Precision Oncology - Global Strategic Business Report

The global market for Precision Oncology was estimated at US$112.3 Billion in 2024 and is projected to reach US$171.7 Billion by 2030, growing at a CAGR of 7.3% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Precision Oncology market.

Global Precision Oncology Market - Key Trends & Drivers Summarized

How Is Precision Oncology Transforming Cancer Treatment and Patient Outcomes?

Precision oncology is redefining cancer treatment by leveraging genetic profiling, molecular diagnostics, and targeted therapies to create personalized treatment plans for patients. Unlike traditional one-size-fits-all approaches, precision oncology tailors treatment based on an individual's genetic mutations, tumor biomarkers, and immune system response. Advances in next-generation sequencing (NGS) and liquid biopsy technologies have enabled oncologists to detect cancer-related genetic alterations early, allowing for more effective intervention strategies. Pharmaceutical companies are increasingly investing in precision medicine-driven drug development, leading to the rise of targeted therapies such as monoclonal antibodies, checkpoint inhibitors, and CAR-T cell therapies that improve treatment efficacy while reducing adverse effects. Additionally, AI-powered analytics and big data platforms are accelerating biomarker discovery, enabling the development of more precise diagnostic tools. As the oncology landscape shifts toward molecularly guided treatment strategies, precision oncology is emerging as a leading force in cancer care, offering patients more personalized and effective treatment options.

What Challenges Are Limiting the Widespread Adoption of Precision Oncology?

Despite its revolutionary potential, precision oncology faces several challenges that hinder its broad adoption in clinical practice. One of the most significant barriers is the high cost of genomic testing and targeted therapies, making them inaccessible to many patients and healthcare systems. The complexity of integrating molecular diagnostics into standard oncology workflows also poses a challenge, as many healthcare providers require specialized training to interpret genetic data effectively. Additionally, regulatory hurdles and lengthy approval processes for targeted therapies slow down market entry, delaying patient access to cutting-edge treatments. Limited availability of high-quality patient data and the need for large-scale clinical trials further complicate the development of precision oncology treatments. Ethical concerns surrounding genetic data privacy and the potential for insurance discrimination also raise concerns among patients. Addressing these challenges will require continued investment in affordable genomic testing, healthcare provider education, regulatory reforms, and stronger patient data protection policies.

How Are Innovations and Digital Technologies Enhancing the Future of Precision Oncology?

Technological advancements in genomics, artificial intelligence, and bioinformatics are accelerating the evolution of precision oncology, improving diagnostic accuracy and treatment efficacy. AI-driven algorithms are enhancing the interpretation of complex genetic datasets, allowing oncologists to identify actionable mutations more efficiently. The integration of liquid biopsy technology is providing non-invasive methods for detecting circulating tumor DNA (ctDNA), enabling real-time monitoring of tumor progression and treatment response. Immunotherapy advancements, including personalized cancer vaccines and adoptive T-cell therapies, are further expanding precision oncology's capabilities in targeting specific cancer subtypes. Additionally, blockchain technology is being explored to ensure secure and transparent sharing of patient genomic data, improving collaboration between researchers and healthcare providers. The rise of decentralized clinical trials and real-world evidence (RWE) is also contributing to precision oncology's growth, facilitating faster drug development and regulatory approvals. As digital technologies continue to refine precision oncology approaches, the field is set to become more accessible, cost-effective, and integrated into mainstream cancer treatment.

What Is Driving the Growth of the Precision Oncology Market?

The growth in the precision oncology market is driven by several factors, including the increasing prevalence of cancer, rising demand for personalized treatment solutions, and continuous advancements in genomics and molecular diagnostics. The rapid expansion of companion diagnostics is fueling the market, as pharmaceutical companies develop targeted therapies that require biomarker-based patient stratification. Government initiatives supporting precision medicine research and funding for genomic sequencing programs are further accelerating market growth. The increasing role of AI and machine learning in oncology research is also enhancing drug discovery and patient management, improving treatment outcomes. Additionally, the expansion of precision oncology services into emerging markets, coupled with rising healthcare expenditure, is creating new growth opportunities. As healthcare systems worldwide shift toward precision-driven cancer care, the precision oncology market is expected to witness sustained expansion, shaping the future of cancer diagnosis and treatment.

Scope of Study:

The report analyzes the Precision Oncology market in terms of units by the following Segments, and Geographic Regions/Countries:

• Segments: Type (Precision Oncology Therapeutics, Precision Oncology Diagnostics); Cancer Type (Breast Cancer, Colorectal Cancer, Cervical Cancer, Prostate Cancer, Lung Cancer, Other Cancer Types); End-Use (Hospitals & Diagnostic Laboratories End-Use, Pharma & Biotech Companies End-Use, Healthcare Data Companies End-Use)
• Geographic Regions/Countries: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Precision Oncology Therapeutics segment, which is expected to reach US$121.9 Billion by 2030 with a CAGR of a 8.6%. The Precision Oncology Diagnostics segment is also set to grow at 4.6% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, estimated at $30.6 Billion in 2024, and China, forecasted to grow at an impressive 11.7% CAGR to reach $36.6 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Precision Oncology Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Precision Oncology Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Precision Oncology Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of players such as AbbVie Inc., Amgen Inc., AstraZeneca, BioNTech SE, Bristol Myers Squibb and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 43 companies featured in this Precision Oncology market report include:

• AbbVie Inc.
• Amgen Inc.
• AstraZeneca
• BioNTech SE
• Bristol Myers Squibb
• Caris Life Sciences
• Eli Lilly and Company
• Exact Sciences Corporation
• Foundation Medicine
• Gilead Sciences
• Guardant Health
• Illumina, Inc.
• Johnson & Johnson
• Merck & Co., Inc.
• NeoGenomics Laboratories
• Novartis
• Pfizer Inc.
• Qiagen
• Roche Diagnostics
• Tempus AI, Inc.

This edition integrates the latest global trade and economic shifts as of June 2025 into comprehensive market analysis. Key updates include:

• Tariff and Trade Impact: Insights into global tariff negotiations across 180+ countries, with analysis of supply chain turbulence, sourcing disruptions, and geographic realignment. Special focus on 2025 as a pivotal year for trade tensions, including updated perspectives on the Trump-era tariffs.
• Adjusted Forecasts and Analytics: Revised global and regional market forecasts through 2030, incorporating tariff effects, economic uncertainty, and structural changes in globalization. Includes segmentation by product, technology, type, material, distribution channel, application, and end-use, with historical analysis since 2015.
• Strategic Market Dynamics: Evaluation of revised market prospects, regional outlooks, and key economic indicators such as population and urbanization trends.
• Innovation & Technology Trends: Latest developments in product and process innovation, emerging technologies, and key industry drivers shaping the competitive landscape.
• Competitive Intelligence: Updated global market share estimates for 2025, competitive positioning of major players (Strong/Active/Niche/Trivial), and refined focus on leading global brands and core players.
• Expert Insight & Commentary: Strategic analysis from economists, trade experts, and domain specialists to contextualize market shifts and identify emerging opportunities.
• Complimentary Update: Buyers receive a free July 2025 update with finalized tariff impacts, new trade agreement effects, revised projections, and expanded country-level coverage.