involved in numerous investment initiatives.

Geographically, in 2020 North America held a significant position with a market share of nearly 40%. The rising incidence of cancer and the emergence of major market players in the area are the main drivers of market expansion in the region. Furthermore, government initiatives and rapidly increasing investment in the creation of cutting-edge treatments for efficient disease management are boosting the demand for precision medicine in the region.

Precision Medicine Market Report Coverage

Report Attribute Details         
Forecast Period 2021 – 2030
The market size value in 2021 USD 65.22 Billion
The revenue forecast in 2030 USD 174.6 Billion  
Growth rate 11.5 percent
The base year for estimation 2020
Historical data 2017 – 2020
Unit USD Billion, CAGR (2021 – 2030)
Segmentation Technology, Application, End User, Sequencing Technology, Product, Route of Administration, Drugs, Region.
By Technology Bioinformatics, Big Data Analytics, Drug Discovery, Gene Sequencing, Companion Diagnostics
By Application Respiratory, Oncology, Immunology, CNS
By End-User Healthcare Providers, Research Centers and Academic Institutes, Pharmaceutical and Biotechnology Companies
By Region North America, Europe, Asia Pacific and LAMEA
Country Scope U.S., Canada, France, Germany, U.K., China, Japan, India, South Korea, Mexico, Brazil, U.A.E. etc.
Company Usability Profiles Syapse, Inc., Foundation Medicine, 2bPrecise LLC, SOPHiA GENETICS SA, Fabric Genomics PierianDx, Inc., Human Longevity, Koninklijke Philips N.V. N-of-One, Translational Software, Inc., Sunquest Information Systems Inc., Gene42, Inc., LifeOmic Health, Tempus Labs, Inc., Flatiron Health, Inc., LLC, NantHealth, Inc., IBM Watson Group, etc,  Abbott, AB-Biotics SA, GE Healthcare, LABORATORY CORPORATION OF AMERICA HOLDINGS, Biocrates Life Sciences, ABBOTT LABORATORIES, Glaxosmithkline Plc (GSK), Genelex, Johnson & Johnson, HealthCore, Inc., Dako A/S, Koninklijke Philips N.V.

Before initiating a purchase, make a Pre-order enquiry and get a detailed overview of the content of the report.
https://www.strategicmarketresearch.com/pre-order-enquiry/precision-medicine-market

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Key players in Precision Medicine Market:

  • Translational Software, Inc.
  • N-of-One, Inc.
  • Human Longevity, Inc.
  • Gene42, Inc.
  • Johnson & Johnson
  • HealthCore, Inc.
  • Dako A/S
  • LifeOmic Health
  • Foundation Medicine, Inc.
  • Fabric Genomics
  • SOPHiA GENETICS SA
  • PierianDx, Inc.
  • Syapse, Inc.
  • 2bPrecise LLC
  • LABORATORY CORPORATION OF AMERICA HOLDINGS
  • Biocrates Life Sciences
  • Flatiron Health, Inc.
  • Koninklijke Philips N.V.
  • Abbott
  • AB-Biotics SA
  • Glaxosmithkline Plc (GSK)
  • Sunquest Information
  • LLC
  • NantHealth, Inc.
  • Tempus Labs, Inc.
  • IBM Watson Group
  • G.E. Healthcare
  • ABBOTT LABORATORIES
  • Genelex

To read the summary of the report, visit the website at
https://www.strategicmarketresearch.com/market-report/precision-medicine-market

Recent Development 

  • G.E. Healthcare launched the new Omni Legendi at the European Association of Nuclear Medicine Annual Meeting, the first system on its brand-new, all-digital PET/CT platform.
  • To enhance healthcare workflows all over the world, SOPHiA GENETICS and Microsoft have entered a multi-year inclusive strategic partnership. This investment will establish the foundation for multimodal data curation, advancement, and deployment in the next era of healthcare. The SOPHiA DDM Platform powered by Microsoft Azure will improve patient care by delivering cutting-edge results for precision medicine.
  • OraSure Technologies, Inc., a leader in point-of-care, at-home, and sample collection technologies announced that its ORAcollect Dx saliva collection device has been approved for OTC (direct-to-consumer) use by the U.S. FDA.

