Precision Oncology Market Size up to 2030 - Quantitative Research by QYResearch Medical

The global Precision Oncology market is forecasted to grow at a rate of 9.9% from USD 49.98 billion in 2019 to USD 99.72 billion in 2030. The Global Precision oncology is based on a novel concept that states, two people infected with the same disease don't need to have the same physical acknowledgment toward the situation.

However, it depends on the encompassing atmosphere and impact of genes and symptoms of the patient. Furthermore, it also depends on the patient's ability to react to that particular disease, allowing the doctors and researchers to organize the necessary treatment. Precision medicine commonly includes system biology and phonemics to decide the purpose of each specific patient's illness at the molecular level. Developed by the use of combined medications to discuss individual patient's ailments. Precision oncology offers many advantages, such as adequate treatment customized to patients' needs and disease categories. Moreover, precision medicine can reduce the cost of treatment and help reduce the repeated administration of prescriptions.

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End-user Outlook:

The end-user segment mainly focuses on the type of consumer or the providers that are going to provider to the consumer these type of end-user are mainly of 4 types that are further been divide as per the consumer need, the most dominant user are Biotechnology company in 2019 and will increasing in the forecasted period of 2030, The Pharmaceutical sub segment is the second largest segment that has been capturing the market share.

Technology Type Outlook:

In the technological segment, functional characterization of recognized genomic mutations, linked with comprehensive clinical data available in electronic health records, can contribute compelling testimony to implicate novel disease and drug-associated mutations in phenotypically well-characterized patients. There have been expanding efforts made by both the government and private players to establish databases that contain information of characterized genes of a considerable population. Some countries are developing a national storehouse of genetic information to accelerate the research in precision in oncology. Organizations, such as meta-analysis, and RNA-seq data analysis, are generally used to characterize genes.

Application Outlook:

The increasing approval of drugs, its associate diagnostic assay, cost-useful profiling of DNA, the rising incidence rate of cancer, and the rise of data-driven healthcare are some of the causes for the growth of the precision oncology market. Besides, the growing use of technology in research, along with the insertion of high-throughput sequencing platforms, shapes the precision medicine scenario. The number of targeted molecules in the pipeline for a specific application has been exponentially growing, particularly in oncology.

The current escalating cost of drug discovery and increasing administrative requirements have developed the demand for an individualized result. The improvement of companion diagnostics appears to allow a set of tools and relevant clinical and biological knowledge to address various pharmaceutical companies. Industry players are now patenting a particle and its associate diagnostics to achieve a competitive edge, profit margin, and more usage. With the possible companion diagnostics, both victims and practitioners are assured of the therapy\'s effectiveness.

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Regional Outlook:

North American region held the most notable market share in 2019. The increasing demand for Precision Oncology in well-established end-user activities, it is expected to register a considerable CAGR during the period. Besides, the rising indigenous and industrial construction activities in the U.S. will offer lucrative opportunities for Precision Oncology in roofing plans. The Americas are estimated to manage the global precision medicine market completely the forecast period, to advancements in gene mapping technologies, which perform a vital role in the growth of the national market.

The European market for precision oncology is supposed to be the third-largest during the projection period. The increasing appropriation of precise diagnostic tools, electronic healthcare records, and drugs appointed, especially for a disease, is expected to boost the market growth in this region. Additionally, the corporations producing in Europe are mainly concentrating on mergers and acquisitions, which is anticipated to support market growth.

Market-O-Nomics

  • The leading players have integrated their raw material production and distribution operations to manage product quality. It provides companies a competitive advantage in the form of cost benefits and increasing the profit margin. Companies are doing research & development activities to develop new products to sustain market competition & changing end-user needs.
  • On the bases application, the market involves respiratory, oncology, CNS, immunology, and others. Oncology is likely to witness the highest CAGR in the market over the forecast timeframe. Immunology is estimated for the second largest market share in 2019 and is anticipated to designate similar growth courses over the approaching years. Utilization of knowledge obtained from advanced platforms like large data analytics and bioinformatics large can stimulate the treatment process.
  • By end-user, the market comprises pharmacy and biotechnology firms, healthcare-IT/big data firms, clinical laboratories, diagnostic companies, and others. Healthcare-IT/big data firms are prophesied to hold an abundant share in the precision medicine market over the estimated timeframe. Thus it can be compared to the growing convenience of precision medicine software systems and rising stress on providing customized drugs in hospitals.
  • Diagnostic laboratories committed to the second most generous revenue share in 2019, due to the developing technology enactment rate by diagnostic workrooms that guarantees top-quality medical diagnostic devices by utilizing the software package for information repository.
  • Europe held the significant share in the global precision medicine market and is extended to grow at a uniform growth rate during the forecast timeframe. The expanding use of certain diagnostic instruments, digital health records, and medicines prescribed, principally for illness, is anticipated to increase market construction. Furthermore, European businesses focus on fusions and acquisitions that are supposed to promote the industry\'s improvement.

