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Precision Medicine market is projected to grow at a CAGR of 11.0% by 2033: Visiongain

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Visiongain has published a new report: Precision Medicine Market Report 2023-2033: Forecasts by Product (Diagnostics (Genetic Tests, Biomarker Based Tests, Other), Therapeutics)), by Application (Oncology, CNS, Immunology, Respiratory, Others), by Technology (Drug Discovery, Bioinformatics, Big Data Analytics, Gene Sequencing, Companion Diagnostics, Other), by End-users (Hospitals, Diagnostic Centres, Research & Academic Institutes, Other) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.

The precision medicine market is valued at US$78.2 billion in 2023 and is projected to grow at a CAGR of 11.0% during the forecast period 2023-2033.

Accelerating Demand for Targeted Therapy
Due to developments in genetic sequencing and anti-genomics, it is now well known that different people and drugs can interact with one other in different ways. A deeper understanding of a person’s genetic make-up or biomarkers can help advance the practise of giving the correct medication at the right time, in the right amount, to the right patient. Pharmacological, pharmaceutical, and biopharmaceutical firms are continuously working to integrate patient-selection diagnostic frameworks into the earlier phases of drug development in order to deliver targeted therapies to the appropriate candidate and support the expansion of the precision medicine market. One of the main causes of the expanding use of genomes and proteomics technologies as well as precision medicine is the increased understanding of the advantages of tailored medicine. The growing availability of genetic and molecular diagnostic tests plays a crucial role in enabling the earlier detection of diseases and providing personalized treatments; this can potentially result in substantial savings in treatment costs thereby driving precision market growth.

Download Exclusive Sample of Report
https://www.visiongain.com/report/precision-medicine-market-2023/#download_sampe_div

How has COVID-19 had a Significant Positive Impact on the Precision Medicine Market?
There are a growing number of the promising clinical-stage and marketed therapies in the form of monoclonal antibodies that are repurposed from development in other indications. A better understanding of biological susceptibilities will help provide better leads for targeted therapies. Precision medicine approach is adopted to develop forthcoming treatments, which can be analogous to initiatives in oncology. In addition, the use of this approach may prove to be valuable to assess risks of adversarial treatment effects that would occur in patients with certain genetic variants. As a result, COVID has contributed to raising awareness of the value of precision medicine in the treatment of many disorders. Owing to the lower number of patients undergoing diagnostics and treatment for various diseases due to curbs implemented to prevent the spread of COVID-19, there was a slight decrease in the use of precision medicine in 2021-2022. However, the demand has increased from 2022 owing to the financial stabilization and increased awareness regarding the importance of precision medicine to improve patient outcomes.

How will this Report Benefit you?
Visiongain’s 347-page report provides 149 tables, 220 charts /graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the Precision Medicine market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Precision Medicine. Get financial analysis of the overall market and different segments including product, application, technology, end user, and company size and capture higher market share. We believe that there are strong opportunities in this fast-growing Precision Medicine market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.

What are the Current Market Drivers?

Rising Cancer Burden to Spur Industry Growth
In 2040, there will likely be 27.5 million new cases of cancer, according to Cancer Research UK. Two factors that contribute to the increased cancer burden are population growth and ageing. These numbers show how crucial basic and translational cancer research remains. Recent advancements in genomics, proteomics, and other “omics” technology have sped up the creation of tailored medicine. DNA sequencing, for instance, can identify specific cancer mutations in a patient that can be treated with the right medication. Another significant advancement in personalized medicine is the discovery of immunotherapy, which targets cancer cells via the body’s immune system. Additionally, in recent years, technological advancements that give rise to medical oncology have coincided with an increase in our understanding of cancer.

