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Global Precision Oncology Market Size, Growth, Price, Forecast: By Service Type: Diagnostics, Therapeutics, Others; By Cancer Type: Breast Cancer, Cervical Cancer, Prostate Cancer, Lung Cancer; By End User: Hospitals, Specialty Clinic, Pharmaceutical and Biotechnology Companies, Others; Regional Analysis; Supplier Landscape; 2024-2032
Global Precision Oncology Market Outlook
The global precision oncology market size was valued at USD 107.82 billion in 2023, driven by the increasing recognition as a reliable treatment for cancer across the globe. The market size is anticipated to grow at a CAGR of 9.80% during the forecast period of 2024-2032 to achieve a value of USD 250.11 billion by 2032.
Precision Oncology: Introduction
Precision oncology is also known as personalized oncology. It is a rapidly advancing and innovating industry that focuses on generating personalized cancer treatment strategies depending upon a patient's unique genetic profile. Advanced techniques to diagnose the tumour or cancer are used, as genomic sequencing and molecular profiling. All these approaches help in the selection of techniques and therapies which could perform effectively for the patient. It recognizes that cancer is a complex and heterogeneous disease, and each patient's cancer may be different in nature and have unique molecular alterations.
By utilizing advanced technologies, such as genomic sequencing, proteomics, and molecular profiling, precision oncology enables the identification of that drive tumor growth and progression. With the help of advanced technologies such as genetic mutations, alterations, and biomarkers, the tumor growth could be identified and treated on time.
Global Precision Oncology Market Analysis
Precision oncology is the process in which profiling of tumour or cancer is done on the molecular level to recognize the abnormalities that can be targeted. Precision oncology is rapidly growing and has also entered the mainstream clinical approaches. Genomic testing involves several levels on which coordinated practices are performed in order to achieve high quality results out of high-quality tissue samples so that a suitable treatment can be generated for the patient.
There are several key trends aiding the global precision oncology market growth and some of them include the rapid advancements in genomic technologies, increasing availability of targeted therapies, integration of AI and machine learning to analyze and process large amount of genomic and clinical data, circulating tumour DNA and liquid biopsies, integration with clinical approaches. There is an increasing focus on the development of companion diagnostics and biomarker-driven therapies.
The increase in collaborations and partnerships are emerging as a prominent trend in precision oncology market expansion. Pharmaceutical companies, diagnostic companies, research institutions, and healthcare providers are making strategic tie-ups to accumulate resources, expertise, and data. These collaborations will enhance the development and validation of precision oncology technologies, promote knowledge sharing, and drive the adoption of precision medicine approaches in routine clinical practice.
Global Precision Oncology Market Segmentations
Market Breakup by Service Type
- Diagnostics
- Therapeutics
- Others
Market Breakup by Cancer Type
- Breast Cancer
- Cervical Cancer
- Prostate Cancer
- Lung Cancer
Market Breakup by End User
- Hospitals
- Specialty Clinic
- Pharmaceutical and Biotechnology Companies
- Healthcare Data Companies
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Precision Oncology Market Overview
The market for precision oncology is witnessing an evident growth and is expected to keep growing in coming years as the industry is getting more familiar and has been advancing as a reliable treatment for cancer. This treatment provides an exclusive and intense care procedure for cancer patients by taking advantage of molecular information in order to prepare and instruct personalised treatments. Increasing prevalence of cancer across the globe has been driving the precision oncology market development as it is leading to the increasing demand for personalised and effective cancer treatments. As a challenge, the high cost of genomic profiling along with multiple other factors regarding high quality and robust evidence to support the efficacy of developed tailored therapies also stays in the market.
Precision Oncology Market: Competitor Landscape
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- Thermo Fisher Scientific Inc.
- Invitae Corporation
- Qiagen N.V.
- Illumina, Inc.
- Laboratory Corporation Of America Holding
- Exact Sciences Corporation
- Rain Oncology Inc
- Strata Oncology, Inc.
- Xilis, Inc.
