Research Nester’s recent market research analysis on “Precision Oncology Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global precision oncology market in terms of market segmentation by type, end-user, cancer type, and product type and by region.

Rising Focus On Genomic Research and Increasing Regulatory Approvals for Personalized Therapeutics to Promote Global Market Share of Precision Oncology Market
The global precision oncology market is estimated to grow majorly on account of growth in the genetic testing and companion diagnostics market. Moreover, the rising cases of cancer are projected to boost the global precision oncology market. For instance, in the year 2020, almost 18 million cancer cases were diagnosed. The precision oncology is a specialized approach to cancer care that enhances molecular and genomic information to provide customized treatment on the characteristics of the tumor of the patient. The precision oncology is the concept of somatic mutations as the primary foundation of cancer development. Moreover, the precision oncology has made success in leaps and bounds in recent years and nowadays is at the center of revolutionizing cancer research. Other than this, the rising utilization of artificial intelligence in precision medicine including the oncology sector is also acquiring momentum. The governments all across the world are also funding enormously for supporting new drugs, technologies, and strategies for treatment. These factors are also expected to bolster the growth of the global precision oncology market during the forecast period.

Some of the major growth factors and challenges that are associated with the growth of the global precision oncology market are:
Growth Drivers:
• Advancements in Genomic Sequencing Technologies
• Widespread Adoption of Liquid Biopsies
Challenges:
Data privacy and security concerns, interoperability, and data integration, and challenges associated to the costs and reimbursement are some of the major factors anticipated to hamper the market size of global precision oncology market

Access our detailed report at: https://www.researchnester.com/reports/precision-oncology-market/5663

By end users, the global precision oncology market is segmented into hospitals, diagnostics laboratories, and biotechnology companies. The hospital segment is projected to garner a remarkable share in the year 2036. The increasing incidences of cancer all across the globe are primarily driving the growth of the hospital segment. Moreover, there is a rising number of research institutions designated for cancer which are also fueling the segment growth. For instance, in the US there are almost 72 NCI designated Cancer Centers in the United States.

By region, the Europe precision oncology market is to generate the highest revenue by the end of 2036. The European Precision Oncology Market size is projected to be worth USD 29 billion by the year 2036 from almost USD 16 billion in 2023. The rising prevalence of the development of new drugs with the help of genome therapies is augmenting the market growth.
This report also provides the existing competitive scenario of some of the key players of the global precision medicine market which includes company profiling of Illumina, Inc., Thermo Fisher Sceintific Inc., Roche Holding AG, Qiagen N.V, Foundation Medicine, Inc, Guardant Health, inc, Myriad Genetics, Inc, Agilent Technologies, Inc, Personalis, Inc., NeoGenomics Laboratories, Inc, Sysmex Corporation and Chugai Pharmaceutical Co., Ltd. and others.