Increase in Adoption of Personalized Medicine Over Traditional Practice
Nowadays, hospitals or centralized laboratories conduct diagnostic disease testing. These diagnostic tests are performed using expensive devices which are usually operated by trained individuals. It is incredibly difficult for medical experts to detect diseases in the early stages because these tests are expensive, time-consuming, and invasive. This is a major problem for healthcare systems all over the world. Nevertheless, these developments have led to the creation of quick, accurate, and disease-specific diagnostic instruments that can be used to replace the conventional method of “one-size-fits-all” medicines and assist in determining a specific therapy for patients, which decreases total healthcare costs and enhances public health.

Get Detailed ToC
https://www.visiongain.com/report/precision-medicine-market-2023/

Where are the Market Opportunities?

Increase in Use of AI in Healthcare to Offer Lucrative Growth Prospects
Biotechnology has advanced significantly during the past ten years. Computers are getting smaller and faster, and datasets’ heterogeneity and volume are expanding significantly. Precision medicine presents a significant opportunity as a result of these advancements, which are fueling the artificial intelligence engine in medical science. AI-based technological advancements are revolutionising the medical sector by making it easier and less error-prone for healthcare professionals to regularly record clinical data and monitor it. A more precise prediction of the medication response and prognosis of this underlying condition will be possible with the help of AI technology and future developments in pattern recognition and image processing. Therefore, it is projected that the fusion of precision medicine with artificial intelligence (AI) would revolutionise the healthcare sector.

Gene Therapy and Gene Editing Techniques to Offer Lucrative Growth Opportunities for Market Players
Technology is advancing with the development of ever-cheaper genome sequencing, rapidly evolving gene editing technologies like CRISPR, new and more advanced sequencing techniques, and portable sequencing devices. As a result of these breakthroughs, the quantity and variety of genomic data will increase dramatically, adding to the body of knowledge and aiding in the creation of more effective gene treatments. Cell and gene treatments are highly specialised and have the ability to meet unmet medical needs related to treating a variety of ailments.

Competitive Landscape
The major players operating in the precision medicine market are Pfizer Inc., Qiagen, Quest Diagnostics Incorporated, Illumina, Inc., Agilent Technologies Inc., Novartis AG, bioMérieux SA, Abbott, F Hoffmann-La F. Hoffmann-La Roche Ltd AG, Lilly, GSK plc, AstraZeneca, Thermo Fisher Scientific Inc., Myriad Genetics Inc., Bristol-Myers Squibb Company, Danaher, Laboratory Corporation of America Holdings, GE HealthCare, Teva Pharmaceutical Industries Ltd., Abnova Corporation, NanoString Technologies, Inc., Bayer AG, Biogen, and Johnson & Johnson Services, Inc. The key competitors in this market have employed a variety of strategies, including mergers and acquisitions, investments in R&D, partnerships, collaborations, regional company expansion, and new product launches.

Recent Developments

  • On 4th April 2023, Pfizer received sNDA from US FDA for BRAFTOVI (encorafenib) + MEKTOVI (binimetinib) for patients with metastatic NSCLC with a BRAF V600E mutation.
  • On 1st March 2023, QIAGEN and SOPHiA GENETICS collaborated to integrate the SOPHiA DDMTM digital analytics platform with its QIAseq reagent technology for NGS.

To access the data contained in this document please email [email protected]
Avoid missing out by staying informed – order our report now.

To find more Visiongain research reports on the Pharma sector, click on the following links:

Do you have any custom requirements we can help you with? Any need for a specific country, geo region, market segment or specific company information? Contact us today, we can discuss your needs and see how we can help: [email protected]

About Visiongain
Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs.

Contact
Visiongain Reports Limited
Telephone: +44 (0) 20 7336 6100
Email: [email protected]
Web: www.visiongain.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

Synthetik Applied Technologies LLC announces development of UrbanScale – a modeling platform for the prediction, characterization, and quantification of extreme urban heat

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AUSTIN, Texas and LONDON, April 30, 2024 /PRNewswire/ — Synthetik Applied Technologies announces the development of UrbanScale, a tool to model and predict effects of extreme heat in urban areas, through a project funded by the National Oceanic and Atmospheric Association (NOAA). The physical characteristics of urban areas amplify heat effects resulting in what are known as urban heat islands — areas where surface temperatures are much higher than their surroundings. The UrbanScale tool addresses this climate peril with sophisticated analytic tools based on physics informed neural networks and cutting-edge machine learning to predict urban heat and help better understand and mitigate the risks associated with these extreme heat events. As a result of climate change, these events are expected to increase, impacting both the people that live in urban areas and the infrastructure on which they depend.

