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Meridian Market Consultants (MMC) has published a new report titled, “2020-2025 Global and Regional Precision Medicine Industry Production, Sales and Consumption Status and Prospects Professional Market Research Report (Enhanced Version)” . According to the report, the Global Precision Medicine Market is expected to grow at a significant CAGR for the period between 2020 and 2025. In 2019, the global precision medicine market is accounted for more than US$ 58.0 Bn and expected to grow at a significant CAGR of 9.9% during the forecast period and expected to reach to the value of more than US$ XX Bn in 2025.
As per the report, the rising count of cancer patients across the globe is majorly contributing to the growth of the global novel drug delivery systems market. The novel drug delivery system (NDDS) offers a remedial quantity of drugs to the particular spot in the human body to achieve quickly and then manage the required concentration of drug.
In addition, with the knowledge of the working of patients’ clinical and molecular profiles, the doctors and medical practitioners are able to detect more precisely which treatment and prevention strategies for a specific disease will work in which groups of people, thus stimulating the demand for precision medicine, hence expected to propel the growth of the global precision medicine market.
Moreover, the substantial progress with some of the crucial discoveries such as biochips/microarrays and single nucleotide polymorphism in the field of precision medicine is also giving a positive push to the growth of the global precision medicine market.
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