According to a new report, published by KBV research, The Global Precision Diagnostics Market size is expected to reach $55.3 billion by 2031, rising at a market growth of 18% CAGR during the forecast period.
The Hospitals segment is anticipating a CAGR of 18.2% during (2024 - 2031). Hospitals serve as centralized hubs for comprehensive patient care, offering a wide range of medical services and specialties under one roof. Precision diagnostics play a crucial role in hospitals by supporting accurate disease diagnosis, treatment planning, and patient management across various departments and clinical settings.
The Genetic Tests segment is leading the Global Precision Diagnostics Market by Type in 2023; thereby, achieving a market value of $26.9 billion by 2031. Genetic tests play a pivotal role in personalized medicine by analyzing an individual's genetic makeup. They help identify genetic variants associated with diseases, drug metabolism, and susceptibility to certain conditions. This information enables healthcare providers to tailor treatment plans based on a patient's genetic profile, improving treatment efficacy and minimizing adverse effects.
The CNS Disorders segment is registering a CAGR of 17.6% during (2024 - 2031). Technological advancements in neuroimaging, such as functional MRI (fMRI) and diffusion tensor imaging (DTI), provide detailed insights into brain structure, connectivity, and functional abnormalities associated with CNS disorders.
Full Report: https://www.kbvresearch.com/precision-diagnostics-market/
The North America region dominated the Global Precision Diagnostics Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $22.7 billion by 2031. The Europe region is experiencing a CAGR of 17.6% during (2024 - 2031). Additionally, The Asia Pacific region would exhibit a CAGR of 18.7% during (2024 - 2031).
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