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Precision Medicine Software Market

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 ID:MRHC - 104305 Pages: 125 Apr-2021 Formats*: PDF Category: Healthcare Delivery: 2 to 4 Hours

The 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 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 are some of the major factors expected to drive the growth of this market. However, the lack of awareness about precision medicine practices and fragmented healthcare systems in developing countries hinder the growth of this market to a certain extent.

Impact of COVID-19 on the Precision Medicine Software Market

With the healthcare industry facing a crisis amidst the pandemic, it has been working on various solutions to combat the pandemic. The healthcare industry is engaged in conducting precision medicine research to enable a better understanding of COVID-19 and to measure the impact caused by the virus to discover potential therapies. Many governments have taken initiatives to accelerate the use of precision medicine for coronavirus. For instance, in July 2020, the San Antonio Partnership for Precision Therapeutics announced funding of three collaborative COVID-19 research efforts in San Antonio. These projects will support a strong foundation of transformative COVID-19 research happening in San Antonio. Cleveland Clinic also launched a genomic medicine project to identify genetic factors that drive susceptibility to the virus and use these to develop prevention and therapeutic strategies against the virus. Emory University researchers are also investigating an antiviral compound that works like Remdesivir, which inhibits viral replication.

Apart from this, many research initiatives have been undertaken amidst the pandemic, thereby providing opportunities for the precision medicine software market in the upcoming years. For instance,

  • A team at Texas Biomed is studying the role of a protein called furin that potentially impacts individual responses to COVID-19. There are indications that furin may be related to an increased risk of death from COVID-19 for individuals with underlying cardiovascular problems. Better understanding the role of furin and its unique effects on certain individuals may help develop patient-specific therapeutics that can be used to treat COVID-19. With the help of precision medicine, this study will understand why certain individuals have greater disease severity and why specific underlying conditions affect outcomes.
  • A team at the University of Texas (UT) Health San Antonio is performing the second research initiative and examining how the COVID-19 virus evades the body's immune system and can block certain aspects of the immune system in some individuals. The team's goal is to identify antiviral compounds either among existing FDA-approved treatments or in vast libraries of drug-like molecules that could effectively combat the ability of the virus to evade the immune defense.
  • The UT Health San Antonio is also studying specific pathways that allow the COVID-19 virus to evade the human immune system. This will allow researchers to understand how the disease caused by the virus behaves differently in different people.

               Precision Medicine Software Market       
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Key Findings of the Global Precision Medicine Software Market Study:

In 2020, the on-premise segment dominated the precision medicine software market

Based on deployment mode, the global 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 global 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 2020, the oncology segment accounted for the largest share of the global precision medicine software market

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.

In 2020, the healthcare providers segment accounted for the largest share of the global precision medicine software market

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.

Asia-Pacific: Fastest-growing Market

Based on geography, the global precision medicine software market is categorized into five major regions, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, with a further analysis of major countries in these regions. In 2020, North America accounted for the largest share of the global precision medicine software market. 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.

Key Players

The report includes the competitive landscape based on an extensive assessment of product portfolio, geographic presence, and key strategic developments adopted by leading market players in the industry over the past four years. The key players profiled 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.), N-of-One (U.S.), PhenoTips (Canada), PierianDx (U.S.), Foundation Medicine, Inc. (U.S.), and 2bPrecise (U.S.).

Scope of the Report:

Precision Medicine Software Market, by Delivery Mode

  • On-premise
  • Web & Cloud-based

Precision Medicine Software Market, by Application

  • Oncology
  • Pharmacogenomics
  • Other Applications

Precision Medicine Software Market, by End User

  • Healthcare Providers
  • Research & Government Institutes
  • Pharmaceutical & Biotechnology Companies

Precision Medicine Software Market, by Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe (RoE)
  • Asia-Pacific (APAC)
    • Japan
    • China
    • India
    • Rest of APAC (RoAPAC)
  • Latin America
  • Middle East and Africa

Key questions answered in the report:

The precision medicine software market report covers the market size & forecasts for various products across geographies. The precision medicine software market studied in this report involves the value analysis of various segments and sub-segments of precision medicine software at the regional and country levels.

The global precision medicine software market is projected to reach $2.55 billion by 2028, at a CAGR of 11.2% during the forecast period of 2021-2028.

