Dublin, May 27, 2019 (GLOBE NEWSWIRE) -- The "Precision Medicine Software Market by Delivery Mode (On-Premise & Cloud-Based), End User (Healthcare Providers, Research Centers & Government Institutes, Pharmaceutical & Biotechnology Companies), Application, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The precision medicine software market is projected to reach USD 2,030.3 million by 2024 from USD 1,178.2 million in 2019, at a CAGR of 11.5%.

Precision medicine software enables stakeholders in the healthcare sector to provide personalized treatment plans to patients based on their genetic content. It combines clinical and genetic data to deliver targeted patient care. It also provides a wide range of applications in both the diagnostic and clinical areas of care delivery.

Growth in the precision medicine software market is mainly driven by rising government funding in precision medicine initiatives, partnerships among pharmaceutical and software companies, the entry of new players and VC funding, and growth in the number of cancer patients.

Emerging countries, cloud-based solutions, and artificial intelligence in precision medicine are also expected to provide opportunities for growth for players in the market. On the other hand, the high cost of deployment, issues related to the secure storage of large volumes of sequenced data, lack of reimbursement for precision medicine-based treatments, and lack of skilled IT professionals in healthcare are expected to challenge market growth to a certain extent in the coming years.

In this report, the precision medicine software market is segmented based on delivery mode, application, end user, and region.

Some of the prominent players operating in the precision medicine software market include Syapse, Inc. (US), 2bPrecise LLC (Israel), Foundation Medicine, Inc. (US), Fabric Genomics (US), and SOPHiA GENETICS SA (Switzerland) among others.

These companies focus on organic and inorganic strategies such as product deployments, partnerships, collaborations, and new product launches, among others to gain a competitive edge in the market.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Government Funding in Precision Medicine Initiatives
5.2.1.2 Partnerships Among Pharmaceutical and Software Companies
5.2.1.3 Entry of New Players and Vc Funding
5.2.1.4 Growth in the Number of Cancer Patients
5.2.2 Restraints
5.2.2.1 High Cost of Deployment
5.2.3 Opportunities
5.2.3.1 Emerging Countries
5.2.3.2 Cloud-Based Solutions
5.2.3.3 Artificial Intelligence in Precision Medicine
5.2.4 Challenges
5.2.4.1 Secure Storage of Large Volumes of Sequenced Data
5.2.4.2 Lack of Reimbursement for Precision Medicine-Based Treatments
5.2.4.3 Lack of Skilled It Professionals in Healthcare

6 Precision Medicine Software Market, By Delivery Mode
6.1 Introduction
6.2 On-Premise Delivery Mode
6.2.1 Benefits Offered By the On-Premise Delivery Model and Limited Penetration of Cloud-Based Technologies to Drive Market Growth
6.3 Cloud-Based Delivery Mode
6.3.1 Open-Access Nature of Cloud-Based Models Poses Security Challenges

7 Precision Medicine Software Market, By End User
7.1 Introduction
7.2 Healthcare Providers
7.2.1 Precision Medicine is Used By Healthcare Providers to Determine Disease Susceptibility and Provide Personalized Treatments
7.3 Research Centers and Government Institutes
7.3.1 Increasing Funding for Research Will Drive the Usage and Adoption of Precision Medicine Software in This Segment
7.4 Pharmaceutical & Biotechnology Companies
7.4.1 Increasing Emphasis on Pharmacogenomics Due to Its Applications in Drug Development is to Drive Market Growth
7.5 Other End Users

8 Precision Medicine Software Market, By Application
8.1 Introduction
8.2 Oncology
8.2.1 Oncology Segment to Witness the Highest Growth in the Precision Medicine Software Market
8.3 Pharmacogenomics
8.3.1 Pharmacogenomics is A Potential Solution to Reduce Healthcare Costs Associated With Ades and Poor Response to Pharmacotherapy
8.4 Rare Diseases
8.4.1 Increasing Incidence of Rare Diseases to Drive Market Growth
8.5 Other Applications

9 Precision Medicine Software Market, By Region
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 Government Funding to Support Market Growth in the US
9.2.2 Canada
9.2.2.1 Rising Incidence of Cancer in Canada Will Drive the Demand for Precision Medicine Software
9.3 Europe
9.3.1 Eu5
9.3.1.1 Favorable Funding Scenario Will Support Market Growth in Eu5
9.3.2 Rest of Europe
9.4 Asia
9.4.1 Growing Research Investments in China, Japan & India Will Contribute to Market Growth in Asia
9.5 Rest of the World

10 Competitive Landscape
10.1 Overview
10.2 Market Ranking of Players, 2018
10.3 Competitive Leadership Mapping
10.3.1 Visionary Leaders
10.3.2 Innovators
10.3.3 Dynamic Differentiators
10.3.4 Emerging Companies
10.4 Competitive Scenario
10.4.1 Solution Launches
10.4.2 Expansions
10.4.3 Partnerships, Agreements, and Collaborations
10.4.4 Acquisitions

11 Company Profiles
11.1 Syapse, Inc.
11.2 2bprecise, LLC
11.3 Fabric Genomics, Inc.
11.4 Foundation Medicine, Inc.
11.5 Sophia Genetics Sa
11.6 Pieriandx, Inc.
11.7 N-Of-One, Inc. (A Subsidiary of Qiagen N.V.)
11.8 Human Longevity, Inc.
11.9 Translational Software Inc.
11.10 Sunquest Information Systems, Inc.
11.11 Gene42, Inc.
11.12 Lifeomic Health, LLC

For more information about this report visit https://www.researchandmarkets.com/r/s3hkt7

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Related Topics: Genomics, Software

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