Key Findings of The Global Precision Medicine Software Market

Posted by Loise Williams on March 16th, 2020

Technavio has been monitoring the global precision medicine software market since 2019 and the market is poised to grow by USD 882.65 million during 2020-2024, progressing at a CAGR of 11% during the forecast period.

The market is driven by the benefits of precision medicine. In addition, the digitization of healthcare is anticipated to boost the growth of the precision medicine software market.

Precision medicine overcomes several limitations of conventional medicine as it is based on the unique genetic information of a patient. It improves the quality of patient care by eliminating unwarranted variations in medical care. This is resulting in a significant reduction in time, cost, and failure rate of pharmaceutical clinical trials. Owing to many such benefits, precision medicine is gaining popularity among healthcare providers, research organizations, and patients. These factors are influencing the growth of the global precision medicine market.

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 Major Five Precision Medicine Software Market Companies:

F. Hoffmann-La Roche Ltd.

F. Hoffmann-La Roche Ltd. operates its business through segments such as Pharmaceuticals and Diagnostics. FoundationInsights and FoundationSmartTrials are the key products offered by the company.

Fabric Genomics Inc.

Fabric Genomics Inc. operates its business through segments such as Technology and Pediatric Solutions. Fabric Enterprise is the key offering of the company.

Gene42 Inc.

Gene42 Inc. operates its business through segments such as PhenoTips Genomics Suite, PhenoTips Oncology Suite, and PhenoTips. In 2019, the company partnered with Care4Rare to launch the first national rare disease research platform, Genomics4RD, in Canada.

Human Longevity Inc.

In March 2018, Human Longevity Inc. launched two new comprehensive Health Nucleus products - Health Nucleus X and Health Nucleus X Platinum. These products are primarily designed to focus on four disease areas including cancer, cardiac, neurodegenerative/neurovascular and metabolic.

International Business Machines Corp.

International Business Machines Corp. operates its business through segments such as Technology Services & Cloud Platforms, Cognitive Solutions, Global Business Services, Systems, and Global Financing. Watson for Genomics is the key offering of the company. It uses AI to offer comprehensive and validated variant information and clinical data, designed for enabling molecular pathology laboratories to upscale their precision oncology programs.

Precision Medicine Software Delivery Mode Outlook (Revenue, USD Million, 2020 - 2024)

  • On-premise
  • Cloud-based

Precision Medicine Software Regional Outlook (Revenue, USD Million, 2020 - 2024)

  • Asia
  • Europe
  • North America
  • ROW

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200

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Loise Williams

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Loise Williams
Joined: August 7th, 2019
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