The Global Oncology Precision Medicine Market to Reach $148.66 Billion by 2030, reports BIS Research

FREMONT, Calif., Dec. 16, 2020 /PRNewswire/ -- The global oncology precision medicine market is projected to reach $148.66 billion by 2030, reveals a premium market intelligence study by BIS Research. The study also highlights that the market is set to witness a CAGR of 11.21% during the period 2020-2030. 

The comprehensive study of the oncology precision medicine market by BIS Research extensively covers the following:

• Market numbers on micro-segments that are influencing the market ecosystem
• More than 1000 products present in the market
• Market share analysis of more than 20 companies
• Detailed global and regional market share analysis including the scrutiny of more than 15 countries 
• Study of data of more than 50 companies

The detailed study is a compilation of 210 figures spread through 297 pages and in-depth TOC on "Global Oncology Precision Medicine Market - Analysis and Forecast, 2020-2030".

Besides these parameters, the study also encompasses the market growth drivers, opportunities, market restraining factors, competition mapping, segmental analysis, and brief patent analysis.

The BIS Research study indicates the increasing number of precision diagnostics and therapeutics in demand, rising reliability for polymerase chain reaction (PCR) and next-generation sequencing (NGS) results, and the rising prevalence of cancer globally, and improving government initiatives that are propelling factors for the growth of the market. 

The study also highlights the various emerging opportunities for the market, such as the increasing number of FDA approvals for oncology based personalized medicines and expanding research collaborations. The market intelligence report by BIS Research additionally throws a spotlight on the key industry drivers that are expected to have a humungous influence in shaping the industry in the future. Some of these drivers include reducing trial and error-based prescription due to rising cancer incidences, precision medicine methodology, and decreasing overall cost of genetic sequencing.

View the Report from BIS Research for the Global Oncology Precision Medicine Market

In order to gain a holistic view of the market, data from different segments of the market has been analyzed minutely. These segments include ecosystem and application analysis, types of products offered, technologies used, sources used, and regions. Each of these segments is further categorized into sub-segments and micro-segments to compile an in-depth study. 

The ecosystem and application analysis of the global market includes data analysis on the satisfaction level of different products such as kits, consumables, and instruments offered, and the pricing analysis of such products. The study is majorly centered on the sub-segments and micro-segments of the different product markets and their technologies.

Emphasizing the dominance of North America among all the regions market in 2020 and 2030, Nitish Kumar Singh, Principal Analyst – BIS Research, states, "The North America region accounted for the largest share among all the regions, holding 39.32% of the oncology precision medicine market in 2019. This segment is anticipated to grow at a CAGR of 9.77% during the forecast period 2020-2030. However, it is expected that the Asia-Pacific region will witness the highest CAGR of 13.88% during the forecast period, 2020-2030."

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Key insights have been drawn from in-depth interviews with the key opinion leaders of more than 50 leading companies, market participants, and vendors. The key players profiled in the report include Abbott Laboratories, Agilent Technologies, Inc., Almac Group Ltd., ANGLE plc, Asuragen, Inc., Bristol Myers Squibb, bioMérieux SA., BGI Group, Bio-Rad Laboratories, Inc F. Hoffmann-La Roche AG, Gilead Sciences, Inc. Illumina, Inc, Konica Minolta, Inc., Laboratory Corporation of America Holdings, MDx Health, Inc., Myriad Genetics, Inc., Novartis AG, Opko Health, Inc., Pacific Biosciences of California, Inc., Thermofisher Scientific, QIAGEN N.V., and Quest Diagnostics. 

The study also offers strategic recommendations that can help organizations in tracking various products, trends, and technologies that are changing the dynamics of the market. The recommendations by BIS Research also offer bespoke research services to help organizations meet their objectives.

Who should buy this report?

• Manufacturers of instruments, kits, assays, targeted therapies, drugs, and consumables
• Providers of laboratory-developed cancer diagnostic tests
• Companies in the services market of oncology genetic testing
• Research firms investing in oncology precision therapies

Insightful Questions Covered to Enable Companies to take Strategic Decisions 

• What are the most common causes of cancer deaths globally?
• What are the emerging technologies that can take over the current technologies for molecular diagnosis within the oncology precision medicine market?
• How are the key market players performing research investments in the respective market?
• Who are the upcoming start-ups within the oncology precision medicine market and their funding scenario?
• What are the key development strategies implemented by the key players to stand out in this market?
• How have the strategic collaborations among the key players and academia, providing a push to product development within the oncology precision medicine market?
• What are the regulations pertaining to precision medicine in oncology among different regions and their impact on the respective market?
• What are the initiatives implemented by different government bodies regulating the development and commercialization of oncology precision medicine products and associated platforms?
• How has COVID-19 impacted the oncology precision medicine market?
• How will the urgency of the pandemic influence the global oncology precision medicine market?
• What are the leading companies dominating the global oncology precision medicine market?
• What is the reimbursement scenario of the products offered in the global oncology precision medicine market?
• Based on the application area, which global oncology precision medicine market application area is anticipated to witness a massive rise in demand in the forecast period?
• How is each segment of the global oncology precision medicine market expected to grow during the forecast period, and what is the revenue expected to be generated by each of the segments by the end of 2030?
• How is the global oncology precision medicine industry anticipated to evolve during the forecast period 2020-2030?
• What are the leading trends and consumer preferences witnessed in the global oncology precision medicine market?

BIS Research Related Market Studies:

Global Precision Medicine Market – Analysis and Forecast, 2020-2030

Global Non-Oncology Precision Medicine Market - Analysis and Forecast, 2020-2030

About BIS Research

BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals. 

Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management. 

BIS Research offers syndicate as well as custom studies, and expert consultations to firms, providing them specific and actionable insights on novel technology markets, business models, and competitive landscape. 

BIS Healthcare vertical offers intelligence in the healthcare technology market for Medical Devices, Digital Health, Life Sciences, Robotics and Imaging, Information Technology, Precision Medicine, and other emerging healthcare technologies, covering the entire industry spectrum. In the past five years, BIS Healthcare has published more than 50 reports under the precision medicine banner. Additionally, BIS Research has been nominating Top 25 Voices in Precision Medicine on its Insight Monk platform for the past two years successfully.  

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SOURCE BIS Research