Based on deployment mode, the global 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 54.2% of the global precision medicine software market.

The paradigm shift in treatment, rising pressure to decrease healthcare costs, scientific & technological advances in the genomics field, growing focus towards providing companion diagnostics & biomarkers, and rising prevalence of cancer are the key factors supporting the growth of this market. In addition, emerging markets and AI in precision medicine are some of the factors that offer significant growth opportunities for players operating in this market.

The lack of awareness about precision medicine practices and fragmented healthcare systems in developing countries are expected to hinder the growth of the precision medicine software market during the forecast period.

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.), N-of-One (U.S.), PhenoTips (Canada), PierianDx (U.S.), Foundation Medicine, Inc. (U.S.), and 2bPrecise (U.S.) among others.

The large patient population demanding innovative diagnosis & treatment options, developing healthcare infrastructure, rising research outsourcing, and increasing investments by major players are some of the key factors contributing to the growth of the precision medicine software market in the Asia-Pacific region.

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1.    Introduction
       1.1.    Market Definition
       1.2.    Market Ecosystem
       1.3.    Currency
       1.4.    Key Stakeholders

2.    Research Methodology
       2.1.    Research Process
       2.2.    Data Collection & Validation
                 2.2.1.    Secondary Research
                 2.2.2.    Primary Research
       2.3.    Market Assessment
                 2.3.1.    Market Size Estimation
                             2.3.1.1.    Bottom-Up Approach
                             2.3.1.2.    Top-Down Approach
                             2.3.1.3.    Growth Forecast
                 2.3.2.    Market Share Analysis
       2.4.    Assumptions for this Study
       2.5.    Limitations for the Study

3.    Executive Summary

4.    Market Insights
       4.1.    Introduction
       4.2.    Market Dynamics
                 4.2.1.    Drivers
                             4.2.1.1.    Paradigm Shift in Treatment
                             4.2.1.2.    Rising Pressure to Reduce Healthcare Costs
                             4.2.1.3.    Scientific & Technological Advances in the Genomics Field
                             4.2.1.4.    Growing Focus towards Providing Companion Diagnostics & Biomarkers
                             4.2.1.5.    Rising Prevalence of Cancer
                 4.2.2.    Restraints
                              4.2.2.1.    Lack of Awareness about Precision Medicine Practices
                              4.2.2.2.    Fragmented Healthcare Systems in Developing Countries
                 4.2.3.    Opportunities
                             4.2.3.1.    Emerging Economies
                             4.2.3.2.    Artificial Intelligence in Precision Medicine
                 4.2.4.    Challenges
                              4.2.4.1.    Lack of Reimbursement for Genetic Testing & Precision Medicine
                 4.2.5.    Covid 19 Impact Assessment

5.    Global Precision Medicine Software Market, by Deployment Mode
       5.1.    Introduction
       5.2.    On-Premise
       5.3.    Web & Cloud-Based

6.    Global Precision Medicine Software Market, by Application
       6.1.    Introduction
       6.2.    Oncology
       6.3.    Pharmacogenomics
       6.4.    Other Applications

7.    Global Precision Medicine Software Market, by End User
       7.1.    Introduction
       7.2.    Healthcare Providers
       7.3.    Research & Government Institutes
       7.4.    Pharmaceutical & Biotechnological Companies

8.    Precision Medicine Software Market, by Geography
       8.1.    Introduction
       8.2.    North America
                 8.2.1.    U.S.
                 8.2.2.    Canada
       8.3.    Europe
                 8.3.1.    Germany
                 8.3.2.    U.K.
                 8.3.3.    France
                 8.3.4.    Italy
                 8.3.5.    Spain
                 8.3.6.    Rest of Europe (RoE)
       8.4.    Asia-Pacific
                 8.4.1.    Japan
                 8.4.2.    China
                 8.4.3.    India
                 8.4.4.    Rest of Asia-Pacific (RoAPAC)
       8.5.    Latin America
       8.6.    Middle East & Africa

9.    Competitive Landscape
       9.1.    Introduction
       9.2.    Key Growth Strategies
       9.3.    Competitive Benchmarking

