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Precision Oncology Trends and Forecast
The future of the global precision oncology market looks promising with opportunities in the hospitals & diagnostic laboratory, pharmaceutical & biotechnology company, and healthcare data company markets. The global precision oncology market is expected to reach an estimated $182.8 billion by 2030 with a CAGR of 9.0% from 2024 to 2030. The major drivers for this market are technological advancements, increasing demand for diagnostic products to have effective results with minimal side effects in cancer patients, and addressing specific drug resistance issues.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Precision Oncology by Segment
The study includes a forecast for the global precision oncology by product type, cancer type, end use, and region.
Precision Oncology Market by Product Type [Shipment Analysis by Value from 2018 to 2030]:
• Diagnostics
• Therapeutics
Precision Oncology Market by Cancer Type [Shipment Analysis by Value from 2018 to 2030]:
• Breast Cancer
• Cervical Cancer
• Prostate Cancer
• Lung Cancer
• Others
Precision Oncology Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Hospitals & Diagnostic Laboratories
• Pharmaceutical & Biotechnology Companies
• Healthcare Data Companies
Precision Oncology Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Precision Oncology Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies precision oncology companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the precision oncology companies profiled in this report include-
• Thermo Fisher Scientific
• Invitae
• Qiagen
• Illumina
• Laboratory Corporation
• Exact Sciences
• Rain Oncology
• Strata Oncology
• Xilis
• Variantyx
Precision Oncology Market Insights
Lucintel forecasts that diagnostics is expected to witness highest growth over the forecast period due to rising demand of early intervention and treatment for cancer, improved diagnostic imaging and testing techniques, and demand of personalised medicines based on daignosis results.
Within this market, hospitals & diagnostic laboratories will remain the largest segment due to global expansion of diagnostics facilities is predicted to accelerate segment growth.
APAC is expected to witness highest growth over the forecast period due to surge in aging population, rising investment in the healthcare infrastructure, and growing demand of personalized medicine in the region.
Features of the Global Precision Oncology Market
Market Size Estimates: Precision oncology market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Precision oncology market size by product type, cancer type, end use, and region in terms of value ($B).
Regional Analysis: Precision oncology market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different product types, cancer types, end uses, and regions for the precision oncology market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the precision oncology market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the precision oncology market size?
Answer: The global precision oncology market is expected to reach an estimated $182.8 billion by 2030.
Q.2 What is the growth forecast for precision oncology market?
Answer: The global precision oncology market is expected to grow with a CAGR of 9.0% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the precision oncology market?
Answer: The major drivers for this market are technological advancements, increasing demand for diagnostic products to have effective results with minimal side effects in cancer patients and addressing specific drug resistance issues.
Q4. What are the major segments for precision oncology market?
Answer: The future of the precision oncology market looks promising with opportunities in the hospitals & diagnostic laboratory, pharmaceutical & biotechnology company, and healthcare data company markets.
Q5. Who are the key precision oncology market companies?
Answer: Some of the key precision oncology companies are as follows:
• Thermo Fisher Scientific
• Invitae
• Qiagen
• Illumina
• Laboratory Corporation
• Exact Sciences
• Rain Oncology
• Strata Oncology
• Xilis
• Variantyx
Q6. Which precision oncology market segment will be the largest in future?
Answer: Lucintel forecasts that diagnostics is expected to witness highest growth over the forecast period due to rising demand of early intervention and treatment for cancer, improved diagnostic imaging and testing techniques, and demand of personalised medicines based on daignosis results.
Q7. In precision oncology market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period due to surge in aging population, rising investment in the healthcare infrastructure, and growing demand of personalized medicine in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the precision oncology market by product type (diagnostics and therapeutics), cancer type (breast cancer, cervical cancer, prostate cancer, lung cancer, and others), end use (hospitals & diagnostic laboratories, pharmaceutical & biotechnology companies, and healthcare data companies), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Precision Oncology Market, Precision Oncology Market Size, Precision Oncology Market Growth, Precision Oncology Market Analysis, Precision Oncology Market Report, Precision Oncology Market Share, Precision Oncology Market Trends, Precision Oncology Market Forecast, Precision Oncology Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Precision Oncology Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Precision Oncology Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Precision Oncology Market by Product Type
3.3.1: Diagnostics
3.3.2: Therapeutics
3.4: Global Precision Oncology Market by Cancer Type
3.4.1: Breast Cancer
3.4.2: Cervical Cancer
3.4.3: Prostate Cancer
3.4.4: Lung Cancer
3.4.5: Others
3.5: Global Precision Oncology Market by End Use
3.5.1: Hospitals & Diagnostic Laboratories
3.5.2: Pharmaceutical & Biotechnology Companies
3.5.3: Healthcare Data Companies
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Precision Oncology Market by Region
4.2: North American Precision Oncology Market
4.2.2: North American Precision Oncology Market by End Use: Hospitals & Diagnostic Laboratories, Pharmaceutical & Biotechnology Companies, and Healthcare Data Companies
4.3: European Precision Oncology Market
4.3.1: European Precision Oncology Market by Product Type: Diagnostics and Therapeutics
4.3.2: European Precision Oncology Market by End Use: Hospitals & Diagnostic Laboratories, Pharmaceutical & Biotechnology Companies, and Healthcare Data Companies
4.4: APAC Precision Oncology Market
4.4.1: APAC Precision Oncology Market by Product Type: Diagnostics and Therapeutics
4.4.2: APAC Precision Oncology Market by End Use: Hospitals & Diagnostic Laboratories, Pharmaceutical & Biotechnology Companies, and Healthcare Data Companies
4.5: ROW Precision Oncology Market
4.5.1: ROW Precision Oncology Market by Product Type: Diagnostics and Therapeutics
4.5.2: ROW Precision Oncology Market by End Use: Hospitals & Diagnostic Laboratories, Pharmaceutical & Biotechnology Companies, and Healthcare Data Companies
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Precision Oncology Market by Product Type
6.1.2: Growth Opportunities for the Global Precision Oncology Market by Cancer Type
6.1.3: Growth Opportunities for the Global Precision Oncology Market by End Use
6.1.4: Growth Opportunities for the Global Precision Oncology Market by Region
6.2: Emerging Trends in the Global Precision Oncology Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Precision Oncology Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Precision Oncology Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: Thermo Fisher Scientific
7.2: Invitae
7.3: Qiagen
7.4: Illumina
7.5: Laboratory Corporation
7.6: Exact Sciences
7.7: Rain Oncology
7.8: Strata Oncology
7.9: Xilis
7.10: Variantyx
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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