Press release
Precision Medicine Software Market Emerging Trends, Opportunity, Industry Overview And Growth Analysis Forecast To 2025
In July 2019, Syapse, a US developer of cloud-based data medical software, strategically collaborated with Pfizer to advance cancer outcomes research by generating insights from real-world evidence. In May 2019, Syapse formed a precision medicine collaboration with Amgen, a US-based multinational biopharmaceutical company.
Rising Incidence of Cancer to Increase Need for Precision Medicine Software
Growing requirement of precision medicine for cancer treatment is prophesied to largely contribute to the growth of the global precision medicine software market. Besides high prevalence of cancer, other factors such as growing number of collaborations and partnerships between healthcare IT companies and healthcare institutions could increase the need for precision medicine software. One of the crucial factors augmenting the demand for precision medicine software is the need to predict long-term prognosis and measure patient outcome. High use of precision medicine software to identify therapeutic targets in neoplasms is expected to push the demand in the global market.
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Vendors to Partner with Health Systems to Make Precision Medicine More Accessible
The report includes company profiling of important players of the global precision medicine software market such as Syapse, Inc., Fabric Genomics, Inc., Translational Software Inc., SOPHiA GENETICS SA, N-of-One Inc. (a subsidiary of Qiagen N.V.), Human Longevity, Inc., Gene42 Inc., Sunquest Information Systems, Inc., PierianDx Inc., LifeOmic, Foundation Medicine Inc., and 2bPrecise LLC. Players could look to penetrate into profitable developing markets such as the MEA and Asia Pacific. Market observers also expect them to adopt inorganic and organic growth strategies to increase their presence in the global market.
In August 2019, Progknowse, a US precision medicine technology firm, partnered with St. Luke’s University Health Network, Riverside Health System, and LifeBridge Health in collaboration with American healthcare improvement company Premier. The partnership aims at developing predictive algorithms for actionable and precise therapeutic recommendations for personalizing and improving healthcare delivery.
By Delivery Mode
● Cloud-based
● On-premise
By Application
● Rare Diseases
● Oncology
● Pharmacogenomics
By End User
● Healthcare Providers
● Pharmaceutical and Biotechnology Companies
Analysts predict on-premise delivery mode to show excellent growth in the global precision medicine software market due to its various advantages. End users of on-premise delivery models can use products and services from different vendors. Among applications, oncology is foretold to secure a remarkable market share because of increasing use of precision medicine in oncology research and the growth in cancer research funding. Researchers expect healthcare providers to become a highly lucrative segment of the global market due to increased use of precision medicine software to examine rare disorders.
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