Dublin, June 23, 2021 (GLOBE NEWSWIRE) -- The "Precision Medicine Software Market by Deployment Mode (On-premise, Cloud-based), Application (Oncology, Pharmacogenomics, CNS), End User (Healthcare Providers, Research, Academia, Pharma, Biotech) - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global precision medicine software market is expected to grow at a CAGR of 11.2% from 2021 to 2028 to reach 2.55 billion by 2028.
The growth in the precision medicine software market is mainly attributed to the paradigm shift in treatment, rising pressure to decrease healthcare costs, scientific & technological advances in the genomics field, and growing focus towards providing companion diagnostics & biomarkers for various therapeutic areas. Moreover, emerging countries and AI in precision medicine provide growth opportunities for players operating in the precision medicine software market.
Based on deployment mode, the precision medicine software market is categorized into on-premise and web & cloud-based. In 2020, the on-premise segment accounted for the largest share of the precision medicine software market. The large share of this segment is primarily attributed to the broad range of advantages associated with the use of on-premise software, such as high security of data, low risk of data breaches, and full command over software upgrades & data storage. In addition, higher adoption among end-users and flexibility with connection bandwidth further support the growth of the segment.
Based on application, the precision medicine software market is mainly segmented into oncology, pharmacogenomics, central nervous system disorders, hereditary disorders, and cardio & metabolic disorders. In 2020, the oncology segment accounted for the largest share of the global precision medicine software market.
The large share of this segment is primarily attributed to the growing prevalence of cancer, shift towards personalized treatment, rising funding in cancer research, applications of precision medicine in oncology research, and increased investments by government organizations in precision medicine and related software industry.
Based on end user, the global precision medicine software market is categorized into healthcare providers, research and government institutes, and pharmaceutical & biotechnology companies. In 2020, the healthcare providers segment accounted for the largest share of the global precision medicine software market.
The large share of this segment is primarily attributed to the rising number of tertiary/specialty care hospitals, rising incidence of chronic diseases, growing healthcare infrastructure, increasing demand for quality healthcare, and shift towards personalized/precision medicine.
In 2020, North America commanded the largest share of the global precision medicine software market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The Asia-Pacific region is expected to register the highest growth during the forecast period. The growing shift in treatment from one-size-fits-all medicines to precision medicine, increased spending on healthcare, rising funds for research activities, and growing focus of international players to expand their presence in this region are some of the key factors expected to propel the growth of the precision medicines software market in Asia-Pacific.
The key players operating in the global precision medicine software market are
Syapse Inc. (U.S.)
Fabric Genomics Inc. (U.S.)
GenomOncology LLC (U.S.)
SOPHiA GENETICS SA (Switzerland)
Human Longevity Inc. (U.S.)
Sunquest Information Systems Inc. (U.S.)
LifeOmic Health LLC (U.S.)
Translational Software Inc. (U.S.)
Foundation Medicine Inc. (U.S.)
Key questions answered in the report:
Which are the high growth market segments in terms of deployment mode, application, end-users, and region/countries?
What was the historical market for precision medicine software across the globe?
What are the market forecasts and estimates for the period 2021-2028?
What are the major drivers, restraints, opportunities, and challenges in the global precision medicine software market?
Who are the major players in the precision medicine software market?
How is the competitive landscape, and who are the market leaders in the global precision medicine software market?
What are the recent developments in the global precision medicine software market?
What are the different strategies adopted by the major players in the global precision medicine software market?
What are the geographical trends and high growth regions/ countries?
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Insights
4.2. Market Dynamics
22.214.171.124. Paradigm Shift in Treatment
126.96.36.199. Rising Pressure to Reduce Healthcare Costs
188.8.131.52. Scientific & Technological Advances in the Genomics Field
184.108.40.206. Growing Focus towards Providing Companion Diagnostics & Biomarkers
220.127.116.11. Rising Prevalence of Cancer
18.104.22.168. Lack of Awareness about Precision Medicine Practices
22.214.171.124. Fragmented Healthcare Systems in Developing Countries
126.96.36.199. Emerging Economies
188.8.131.52. Artificial Intelligence in Precision Medicine
184.108.40.206. Lack of Reimbursement for Genetic Testing & Precision Medicine
4.2.5. Covid 19 Impact Assessment
5. Global Precision Medicine Software Market, by Deployment Mode
5.3. Web & Cloud-Based
6. Global Precision Medicine Software Market, by Application
6.4. Other Applications
7. Global Precision Medicine Software Market, by End User
7.2. Healthcare Providers
7.3. Research & Government Institutes
7.4. Pharmaceutical & Biotechnological Companies
8. Precision Medicine Software Market, by Geography
9. Competitive Landscape
9.2. Key Growth Strategies
9.3. Competitive Benchmarking
10. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/qocd0z
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