10.    Company Profiles
         10.1.    2bprecise LLC (A Part of Allscripts Healthcare Solutions Inc.)
                    10.1.1.    Business Overview
                    10.1.2.    Financial Overview
                    10.1.3.    Product Portfolio
                    10.1.4.    Strategic Developments
         10.2.    PierianDx, Inc.
                    10.2.1.    Business Overview
                    10.2.2.    Product Portfolio
                    10.2.3.    Strategic Developments
         10.3.    PhenoTips
                    10.3.1.    Business Overview
                    10.3.2.    Product Portfolio
                    10.3.3.    Strategic Developments
         10.4.    Foundation Medicine, Inc.
                    10.4.1.    Business Overview
                    10.4.2.    Product Portfolio
                    10.4.3.    Strategic Developments
         10.5.    N-of-One Inc.
                    10.5.1.    Business Overview
                    10.5.2.    Financial Overview
                    10.5.3.    Product Portfolio
                    10.5.4.    Strategic Developments
         10.6.    GenomOncology, LLC
                    10.6.1.    Business Overview
                    10.6.2.    Product Portfolio
                    10.6.3.    Strategic Developments
         10.7.    Translational Software, Inc.
                    10.7.1.    Business Overview
                    10.7.2.    Product Portfolio
         10.8.    LifeOmic Health, LLC
                    10.8.1.    Business Overview
                    10.8.2.    Product Portfolio
                    10.8.3.    Strategic Developments
         10.9.    Syapse, Inc.
                    10.9.1.    Business Overview
                    10.9.2.    Product Portfolio
                    10.9.3.    Strategic Developments
         10.10.    Fabric Genomics, Inc.
                      10.10.1.  Business Overview
                      10.10.2.  Product Portfolio
                      10.10.3.  Strategic Developments
         10.11.    Sophia Genetics SA
                      10.11.1.  Business Overview
                      10.11.2.  Product Portfolio
                      10.11.3.  Strategic Developments
         10.12.    Human Longevity, Inc.
                      10.12.1. Business Overview
                      10.12.2. Product Portfolio
                      10.12.3. Strategic Developments
         10.13.    Sunquest Information Systems, Inc. (A Part of Roper Technologies, Inc.)
                      10.13.1.  Business Overview
                      10.13.2.  Financial Overview
                      10.13.3.  Product Portfolio

