Market Overview:
The global precision medicine software market is expected to grow at a CAGR of 16.5% during the forecast period from 2018 to 2030. The growth of this market can be attributed to the increasing demand for precision medicine software from healthcare providers, pharmaceutical and biotechnology companies, research centers and government institutes, and others. Additionally, the growing adoption of cloud-based precision medicine software is also contributing to the growth of this market. However, lack of awareness about precision medicine software among end users is restraining the growth of this market.
Product Definition:
Precision medicine software is used to manage and track patients' medical data. It can help identify patterns in the data that may lead to better diagnoses and treatments. Precision medicine software is important because it can help doctors personalize treatment plans for each patient.
Cloud-based:
Cloud-based software is a type of information technology (IT) that provides shared computer resources over the internet. It is an emerging model of computing wherein data and applications are stored remotely on cloud servers for easy access and deployment. Cloud-based solutions offer benefits such as increased efficiency, cost savings, flexibility, scalability & reliability along with less operational manpower required by the organization which in turn helps to reduce overall IT costs.
On-premise:
On-premise software is a type of data management software that is installed and used on the end user's own computers or servers. The end users can manage their data themselves without any help from third-party vendors. On-premise software solutions are generally used for large scale biopharmaceutical companies to store and manage large volumes of clinical trial data, regulatory information, manufacturing information, etc.
Application Insights:
The healthcare providers segment accounted for the largest revenue share in 2016 and is anticipated to continue its dominance over the forecast period. This can be attributed to increasing demand from hospitals, clinics, and other medical facilities for managing patient information. The pharmaceutical and biotechnology companies are also expected to witness lucrative growth during this period due to growing investments in R&D activities related precision medicines.
The research centers and government institutes are estimated to register notable growth over the forecast period owing their initiatives such as Genome Canada, Australian Genomic Research Institute (AGRI), 1000 genomes project of Illumina, etc. These research centers focus on developing low cost diagnostic tests by focusing on population studies that help identify genetic patterns associated with diseases so that preventive measures can be taken early enough before a disease develops fully or progresses too far along in its course of development.
Regional Analysis:
North America dominated the global market in 2017. This can be attributed to the presence of a large number of players, increasing investments in R&D, and high adoption rate of advanced technologies. Moreover, growing focus on precision medicine research by government organizations and funding agencies is expected to drive growth over the forecast period. For instance, National Institutes of Health (NIH) has funded more than 1,200 projects related to Precision Medicine since 2011 which covered a wide range from clinical trials through genomic studies aimed at developing new therapies for disease diagnosis and treatment selection.
Asia Pacific regional market is anticipated to witness lucrative growth during the forecast period owing to rising healthcare expenditure by governments as well as private sectors coupled with increasing awareness about early diagnosis among patients resulting in high demand for Payers’ services resulting in an increase in revenue generation opportunities for providers operating within this region thereby driving its overall development over time.
Growth Factors:
- Increasing demand for personalized medicines
- Rising prevalence of chronic diseases
- Technological advancements in precision medicine software platforms
- Growing number of clinical trials for precision medicines
- Rising investments in precision medicine research
Scope Of The Report
Report Attributes
Report Details
Report Title
Precision Medicine Software Market Research Report
By Type
Cloud-based, On-premise
By Application
Healthcare Providers, Pharmaceutical and Biotechnology Companies, Research Centers and Government Institutes, Others
By Companies
Syapse, Allscripts, Qiagen, Roper Technologies, Fabric Genomics, Foundation Medicine, Sophia Genetics, PierianDx, Human Longevity, Translational Software, Gene42, Inc, Lifeomic Health
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
208
Number of Tables & Figures
146
Customization Available
Yes, the report can be customized as per your need.
