Precision Medicine Software Market by Delivery Mode (On-premise, Cloud-based), Application (Oncology, Pharmacogenomics, CNS), End User (Healthcare Providers, Research, Academia, Pharma, Biotech) – Global Forecast to 2027

  • Report ID:MRHC - 104305
  • Pages: 120
  • Apr 2020
  • Formats*: PDF
  • Category: Healthcare
  • Delivery: 2 to 4 Hours

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 the Study
    2.5. Limitations for the Study

3. Executive Summary

4. Market Insights
    4.1. Introduction
    4.2. Drivers
           4.2.1. Paradigm Shift in Treatment
           4.2.2. Rising Pressure to Decrease Healthcare Costs
           4.2.3. Scientific & Technological Advances in the Genomics Field 
           4.2.4. Growing Focus Towards Providing Companion Diagnostics (CDx) & Biomarkers
    4.3. Restraints
           4.3.1. Lack of Awareness about Precision Medicine Practices
           4.3.2. Fragmented Healthcare Systems in Developing Countries
    4.4. Opportunities
           4.4.1. Emerging Economies
           4.4.2. Artificial Intelligence in Precision Medicine
    4.5. Challenge
           4.5.1. Lack of Reimbursement for Genetic Testing & Precision Medicine

5. Global Precision Medicine Software Market, by Delivery 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 and Government Institutes
    7.4. Pharmaceutical & Biotechnology Companies

8. Geographic Analysis
    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. France
           8.3.3. U.K.
           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 and Africa

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

10. Company Profiles (Business Overview, Strategic Developments, Product and Service Offering, Financial Overview)
      10.1. 2bprecise LLC (A Part of Allscripts Healthcare Solutions Inc.)
      10.2. Pieriandx, Inc.
      10.3. Gene42, Inc.
      10.4. Foundation Medicine, Inc.
      10.5. N-Of-One, Inc. (A Part of Qiagen N.V.)
      10.6. Translational Software, Inc.
      10.7. Syapse, Inc.
      10.8. Fabric Genomics, Inc.
      10.9. Sophia Genetics SA
      10.10. Human Longevity, Inc.
      10.11. Sunquest Information Systems, Inc.
      10.12. Lifeomic Health, LLC

