The advancement in healthcare is beneficial for patients, the pharmaceutical industry, and society.

New York, NY -- (SBWire) -- 04/29/2021 --Precision Oncology Market Size – USD 49.98 Billion in 2019, Market Growth - CAGR of 9.9%, Market Trends – Improvement and advancement in cancer biology.

The global Precision Oncology market is forecast to reach USD 99.72 Billion by 2027, according to a new report by Reports and Data. Precision oncology categories, recent advances in cancer care have been closely associated with genomic medicine. Knowing the genetic mutations of unique tumors holds the promise of giving practitioners a higher capacity to command specific prescriptions to fight specific tumors types. Although, only a few tumors and tumor types have been correlated with specific genetic mutations. In some forms of breast cancer, doctors instantly have years of expertise in genomic analysis to determine the most appropriate methods for their patients.

Physicians immediately can use DNA testing to look for the mutation of the gene; meanwhile, women with a family story of breast or ovarian cancer. Additionally, the combination of big data healthcare organizations with pharma & biotech corporations is likely to support market growth. On the other hand, the lack of awareness about the possible applications of precision medication and the compensation policies and regulatory framework is expected to hamper the market extension.

Europe held the significant share in the global precision medicine market and is extended to grow at a uniform growth rate during the forecast timeframe. The expanding use of certain diagnostic instruments, digital health records, and medicines prescribed, principally for illness, is anticipated to increase market construction. Furthermore, European businesses focus on fusions and acquisitions that are supposed to promote the industry's improvement.

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Leading Players Profiled in the Report Include:

Eagle Genomics, ASEBIO, Menarini Silicon Biosystems, NanoString Technologies, Inc. NeoGenomics, Novartis AG, Pfizer Inc., QIAGEN, Tepnel Pharma Services, Teva Pharmaceuticals Industries Ltd, among others.

The COVID-19 impact:

With the increase in the COVID-19 crisis, manufacturers are rapidly changing their practice & purchasing priorities to meet the demand of the pandemic. However, with an increase in investment in healthcare, the market will experience a rise in demand. The forecast of the market will offer in-depth insight into industry parameters by different factors of the market trends, and several price fluctuations.

Further key findings from the report suggest

The global Precision Oncology market accounted for USD 49.98 billion in 2019 and is expected to grow at a CAGR of 9.9% from 2019 to 2027.

The Application is anticipated to reach USD 22.33 billion by 2027 and is expected to grow at a high rate over the forecast period.

The End-user segment dominated the market in 2019, with an estimated USD 99.72 billion.

The Biotechnology companies are the largest segment and are estimated to generate revenue of over USD 43.08 billion by 2027.

Demand for Precision oncology in defense is anticipated to witness moderate growth over the forecast period.

North America is expected to be an active region over the forecast period. Numerous enterprises and several new players within and have been investing in advanced sensor manufacturing. The regional market is expected to exhibit a CAGR of 12.7% over the forecast period.

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For the purpose of this report, Reports and Data have segmented into the global Precision Oncology market on the basis of End-user, Technology Type, Application, and region:

End-user Outlook (Revenue, USD Billion; 2017-2027)

Pharmaceuticals Companies
Biotechnology Companies
Diagnostic Companies
Healthcare Data Companies

Technology Type Outlook (Revenue, USD Million; 2017-2027)

Big data Analytics
Bioinformatics
Gene Sequencing
Drug Discovery
Companies Diagnostics

Application Outlook (Revenue, USD Billion; 2017-2027)

Consumable
Instruments
Services

Regional Outlook (Revenue, USD Billion; 2017-2027)

North America
U.S
Canada
Europe
Germany
U.K
France
BENELUX
Rest of Europe
Asia Pacific
China
Japan
South Korea
Rest of APAC
MEA
Saudi Arabia
UAE
Rest of MEA
Latin America
Brazil
Rest of LATAM

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Table of contents            

Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2019-2027

Chapter 3. Indicative Metrics

Chapter 4. Precision Oncology Market Segmentation & Impact Analysis

    4.1. Precision Oncology Market Material Segmentation Analysis

    4.2. Industrial Outlook

          4.2.1. Market indicators analysis

          4.2.2. Market drivers analysis

                    4.2.2.1. Healthcare industry shift towards personalized medicines

                    4.2.2.2. An opportunity to introduce new scientific, medical and business model

                    4.2.2.3. Modernized trend in health care industry.

          4.2.3. Market restraints analysis

                    4.2.3.1. Reimbursement of channel and high cost of medicine

    4.3. Technological Insights

    4.4. Regulatory Framework

    4.5. ETOP Analysis

    4.6. Porter's Five Forces Analysis

    4.7. Competitive Metric Space Analysis

    4.8. Price trend Analysis

    4.9. Customer Mapping

    4.10. Covid-19 Impact Analysis

    4.11. Global Recession Influence

Continued……

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About Reports and Data                              

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.