(EMAILWIRE.COM, January 09, 2018 ) Precision medicine is one of the greatest opportunities for new medical breakthroughs. It is a combination of molecular biology techniques and systems biology. Oncology is the initial area of focus for precision medicine, as cancer is one of the leading causes of death worldwide, and its incidence is increasing as the population ages.

The market for Precision Medicine is mainly driven due to demand for customized medical solutions, growth in healthcare technologies, and favorable government norms. Also, technological advancements like next generation sequencing are driving the market demand and growth in this region. But, the market growth can be hampered due to insurance companies using the information patients’ genetic data.

Latin America market for Precision Medicine is segmented based on Technology and Application. By Technology, the market is further sub-segmented into Big Data Analytics, Bioinformatics, Gene Sequencing, Drug Discovery, Companion Diagnostics and Others. By Application, the market is further sub-segmented into Oncology, CNS, Immunology, Respiratory and Others. By Application, oncology segment holds the largest market share, followed by the CNS and immunology segments. By Technology, drug discovery market holds the largest share, followed by gene sequencing and companion diagnostics. Big data analytics is expected to grow at the highest CAGR.

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Geographically, Latin America market for Precision Medicine is segmented into Brazil, Argentina and Mexico. The market in Latin America is escalating with a high CAGR due to higher acceptance rate and patient affordability. Also, a large number of investments in diagnostic research are being done in this region, which is creating a wide range of opportunities for market growth.

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Pfizer, Roche, Covance, Novartis, Qiagen, Biocrates Life Sciences, Teva Pharmaceutical, Nanostring Technologies, Laboratory Corporation of America Holdings, Tepnel Pharma Services, Intomics, Ferrer InCode, Silicon Biosystems, Eagle Genomics, Medtronic, and Quest Diagnostics, are the major players of Latin America Precision Medicine market.

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