11. Appendix
      11.1. Questionnaire
      11.2. Available Customization

List of Tables

Table 1 Precision Medicine Software Market: Impact Analysis of Market Drivers (2019–2027)
Table 2 Precision Medicine Software Market: Impact Analysis of Market Restraints (2019–2027)
Table 3 Precision Medicine Software Market Size, by Delivery Mode, 2017-2027 ($ Million)
Table 4 On-Premise Precision Medicine Software Market Size, by Country, 2017-2027 ($ Million)
Table 5 Web and Cloud-Based Precision Medicine Software Market Size, by Country, 2017-2027 ($ Million)
Table 6 Precision Medicine Software Market Size, by Application, 2017-2027 ($ Million)
Table 7 Companies Offering Precision Medicine Software for Oncology
Table 8 Precision Medicine Software Market Size for Oncology, by Country, 2017-2027 ($ Million)
Table 9 Companies Offering Precision Software for Pharmacogenomics
Table 10 Precision Medicine Software Market Size for Pharmacogenomics, by Country, 2017-2027 ($ Million)
Table 11 Precision Medicine Software Market Size for Other Applications, by Country, 2017-2027 ($ Million)
Table 12 Precision Medicine Software Market Size, by End User, 2017-2027 ($ Million)
Table 13 Strategic Developments by Key Companies
Table 14 Precision Medicine Software Market Size for Healthcare Providers, by Country, 2017-2027 ($ Million)
Table 15 Recent Funding
Table 16 Precision Medicine Software Market Size for Research & Government Institutes, by Country, 2017-2027 ($ Million)
Table 17 Strategic Developments by Key Companies
Table 18 Precision Medicine Software Market Size for Pharmaceutical & Biotechnological Companies, by Country, 2017-2027 ($ Million)
Table 19 Precision Medicine Software Market Size, by Country/Region, 2017-2027 ($Million)
Table 20 North America: Precision Medicine Software Market Size, by Country, 2017-2027 ($Million)
Table 21 North America: Precision Medicine Software Market Size, by Delivery Mode, 2017-2027 ($Million)
Table 22 North America: Precision Medicine Software Market Size, by Application, 2017-2027 ($Million)
Table 23 North America: Precision Medicine Software Market Size, by End User, 2017-2027 ($Million)
Table 24 U.S.: Precision Medicine Software Market Size, by Delivery Mode, 2017-2027 ($Million)
Table 25 U.S.: Precision Medicine Software Market Size, by Application, 2017-2027 ($Million)
Table 26 U.S.: Precision Medicine Software Market Size, by End User, 2017-2027 ($Million)
Table 27 Canada: Precision Medicine Software Market Size, by Delivery Mode, 2017-2027 ($Million)
Table 28 Canada: Precision Medicine Software Market Size, by Application, 2017-2027 ($Million)
Table 29 Canada: Precision Medicine Software Market Size, by End User, 2017-2027 ($Million)
Table 30 Europe: Precision Medicine Software Market Size, by Country, 2017-2027 ($Million)
Table 31 Europe: Precision Medicine Software Market Size, by Delivery Mode, 2017-2027 ($Million)
Table 32 Europe: Precision Medicine Software Market Size, by Application, 2017-2027 ($Million)
Table 33 Europe: Precision Medicine Software Market Size, by End User, 2017-2027 ($Million)
Table 34 Germany: Precision Medicine Software Market Size, by Delivery Mode, 2017-2027 ($Million)
Table 35 Germany: Precision Medicine Software Market Size, by Application, 2017-2027 ($Million)
Table 36 Germany: Precision Medicine Software Market Size, by End User, 2017-2027 ($Million)
Table 37 France: Precision Medicine Software Market Size, by Delivery Mode, 2017-2027 ($Million)
Table 38 France: Precision Medicine Software Market Size, by Application, 2017-2027 ($Million)
Table 39 France: Precision Medicine Software Market Size, by End User, 2017-2027 ($Million)
Table 40 U.K.: Precision Medicine Software Market Size, by Delivery Mode, 2017-2027 ($Million)
Table 41 U.K.: Precision Medicine Software Market Size, by Application, 2017-2027 ($Million)
Table 42 U.K.: Precision Medicine Software Market Size, by End User, 2017-2027 ($Million)
Table 43 Italy: Precision Medicine Software Market Size, by Delivery Mode, 2017-2027 ($Million)
Table 44 Italy: Precision Medicine Software Market Size, by Application, 2017-2027 ($Million)
Table 45 Italy: Precision Medicine Software Market Size, by End User, 2017-2027 ($Million)
Table 46 Spain: Precision Medicine Software Market Size, by Delivery Mode, 2017-2027 ($Million)
Table 47 Spain: Precision Medicine Software Market Size, by Application, 2017-2027 ($Million)
Table 48 Spain: Precision Medicine Software Market Size, by End User, 2017-2027 ($Million)
Table 49 Rest of Europe: Precision Medicine Software Market Size, by Delivery Mode, 2017-2027 ($Million)
Table 50 Rest of Europe: Precision Medicine Software Market Size, by Application, 2017-2027 ($Million)
Table 51 Rest of Europe: Precision Medicine Software Market Size, by End User, 2017-2027 ($Million)
Table 52 Asia-Pacific: Precision Medicine Software Market Size, by Country, 2017-2027 ($ Million)
Table 53 Asia-Pacific: Precision Medicine Software Market Size, by Delivery Mode, 2017-2027 ($ Million)
Table 54 Asia-Pacific: Precision Medicine Software Market Size, by Application, 2017-2027 ($ Million)
Table 55 Asia-Pacific: Precision Medicine Software Market Size, by End User, 2017-2027 ($ Million)
Table 56 Japan: Precision Medicine Software Market Size, by Delivery Mode, 2017-2027 ($ Million)
Table 57 Japan: Precision Medicine Software Market Size, by Application, 2017-2027 ($ Million)
Table 58 Japan: Precision Medicine Software Market Size, by End User, 2017-2027 ($ Million)
Table 59 China: Precision Medicine Software Market Size, by Delivery Mode, 2017-2027 ($ Million)
Table 60 China: Precision Medicine Software Market Size, by Application, 2017-2027 ($ Million)
Table 61 China: Precision Medicine Software Market Size, by End User, 2017-2027 ($ Million)
Table 62 India: Precision Medicine Software Market Size, by Delivery Mode, 2017-2027 ($ Million)
Table 63 India: Precision Medicine Software Market Size, by Application, 2017-2027 ($ Million)
Table 64 India: Precision Medicine Software Market Size, by End User, 2017-2027 ($ Million)
Table 65 Rest of Asia-Pacific: Precision Medicine Software Market Size, by Delivery Mode, 2017-2027 ($ Million)
Table 66 Rest of Asia-Pacific: Precision Medicine Software Market Size, by Application, 2017-2027 ($ Million)
Table 67 Rest of Asia-Pacific: Precision Medicine Software Market Size, by End User, 2017-2027 ($ Million)
Table 68 Latin America: Precision Medicine Software Market Size, by Delivery Mode, 2017-2027 ($ Million)
Table 69 Latin America: Precision Medicine Software Market Size, by Application, 2017-2027 ($ Million)
Table 70 Latin America: Precision Medicine Software Market Size, by End User, 2017-2027 ($ Million)
Table 71 Middle East and Africa: Precision Medicine Software Market Size, by Delivery Mode, 2017-2027 ($ Million)
Table 72 Middle East and Africa: Precision Medicine Software Market Size, by Application, 2017-2027 ($ Million)
Table 73 Middle East and Africa: Precision Medicine Software Market Size, by End User, 2017-2027 ($ Million)
Table 74 Recent Developments, by Company, 2016-2020 

