Global Precision Oncology Market Report 2023: Sector to Reach $202 Billion by 2030 at a CAGR of 9.7% - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Precision Oncology Market Size, Share & Trends Analysis Report By Product Type (Diagnostics, Therapeutics), By Cancer Type (Breast Cancer, Cervical Cancer, Prostate Cancer, Lung Cancer), By End-use, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global precision oncology market size is expected to reach USD 202.0 billion and expand at a CAGR of 9.7% from 2023 to 2030.

Companies Mentioned

• Thermo Fisher Scientific Inc.
• Invitae Corporation
• Qiagen N.V.
• Illumina, Inc.
• Laboratory Corporation of America Holding
• Exact Sciences Corporation
• Rain Oncology Inc.
• Strata Oncology, Inc.
• Xilis, Inc.
• Variantyx, Inc.
• Bioserve
• Relay Therapeutics
• Acrivon Therapeutics

Precision oncology is a growing field where the market products emphasize on molecular profiling of tumors to identify alterations in the gene. Currently, the industry has witnessed major success with a 95% response rate being observed in patients along with extended quality-adjusted life.

The market products offer the potential for improved patient care and a better-informed decision-making experience in hospitals and clinics. Alternatively, the increasing prevalence of cancer across the globe, the rising number of clinical trial studies, and the rapid adoption of technology in precision oncology diagnostic is anticipated to boost the market demand.

Due to the COVID-19 pandemic, the precision oncology market had a huge impact as the pandemic exaggerated healthcare across the globe for people living with cancer, possessing a unique set of challenges. Besides, delayed diagnosis and therapeutics using precision oncology have affected cancer patient diagnosis and treatment to a major extent. However, post-COVID-19 pandemic, the market has gained rapid demand as precision oncology offers better therapeutic outcomes and improves the quality of patient life for cancer patients.

In January 2022, OncXerna Therapeutics, Inc. and Exact Sciences Corp. mentioned the agreement to introduce OncXerna's TME Panel lab services for patients in the U.S. It is an innovative gene expression score, which helps identify patients to respond to immunotherapies and anti-angiogenic. Further, the company added that it believes to provide clinician access to the Xerna TME Panel through biopharma partners as a companion diagnostic and existing precision oncology team.

Precision Oncology Market Report Highlights

• Based on product type, the therapeutics segment held the majority of the market share of around 71.7% in 2022 attributed to its rising number of approvals of therapies has benefited the market demand
• Based on cancer type, the breast cancer segment dominated the market in terms of revenue share in 2022 owing to the rising incidence of breast cancer, expanding research activities, evolved diagnostics, and overall patient prognosis is likely to drive the market
• Based on end-use, the hospitals & clinics segment accounted for the largest market share of around 46.8% in 2022 owing to the growing focus on components such as precision planning, precise diagnosis and monitoring, precise treatment
• In 2022, North America dominated the market in terms of revenue with a share of around 42.5% due to trending factors such as rising healthcare expenditure, and evolving healthcare landscape, changing competitive landscape of the precision oncology market in U.S. and Canada

Key Topics Covered:

Chapter 1 Report Scope and Objectives

Chapter 2 Methodology

Chapter 3 Executive Summary

Chapter 4 Market Variables, Trends & Scope

4.1 Market Lineage Outlook

4.1.1 Parent Market Outlook

4.1.2 Ancillary Market Outlook

4.2 Precision Oncology Market Dynamics

4.2.1 Market Driver Analysis

4.2.2 Market Restraint Analysis

4.3 Precision Oncology Market: Business Environment Analysis Tools

4.4 Penetration & Growth Prospect Mapping

4.5 Impact Of Covid-19 On Precision Oncology Market

Chapter 5 Precision Oncology Market: Product Type Analysis

5.1 Precision Oncology Market Share Analysis, 2020 & 2028

5.2 Precision Oncology Market: Segment Dashboard:

5.3 Market Size & Forecasts And Trend Analyses, 2018 To 2030 For The Product Type Segment

Chapter 6 Precision Oncology Market: Cancer Type Analysis

6.1 Precision Oncology Cancer Type Market Share Analysis, 2020 & 2028

6.2 Precision Oncology Cancer Type Market: Segment Dashboard:

6.3 Market Size & Forecasts And Trend Analyses, 2018 To 2030 For The Cancer Type Segment

Chapter 7 Precision Oncology Market: End-Use Analysis

7.1 Precision Oncology End-Use Market Share Analysis, 2020 & 2028

7.2 Precision Oncology End-Use Market: Segment Dashboard:

7.3 Market Size & Forecasts And Trend Analyses, 2018 To 2030 For The End-Use Segment

Chapter 8 Precision Oncology Market: Regional Analysis

Chapter 9 Competitive Analysis

9.1 Recent Developments & Impact Analysis, By Key Market Participants

9.2 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/95vixe

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.