Precision Oncology Market Report 2025

The precision oncology market size has grown rapidly in recent years. It will grow from $95.73 billion in 2024 to $106.21 billion in 2025 at a compound annual growth rate (CAGR) of 11%. The growth during the historic period can be credited to the increasing number of companion diagnostics approvals, heightened focus on biomarker discovery and validation, growing investments in oncology research and innovation, a rising number of precision oncology clinical trials, and the increasing preference for minimally invasive diagnostic methods.

The precision oncology market size is expected to see rapid growth in the next few years. It will grow to $158.9 billion in 2029 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to the rising prevalence of cancer cases, increasing adoption of genomics-based diagnostics, growing awareness among patients and healthcare providers, expanding utilization of next-generation sequencing, and the rising demand for targeted cancer therapies. Key trends during this period include advancements in liquid biopsy technologies, increased application of single-cell sequencing for tumor analysis, development of decentralized testing platforms, innovations in radiogenomics for treatment planning, and progress in patient-specific cancer vaccines.

The rising adoption of personalized therapies is expected to drive growth in the precision oncology market. Personalized therapies are treatments tailored to an individual’s genetic makeup, biomarkers, and specific disease characteristics to enhance effectiveness and minimize side effects. The increasing adoption of these therapies is fueled by advances in genomic technologies that allow precise identification of disease-driving mutations, enabling more targeted and effective cancer treatments. Precision oncology supports personalized therapies by using genomic and molecular profiling to design cancer treatments specific to a patient’s tumor genetics. For example, in February 2023, according to GOV.UK, the Health and Social Care Secretary in the UK signed a memorandum of understanding (MoU) with BioNTech SE to advance cancer vaccine research, with the goal of delivering 10,000 personalized therapy doses to UK patients by 2030. This demonstrates how growing awareness and adoption of personalized therapies are driving precision oncology market growth.

Companies in the precision oncology market are developing genomic-driven innovations to enhance personalized cancer care. One such innovation is the molecular tumor board, a panel of specialists that interprets complex genomic and molecular test data to guide precision-driven cancer therapies tailored to each patient’s tumor characteristics. For instance, in December 2024, Aster DM Healthcare Ltd., a UAE-based healthcare provider, launched a precision oncology clinic as part of three initiatives aimed at transforming cancer treatment through data-driven, genomic-focused strategies. This clinic provides customized therapy based on a patient’s tumor genetic profile, improving treatment outcomes, reducing toxicity, and enhancing quality of life.

In March 2024, Bayer AG, a Germany-based pharmaceutical company, partnered with Aignostics GmbH to advance AI-driven precision oncology. This collaboration leverages Aignostics’ computational pathology and AI technologies to analyze patient data, supporting the discovery and development of more effective, personalized cancer treatments. Aignostics GmbH specializes in AI solutions designed to enhance precision oncology research and patient care.

Major players in the precision oncology market are Pfizer Inc., F. Hoffmann-La Roche Ltd., Bayer AG, Bristol Myers Squibb Company, Thermo Fisher Scientific Inc., AstraZeneca plc., Novartis AG, Eli Lilly and Company, Amgen Inc., Agilent Technologies Inc., Illumina Inc., Sysmex Corporation, Qiagen N.V., Exact Sciences Corporation, NeoGenomics Laboratories Inc., Myriad Genetics Inc., Invitae Corporation, Caris Life Sciences, Foundation Medicine Inc., NanoString Technologies Inc., Personalis Inc., Strata Oncology Inc.

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

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.

Precision oncology is a medical strategy that customizes cancer treatment based on the unique characteristics of each patient. This approach leverages molecular and genetic profiling of tumors to identify specific mutations, biomarkers, or pathways that drive cancer progression, enabling clinicians to choose targeted therapies that are more likely to be effective and cause fewer side effects compared to conventional treatments.

The primary categories of precision oncology include genomic sequencing and immunotherapy. Genomic sequencing involves determining the complete DNA sequence of an organism’s genome at a given time. Key product offerings in this domain include genetic tests, biomarker-based assays, and targeted therapeutics, which are applied in treating various cancers such as breast, lung, colorectal, prostate, skin, stomach, and others. Supporting technologies encompass next-generation sequencing, bioinformatics, molecular imaging, and liquid biopsy. The primary end users include hospitals, research laboratories, pharmaceutical companies, and diagnostic centers.

The precision oncology market research report is one of a series of new reports that provides precision oncology market statistics, including the precision oncology industry's global market size, regional shares, competitors with the precision oncology market share, detailed precision oncology market segments, market trends and opportunities, and any further data you may need to thrive in the precision oncology market. This precision oncology 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.

The precision oncology market consists of revenues earned by entities by providing services such as genomic and molecular profiling services, companion diagnostics services, and personalized treatment planning. The market value includes the value of related goods sold by the service provider or included within the service offering. The precision oncology market also includes sales of genomic and molecular diagnostic equipment, immune checkpoint inhibitors, and bioinformatics and decision support tools. 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).

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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