11.    Appendix
         11.1.    Questionnaire
         11.2.    Available Customization

List of Tables

Table 1        Global Precision Medicine Software Market: Impact Analysis of Market Drivers (2021–2028)
Table 2        Benefits of Precision Medicine from an Individual and Collective Perspective
Table 3        Cancer Incidence, by Type, 2020
Table 4        Global Precision Medicine Software Market: Impact Analysis of Market Restraints (2021–2028)
Table 5        Global Precision Medicine Software Market Size, by Deployment Mode, 2019–2028 (USD Million)
Table 6        Companies Offering On-Premises Precision Medicine Software
Table 7        Global On-Premise Precision Medicine Software Market Size, by Country/Region, 2019–2028 (USD Million)
Table 8        Companies Offering Cloud-Based Precision Medicine Software
Table 9        Global Cloud-Based Precision Medicine Software Market Size, by Country/Region, 2019–2028 (USD Million)
Table 10        Global Precision Medicine Software Market Size, by Application, 2019–2028 (USD Million)
Table 11        Companies Offering Precision Medicine Software for Oncology
Table 12        Global Precision Medicine Software Market Size for Oncology, by Country/Region, 2019–2028 (USD Million)
Table 13        Companies Offering Precision Medicine Software for Pharmacogenomics
Table 14        Global Precision Medicine Software Market Size for Pharmacogenomics, by Country/Region, 2019–2028 (USD Million)
Table 15        Companies Offering Precision Medicine Software for Other Applications
Table 16        Global Precision Medicine Software Market Size for Other Applications, by Country/Region, 2019–2028 (USD Million)
Table 17        Global Precision Medicine Software Market Size, by End User, 2019–2028 (USD Million)
Table 18        Strategic Developments by Key Companies
Table 19        Global Precision Medicine Software Market Size for Healthcare Providers, by Country/Region, 2019–2028 (USD Million)
Table 20        Recent Fundings
Table 21        Global Precision Medicine Software Market Size for Research & Government Institutes, by Country/Region, 2019–2028 (USD Million)
Table 22        Strategic Developments by Key Companies
Table 23        Global Precision Medicine Software Market Size for Pharmaceutical & Biotech Companies, by Country/Region, 2019–2028 (USD Million)
Table 24        Global Precision Medicine Software Market Size, by Country/Region, 2019–2028 (USD Million)
Table 25        North America: Precision Medicine Software Market Size, by Country, 2019–2028 (USD Million)
Table 26        North America: Precision Medicine Software Market Size, by Deployment Mode, 2019–2028 (USD Million)
Table 27        North America: Precision Medicine Software Market Size, by Application, 2019–2028 (USD Million)
Table 28        North America: Precision Medicine Software Market Size, by End User, 2019–2028 (USD Million)
Table 29        U.S.: Precision Medicine Software Market Size, by Deployment Mode, 2019–2028 (USD Million)
Table 30        U.S.: Precision Medicine Software Market Size, by Application, 2019–2028 (USD Million)
Table 31        U.S.: Precision Medicine Software Market Size, by End User, 2019–2028 (USD Million)
Table 32        Canada: Precision Medicine Software Market Size, by Deployment Mode, 2019–2028 (USD Million)
Table 33        Canada: Precision Medicine Software Market Size, by Application, 2019–2028 (USD Million)
Table 34        Canada: Precision Medicine Software Market Size, by End User, 2019–2028 (USD Million)
Table 35        Europe: Precision Medicine Software Market Size, by Country/Region, 2019–2028 (USD Million)
Table 36        Europe: Precision Medicine Software Market Size, by Deployment Mode, 2019–2028 (USD Million)
Table 37        Europe: Precision Medicine Software Market Size, by Application, 2019–2028 (USD Million)
Table 38        Europe: Precision Medicine Software Market Size, by End User, 2019–2028 (USD Million)
Table 39        Germany: Precision Medicine Software Market Size, by Deployment Mode, 2019–2028 (USD Million)
Table 40        Germany: Precision Medicine Software Market Size, by Application, 2019–2028 (USD Million)
Table 41        Germany: Precision Medicine Software Market Size, by End User, 2019–2028 (USD Million)
Table 42        U.K.: Precision Medicine Software Market Size, by Deployment Mode, 2019–2028 (USD Million)
Table 43        U.K.: Precision Medicine Software Market Size, by Application, 2019–2028 (USD Million)
Table 44        U.K.: Precision Medicine Software Market Size, by End User, 2019–2028 (USD Million)
Table 45        France: Precision Medicine Software Market Size, by Deployment Mode, 2019–2028 (USD Million)
Table 46        France: Precision Medicine Software Market Size, by Application, 2019–2028 (USD Million)
Table 47        France: Precision Medicine Software Market Size, by End User, 2019–2028 (USD Million)
Table 48        Number of Cancer Cases (2019 Vs. 2040)
Table 49        Italy: Precision Medicine Software Market Size, by Deployment Mode, 2019–2028 (USD Million)
Table 50        Italy: Precision Medicine Software Market Size, by Application, 2019–2028 (USD Million)
Table 51        Italy: Precision Medicine Software Market Size, by End User, 2019–2028 (USD Million)
Table 52        Spain: Precision Medicine Software Market Size, by Deployment Mode, 2019–2028 (USD Million)
Table 53        Spain: Precision Medicine Software Market Size, by Application, 2019–2028 (USD Million)
Table 54        Spain: Precision Medicine Software Market Size, by End User, 2019–2028 (USD Million)
Table 55        Covid-19 Cases in European Countries
Table 56        RoE: Precision Medicine Software Market Size, by Deployment Mode, 2019–2028 (USD Million)
Table 57        RoE: Precision Medicine Software Market Size, by Application, 2019–2028 (USD Million)
Table 58        RoE: Precision Medicine Software Market Size, by End User, 2019–2028 (USD Million)
Table 59        Asia-Pacific: Precision Medicine Software Market Size, by Country/Region, 2019–2028 (USD Million)
Table 60        Asia-Pacific: Precision Medicine Software Market Size, by Deployment Mode, 2019–2028 (USD Million)
Table 61        Asia-Pacific: Precision Medicine Software Market Size, by Application, 2019–2028 (USD Million)
Table 62        Asia-Pacific: Precision Medicine Software Market Size, by End User, 2019–2028 (USD Million)
Table 63        Japan: Precision Medicine Software Market Size, by Deployment Mode, 2019–2028 (USD Million)
Table 64        Japan: Precision Medicine Software Market Size, by Application, 2019–2028 (USD Million)
Table 65        Japan: Precision Medicine Software Market Size, by End User, 2019–2028 (USD Million)
Table 66        China: Precision Medicine Software Market Size, by Deployment Mode, 2019–2028 (USD Million)
Table 67        China: Precision Medicine Software Market Size, by Application, 2019–2028 (USD Million)
Table 68        China: Precision Medicine Software Market Size, by End User, 2019–2028 (USD Million)
Table 69        India: Precision Medicine Software Market Size, by Deployment Mode, 2019–2028 (USD Million)
Table 70        India: Precision Medicine Software Market Size, by Application, 2019–2028 (USD Million)
Table 71        India: Precision Medicine Software Market Size, by End User, 2019–2028 (USD Million)
Table 72        RoAPAC: Precision Medicine Software Market Size, by Deployment Mode, 2019–2028 (USD Million)
Table 73        RoAPAC: Precision Medicine Software Market Size, by Application, 2019–2028 (USD Million)
Table 74        RoAPAC: Precision Medicine Software Market Size, by End User, 2019–2028 (USD Million)
Table 75        Latin America: Precision Medicine Software Market Size, by Deployment Mode, 2019–2028 (USD Million)
Table 76        Latin America: Precision Medicine Software Market Size, by Application, 2019–2028 (USD Million)
Table 77        Latin America: Precision Medicine Software Market Size, by End User, 2019–2028 (USD Million)
Table 78        Middle East & Africa: Precision Medicine Software Market Size, by Deployment Mode, 2019–2028 (USD Million)
Table 79        Middle East & Africa: Precision Medicine Software Market Size, by Application, 2019–2028 (USD Million)
Table 80        Middle East & Africa: Precision Medicine Software Market Size, by End User, 2019–2028 (USD Million)
Table 81        Recent Developments, by Company, 2018–2021