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, by Delivery Mode, 2019 Vs. 2027 ($Million)
Figure 8 Global Precision Medicine Software Market Size, by Application, 2019 Vs. 2027 ($Million)
Figure 9 Healthcare Providers to Dominate the Precision Medicine Software Market, by End User (2019-2027)
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 ($Million)
Figure 14 Global Precision Medicine Software Market Size, by Delivery Mode 2019-2027 ($Million)
Figure 15 Global Precision Medicine Software Market Size, by Application, 2019-2027 ($Million)
Figure 16 Global Precision Medicine Software Market Size, by End User, 2019-2027 ($Million)
Figure 17 Global Precision Medicine Software Market Size, by Geography, 2019-2027 ($Million)
Figure 18 North America: Precision Medicine Software Market
Figure 19 North America: Precision Medicine Software Market Size, by Country, 2019-2027 ($Million)
Figure 20 Estimated Cancer Incidence in the U.S., 2000-2030 (Number of Cases)
Figure 21 Mortality from Cancer in the U.S., 2010-2030 (Number of Cases)
Figure 22 Share of Personalized Medicine in the Total Drugs Approved by FDA, 2014-2018 (%)
Figure 23] Europe: Precision Medicine Software Market Size, by Country, 2019-2027 ($Million)
Figure 24 Europe: Precision Medicine Software Market Size, by Country, 2019-2027 ($ Million)
Figure 25 Asia-Pacific: Precision Medicine Software Market
Figure 26 Asia Pacific: Precision Medicine Software Market Size, by Country, 2019 Vs 2027
Figure 27 Key Growth Strategies Adopted by Leading Players, 2016-2020
Figure 28 Precision Medicine Software Market: Competitive Benchmarking, by Application
Figure 29 Allscripts Healthcare Solutions Inc: Financial Overview (2019)
Figure 30 Qiagen N.V.: Financial Overview (2019)
Figure 31 Roper Technologies, Inc.: Financial Overview (2019)

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The precision medicine software market is expected to grow at a CAGR of 11.8% from 2019 to 2027 to reach $2.8 billion by 2027. Precision medicine software comprises of on-premise and web & cloud-based delivery platforms used in the personalized treatment and detection of diseases, such as cancers, genetic disorders, cardiac & infectious diseases, and others. Precision medicine software assists physicians in choosing a treatment method based on the patient’s genetic makeup and lifestyle habits. The factors such as 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 expected to propel the global precision medicine software market. However, the lack of awareness about advanced diagnostic capabilities and fragmented healthcare systems in developing countries hinders the growth of this market.

Rising pressure to decrease healthcare costs is propelling the growth of the precision medicine software market

The growing focus from "one-size-fits-all" to stratified and outcome-based targeted therapies is changing the model towards value-based reimbursement and healthcare digitization. As per the data from the Nature Journal, around 90% of conventional and top-selling drugs only benefit around 30-50% of patients. Moreover, the side effects and adverse reactions account for around 30% of acute hospital admissions every year. Thus, in order to reduce these inefficiencies, health authorities are introducing transparency measures around drug pricing and deploying sophisticated outcome-based compensation models for consumer-centric targeted therapies.

There is a growing pressure on pharmaceutical companies to review their traditional blockbuster business models and consider further strategies, such as the use of precision medicine to augment their current areas of focus and open up new revenue streams. Precision medicine involving multi-level patient stratification is expected to optimize the cost, time, and success rate of pharma clinical trials by co-developing drug medical prescription (Rx) and diagnostics (Dx) for future targeted therapies. As per the data from the Harvard Business Review Magazine, the reduction of unwarranted variations in medical care can decline the cost of patient management by at least 35%. Precision medicine can help in curbing this cost, which, in turn, will expand the need for software that will give precise outcomes.

