Precision Medicine Market to Reach US$ 105.6 Billion by 2026, Globally |CAGR: 9.9%| UnivDatos Market Insights

NOIDA, India, Dec. 1, 2020 /PRNewswire/ — A comprehensive overview of the precision medicine market is recently added by UnivDatos Market Insights to its humongous database. The precision medicine market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. Furthermore, the precision medicine market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the precision medicine market at the global and regional levels. Global Precision Medicine Market is expected to grow at a CAGR of 9.9% from 2021-2026 to reach US$ 105.6 billion by 2026.

Market Overview

Precision medicine is known to be one of the most promising approaches for tackling the diseases that have thus far eluded effective treatments or cures. Several indications such as cancer, neurodegenerative diseases, and rare genetic conditions take an immense toll on individuals, families, and societies. Cancer is amongst the leading cause of mortality worldwide with an estimation of 9.6 million deaths in 2018. The most common cancers include lung (2.09 million cases), breast (2.09 million cases), colorectal (1.80 million cases), prostate (1.28 million cases), non-melanoma skin (1.04 million cases), stomach (1.03 million cases).

The rising demand for preventive care and advances in next-generation sequencing (NGS) technologies have resulted in an unprecedented proliferation and deluge of genomic sequence data, thereby driving the market growth of the precision medicine sector. In the last 15 years, the cost of mapping a human genome has fallen from US$ 100 million to below US$ 1,000, allowing the use of data from patient DNA to become a significant viable method to provide precise, actionable recommendations before symptoms occur. The growth of the industry is also fueled by scientific discovery, alignment of incentives, regulatory decisions, consumer interest and demand, and advances in technology. The growth of the market for precision medicine is also supported by the increasing patient adherence to treatment and rising prevalence of oncology indications.

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Impact of COVID-19:

As the pandemic is spreading rapidly, clinicians treating COVID-19 are in desperate need of effective therapy, as the development of an effective vaccine remains a remote possibility. Given the urgent nature of the pandemic and the number of companies and researchers developing COVID-19 related therapies, there are more than 560 drug development programs in the pipeline with over 370 trials been reviewed by FDA. For instance, Boehringer Ingelheim initiated a Phase II study of BI 764198, a TRPC6 inhibitor to alleviate the damage to the lung and decrease the risk or severity of acute respiratory complications in patients hospitalized for COVID-19.

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Global Precision Medicine Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Technology, the market is primarily bifurcated into

  • Big Data Analytics
  • Bioinformatics
  • Gene Sequencing
  • Drug Discovery
  • Companion
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Cosmetic Dyes Market to Reach $610.1 Mn, Globally, by 2026 at 4.9% CAGR: Allied Market Research

Surge in need for skin care products, increase in demand for natural ingredients in cosmetic products, and growing inclination for natural food ingredients and colorants drive the growth of the global cosmetic dyes market

PORTLAND, Ore., Oct. 20, 2020 /PRNewswire/ — Allied Market Research published a report, titled, Cosmetic Dyes Market by Product Type (Organic Dye and Inorganic Dye), and End User (Facial make up, Nail products, Eye make-up, Lip products, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026.” According to the report, the global cosmetic dyes industry was estimated at $420.3 million in 2018 and is anticipated to hit $610.1 million by 2026, registering a CAGR of 4.9% from 2019 to 2026.

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Drivers, restraints, and opportunities-                                               

Surge in need for skin care products, increase in demand for natural ingredients in cosmetic products, and growing inclination for natural food ingredients and colorants drive the growth of the global cosmetic dyes market. On the other hand, several government regulations and increasing awareness about probable side effects of chemical based cosmetics impede the growth to some extent. Nevertheless, rise in demand for organic cosmetics and change in consumer preference for cost-effective cosmetics products are expected to create new opportunities in the industry.

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  • Covid-19 scenario-

  • The outbreak of the pandemic led to decline in demand for cosmetic products from individuals.

  • Also, disruptions in the supply chain and shortage in raw materials have negatively impacted the market.

  • However, with the existing regulations being eased off gradually in most of the countries, the market is expected to get back to its position soon.

The inorganic dyes segment to dominate by 2026-

Based on product type, the inorganic dyes segment contributed to nearlythree-fifths of the global cosmetic dyes market share in 2019 and is expected to lead the trail by 2026. The fact that inorganic pigments use chemical formulations to get the desired product properties for various applications drives the growth of the segment. The organic dyes segment, on the other hand, would register the fastest CAGR of 6.0% throughout the forecast period. This is attributed to the fact that organic cosmetics dyes are mostly handmade with natural organic ingredients like organic milk, and organic vegetable oils.

The facial make up segment to maintain the dominant share-

Based on application, the facial make up segment accounted for more than one-third of the global cosmetic dyes market revenue in 2019 and is anticipated to rule the roost till 2026. Manufacturers are working on to produce organic dyes for the facial make up products. This factor fuels the segment growth. Simultaneously, the nail products segment would portray the fastest CAGR of 6.3% by the end of 2026. Nail products such as creams and lotions are used to enhance the nails. And, rise in inclination toward enhanced products which give shine and better appearance when applied has driven the segment growth. Also, manufacturers are targeting the demand of customers by providing natural and organic dyes

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