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GITEX GLOBAL and Expand North Star set to accelerate world’s AI economy with market projected to reach $2.7 trillion by 2032

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•  Event billed as a catalyst for redefining the world’s digital economy and AI ecosystem under this year’s ‘Global Collaboration to Forge a Future AI Economy’ theme
DUBAI, UAE, Oct. 12, 2024 /PRNewswire/ — GITEX GLOBAL, the world’s largest tech and startup event, takes centre stage in the UAE next week with this year’s 44th edition destined to redefine the world’s digital economy and AI ecosystem.

Held at Dubai World Trade Centre (DWTC) from 14-18 October, the incomparable international showpiece will be more influential than ever this time around – presenting an expanded events programme that transforms the UAE into an AI universe epicentre.
Under the theme “Global Collaboration to Forge a Future AI Economy”, GITEX GLOBAL 2024 welcomes the world’s largest technology enterprises alongside governments, investors, experts, startups, academia, and researchers.  
Expand North Star, the world’s largest startup and investment show, runs concurrently at Dubai Harbour from 13-16 October – hosted by Dubai Chamber of Digital Economy and organised by DWTC.
With over 6,500 exhibiting companies, 1,800 startups, and 1,200 investors from more than 180 countries participating across 38 halls of innovation and business opportunities, these blockbuster events will see the UAE “strategically propel the next generation of AI-driven technologies”.
Trixie LohMirmand, Executive Vice President of DWTC, the organiser of GITEX GLOBAL and Expand North Star, said: “At GITEX GLOBAL in Dubai, we shall close the year with significant manoeuvres from our tech community by doubling down on global collaborations and intensive engagements amongst all involved. Through these efforts, we shall forge competitive advantages in the race towards regional and international digital supremacy.
“With international participation in GITEX GLOBAL 2024 rocketing by almost 40 per cent, it’s a barometer of the unstoppable ambitions of many young rising digital nations who are now confidently forging their ways into the future global AI economy through GITEX. As the world’s most global tech event brand with events in Germany, Singapore, Morocco, and Nigeria alongside Expand North Star, we are committed to strategically propelling the next generation of AI-driven technologies via startups, scale-ups and unicorns.”
A global agenda for tomorrow’s AI economy
According to Fortune Business Insights, the global AI market is projected to reach $621 billion in 2024 and soar to $2.7 trillion by 2032. Given its influence and impact now and in the future, the technology takes centre stage at GITEX GLOBAL 2024 with over 3,500 enterprises presenting the latest breakthrough innovations in AI, IoT, data, and the cloud.
Amongst them is TECOM Group PJSC, which celebrates its 25th successive year at GITEX GLOBAL next week. Ahead of the event, Ammar Al Malik, Executive Vice President of Commercial at TECOM Group PJSC and Managing Director of Dubai Internet City, said: “Dubai’s pro-innovation frameworks are the bedrock of tech advancements that serve a greater purpose. GITEX GLOBAL is a springboard to unlock this potential, and as the region’s leading tech hub, Dubai Internet City has been a proud partner for decades in its mission towards a brighter future. Our community is pleased to connect innovators from more than 3,500 companies across fields like artificial intelligence (AI), Web3, digital transformation, and beyond to realise this vision.”
Abu Dhabi’s most influential companies and organisations, including the Advanced Technology Research Council (ATRC) and G42 Group with its leading enterprises Presight and Khazna, will reinforce the Emirate’s position as an emerging global AI nexus. Other tech giants participating are Adobe, Alibaba Cloud, AWS, Builder Ai, Dell, Google, Honeywell, Huawei, IBM, Lenovo, Microsoft, Nvidia, Oracle, Salesforce, SAS, solutions by STC, and Tech Destination Pakistan.
Presenting the year’s largest AI event, GITEX GLOBAL will deliver 120-plus hours of AI and deep tech-focused content across various topics, facilitating discussions on the implications of AI in Future Health, Digital Finance, and EdTech. Following the wildfire pace of AI adoption and the unprecedented growth in data storage demand, the event is also launching the region’s largest Data Centre Symposium in 2024, featuring the industry leaders Datalec, Kerno, Khazna, Legrand, NTT Data, Schneider Electric, Vertiv, among many others.
The programme will build anticipation ahead of the all-new AI Everything Global 2025. This event – taking place in Abu Dhabi (4 February) and Dubai (5-6 February) will gather some of the world’s most visionary AI tech companies to construct an innovative, fair, and responsible AI industry of the future.
Fast-tracking the next generation of startups
The world’s largest startup and investment event, Expand North Star will foster the next frontier of tech and innovation. In another record-breaking edition, the event will connect the most innovative global founders with new markets, enterprise customers, and an influential pool of investors and venture capitalists with over $1.2 trillion in Assets Under Management (AUM). These include SOSV, Bessemer Ventures, Lightrock, Sinovation Ventures, and the European Innovation Fund.
