SEATTLE, June 08, 2021, (MEDGADGET) — Precision medicine software is an advanced approach for diseases such as cancer, rare illness, and infectious diseases. It is a combination of molecular biology systems and techniques which is helpful for the clinicians and physicians to efficiently monitoring the patient. Precision medicine software is widely used in genetic research and genomics.
Precision Medicine Software Market Drivers
New launches of bioinformatics platforms are projected to drive the global precision medicine software market growth. For instance, in January 2019, XIFIN launched its new precision medicine informatics platform (VisualSrata), which is helpful for healthcare professionals to gain insights, make decisions, and enhance patient care and outcome.
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Moreover, new molecular strategy launches are projected to boost the global precision medicine software market growth. For instance, in April 2018, Harvard’s Wyss Institute launched a new molecular strategy (NuProbe). NuProbe is a type of DNA nanotechnology-based variant-detecting method. It is a fast, efficient, low-cost, and multiplexed molecular diagnostic tool for the diagnosis of various diseases such as cancer and infectious diseases.
Moreover, launches of new genomic tools are expected to support the global precision medicine software market share. For instance, in September 2018, Ariel Precision Medicine, Inc. launched its new genomics tool ArielDx for personalized management and early diagnosis of pancreatic diseases.
Precision Medicine Market Software Restraints
A product recall is a major challenge, which is projected to hinder the market growth of precision medicine software. For instance, in January 2018, Phillips Medical System Inc. received a product recall letter from U.S Food and Drug Administration (FDA) for its Brilliance Big Core CT. This software is recalled as the error has been detected in the production of X-ray tubes. That may result in an inability to generate Computed Tomography (CT) images.
North America is projected to hold a dominant position in the global precision medicine software market, and this can be attributed to the growing government initiative. For instance, in January 2019, NIH (National Institutes of Health) and Fitbit launched their first digital health technology initiative for the advanced precision medicine study. This initiative is known as All of Us Research Program and is expected to improve the prevention and treatment of diseases, which are based on individual differences in lifestyle, environment, and genetics.
Furthermore, the rising number of new platform launches in the U.S. is expected to propel the global precision medicine software market growth. For instance, in November 2016, the American Heart Association (AHA) announced its new launch of a cloud-based precision medicine platform in collaboration with Amazon Web Services (AWS). The main aim of this platform is to help the clinicians and researchers in the collection of the data and to promote solutions for cardiovascular disease treatments.
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Moreover, Asia Pacific is also projected to witness significant growth in the global precision medicine software market, and this can be attributed to increasing business expansion activities by key players. For instance, in September 2018, Konica Minolta, Inc. announced the launch of its new business in precision medicine Konica Minolta Precision Medicine, Inc. in Japan. They focus on the development of technologies, medicine platform, and discovering new therapies.
Key players operating in the precision medicine software market include Syapse, Inc., 2bPrecise LLC, Foundation Medicine, Inc., Fabric Genomics, SOPHiA GENETICS SA, Gene42, Inc., LifeOmic Health, LLC, NantHealth, Inc., and Koninklijke Philips N.V.
By Delivery Type
- Rare Diseases
By End Users
- Research Centers
- Government Institutes
- Pharmaceutical & Biotechnology Companies
- North America
- Asia Pacific
- Latin America
- Middle East
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Table of Content
Global Precision Medicine Software Market Research Report
Section 1: Global Precision Medicine Software Industry Overview
Section 2: Global Economic Impact on Precision Medicine Software Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Precision Medicine Software Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Precision Medicine Software Market Forecast
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