- Variantyx, Inc.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Service Type |
|
| Breakup by Cancer Type |
|
| Breakup by End User |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Precision Oncology Market Overview
3.1 Global Precision Oncology Market Historical Value (2017-2023)
3.2 Global Precision Oncology Market Forecast Value (2024-2032)
4 Global Precision Oncology Market Landscape
4.1 Global Precision Oncology: Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Precision Oncology: Product Landscape
4.2.1 Analysis by Type
4.2.2 Analysis by Drug
4.2.3 Analysis by Indication
5 Global Precision Oncology Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Precision Oncology Market Segmentation
6.1 Global Precision Oncology Market by Service Type
6.1.1 Market Overview
6.1.2 Diagnostics
6.1.3 Therapeutics
6.1.4 Others
6.2 Global Precision Oncology Market by Cancer Type
6.2.1 Market Overview
6.2.2 Breast Cancer
6.2.3 Cervical Cancer
6.2.4 Prostate Cancer
6.2.5 Lung Cancer
6.3 Global Precision Oncology Market by End User
6.3.1 Market Overview
6.3.2 Hospitals
6.3.3 Specialty Clinic
6.3.4 Pharmaceutical and Biotechnology Companies
6.3.5 Healthcare Data Companies
6.3.6 Others
6.4 Global Precision Oncology Market by Region
6.4.1 Market Overview
6.4.2 North America
6.4.3 Europe
6.4.4 Asia Pacific
6.4.5 Latin America
6.4.6 Middle East and Africa
7 North America Precision Oncology
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Precision Oncology Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Precision Oncology Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Precision Oncology Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Precision Oncology Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Regulatory Framework
12.1 Regulatory Overview
12.1.1 US FDA
12.1.2 EU EMA
12.1.3 INDIA CDSCO
12.1.4 JAPAN PMDA
12.1.5 Others
13 Patent Analysis
13.1 Analysis by Type of Patent
13.2 Analysis by Publication year
13.3 Analysis by Issuing Authority
13.4 Analysis by Patent Age
13.5 Analysis by CPC Analysis
13.6 Analysis by Patent Valuation
13.7 Analysis by Key Players
14 Grants Analysis
14.1 Analysis by year
14.2 Analysis by Amount Awarded
14.3 Analysis by Issuing Authority
14.4 Analysis by Grant Application
14.5 Analysis by Funding Institute
14.6 Analysis by NIH Departments
14.7 Analysis by Recipient Organization
15 Clinical Trials Analysis
15.1 Analysis by Trial Registration Year
15.2 Analysis by Trial Status
15.3 Analysis by Trial Phase
15.4 Analysis by Therapeutic Area
15.5 Analysis by Geography
16 Funding and Investment Analysis
16.1 Analysis by Funding Instances
16.2 Analysis by Type of Funding
16.3 Analysis by Funding Amount
16.4 Analysis by Leading Players
16.5 Analysis by Leading Investors
16.6 Analysis by Geography
17 Partnership and Collaborations Analysis
17.1 Analysis by Partnership Instances
17.2 Analysis by Type of Partnership
17.3 Analysis by Leading Players
17.4 Analysis by Geography
18 Supplier Landscape
18.1 Thermo Fisher Scientific Inc.
18.1.1 Financial Analysis
18.1.2 Product Portfolio
18.1.3 Demographic Reach and Achievements
18.1.4 Mergers and Acquisitions
18.1.5 Certifications
18.2 Invitae Corporation
18.2.1 Financial Analysis
18.2.2 Product Portfolio
18.2.3 Demographic Reach and Achievements
18.2.4 Mergers and Acquisitions
18.2.5 Certifications
18.3 Qiagen N.V.
18.3.1 Financial Analysis
18.3.2 Product Portfolio
18.3.3 Demographic Reach and Achievements
18.3.4 Mergers and Acquisitions
18.3.5 Certifications
18.4 Illumina, Inc.
18.4.1 Financial Analysis
18.4.2 Product Portfolio
18.4.3 Demographic Reach and Achievements
18.4.4 Mergers and Acquisitions
18.4.5 Certifications
18.5 Laboratory Corporation Of America Holding
18.5.1 Financial Analysis
18.5.2 Product Portfolio
18.5.3 Demographic Reach and Achievements
18.5.4 Mergers and Acquisitions
18.5.5 Certifications
18.6 Exact Sciences Corporation
18.6.1 Financial Analysis
18.6.2 Product Portfolio
18.6.3 Demographic Reach and Achievements
18.6.4 Mergers and Acquisitions
18.6.5 Certifications
18.7 Rain Oncology Inc
18.7.1 Financial Analysis
18.7.2 Product Portfolio
18.7.3 Demographic Reach and Achievements
18.7.4 Mergers and Acquisitions
18.7.5 Certifications
18.8 Strata Oncology, Inc.
18.8.1 Financial Analysis
18.8.2 Product Portfolio
18.8.3 Demographic Reach and Achievements
18.8.4 Mergers and Acquisitions
18.8.5 Certifications
18.9 Xilis, Inc.
18.9.1 Financial Analysis
18.9.2 Product Portfolio
18.9.3 Demographic Reach and Achievements
18.9.4 Mergers and Acquisitions
18.9.5 Certifications
18.10 Variantyx, Inc.
18.10.1 Financial Analysis
18.10.2 Product Portfolio
18.10.3 Demographic Reach and Achievements
18.10.4 Mergers and Acquisitions
18.10.5 Certifications
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
The market attained a value of about USD 107.82 billion in 2023, driven by the increasing awareness about precision oncology.
The global precision oncology market size is anticipated to grow at a CAGR of 9.80% during the forecast period of 2024-2032, and likely to reach a market value of USD 250.11 billion by 2032.
The rising recognition as a reliable treatment for cancer and advancement in the techniques and approaches of genomic testing worldwide are the major factors driving the market growth.
The service types can be divided into diagnostics and therapeutics, among others.
The cancer types include breast cancer, cervical cancer, prostate cancer, and lung cancer.
The end-users include hospitals, specialty clinic, pharmaceutical and biotechnology companies, and healthcare data companies, among others.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America is currently leading the global market.
Key players involved in the market are Thermo Fisher Scientific Inc., Invitae Corporation, Qiagen N.V., Illumina, Inc., Laboratory Corporation Of America Holding, Exact Sciences Corporation, Rain Oncology Inc, Strata Oncology, Inc., Xilis, Inc., and Variantyx, Inc.
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