The newly report says Precision medicine software market growing at 11.5% CAGR and projected to reach US$ 2.0 billion by 2024 from US$ 1.2 billion in 2019. Factors like rising government funding in precision medicine initiatives, partnerships among pharmaceutical and software companies, entry of new players & VC funding, & growth in number of cancer patients are driving growth of precision medicine software market.u
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Precision medicine software market study by healthcare providers for screening prenatal aneuploidy, evaluating rare disorders, diagnosing infectious diseases, and identifying therapeutic targets in neoplasms. The precision medicine software market is segmented into on-premise and cloud-based delivery model. In 2018, the on-premise delivery mode segment accounted for the largest share of the precision medicine software market.
Precision Medicine Software Market Overview by Oncology and Pharmacogenomics Rear Excessive Growth Estimated by Key Top Players Like PierianDx, Inc. (US), N-of-One, Inc. (US), Human Longevity, Inc. (US), Translational Software, Inc. (US), Sunquest Information Systems Inc. (US) to 2024. The large share of this segment is primarily due to the wide range of advantages associated with the use of on-premise delivery models.
Report studies the precision medicine software market based on delivery mode, end user, application, and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth. It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. These models allow end users to use solutions from multiple vendors and allow buyers to decide when to implement a software upgrade.
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The major players in the market include 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).
- Syapse is one of leading players in the precision medicine software market. The company adopted various inorganic and organic growth strategies such as product launches, acquisitions, collaborations, and expansions to maintain and enhance its market share.
- In the past three years, Syapse partnered with various healthcare organizations in the US, some of which include the Medidata, Roche Pharmaceuticals, Aurora Cancer Care, and Catholic Health Initiatives (CHI) among others to expand its end-user base and develop innovative solutions.
- Syapse also opened a new office in Philadelphia (US) to reach out to more healthcare providers in different parts of the US. The company has a strategic focus on expansions in high-growth emerging markets, such as Asia and the Middle East.
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Precision medicine software market report focuses on various levels of analysis – industry trends, the market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, emerging segments of the precision medicine software market, and high-growth regions and their drivers, restraints, challenges, and opportunities.
Key benefits of buying the report
Geographically, precision medicine software market is segmented into North America, Europe, Asia, and the Rest of the World. North American market is expected to grow at highest rate during forecast period. Growth in this region can be attributed to growing investments and favorable initiatives for implementation of precision medicine software. Several major global players are based in US, owing to which US has become a center for innovation in the precision medicine software market.
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