Many leading pharma/biopharma companies have nearly doubled their investment in personalized medicines in the last five years in order to decrease the cost. For instance, in 2017, the Precision Medicine Group (U.S.) raised its venture capital funding of about $275 million to accelerate the development, approval, and commercialization of precision medicine. Moreover, in 2016, Syapse (U.S.) raised $30 million for helping researchers and doctors to manage patients’ genetic information. In 2017, Illumina Ventures (U.S.) announced that it had raised a fund of $230 million to invest in genomics and precision medicine deals. With increasing investments, the demand for precision medicine software is also expected to expand further in the coming years.

Lack of awareness about precision medicine practices

In developing countries, lack of awareness about precision medicine practices is mainly due to the lack of universal healthcare coverage, which leads to the unwillingness of people towards using advanced treatments. Apart from this, financial constraint remains as one of the main factors in attaining and maintaining precision medicine treatments.

Moreover, there has been no data available about campaigns for creating awareness about advanced diagnostic technologies. These technologies help in specific detection of biomarkers by understanding individualized medical conditions, which helps in the adoption of precision medicine. However, limited availability of evidence for clinical utility; lack of awareness among providers, researchers, and patients; limited access & lack of reimbursement to genetic testing; need for real-time, point-of-care integration of test results with EHRs and clinical decision support (CDS) tools; and cybersecurity framework concerns are some of the key factors negatively affecting the growth of this market in developing countries.

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 Key findings of the global precision medicine software market study:

On-premise segment to dominate the precision medicine software market

The on-premise segment commanded the largest share of the precision medicine software market in 2019, mainly due to broad range of advantages associated with the use of on-premise delivery mode, 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 contribute to the largest share of this segment.

Pharmacogenomics segment to grow at the fastest CAGR during the forecast period

The pharmacogenomics segment is expected to witness rapid growth during the forecast period. The factors such as increasing incidence of adverse drug reaction, growing focus on genomic-based study, shift from one-size-fits-all approach to personalized approach, and rising pressure on pharmaceutical companies to develop new drugs promote the fastest growth of this segment.

Asia Pacific: The fastest growing market

At regional level, precision medicine software market is dominated by the North America in 2019, while, Asia Pacific region is expected to grow at the fastest CAGR during the forecast period. The factors driving the growth of precision medicine software market in  this region include growing shift in treatment from one-size-fits-all medicines to precision medicine, significant strides in genomics research & technology, increased spending on healthcare, rising funds for research activities, and growing focus of international players to expand their presence in this region.

Key Players

The report includes competitive landscape based on extensive assessment of the product portfolio offering, geographic presence, and key strategic developments adopted by leading market players in the industry over the past 5 years (2016-2020). The key players profiled in the global precision medicine software market are Syapse, Inc. (U.S.), Fabric Genomics, Inc. (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.), Gene42 Inc. (Canada), PierianDx (U.S.), Foundation Medicine, Inc. (U.S.), and 2bPrecise (U.S.).

Scope of the Report:

 Market by Delivery Mode

  • On-premise
  • Web & Cloud-based

Market by Application

  • Oncology
  • Pharmacogenomics
  • Other Applications

Market by End User

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

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:

Precision medicine software market comprises of on-premise and web & cloud-based delivery platforms used in the personalized treatment and detection of diseases, such as cancers, genetic disorders, cardiac & infectious diseases, and others. Precision medicine software assists physicians in choosing a treatment method based on the patient’s genetic makeup and lifestyle habits
The global precision medicine market is projected to reach $2.8 billion by 2027, at a CAGR of 11.8% during the forecast period of 2019-2027
Healthcare providers are the prominent end users of the precision medicine software market and accounted for the largest share in 2019. This segment is also projected to register the fastest growth during the forecast period.
Based on applications, pharmacogenomics segment is expected to witness the fastest growth during the forecast period.
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 driving the growth of this market.
Lack of awareness about precision medicine practices and fragmented healthcare systems in developing countries are some of the major restraints for this market.
Emerging economies and AI in precision medicine are the major opportunities in this market.
Syapse, Inc. (U.S.), Fabric Genomics, Inc. (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.), Gene42 Inc. (Canada), PierianDx (U.S.), Foundation Medicine, Inc. (U.S.), and 2bPrecise (U.S.) are some of the major players operating in the global precision medicine software market.
China, India, and Latin American countries are the high growth markets.
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