Top Companies in Precision Medicine Software Market | Strategies, In-depth analysis, Statistics by VMR
Precision medicine Software Market to Reach 2288.82 USD Million by 2028.
Coralia.Joe
Market Overview:
The market size of the global Precision medicine software market in the year 2021 is valued at 1,178.40 USD Million and is predicted to reach 2288.82 USD Million by the year 2028 at an 11.70% CAGR during the forecast period. The precision medicine software market is mainly segmented based on deployment model, application, end-user, and geography. The study also evaluates industry competitors and analyzes the market at the country level. Factors such as the rising government funding in precision medicine initiatives, partnerships among pharmaceutical and software companies, the entry of new players & VC funding, and growth in the number of cancer patients are driving the growth of the precision medicine software market. However, the high cost of deployment, issues related to the secure storage of large volumes of sequenced data, lack of reimbursement for precision medicine-based treatments, and the dearth of skilled IT professionals in healthcare are expected to restrain market growth to a certain extent in the coming years.
The North American market accounted for the largest share of precision medicine software in 2021. The large market share of North America in the precision medicine software market can be attributed to factors such as growing HCIT investments in the region, the presence of regulatory mandates supporting market growth in the US, and increasing digitalization and favorable funding initiatives by the Canadian government.
Following are the top 9 leading companies in the Precision medicine software market:
|
Company Name |
Revenue in USD |
|
$35 Million |
|
$343 Million |
|
$20 Million |
|
$37 Million |
|
$19 Billion |
|
<$5 Million |
|
$62 Million |
|
$57 Billion |
To achieve more precise care for every patient, they need to transform real-world evidence into insights that can directly impact care. At Syapse, that is real-world care. They empower healthcare organizations to work together in active, transparent partnerships, delivering complete patient insights to answer the questions that matter and then purposefully applying them to where patients receive care – driving real impact for cancer patients and beyond.
Foundation Medicine is a molecular information company dedicated to a transformation in cancer care in which treatment is informed by a deep understanding of the genomic changes that contribute to each patient's unique cancer. The company offers a full suite of comprehensive genomic profiling assays to identify the molecular alterations in a patient’s cancer and match them with relevant targeted therapies, immunotherapies, and clinical trials. Foundation Medicine’s molecular information platform aims to improve day-to-day care for patients by serving the needs of clinicians, academic researchers, and drug developers to help advance the science of molecular medicine in cancer.
Fabric Genomics is making genomics-driven precision medicine a reality. The company provides clinical decision support software that enables clinical labs, hospital systems, and country-sequencing programs to gain actionable genomic insights, resulting in faster and more accurate diagnoses and reduced turnaround time. Fabric’s end-to-end genomic analysis platform incorporates proven AI algorithms and has applications in both hereditary disease and oncology. Headquartered in Oakland, California, Fabric Genomics was founded by industry veterans and innovators with a deep understanding of bioinformatics, large-scale genomics, and clinical diagnostics.
SOPHiA GENETICS combines deep expertise in life sciences and medical disciplines with mathematical capabilities in data computing. The company's mission is to bring data analytics solutions to market and to support healthcare professionals by maximizing the power of Data-Driven Medicine. They achieve this mission through the global adoption of SOPHiA AI, which is built using techniques such as statistical inference, pattern recognition, and machine learning. This enables SOPHiA to provide equal benefits to all users, unite experts in a gold standard health-tech platform, and motivate expert knowledge sharing for a sustainable impact on future patients.
Koninklijke Philips NV is a Dutch multinational conglomerate corporation that was founded in Eindhoven in 1891. Since 1997, it has been mostly headquartered in Amsterdam, though the Benelux headquarters is still in Eindhoven. In 2020, the company generated revenue of USD 1,953.5 Million and has 81,592 employees working across the globe. The company is listed as IBM on the New York Stock exchange. The company has various subsidiaries such as Respironics, Inc., Saeco, Magnavox, Philips Records, and various others.
LifeOmic’s Precision Health Cloud™ is a secure cloud service for the long-term storage, retrieval, analysis, and clinical use of information central to patient care. The company's platform integrates and indexes disparate sources including genomic, clinical, imaging, medical device, wearables, and population data. All of this data is added to a searchable and flexible repository for each patient to deliver precision treatments and accelerate research. Precision health and wellness solutions must leverage mobile technologies and engage patients and individuals. Used by over 2 million people worldwide, our LIFE mobile apps empower individuals to be more involved in and take action on, their personal health and wellness. Healthcare providers can use the LIFE mobile apps to extend care and information flow outside of their facilities.
NantHealth, a member of the NantWorks ecosystem of companies, provides enterprise solutions that help businesses transform complex data into actionable insights. By offering efficient ways to move, interpret, and visualize complex and highly sensitive information, NantHealth enables customers in healthcare, life sciences, logistics, telecommunications, and other industries to automate, understand and act on data while keeping it secure and scalable. NantHealth’s product portfolio comprises the latest technology in payer/provider collaboration platforms for real-time coverage decision support (Eviti and NaviNet), and data solutions that provide multi-data analysis, reporting, and professional services offerings (Quadris). The OpenNMS Group, Inc., a NantHealth subsidiary, helps businesses monitor and manage network health and performance.
International Business Machines Corporation is an American multinational technology corporation headquartered in Armonk, New York, with operations in over 171 countries. The company is investing in it what is called cognitive computing systems, led by the Watson artificial intelligence platform, which helps customers analyze massive amounts of data to make better decisions. Among other areas, the company is betting on for growth are artificial intelligence, security, cloud, systems, quantum computing, and more. IBM's information technology, business services, and software units are among the largest in the world. While the company has placed less emphasis on hardware, the company maintains enterprise server and data storage product lines that are among industry leaders.
Get a Free Sample Here: https://www.vantagemarketresearch.com/precision-medicine-software-market-market-1353/request-sample
For More Information about each of these companies.
Vantage Market Research Report comes up with a detailed analysis of each major player in the industry. The Study provides Global market size & share, Emerging trends, an in-depth analysis of key players, Development opportunities, Sales, and a Revenue Forecast.
