Precision medicine software Market

Market Snapshot

Precision medicine software Market- by Delivery mode, End User & Application

Market Synopsys

The market size of the global Precision medicine software market in the year 2021 is valued at 1,178.40 USD Million and is predicted to reach 2288.82 USD Million by the year 2028 at an 11.70% CAGR during the forecast period. Precision medicine is an arising clinical methodology embraced by clinical specialists for the therapy of a patient, followed with clinical choices, medicines, practices, or items being customized to the singular patient. Fitting or ideal treatments might be utilized in light of changeability in the patient's hereditary profile, climate, and way of life for every individual. The analytic testing can be founded on the setting of a person's hereditary profile or other sub-atomic or cell investigation. The development of precision medicine has tended to the desperate requirement for better demonstrative and logical devices which is a key factor driving growth of the target market. Precision medicine programming joins the clinical and atomic information to give significant experiences to decide the best helpful course of treatment. Additionally, it gives a wide scope of uses in both the diagnostics and clinical regions for better comprehension of illnesses like disease, looking for new biomarkers, investigating new treatments, reusing existing medications, and separating patients for clinical preliminaries. These are factors that create new revenue opportunities for key players operating in the target market.

Market Segmentation:

The global Precision medicine software market is bifurcated on the basis of delivery mode, end user, application, and region. Based on delivery mode, the target market is classified into on-premise and cloud-based systems. On the basis of end-user, the global market is classified into healthcare providers, research centers & government institutes, and pharmaceutical & biotechnology companies. With regards to application, the global Precision medicine software market is segregated into oncology, pharmacogenomics, rare diseases, and others. By region, the market is segmented across North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.

Based on delivery mode, on-premise delivery mode is accounted as a major contributor in the Precision medicine software market

Based on delivery mode, the Precision medicine software market is fragmented into on-reason and cloud-based delivery model. In 2021, the on-premise delivery mode fragment represented the biggest portion of the Precision medicine software market. The huge portion of this section is principally because of the wide scope of benefits related with the utilization of on-premise delivery models. These models permit end users to utilize arrangements from various sellers and permit purchasers to choose when to carry out a product overhaul.

Growing emphasis on delivering personalized medicine in hospitals will drive adoption of Precision medicine software by healthcare providers

By end user, the market is sectioned into medical services suppliers, research focuses and government foundations, drug and biotechnology organizations, and opposite end users. The medical care suppliers segment represented the biggest piece of the pie in 2021 and is projected to grow at a rapid rate during the forecast period. The huge portion of this fragment can be ascribed to the developing accessibility of precision medicine programming and a rising accentuation on giving customized medication in clinics. Precision medicine programming is a significant device involved by medical care suppliers for screening pre-birth aneuploidy, assessing uncommon issues, diagnosing irresistible infections, and distinguishing helpful focuses in neoplasms.

Rising prevalence of cancer and increasing funding in cancer research will augment the oncology segment in the Precision medicine software market

In view of application, the Precision medicine software market is sectioned into oncology, pharmacogenomics, intriguing infections, and different applications. The oncology section represented the biggest portion of the overall industry in 2021 and is projected to grow rapidly over the forecast period. The huge portion of this section can be credited to the developing commonness of disease, rising financing in malignant growth research, promising application of precision medicine in oncology research, and expanded ventures by government associations in precision medicine programming.

In the region, the North America Precision medicine software market holds significant revenue share

Geographically, the North American market represented the biggest portion of the precision medicine programming in 2021. The huge portion of the overall industry of North America in the precision medicine programming business sector can be credited to elements, for example, developing HCIT interests in the region, the presence of administrative orders supporting business sector development in the US, and expanding digitalization and positive financing drives by the Canadian government. This will proliferate growth of the target market in the next coming years.

Competitive Landscape

The major companies in the global Precision medicine software market are Syapse, Inc. (US), 2bPrecise LLC (Israel), Fabric Genomics (US), Foundation Medicine, Inc. (US), PierianDx, Inc. (US), SOPHiA GENETICS SA (Switzerland), N-of-One, Inc. (US), Human Longevity, Inc. (US), Translational Software, Inc. (US), Sunquest Information Systems Inc. (US), Gene42, Inc. (Canada), LifeOmic Health, LLC (US), NantHealth, Inc. (US), Tempus Labs, Inc. (US), Flatiron Health, Inc. (US), IBM Watson Group (US), and Koninklijke Philips N.V. (Netherlands) are the central participants in the Precision medicine software market.

Precision medicine software Market is segmented as follows:

Precision medicine software Market is tabulated as follows: