Precision Medicine Software Market worth $2.0 billion by 2024

 swapnil shitole

The precision medicine software market is projected to reach USD 2.0 billion by 2024 from USD 1.2 billion in 2019, at a CAGR of 11.5%.

Factors such as the rising government funding in precision medicine initiatives, partnerships among pharmaceutical and software companies, the entry of new players & VC funding, and growth in the number of cancer patients are driving the growth of the precision medicine software market.

By delivery mode, cloud-based systems are to register the highest CAGR during the forecast period

On the basis of delivery mode, the precision medicine software market is segmented into on-premise and cloud-based systems. The cloud-based segment is expected to register the highest CAGR of the precision medicine software market during the forecast period. Growth in this segment can be attributed to the comparatively lower capital expenses and operational costs incurred in this model, alongside its scalability, flexibility, and affordability. Cloud-based solutions help healthcare organizations share and integrate information from different locations, and these solutions are comparatively affordable to install and maintain than on-premise solutions, which contribute to the high growth and popularity of the cloud-based delivery model.

Download PDF Brochure :

By application, the oncology segment dominated the precision medicine software market in 2018

By application, the precision medicine software market is segmented into oncology, pharmacogenomics, rare diseases, and other applications. The oncology segment accounted for the largest share of the precision medicine software market in 2018. The large share of this segment can be attributed to the growing prevalence of cancer, rising funding in cancer research, promising applications of precision medicine in oncology research, and increased investments by government organizations in precision medicine software.

North America dominated the market in 2018

Geographically, the precision medicine software market is divided into North America, Europe, Asia, and the Rest of the World (RoW). North America accounted for the largest share in 2018 owing to factors such as growing investments and favorable initiatives for the implementation of precision medicine software. North America is followed by Europe and Asia. The market in North America is also projected to be the fastest-growing market during the forecast period.

Syapse, Inc. (US), 2bPrecise LLC (Israel), Foundation Medicine, Inc. (US), Fabric Genomics (US), SOPHiA GENETICS SA (Switzerland), PierianDx, Inc. (US), 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 key players in the precision medicine software market.

Request Sample Pages :

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Domain: Medical
Category: Practice Mngmnt
Posted By: swapnil shitole and Contact swapnil shitole

Recent Press Releases

New mid catering - Shortlisted 6th F...

We are here with another good news for you! Your favourite catering company has now been shortlisted as one of the nominees at The 6th Food Awards England 2019. We are glad that

20 September, 2019

Learning Quran Online And How To Mak...

In the name of Allah, the most beneficent, the most merciful. Praise be to the Almighty Allah, the Lord of all the worlds and may His peace and blessings continually be upon his Pr

20 September, 2019

BONDAR launches Kickstarter Campaign...

Now Seeking Community Support via Kickstarter, These Men’s T-Shirts feature Organic Cotton & Quality Printing! BONDAR is a Berlin based German fashion brand for men and

20 September, 2019