According to Fact MR’s recent market research, sales of Predictive Diagnostics to swell at propelled CAGR through 2031, as investment towards expansion of healthcare infrastructure continues rising. The goal of the survey is uncover growth opportunities, key trends, growth drivers, and challenges. It also provides recommendations to assist businesses in preparing for unforeseen challenges.
Focus on improving overall patient care will remain a chief growth driver. Besides this, Predictive Diagnostics market will continue gaining from increasing willingness among patients and families to spend on advanced healthcare.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Predictive Diagnostics market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Predictive Diagnostics
The report offers actionable and valuable market insights of Predictive Diagnostics. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Predictive Diagnostics Market across various industries and regions
The healthcare industry is constantly under the pressure of improving patient care while keeping the costs under a certain limit. Predictive diagnostics is one way for healthcare organizations to achieve success at enhanced outcomes at much lower costs.
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Key Players
Key players in the global predictive diagnostics market are Abbott Laboratories, Therawis, F.Hoffmann-La Roche Ltd., BIOMÉRIEUX SA, Agilent Technologies, Illumina, Inc., Thermo Fisher Scientific, Inc., Bio-Rad, Myriad Genetics, Inc., Genesis Genetics, Centogene N.V., BGI, 23andMe, Inc., Predictive Oncology, Counsyl, Inc., Bio-Rad Laboratories Inc., Mylab Discovery Solutions Pvt. Ltd., and ARUP Laboratories.
In September 2021, Janssen – a pharmaceutical subsidiary of Johnson & Johnson – announced that it has introduced its nine-month startup accelerator – a program for the digital health startup space to gain innovative ideas on predictive diagnostics to discover precision treatment and therapies.
With this step, the company aims to introduce digital tools to facilitate clinical trials in different disease areas, ultimately to discover treatments at much lower costs.
Through this program, the company will provide selected startups from the Europe, Middle East and Africa (EMEA) region with nine months of support as well as mentorship with members iPEPS – a French brain health incubator – and Janssen.
In October 2021, bioMérieux – a French multinational biotechnology company and a world leader in the area of in-vitro diagnostics – announced that it has launched predictive Diagnostics, which is the company’s new offering in the field of food safety and food quality.
The company’s Predictive Diagnostics offering combines traditional solutions vis-a-vis core microbiology with advanced technologies such as predictive modeling, data sequencing, and data science, declared the global R&D director – Food at bioMérieux.
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Key Takeaways
- Growing adoption of advanced technologies in the healthcare industry indicates the potential for growth in the predictive diagnostics market. By 2031, the global market for predictive diagnostics is expected to surpass the valuation of US$ 3 billion, creating new opportunities for diagnostic tools with high accuracy and precision in the coming decade.
- The predictive diagnostics market is expected to grow at a CAGR of around 10% between 2021 and 2031. Manufacturers are expected to innovate around the adoption of technologies to predict the risks of various diseases such as cancer, neurological disorders, etc.
- Based on test types, the adoption of predictive diagnostics based on polymerase chain reaction (PCR) tests is expected to remain high, which manufacturers are slowly moving towards next-generation sequencing (NGS) platforms by integrating advanced technologies in their tools.
- With the growing demand for predictive diagnostic tools for identifying the risks of various types of cancer, manufacturers in the predictive diagnostics market are upscaling the production and research & development effort to discover accurate predictive tests for cancer.
- The demand for predictive diagnostics is expected to remain significantly high in developed regions, especially in North America. Growing presence of market leaders and increasing healthcare spending in the United States makes the region a profitable market for manufacturers and other stakeholders.
“Personalized treatments and precision medicines are among the top, fast-growing trends in the healthcare industry, and these are the salient factors that are contributing to the growth of the predictive diagnostics market. Doctors, physicians, pathologists among all the other healthcare service providers are making a move towards diagnostic tools that can offer maximum reliability to incur positive medical outcomes at a lower cost. This fortifies the role of technology and innovation in the predictive diagnostics market. In the coming years, Manufacturers in the predictive diagnostics market must benefit from this trend by increasing awareness in the healthcare domains of developing economies,” says a lead analyst at Fact.MR.
Predictive Diagnostics for Breast and Ovarian Cancer – A Key Trend
The incidence of genetically transferred cancer types such as breast cancer and ovarian cancer has increased dramatically in the past few years. According to the World Cancer Research Fund, over 2 million new cases of breast cancer and more than 300,000 new cases of ovarian cancer were recorded across the world in 2018.
Also, cancer is one of the leading causes of death, which makes it important for healthcare providers to use high-tech predictive diagnostics to identify risks of cancer in individuals. This is one of the key factors that are likely to trigger this trend in the predictive diagnostics market.
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Report Benefits & Key Questions Answered
- Predictive Diagnostics Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
- Predictive Diagnostics Historical volume analysis: The report provides a comparison of Predictive Diagnostics’s historical sales and projected sales performance for 2021-2031.
- Predictive Diagnostics Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Predictive Diagnostics market. It carefully gauges the impact of changing healthcare needs of key demographics globally
- Predictive Diagnostics Consumption by demographics: The report investigates consumer behavior affecting Predictive Diagnostics demand outlook for the assessment period. Effect of their keenness for digital trends on Predictive Diagnostics market is carefully analyzed
- Post COVID consumer spending on Predictive Diagnostics: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Predictive Diagnostics market growth.
More Valuable Insights on Predictive Diagnostics Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Predictive Diagnostics, Sales and Demand of Predictive Diagnostics, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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