Dublin, Nov. 23, 2022 (GLOBE NEWSWIRE) -- The "Oncology Precision Medicine Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 By Ecosystem, By Application and By Region" report has been added to ResearchAndMarkets.com's offering.
The global oncology precision medicine market is expected to grow at an impressive CAGR in the forecast period, 2023-2027. Precision medicine represent the medical approach for the prevention of disease and diagnosis which is based on genetic, environmental, and behavioural variability. It helps in illnesses susceptibility prediction, diseases diagnosis, and progression, as well as medicine prescription. It assists in taking healthcare related decisions, improving quality care, and declining inefficiencies due to the trial-and-error is also augmenting the market growth.
Precision medicine is widely utilized to diagnose chromosomal abnormalities in the foetus and cancer and works as therapy for chronic diseases. The escalating demand of oncology precision medicine methods owing to the growing prevalence of cancer and the expanding number of treatment candidates in clinical trials are fueling the growth of the market.
Increasing Risk of Chronic Diseases in Geriatric Population Drives the Market Growth
Most cancer diagnoses occur in adults over the age of 65 years which demands the accurate treatment plan for this age group. Several oncologists use recommended and available geriatric assessments to help in evaluating older patients and guide their cancer treatment planning. The concept of precision medicine extends beyond tumour-specific markers to incorporate host factors that are assessed as part of a routine geriatric assessment. Assessing the health status of older adults is as important and essential to optimizing treatment as assessing tumour biology and should be included alongside other precision medicine initiatives.
Rise in Use of Targeted Gene Therapy is Expected to Propel the Market Growth
Gene therapy considered as one of the most lucrative markets for precision medicine organizations. Genome sequencing is an unavoidable stage of gene therapy, the extensive investments that are being made in this field drives the growth of the precision medicine market. The increase in number of cancers is escalating the demand for gene therapy as an effective personalized treatment choice across the globe.
The significant growth in the number of patients necessitates gene therapy as a potential treatment approach addressing the increasing global burden of the disease. With this, the expanding adoption of emerging genomic technologies, including NGS and high-density microarray, along with the several government initiatives is propelling the market growth.
Report Scope:
In this report, global oncology precision medicine market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Oncology Precision Medicine Market, By Ecosystem:
- Precision Diagnostics
- Precision Therapeutics
- Applied Sciences
- Digital Health
- Information Technology
Oncology Precision Medicine Market, By Precision Diagnostics:
- Molecular Diagnostics
- Medical Imaging
Oncology Precision Medicine Market, By Precision Therapeutics:
- Clinical Trials
- Cell Therapy
- Drug Discovery & Research
- Gene Therapy
Oncology Precision Medicine Market, By Applied Sciences:
- Genomics
- Pharmacogenomics
- Others
Oncology Precision Medicine Digital Health, and Information Technology:
- Clinical Decision Support Systems (CDSS)
- Big Data Analytics
- Genomics Informatics
- In-Silico Informatics
- Others
Oncology Precision Medicine Market, By Application:
- Solid Tumor
- Hematological Malignancies
Oncology Precision Medicine Market, By Solid Tumor:
- Breast Cancer
- Lung Cancer
- Colorectal Cancer
- Prostate Cancer
- Others
Oncology Precision Medicine Market, By Hematological Malignancies:
- Hodgkin Lymphoma
- Non-Hodgkin Lymphoma
- Leukemia
- Others
Oncology Precision Medicine Market, By Region:
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Singapore
- Malaysia
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Poland
- Denmark
- South America
- Brazil
- Argentina
- Colombia
- Peru
- Chile
- Middle East & Africa
- Saudi Arabia
- South Africa
- UAE
- Iraq
- Turkey
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Global Oncology Precision Medicine Market
5. Voice of Customer
6. Clinical Trial Analysis
7. Patent Analysis
8. Global Oncology Precision Medicine Market Outlook
9. North America Oncology Precision Medicine Market Outlook
10. Europe Oncology Precision Medicine Market Outlook
11. Asia-Pacific Oncology Precision Medicine Market Outlook
12. South America Oncology Precision Medicine Market Outlook
13. Middle East and Africa Oncology Precision Medicine Market Outlook
14. Market Dynamics
15. Market Trends & Developments
16. SWOT Analysis: Global Oncology Precision Medicine Market
17. Competitive Landscape (Inclusive of SWOT Analysis of Players Profiled)
18. Strategic Recommendations
Companies Mentioned
- Novartis AG
- F. Hoffmann-La Roche AG
- Merck & Co., Inc.
- Danaher Corporation
- Abbott Laboratories, Inc.
- Quest Diagnostics Inc
- Eurofins Genomics LLC
- Laboratory Corporation of America Holdings
- Thermos Fischer Scientific, Inc.
- bioMerieux SA
For more information about this report visit https://www.researchandmarkets.com/r/xvh6gh
