Dublin, Dec. 24, 2024 (GLOBE NEWSWIRE) -- The "Precision Medicine Software - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Precision Medicine Software was estimated at US$2.2 Billion in 2023 and is projected to reach US$4.4 Billion by 2030, growing at a CAGR of 10.0% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Several factors are contributing to the growth of the precision medicine software market, including the increasing prevalence of chronic diseases, advancements in genomics, and growing consumer demand for personalized healthcare. The rising incidence of cancer, cardiovascular diseases, and genetic disorders is prompting healthcare providers to seek more effective, targeted therapies. Precision medicine software, by offering tools for genomic profiling and predictive analytics, enables clinicians to develop tailored treatment plans, leading to better outcomes and reduced trial-and-error in prescribing medications.
Another major growth driver is the continued reduction in the cost of genomic sequencing, making personalized medicine more accessible to larger patient populations. As genetic testing becomes more affordable, healthcare providers are increasingly incorporating genomic data into routine clinical practice. This trend is further supported by technological innovations in AI, which improve the speed and accuracy of data analysis.
In addition, the growing emphasis on value-based care models is accelerating the adoption of precision medicine software. Healthcare systems are shifting from volume-based to value-based care, focusing on improving patient outcomes while reducing costs. Precision medicine, by offering more precise diagnoses and personalized treatments, aligns with these goals, reducing the need for unnecessary treatments and hospitalizations. These factors, along with the increasing availability of big data analytics and cloud computing in healthcare, are expected to drive strong growth in the precision medicine software market in the coming years.
What Technological Innovations Are Driving the Precision Medicine Software Market?
Technological advancements in artificial intelligence (AI), big data analytics, cloud computing, and genomics are driving the growth of precision medicine software. One of the key innovations is the integration of next-generation sequencing (NGS) with AI-powered software, allowing for fast and comprehensive analysis of genomic data. This technology helps identify actionable biomarkers that guide personalized treatments, especially in fields like oncology. AI and machine learning algorithms analyze vast datasets from multiple sources to reveal correlations between genetic variations and treatment outcomes, enabling precision medicine applications to predict disease risks and the effectiveness of therapies more accurately.
Additionally, cloud-based platforms are transforming how healthcare providers store, manage, and share critical health information. These platforms allow for real-time data sharing and collaboration between researchers, clinicians, and geneticists, significantly accelerating the discovery of personalized treatments. The ability to integrate data from wearable devices and remote monitoring tools further enhances the precision of diagnosis and treatment, offering a more comprehensive view of patient health over time. The convergence of these technologies is enabling healthcare systems to adopt more data-driven, precise, and predictive approaches to patient care.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Precision Medicine Software Market such as 2bprecise, LLC, Fabric Genomics, Inc., Foundation Medicine, Inc., Gene42, Inc., Human Longevity, Inc. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Segments
- Deployment (On-Premise, Cloud)
- Application (Oncology, Pharmacogenomics, Rare Diseases, Other Applications)
- End-Use (Healthcare Providers, Research Centers & Academic Institutes, Pharma & Biotech Companies, Other End-Uses)
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 89 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $2.2 Billion |
| Forecasted Market Value (USD) by 2030 | $4.4 Billion |
| Compound Annual Growth Rate | 10.0% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Precision Medicine Software - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Increasing Adoption of Genomic Data Analysis Software Spurs Growth in Precision Medicine Software Market
- Advancements in AI and Machine Learning Propel Demand for Precision Medicine Software for Predictive Analytics
- Rising Focus on Personalized Healthcare Expands Addressable Market Opportunity for Precision Medicine Software Solutions
- Growth of Direct-to-Consumer Genetic Testing Drives Adoption of Precision Medicine Software for Data Management
- Integration of Multi-Omics Data Strengthens the Business Case for Advanced Precision Medicine Software Platforms
- Increasing Use of Real-World Evidence (RWE) in Clinical Research Generates Demand for Precision Medicine Software Tools
- Expansion of Bioinformatics Capabilities Drives Adoption of Precision Medicine Software for Complex Data Interpretation
- Rising Demand for Cloud-Based Solutions Strengthens Adoption of Precision Medicine Software in Healthcare Settings
- Technological Advancements in Electronic Health Records (EHR) Integration Drive Growth in Precision Medicine Software
- Growing Investment in Personalized Therapeutics Fuels Demand for Precision Medicine Software for Drug Development
- Increasing Use of Wearable Devices and Health Sensors Expands Opportunities for Precision Medicine Software to Integrate Real-Time Data
- Development of Next-Generation Sequencing (NGS) Technologies Drives Adoption of Precision Medicine Software for Genomic Interpretation
FOCUS ON SELECT PLAYERS:Some of the 34 companies featured in this Global Precision Medicine Software Market report include
- 2bprecise, LLC
- Fabric Genomics, Inc.
- Foundation Medicine, Inc.
- Gene42, Inc.
- Human Longevity, Inc.
- Lifeomic Health, LLC
- N-Of-One, Inc. (A Subsidiary of Qiagen N.V.)
- Pieriandx, Inc.
- Sophia Genetics Sa
- Sunquest Information Systems, Inc.
- Syapse, Inc.
- Translational Software Inc.
For more information about this report visit https://www.researchandmarkets.com/r/xlnd7m
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