Therapeutics, a biotech company that develops precision medicines collaborated to advance novel in-vivo base editing for a rare disorder, Beam therapeutics has developed a platform for precision medicine that includes gene editing and delivery technologies which make accurate, predictable and easy single base changes, at target sequence without altering the DNA.Precision medicine offers personalized medicines and patient-centric care for distinct individuals with genetic characteristics, markers or prerequisites. The technology needed to facilitate this transformative treatment model transits from data generated at the edge to data science workloads on High-Performance Computing (HPC) platforms in the cloud or on-premises. Academic research, clinical Application Types, pharmaceutical discovery and manufacturing need robust instrumentation, analytics and HPC.
These technologies enable healthcare providers to collect and analyze patient data, identify genetic variations, and develop targeted therapies. The increasing availability of electronic health records (EHRs) and the adoption of cloud-based platforms are driving the growth of the precision medicine software market.
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Market Dynamics
The Increasing Market Developments are Fueling the Growth of the Global Precision Medicine Software Market The rising market developments such as product introductions, collaborations, acquisitions and others are boosting the global precision medicine software market growth in the forecast market.For instance, in May 2021, AdventHealth launched a data-driven precision medicine initiative and extended its genomics program to structure and merge longitudinal patient data with molecular testing data, building a dataset and disease network standards to assist the health system satisfactorily forecasting the growth of disorders and responses to therapies.
Also, in September 2021, AstraZeneca and Thermo Fisher Scientific collaborated to co-develop next-generation sequencing (NGS)-based companion diagnostics (CDx). Likewise, in March 2021, the National Institute of Health (NIH) funded the next iteration of a public-private alliance to advance precision medicine research for Alzheimers.
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Segment Analysis
In the application type segment, the intramuscular category is expected to have the highest market share of about 37.9% for the forecast period. Cancer precision medicine software is expected to dominate the global precision medicine software during the forecast period owing to the increasing incidences of cancer cases and market developments for cancer precision medicine. For instance, according to WHO statistics, cancer caused over 10 million deaths in 2020 and about 1 in 6 deaths were from cancer. About 70% of cancer deaths occurred in low- and middle-income countries; the most familiar kind of cancer are breast, with 2.26 million cases in 2020, lung cancer, with around 2.21 million cases in 2020 and colon & rectum cancers accounting for 1.93 million cases in 2020.
Competitive Landscape
A cloud-native software enterprise in the healthcare space, partnered with QIAGEN N.V. and expected to pair QIAseq reagent technology with the SOPHiA DDM platform to improve tumor analysis through next-generation sequencing (NGS). American Heart Association’s Precision Medicine Platform and Hitachi Vantara, the digital infrastructure, data management and digital solutions subsidiary of Hitachi, Ltd., together made Association’s Precision Medicine Platform precise and over-accessible to healthcare organizations for fast, efficient supercomputing data analysis research, even from a laptop computer.
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