Additionally, Expand North Star will seek to redefine the future of money, blockchain, and creativity through leading co-located events GITEX Impact, Fintech Surge, Future Blockchain Summit, and Marketing Mania. Accelerating the next generation of scaleups, the world’s largest start-up pitch competition, Supernova Challenge 2.0, also graces GITEX GLOBAL with the winners claiming a share of the $200,000 prize pool.
Historic international involvement
GITEX GLOBAL 2024 will welcome the highest international attendance in its history, welcoming over 400 government and digital development agencies from around the world. Alongside GITEX GLOBAL regulars, the new nations debuting this year will showcase their latest groundbreaking tech innovations.
Next week marks the largest European participation at GITEX GLOBAL with over 35 European countries exhibiting alongside 1,000-plus SMEs and 450-plus startups from debuting countries, including Austria, Bosnia and Herzegovina, Ireland, Latvia, Lithuania, Portugal, Serbia, and Slovenia.
Many rising digital nations from Latin America are also behind the record-breaking international involvement, as are those from Central and Southeast Asia. Joining long-time GITEX GLOBAL participants such as China, Japan, South Korea, and India are several debutants – Singapore, Malaysia, Kazakhstan, and Kyrgyzstan amongst them.
While promoting international business development, entrepreneurship, and investment engagements to benefit enterprises, organisations, and SMEs alike, GITEX GLOBAL welcomes the European Innovation Council for the first time, Europe’s biggest deep-tech investor.
It will also see significant collaborations with global organisations from all continents, such as the European Innovation Council, Tech Destination Pakistan, IE University, University College London (UCL), Johns Hopkins University, the Massachusetts Institute of Technology (MIT), and key corporate ventures from leading tech enterprises such as Sony, Honda, Standard Chartered, QIC, and many more.
An action-packed agenda
Throughout its six-day duration, GITEX GLOBAL will become a microcosm of the world, launching industry-defining programmes such as GITEX Editions, an exclusive platform for late-stage advanced tech companies and a premier hub for unicorns, soonicorns and rhinos. In 2024, the event will connect 59 top global unicorns, such as Axelera, DeepL, Insilico Medicine, and Synthesis AI.
The World Future Economy Digital Leaders Summit is another must-attend show with global innovators and influential leaders set to address critical priorities shaping the future of technology. Additionally, GITEX Cyber Valley is this year’s most anticipated cybersecurity showcase – hosted by the UAE Cyber Security Council. With specialists forecasting that damage costs could reach $10.5 trillion annually by 2025, the show will present a power-packed conference agenda as the world’s most influential CISOs, CIOs, and GRC leaders to discuss the risks of global cybercrime.  
Leo Chen, Corporate Senior Vice President & President of Enterprise Sales at Huawei, which will be present with a flagship stand at the event, commented on the possibilities unlocked at the event for the industry: “GITEX GLOBAL offers a unique platform for us to engage in meaningful dialogues with industry peers about the trends and perspectives on industrial intelligence. We look forward to sharing our insights and learning from others to explore the endless possibilities of industrial digital and intelligent transformation.”
For more information on GITEX GLOBAL 2024 and to secure your passes, please visit www.gitex.com.
Follow GITEX Global on social media: Facebook  |Instagram  |X  |LinkedIn  |Youtube
Hashtag: #GITEXGLOBAL
About GITEX GLOBAL
GITEX GLOBAL, the world’s largest tech event, is returning for its 44th edition at Dubai World Trade Centre from 14-18 October 2024. The 2024 edition will feature 6,500 exhibitors, and welcome 200,000 tech executives from 180 countries, converging the best minds, future-focused government leaders, and the most visionary enterprises and start-ups to scrutinise, challenge, define, and empower the digital agendas of the world. Independently rated globally as the world’s best tech show, GITEX GLOBAL’s continued expansion is amplified by the launch of GITEX EUROPE Berlin, GITEX ASIA Singapore, and GITEX NIGERIA in 2025, as well as the growth of GITEX AFRICA Morocco leading up to its third record-breaking edition. More information: www.gitex.com
About Dubai World Trade Centre
A global business facilitator since 1979, Dubai World Trade Centre (DWTC) is home to the region’s leading purpose-built convention and exhibition centre. DWTC provides a platform for connecting people, products, innovation and ideas from around the world through a dynamic calendar of international trade exhibitions and its own roster of sector leading mega events. As a designated free zone, complemented by award-winning commercial real estate, DWTC plays an integral role in Dubai and the region’s growth story. Since its inauguration, DWTC has hosted over 6,000 events, with an estimated economic output of AED 248 billion, attracting over 38 million business visitors to Dubai.
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Huawei Showcases Intelligent Technologies at InnoTrans 2024