List of Figures

Figure 1        Research Process
Figure 2        Key Secondary Sources
Figure 3        Primary Research Techniques
Figure 4        Key Executives Interviewed
Figure 5        Breakdown of Primary Interviews (Supply-Side & Demand-Side)
Figure 6        Market Size Estimation
Figure 7        Global Precision Medicine Software Market Size, by Deployment Mode, 2021 Vs. 2028 (USD Million)
Figure 8        Global Precision Medicine Software Market Size, by Application, 2021 Vs. 2028 (USD Million)
Figure 9        Global Precision Medicine Software Market Size, by End User, 2021 Vs. 2028 (USD Million)
Figure 10    Precision Medicine Software Market, by Region
Figure 11    Market Dynamics
Figure 12    Paradigm Shift in Treatment from One-Size-Fit-All Medicine to Precision Medicine
Figure 13    Global Genomics Annual Funding (USD Million)
Figure 14    Global Precision Medicine Software Market Size, by Deployment Mode, 2021vs 2028 (USD Million)
Figure 15    Global Precision Medicine Software Market Size, by Application, 2021–2028 (USD Million)
Figure 16    Global Precision Medicine Software Market Size, by End User, 2021–2028 (USD Million)
Figure 17    Global Precision Medicine Software Market, by Region, 2019–2028 (USD Million)
Figure 18    Geographic Snapshot: North American Precision Medicine Software Market
Figure 19    Estimated Cancer Incidence in the U.S., 2000–2030 (Number of Cases)
Figure 20    Geographic Snapshot: European Precision Medicine Software Market
Figure 21    Geographic Snapshot: Asia-Pacific Precision Medicine Software Market
Figure 22    Key Growth Strategies Adopted by Leading Players, 2018–2021
Figure 23    Precision Medicine Software: Competitive Benchmarking, by Deployment Mode
Figure 24    Precision Medicine Software: Competitive Benchmarking, by Application
Figure 25    Allscripts Healthcare Solutions, Inc: Financial Overview (2020)
Figure 26    Qiagen N.V.: Financial Overview (2020)
Figure 27    Roper Technologies, Inc.: Financial Overview (2020)

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    COVID-19

    This report provides pre & post COVID-19 market estimates.

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