The UrbanScale platform shows significant promise to provide data on the severity of heat islands and their effects to better understand how they impact human health, energy use and damage to physical infrastructure. This information will provide a step-change in capability for government agencies, urban planners, and transportation authorities to direct efforts for mitigation and intervention. In particular, inclusion of demographic information into data pipelines will allow understanding of how urban heat effects may impact vulnerable or disadvantaged populations. Integration with climate forecasts and models will also provide unprecedented capabilities for forecasting risk associated with climate change.
Josh Hatfield, Director of Research and Development at Synthetik, said:
‘We are extremely grateful for the opportunity to study such an important issue. Extreme heat is already the largest cause of weather-related fatalities in the US, and climate change will only increase the importance of understanding heat in urban environments. Helping to meet that challenge fits directly into Synthetik’s mission.’
Synthetik COO Tim Brewer commented:
‘The UrbanScale tool will allow both our government and insurance partners to better characterize the risk of extreme heat in urban centers and promises to deliver critical insight on the way these events impact energy demands. We look forward to exploring its wide-ranging applications.’
Synthetik plans further development of UrbanScale with NOAA and other partners in the public and private sector.
For all inquiries: Contact Synthetik Applied Technologies PR [email protected] 
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Artificial Intelligence

GLiNTECH – a Valiantys company, wins Atlassian Partner of the Year 2023 Services (APAC) award. Valiantys and GLiNTECH declared Finalists for Team Excellence and ITSM Solutions

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PARIS, April 30, 2024 /PRNewswire/ — Atlassian announced today that GLiNTECH – a Valiantys company has won the Atlassian Partner of the Year 2023 Services (APAC) award. Valiantys and GLiNTECH were further declared finalists for the Team Excellence and ITSM Solutions awards, respectively.

 
This is an acknowledgement of their outstanding work for Atlassian customers during the calendar year 2023. This includes exceptional efforts in developing new business and driving innovative solutions for customer success.
“Our industry leading partners play a vital role in our customers’ continued success. We’re honored to highlight our top partners as award finalists this year, reflecting their ongoing commitment to delivering innovative solutions and unparalleled Atlassian services globally,” said Ko Mistry, Atlassian’s Head of Global Channels.
“We are delighted to be named as finalists for these awards from Atlassian, and we are particularly proud to celebrate GLiNTECH’s achievement in winning the Services (APAC) award.” said Emmanuel Benoit, Global Chief Executive Officer, Valiantys. “At Valiantys, embracing diversity of thought and challenging the ways our teams work has always provided Valiantys with a competitive edge to consistently deliver tangible results and value. We look to the future with unwavering determination and confidence as we continue to drive innovation and unlock potential for our customers around the globe.”
“We dedicate our IT Consulting Services and Custom Solutions to fulfilling our customers’ needs for success,” commented Dimitri Spyridopoulos, Chief Executive Officer GLiNTECH – a Valiantys company. “It’s an honor to be recognized by Atlassian as a finalist in two categories that reflect these efforts: Services and ITSM Solutions, and to be declared as winner for the Services award (APAC).”
For more information regarding this Press Release, contact: [email protected]
About Valiantys
Valiantys is a leading global consulting and services firm dedicated to Atlassian. The company accelerates business transformation by digitizing processes and modernizing teamwork, using the best agile methods and tools. Its Atlassian technical expertise is unparalleled and Valiantys supports its customers across the entire spectrum of projects on those platforms. As a recognized Agile at Scale, ITSM, and Cloud Specialized Partner, Valiantys help organizations accelerate time to value with Agile at scale, cloud, and ITSM implementations. Because teamwork requires more than just tools, the firm bridges the gap between applications and strategic practices such as SAFe® and ITIL. Over the last 15 years, Valiantys has helped more than 5,000 customers achieve their desired business outcomes at a reduced time to value, through improved team collaboration. More information about Valiantys can be found at https://www.valiantys.com/
About GLiNTECH – a Valiantys Company
GLiNTECH is a renowned Atlassian Platinum Partner headquartered in Australia and is the preferred choice for over 300 leading brands. The company has amassed more than 20 years of experience servicing enterprise clients across the Asia Pacific region, earning Atlassian Partner of the Year five times, including most recently for Professional Services. GLiNTECH is recognized as a Specialized Atlassian Cloud and ITSM partner. The company offers deep expertise in Licensing, Training, Support, Managed Services, Consulting, and Agile methodologies and has a proven record in providing reliable solutions while driving success within the Atlassian ecosystem. More information about GLiNTECH can be found here: https://www.glintech.com/
GLiNTECH was acquired by Valiantys in February 2024.
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Artificial Intelligence