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BERLIN, Oct. 12, 2024 /PRNewswire/ — The 14th InnoTrans took place in Berlin, Germany from September 24 to 27. The theme of the event is “The future of mobility”. At this trade fair, with a focus on digital and intelligent transformation trends in rail transportation, Huawei showcased innovative applications of FRMCS(Future Railway Mobile Communication System), AI, cloud computing, IoT, and other cutting-edge technologies in the rail industry.

Railway, as a complex and huge system that always puts safety first, needs a unified digital and intelligent foundation alongside an industry ecosystem that consists of partners specializing in diverse domains to go digital and intelligent.
Jacky Wang, Vice President of Smart Transportation BU, Huawei, said that the global rail transportation industry is striding toward an era of broadband, cloud, and intelligence. “Aligning with this trend, Huawei has launched a One Cloud, One Network, Multi-Hub Solution to help the railway industry address challenges in network bandwidth, information system integration, and digital and intelligent transformation.”
Leveraging large models, AI, big data, and intelligent algorithms, this solution promotes intelligent upgrades across a wide range of professional domains, including train operation, locomotive, rolling stock. The goal is to help customers build safe, efficient, and green integrated transportation hubs, improving overall railway transportation quality and efficiency.
Jacky Wang emphasized that the reliable FRMCS features high bandwidth, wide coverage, and low latency, and is crucial for implementing broadband across rail transportation. He went on to explain that migrating services to the cloud is becoming increasingly popular as it allows for centralized use of IT resources and unified O&M, which can reduce investment costs.
“Big data and AI technologies tailored to specific scenarios will enhance the value of data, bolster service security, and increase efficiency in production management,” said Jacky Wang.
Currently, the solution has been deployed in various service scenarios like intelligent freight train inspection, intelligent scheduling in EMU depots, and smart railway perimeter detection, resulting in substantial benefits. Huawei’s scenario-specific solutions and partners are going global, too. They are continuously addressing the challenges faced by railway customers and generating value for the industry.
Up to now, Huawei has served more than 300 urban rail lines across 70 cities and more than 180,000 km of railways worldwide.

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Nomination Committee for the ASSA ABLOY 2025 Annual General Meeting

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STOCKHOLM, Oct. 11, 2024 /PRNewswire/ — The following representatives of ASSA ABLOY AB’s shareholders will be members of the Nomination Committee for the 2025 Annual General Meeting:

– Johan Menckel, Investment AB Latour, Chairman of the Nomination Committee
– Mikael Ekdahl, Melker Schörling AB
– Marianne Nilsson, Swedbank Robur Fonder
– Yvonne Sörberg, Handelsbanken Fonder
– Carina Silberg, Alecta
The Chairman of the Board, Johan Hjertonsson, has been co-opted to the Nomination Committee.
The Nomination Committee shall prepare proposals for the Annual General Meeting in 2025 regarding the election of Chairman of the General Meeting, members of the Board of Directors, Chairman of the Board, Vice Chairman of the Board, auditor, fees for the members of the Board including division between the Chairman, the Vice Chairman and the other Board members as well as fees for committee work, fees to the company’s auditor and, if necessary, changes to the instructions for the Nomination Committee.
The Annual General Meeting will be held on 23 April 2025, in Stockholm, Sweden.
Shareholders who wish to submit proposals to the Nomination Committee should send an email to [email protected].
For more information, please contact:Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72 Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68
About ASSA ABLOY
The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 61,000 employees and sales of SEK 141 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY’s innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world. 
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/assa-abloy/r/nomination-committee-for-the-assa-abloy-2025-annual-general-meeting,c4050379
The following files are available for download:
https://mb.cision.com/Main/7333/4050379/3050532.pdf
Press release (PDF)
 

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