Precision Oncology Market 2030: Advancing Targeted Therapies for Personalized Cancer Treatment

The market for precision oncology is expanding rapidly and has a lot of potential, mostly because of rising demand and awareness in the oncology sector. The genetic profiling of tumors to find modifiable changes is known as precision oncology. Many academics and businesspeople have shown a strong interest in the cancer market, which has aided in funding the development of genomic sequencing technologies like next-generation sequencing (NGS), which has greatly boosted the precision oncology sector. The United States dominates the precision oncology industry, accounting for almost 44% of the total. Asia Pacific is a market that is expanding, with an 11% annual CAGR. As a result, the precision oncology industry aids in patient diagnosis, therapy planning, and recovery.

Growth Drivers in Precision Oncology Market:

Global Rise in Cancer Prevalence: The increasing global prevalence of cancer has been a key driver for the precision oncology market.

Tailored Treatments: Precision oncology enables tailoring treatments based on the unique characteristics of individual tumors, leading to improved treatment outcomes.

Advancements in Technologies: Technologies such as immunotherapy and gene editing have shown progress, contributing positively to the precision oncology market.

Improved Understanding of Cancer Biology: The understanding of the biology and molecular mechanisms behind cancer has improved, allowing for the identification of specific genetic mutations and biomarkers targeted by precision oncology treatments.

Government Initiatives: Government organizations, such as the United States government through initiatives like the Cancer Moonshot and Precision Medicine Initiative, support the growth of precision oncology.

Examination and Advancement of the Precision Oncology Market:

Global Precision Oncology Market is worth USD 89.5 billion in 2022 and is estimated to grow at a CAGR of 9.9% in the forecasted period. The forecasted revenue hints at a growth of around 173.30 billion USD by 2029.

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Precision Oncology Market Extent

In order to provide insights into the long-term implications of the major drivers and constraints affecting the Precision Oncology industry, this study does a microanalysis of those factors. The report uses accurate visuals, clear and understandable language, and a combination of quantitative and qualitative data analysis.

The Precision Oncology market report's data analysis takes a thorough approach, including primary and secondary data gathering techniques. While secondary data includes government websites, yearly reports, and the financial reports of important companies in the market, primary data gathering entails conducting telephone interviews and in-person surveys to obtain a thorough picture of the industry.

Strategic tools for strategic planning and management, such as SWOT analysis, provide micro-scale analysis. The technological, social, legal, environmental, political, and economic effects on the Precision Oncology market are also clarified by PESTLE analysis.

In addition, the paper explores current industry trends and offers projections for the years to come.

Precision Oncology Market Classifications

by Products

Diagnostics
Therapeutics

Within the precision oncology market, the two main categories are diagnostics and therapies. The majority of the category is dominated by therapeutics. In the precision oncology market, therapies are favored over diagnostics due to their capacity to enhance patient outcomes and lower medical expenses. Additionally, medicines account for a bigger percentage since therapy can successfully save a person's life. There are several subfields within therapeutics, and each has a unique importance.

by Cancer Types

Breast Cancer
Lung Cancer
Cervical cancer
Colorectal Cancer
Prostate Cancer

Cancer Types: Breast cancer is the most common type, accounting for approximately 41% of the segment. Cervical cancer shows the highest CAGR, with colorectal cancer having the least market share.

by End User

Pharmaceutical & Biotechnology Companies
Diagnostic Centres
Healthcare Data Companies

End-User Segmentation: Diagnostics laboratories account for the largest market share (around 47%), followed by pharmaceutical companies and healthcare data companies.

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Precision Oncology Market Geographical Evaluation

Global Market: The US dominates the precision oncology market, holding nearly 44% of the market share. The global market has witnessed significant development, driven by technological advancements and research investments.

North America: North America, primarily the USA, has the highest market share due to advanced facilities, technologies, and a strong ecosystem. Canada and Mexico are emerging markets.

Asia Pacific: Asia Pacific, including China, Japan, and India, has shown substantial growth, with China having a significant market share. Increased population and patient numbers contribute to market growth.

Europe: Europe, with key countries like the UK, Germany, and Switzerland, is a traditional market with substantial technological progress and research investments.

Middle East and Africa: Middle East and Africa have a smaller market share, with a focus on developing research environments in countries like Saudi Arabia and the UAE.

South America: South America is an emerging market, with Brazil, Argentina, and other countries showing potential for growth.

The following companies are included in the market for Precision Oncology :

1. Illumina, Inc. (United States) 2. Thermo Fisher Scientific, Inc. (United States) 3. Agilent Technologies, Inc. (United States) 4. Invitae Corporation (United States) 5. NeoGenomics Laboratories, Inc. (United States) 6. Bristol Myers Squibb Company (United States) 7. Pfizer Inc. (United States) 8. Amgen Inc. (United States) 9. Merck & Co., Inc. (United States) 10.Eli Lilly and Company (United States) 11.Genomic Health, Inc. (United States) 12.Foundation Medicine, Inc. (United States) 13.Guardant Health, Inc. (United States) 14.Myriad Genetics, Inc. (United States) 15.Exact Sciences Corporation (United States) 16.NanoString Technologies, Inc. (United States) 17.Guardant Health, Inc. (United States) 18.F. Hoffmann-La Roche Ltd (Switzerland) 19.Bayer AG (Germany) 20.AstraZeneca plc (United Kingdom) 21.Novartis AG (Switzerland) 22.Roche Holding AG (Switzerland) 23.Qiagen N.V. (Netherlands) 24.Sysmex Corporation (Japan) 25.Dasa (Brazil)

List of Contents : Precision Oncology Market

Part 01: Executive Summary

Part 02: Scope of the Precision Oncology Market Report

Part 03: Precision Oncology Market Landscape

Part 04: Precision Oncology Market Sizing

Part 05: Precision Oncology Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Competitive Landscape:

The precision oncology market is characterized by both small and large companies. The US holds the highest market share, with top companies like Pfizer and Johnson & Johnson playing key roles. Europe and Asia Pacific have significant market growth, with companies like AstraZeneca, Merck, and Roche contributing to the competitive landscape. The market is dynamic, with emerging markets like India and Japan diversifying the industry. Overall, North America leads in market presence, while Asia Pacific exhibits the highest growth.

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