Nillion is pleased to announce that Dwinity, a team pioneering decentralized AI has joined as an ecosystem partner

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ZUG, Switzerland and MUNICH, April 30, 2024 /PRNewswire/ — With huge amounts of personal data being collected every day, privacy concerns are escalating as the impact of data breaches become more costly. The need to address the problems created by the existing data economy have never been greater. By empowering users to reclaim control, Dwinity aims to unlock an enormous amount of potential for personal data to enhance various industries like healthcare, insurance, and finance.

About Dwinity
Dwinity’s mission is to give power back to users and to create a thriving data economy in which information asymmetry is finally removed. Dwinity enables a decentralized data economy as well as creates a data ownership driven ecosystem for storage, analysis, exchange, and commercialization of sensitive personal data.
The three components of Dwinity are:
Data control: Decentralized data spaces for decentralized data storage which provides true data sovereignty and enables users to decide with whom data is shared.Data Gold: Decentralized AI tools for each data space have the capability to unlock the full potential of data via sophisticated analysis.Data Cash: A fair marketplace with automated data value analysis, allowing for tangible income for data owners at lower costs and completely anonymous.Dwinity is presently closing its initial seed round at USD 3 MN – funds which will be used for the development of the initial prototypes to hit the market already in 2024.
About Nillion
Nillion is humanity’s first Blind Computer. It is powered by a decentralized network of nodes that enables “Blind Computation” through the coordination and orchestration of privacy enhancing technologies (PETs) such as multi-party computation (MPC), fully homomorphic encryption (FHE) and zero-knowledge proofs (ZKP). Nillion believes Blind Computation will become the internet’s base layer for all private data as PETs continue to mature. Nillion has attracted a notable initial cohort of Blind Computation builders across AI, DeFi, medical data, custody, wallets, global identity, messaging and more.
The Nillion development company, Nilogy, was incubated by CoinList’s seed program. Nilogy’s Founding CTO was the Founding Engineer of Uber (Conrad Whelan), the Chief Strategy Officer was the Founding CMO of Hedera Hashgraph (Andrew Masanto), the Chief Business Officer is the Founder of Indiegogo (Slava Rubin), the General Counsel was the Associate General Counsel of Coinbase (Lindsay Danas Cohen), along with builders hailing from Consensys, LayerZero, Polygon and Google.
“This is a major step on our way to building the leading ecosystem for sensitive data together with one of the top players in the market for the handling of such valuable data. We are looking forward to the cooperation which will add significant trust and competence to both initiatives”, said Peter Koenig, CEO of Dwinity.
Picture is available at AP
Contact for this publication: Christian Mangold [email protected]

View original content:https://www.prnewswire.co.uk/news-releases/nillion-is-pleased-to-announce-that-dwinity-a-team-pioneering-decentralized-ai-has-joined-as-an-ecosystem-partner-302131972.html

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