The precision medicine software developers market is projected to grow at an annualized rate of 30%, till 2032, claims Roots Analysis
Given their ability to cater to the existing unmet needs in the healthcare sector, various industry stakeholders have made investments for the development and implementation of precision medicine software applications for diagnosis, analysis and treatment of a range of disorders.
Roots Analysis has announced the addition of “Precision Medicine Software Market 2021-2032” report to its list of offerings.
Conventional methods being used for the treatment of various disease indications are fraught with several challenges, including inefficiency of reporting any medical symptom / condition at the initial stage, frequent visits to hospitals, the one-size-fits-all approach. These bottlenecks have encouraged healthcare professionals to shift their attention towards the use of precision medicine software applications.
Key Market Insights
125+ precision medicine software applications are currently available / under development
This segment of the industry is dominated by the presence of small players 50 employees), which represent nearly 60% of the contemporary landscape. Further, about 75% software application developers are presently based in North America. In addition, around 90% of these applications are based on cloud.
Around 50% of software applications are intended for the treatment of oncological disorders
Presently, several precision medicine software applications are intended for diagnosis, analysis and / or treatment of oncological disorders. Other popular therapeutic areas being targeted by such software applications include neurological disorders (13%) and cardiovascular disorders (11%).
Patents filed related to precision medicine software applications, increased at a CAGR of 57%
Of the total, around 80% of the patents were filed as applications, followed by granted patents. It is worth mentioning that most of the patents (55%) were filed / granted in North America. Further, 68% of the total active patents were filed in this region, during the period 2018-2021.
Partnership activity has grown at an annualized rate of over 72%, between 2018 and 2020
Maximum number of partnerships were established in 2020, indicating the rising interest of stakeholders in this domain. Service agreements emerged as the most common type of partnership model adopted by players engaged in this domain, representing about 40% of the total number of instances.
About USD 2.4 billion has been invested by both public and private investors in this field
Funding activity in this domain has increased at a CAGR of 52%, during the period 2018-2020. Around 44% of the total amount invested was raised through venture funding rounds. In addition, majority of the funding instances (35) were focused on business development.
~50% market share is captured by software applications targeting oncological disorders, in 2022
In the foreseen future, the market opportunity is likely to be distributed amongst different end-users. Among key geographical regions, application developers based in Europe are anticipated to contribute the maximum (72.5%) to the overall market, followed by those having headquarters in North America (20.4%).
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Key Questions Answered
Who are the leading players engaged in the development of precision medicine software applications?
Which platform is more likely to reach the market in the near future?
Which therapeutic area is primarily being targeted by precision medicine software?
What kind of partnership models are most commonly adopted by industry stakeholders?
Who are the key investors in this domain?
What are the different types of data being handled by precision medicine software developers?
How is the current and future opportunity likely to be distributed across key market segments?
The financial opportunity associated with the precision medicine software developers’ market has been analyzed across the following segments:
Therapeutic Area
Oncological Disorders
Neurological Disorders
Cardiovascular Disorders
Metabolic Disorders
Types of End-Users
Hospitals
Healthcare Providers
Pharma and Biotech Companies
Geographical Area
North America
Europe
Asia-Pacific and Rest of the World
The research includes detailed profiles of 10+ precision medicine software applications being developed by key players (listed below); each profile features an overview of the developer, details related to recent developments and an informed future outlook.
AceTech
Ariel Precision Medicine
C2i Genomics
Genedata
Inspirata
IQVIA
Fabric Genomics
GenomOncology
Human Longevity
SOPHiA GENETICS
Syapse
For additional details, please visit
https://www.rootsanalysis.com/....reports/precision-me or email sales@rootsanalysis.com
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About Roots Analysis
Roots Analysis is one of the fastest growing market research companies, sharing fresh and independent perspectives in the bio-pharmaceutical industry. The in-depth research, analysis and insights are driven by an experienced leadership team which has gained many years of significant experience in this sector. If you’d like help with your growing business needs, get in touch at info@rootsanalysis.com
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