Global Precision Medicine Software Market Report Segments:
The global Precision Medicine Software market is segmented on the basis of:
Types
Cloud-based, On-premise
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Healthcare Providers, Pharmaceutical and Biotechnology Companies, Research Centers and Government Institutes, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Syapse
- Allscripts
- Qiagen
- Roper Technologies
- Fabric Genomics
- Foundation Medicine
- Sophia Genetics
- PierianDx
- Human Longevity
- Translational Software
- Gene42, Inc
- Lifeomic Health
Highlights of The Precision Medicine Software Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Cloud-based
- On-premise
- By Application:
- Healthcare Providers
- Pharmaceutical and Biotechnology Companies
- Research Centers and Government Institutes
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Precision Medicine Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Precision Medicine Software is a software application that helps healthcare providers identify and treat individual patients with the most appropriate treatments. It uses data from multiple sources, including patient medical records, to make recommendations for treatment.
Some of the key players operating in the precision medicine software market are Syapse, Allscripts, Qiagen, Roper Technologies, Fabric Genomics, Foundation Medicine, Sophia Genetics, PierianDx, Human Longevity, Translational Software, Gene42, Inc, Lifeomic Health.
The precision medicine software market is expected to grow at a compound annual growth rate of 16.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Precision Medicine Software Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Precision Medicine Software Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Precision Medicine Software Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Precision Medicine Software Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Precision Medicine Software Market Size & Forecast, 2018-2028
4.5.1 Precision Medicine Software Market Size and Y-o-Y Growth
4.5.2 Precision Medicine Software Market Absolute $ Opportunity
Chapter 5 Global Precision Medicine Software Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Precision Medicine Software Market Size Forecast by Type
5.2.1 Cloud-based
5.2.2 On-premise
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Precision Medicine Software Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Precision Medicine Software Market Size Forecast by Applications
6.2.1 Healthcare Providers
6.2.2 Pharmaceutical and Biotechnology Companies
6.2.3 Research Centers and Government Institutes
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Precision Medicine Software Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Precision Medicine Software Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Precision Medicine Software Analysis and Forecast
9.1 Introduction
9.2 North America Precision Medicine Software Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Precision Medicine Software Market Size Forecast by Type
9.6.1 Cloud-based
9.6.2 On-premise
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Precision Medicine Software Market Size Forecast by Applications
9.10.1 Healthcare Providers
9.10.2 Pharmaceutical and Biotechnology Companies
9.10.3 Research Centers and Government Institutes
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Precision Medicine Software Analysis and Forecast
10.1 Introduction
10.2 Europe Precision Medicine Software Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Precision Medicine Software Market Size Forecast by Type
10.6.1 Cloud-based
10.6.2 On-premise
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Precision Medicine Software Market Size Forecast by Applications
10.10.1 Healthcare Providers
10.10.2 Pharmaceutical and Biotechnology Companies
10.10.3 Research Centers and Government Institutes
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Precision Medicine Software Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Precision Medicine Software Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Precision Medicine Software Market Size Forecast by Type
11.6.1 Cloud-based
11.6.2 On-premise
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Precision Medicine Software Market Size Forecast by Applications
11.10.1 Healthcare Providers
11.10.2 Pharmaceutical and Biotechnology Companies
11.10.3 Research Centers and Government Institutes
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Precision Medicine Software Analysis and Forecast
12.1 Introduction
12.2 Latin America Precision Medicine Software Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Precision Medicine Software Market Size Forecast by Type
12.6.1 Cloud-based
12.6.2 On-premise
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Precision Medicine Software Market Size Forecast by Applications
12.10.1 Healthcare Providers
12.10.2 Pharmaceutical and Biotechnology Companies
12.10.3 Research Centers and Government Institutes
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Precision Medicine Software Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Precision Medicine Software Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Precision Medicine Software Market Size Forecast by Type
13.6.1 Cloud-based
13.6.2 On-premise
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Precision Medicine Software Market Size Forecast by Applications
13.10.1 Healthcare Providers
13.10.2 Pharmaceutical and Biotechnology Companies
13.10.3 Research Centers and Government Institutes
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Precision Medicine Software Market: Competitive Dashboard
14.2 Global Precision Medicine Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Syapse
14.3.2 Allscripts
14.3.3 Qiagen
14.3.4 Roper Technologies
14.3.5 Fabric Genomics
14.3.6 Foundation Medicine
14.3.7 Sophia Genetics
14.3.8 PierianDx
14.3.9 Human Longevity
14.3.10 Translational Software
14.3.11 Gene42, Inc
14.3.12 Lifeomic Health
