Precision Medicine Software Market: Meticulous Research Reveals Why This Market is Growing at a CAGR of 11.2% to Reach $2.55 Billion by 2028 – Digital…

Precision medicine software comprises on-premise and web & cloud-based deployment platforms used in the personalized treatment and detection of diseases, such as cancers, genetic disorders, cardiac & infectious diseases, and others. Precision medicine software assists physicians in choosing a treatment method based on the patients genetic makeup and lifestyle habits.

In efforts to reduce the healthcare burden, manufacturers have started developing platforms that increase accuracy & decrease the time taken for entire medical treatment. Meticulous Research, in its latest publication on Precision Medicine Software Market, states that the global precision medicine software market is expected to grow at a CAGR of 11.2% from 2021 to 2028 to reach $2.55 million by 2028.

The paradigm shift in treatment, rising pressure to decrease healthcare costs, scientific & technological advances in the genomics field, and growing focus towards providing companion diagnostics & biomarkers for various therapeutic areas are some of the major factors expected to drive the growth of this market. However, the lack of awareness about precision medicine practices and fragmented healthcare systems in developing countries hinder the growth of this market to a certain extent.

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To provide efficient analysis, Meticulous Research has segmented this market by deployment mode (on-premise and web & cloud-based), application (oncology, pharmacogenomics, and other applications), end user (healthcare providers, research & government institutes, and pharmaceutical & biotechnology companies), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).

Geographically, North America commanded the largest share of the global precision medicine software market in 2020, followed by Europe and Asia-Pacific. The Asia-Pacific region is expected to register the highest growth during the forecast period. The growing shift in treatment from one-size-fits-all medicines to precision medicine, increased spending on healthcare, rising funds for research activities, and growing focus of international players to expand their presence in this region are some of the key factors expected to propel the growth of the precision medicines software market in Asia-Pacific.

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Based on deployment mode, the global precision medicine software market is categorized into on-premise and web & cloud-based. In 2021, the on-premise segment accounted for the largest share of the global precision medicine software market. The large share of this segment is primarily attributed to the broad range of advantages associated with the use of on-premise software, such as high security of data, low risk of data breaches, and full command over software upgrades & data storage.

Based on application, the precision medicine software market is segmented into oncology, pharmacogenomics, central nervous system disorders, hereditary disorders, and cardio & metabolic disorders. In 2020, the oncology segment accounted for the largest share of the global precision medicine software market. The large share of this segment is primarily attributed to the growing prevalence of cancer, shift towards personalized treatment, rising funding in cancer research, applications of precision medicine in oncology research, and increased investments by government organizations in precision medicine and related software industry.

Based on end user, the global precision medicine software market is categorized into healthcare providers, research and government institutes, and pharmaceutical & biotechnology companies. In 2020, the healthcare providers segment accounted for the largest share of the global precision medicine software market. The large share of this segment is primarily attributed to the rising number of tertiary/specialty care hospitals, rising incidence of chronic diseases, growing healthcare infrastructure, increasing demand for quality healthcare, and shift towards personalized/precision medicine.

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The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players in this market, including Syapse, Inc. (U.S.), Fabric Genomics, Inc. (U.S.), SOPHiA GENETICS SA (Switzerland), GenomOncology LLC (U.S.), Human Longevity, Inc. (U.S.), Sunquest Information Systems Inc. (U.S.), LifeOmic Health, LLC (U.S.), Translational Software Inc. (U.S.), N-of-One (U.S.), PhenoTips (Canada), PierianDx (U.S.), Foundation Medicine, Inc. (U.S.), and 2bPrecise (U.S.).

Contact:Mr.Khushal BombeMeticulous Market Research Inc.1267WillisSt,Ste200 Redding,California,96001, U.S.USA: +1-646-781-8004Europe : +44-203-868-8738APAC: +91 744-7780008Email-[emailprotected]Visit Our Website:https://www.meticulousresearch.com/Connect with us on LinkedIn-https://www.linkedin.com/company/meticulous-research

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Precision Medicine Software Market: Meticulous Research Reveals Why This Market is Growing at a CAGR of 11.2% to Reach $2.55 Billion by 2028 - Digital...