Companies considered and profiled in this market study

Eagle Genomics, ASEBIO, Menarini Silicon Biosystems, NanoString Technologies, Inc. NeoGenomics, Novartis AG, Pfizer Inc., QIAGEN, Tepnel Pharma Services,Teva Pharmaceuticals Industries Ltd. have been profiled in the report.They are the major manufacturers of the End-user.

The players operating in the market have undertaken a number of strategies related to the market in the period 2019-2020. The key highlight is:

  • Foundation Medicine in 2018 may announce approval for Advanced Diagnostic Laboratory Test for FoundationOne CDx used for solid tumors that combines multiple companion diagnostics. The most advanced product endorsement will assist in extending its current commodity portfolio.
  • In May 2019, Qiagen partnered with drugmaker Eli Lily to receive a cancer testing and cancer companion diagnostics and establish its behavior in the US.

Start-up Traction

The industry offers numerous growth opportunities. Thus, several startups providing innovative End-users and technologies have been entering the market. Some of them include the

  • The Moderna Therapeutics is discovering the construction of a new class of medicines made of messenger RNA. This unique drug platform illustrations on the method that modified mRNA can improve the body’s cellular equipment to provide nearly any protein of interest, from essential proteins to antibodies and other entirely novel protein constructs that can have therapeutic change inside and outside of cells.
  • The BioNTech is developing the next generation of personalized immunotherapies to help transform the treatment of people with cancer and other debilitating conditions.
  • The NantHealth selections are an advancing essential to better identify and target particular disease characteristics modernizing clinical and operational performance with real-time actionable clinical data and supporting wellness for a more salubrious, happier world. We are developing an integrated, evidence-based, medically-informed, personalized approach to the delivery of care and the advancement of next-generation healthcare clarifications.

Deals Landscape

Mergers and Acquisitions are an integral part of the Precision Oncology industry. Along with the companies operating in the market, other key market players have also been entering the industry.

  • In April 2019, the NanoString Technologies, Inc., a provider of life ability tools for translational analysis and distinguishing molecular outputs, today published a commercial transaction with Abcam plc, a global innovator in life science reagents and apparatus, for the production and sale of antibodies specifically for use with NanoString’s new GeoMx Digital Spatial Profiler.
  • mergers and acquistions: deals landscape

Expert Insights:

Reports and Data forecasts promising developments for increased adoption of Precision Oncology technology. According to industrial experts, equipment and supplies relating to protection against COVID-19 will usher in the market and are soon to be seen in industry. Moreover, new manufacturers are expected to enter the market who are likely to provide enhanced Precision oncology technology. New companies entering the industry would focus on innovating and providing through advanced technologies thereby reducing complexity and lowering the overall total cost of operation. Experts also believe that increase in adoption of latest technology in emerging nations would be a key development area for the industry.

Segments covered in the report

This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2020 to 2030. The scope of the report can be defined as:

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For the purpose of this report, Reports and Data have segmented into the global Precision Oncology market on the basis of End-user, Technology Type, Application, and region:

End-user Outlook (Revenue, USD Billion; 2019-2030)

  • Pharmaceuticals Companies
  • Biotechnology Companies
  • Diagnostic Companies
  • Healthcare Data Companies

Technology Type Outlook (Revenue, USD Million; 2019-2030)

  • Big data Analytics
  • Bioinformatics
  • Gene Sequencing
  • Drug Discovery
  • Companies Diagnostics

Application Outlook (Revenue, USD Billion; 2019-2030)

  • Consumable
  • Instruments
  • Services

Regional Outlook (Revenue, USD Billion; 2019-2030)

  • North America
    • U.S
    • Canada
  • Europe
    • Germany
    • U.K
    • France
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • Rest of APAC
  • MEA
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • Latin America
    • Brazil
    • Rest of LATAM

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