Oncology Precision Medicine Market Report 2025

The corticosteroid eyedrops market size has grown strongly in recent years. It will grow from $8.36 billion in 2024 to $10.0 billion in 2025 at a compound annual growth rate (CAGR) of 6.8%. The growth during the historic period can be attributed to the increasing incidence of cancer, greater adoption of targeted therapies, rising investments in genomic research, improvements in healthcare infrastructure, and growing awareness of personalized medicine.

The corticosteroid eyedrops market size is expected to see strong growth in the next few years. It will grow to $12.88 billion in 2029 at a compound annual growth rate (CAGR) of 6.5%. The growth during the forecast period can be attributed to the rising demand for non-invasive cancer diagnostics, increasing preference for personalized treatment strategies, growing utilization of companion diagnostics, a broadening pipeline of precision oncology drugs, and the expanding clinical use of artificial intelligence tools. Key trends expected in the forecast period include technological advancements in liquid biopsy platforms, innovations in next-generation sequencing, progress in artificial intelligence for data interpretation, ongoing research and development in biomarker discovery, and the integration of multi-omics approaches in clinical oncology.

The increasing prevalence of cancer is anticipated to drive the growth of the oncology precision medicine market in the coming years. Cancer is a condition characterized by the uncontrolled growth of abnormal cells that can spread throughout the body and disrupt normal functions. The rise in cancer cases is largely attributed to aging populations, as longer lifespans contribute to the accumulation of DNA mutations, weakened DNA repair mechanisms, chronic inflammation, declining immune surveillance, and tissue environments that increasingly support tumor development. Oncology precision medicine addresses this challenge by offering personalized treatments tailored to the genetic profile of each tumor, enhancing treatment effectiveness and minimizing adverse effects. For example, in February 2024, the World Health Organization (WHO), a Switzerland-based intergovernmental organization, reported that the 20 million new cancer cases recorded in 2022 are projected to increase by 77% to exceed 35 million cases by 2050. Consequently, the rising prevalence of cancer is contributing to the expansion of the oncology precision medicine market.

Leading companies in the oncology precision medicine sector are prioritizing the development of advanced solutions, such as molecular tumor board initiatives, to promote interdisciplinary collaboration and support the creation of personalized cancer treatment plans. Molecular tumor boards are composed of specialists who analyze and interpret complex genetic and molecular testing results to recommend customized therapeutic strategies for cancer patients. For instance, in April 2025, McKesson Corporation, a U.S.-based healthcare services and information technology firm, introduced the Precision Care Companion initiative to support biomarker-guided cancer care. The program includes educational resources, technological advancements, and operational support for oncology practices. It fosters collaboration among physicians, clinical teams, business professionals, and pharmaceutical partners to expedite the adoption of genomic testing and targeted therapies, thereby enabling more personalized and effective treatment approaches and improving outcomes for cancer patients.

In February 2024, AbbVie Inc., a U.S.-based biopharmaceutical company, acquired ImmunoGen for $10.1 billion. This acquisition is intended to strengthen AbbVie’s oncology portfolio and accelerate its presence in the solid tumor treatment space by leveraging ImmunoGen’s global infrastructure, commercial capabilities, and innovative antibody-drug conjugate (ADC) pipeline that extends beyond ovarian cancer. ImmunoGen Inc. is a U.S.-based biotechnology firm that develops ADCs designed to deliver precision-targeted therapies for cancer based on specific tumor biomarkers.

Major players in the oncology precision medicine market are Roche Holding AG, Bristol Myers Squibb Company, Abbott Laboratories, Novartis AG, Gilead Sciences Inc., Laboratory Corporation of America Holdings, Quest Diagnostics Inc., Agilent Technologies Inc., Illumina Inc., bioMérieux S.A., Bio-Rad Laboratories Inc., Exact Sciences Corporation, Almac Group Limited, OPKO Health Inc., Natera Inc., Myriad Genetics Inc., Pacific Biosciences of California Inc., Asuragen Inc., BGI Group, and ANGLE plc.

North America was the largest region in the oncology precision medicine market in 2024. The regions covered in oncology precision medicine report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the oncology precision medicine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The oncology precision medicine market consists of revenues earned by entities by providing services such as personalized treatment planning, molecular tumor profiling services, companion diagnostics services, clinical decision support services, and patient risk assessment and stratification. The market value includes the value of related goods sold by the service provider or included within the service offering. The oncology precision medicine market also includes sales of next-generation sequencing (NGS) machines, polymerase chain reaction (PCR) systems, flow cytometers, and robotic sample preparation systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The sudden escalation of U.S. tariffs and the consequent trade frictions in spring 2025 are severely impacting the pharmaceutical companies contend with tariffs on APIs, glass vials, and lab equipment inputs with few alternative sources. Generic drug makers, operating on razor-thin margins, are especially vulnerable, with some reducing production of low-profit medicines. Biotech firms face delays in clinical trials due to tariff-related shortages of specialized reagents. In response, the industry is expanding API production in India and Europe, increasing inventory stockpiles, and pushing for trade exemptions for essential medicines.

The oncology precision medicine market research report is one of a series of new reports that provides oncology precision medicine market statistics, including the oncology precision medicine industry global market size, regional shares, competitors with the oncology precision medicine market share, detailed oncology precision medicine market segments, market trends, and opportunities, and any further data you may need to thrive in the oncology precision medicine industry. This oncology precision medicine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Oncology precision medicine represents a personalized cancer treatment approach that utilizes genetic, molecular, and clinical data to customize therapeutic strategies based on the specific characteristics of an individual’s tumor. The goal is to enhance outcomes by selecting treatments that precisely target the distinct biological traits of a patient’s cancer, resulting in more effective and less harmful therapies.

The primary product categories in oncology precision medicine include diagnostics, therapeutics, inhibitor drugs, monoclonal antibodies, cell and gene therapies, and antiviral and anti-retroviral medications. Diagnostics involves detecting diseases or medical conditions through the assessment, testing, and analysis of symptoms or biological samples. Core technologies in this field include genomics, proteomics, bioinformatics, and others. Various biomarker types include genetic, protein, epigenetic, metabolic, and additional biomarkers. Applications span several cancer types, such as breast cancer, lung cancer, colorectal cancer, prostate cancer, cervical cancer, kidney cancer, liver cancer, bladder cancer, and more, serving a range of end users including hospitals, diagnostic labs, research centers, pharmaceutical companies, and others.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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