The global precision oncology market was valued at USD 115.32 million in 2024 and is projected to reach USD 250.35 million by 2034, registering a CAGR of 8.06% from 2025 to 2034. The global precision oncology market growth is attributed to the increasing demand for diagnostics products providing effective clinical results and rising advancements in technology.
Precision Oncology Market Key Takeaways:
· Based on product type, the therapeutics segment led the market with the largest revenue share of 71.3% in 2024.
· The diagnostics segment is anticipated to grow at the fastest CAGR of 8.6% over the forecast period.
· Based on cancer type, the breast cancer segment led the market with the largest revenue share of 41.7% in 2024.
· The cervical cancer segment is anticipated to witness at the fastest CAGR of 8.7% over the forecast period.
· Based on end-use, the hospitals and diagnostic segment led the market with the largest revenue share of 47.0% in 2024.
· The pharmaceutical & biotechnology companies’ segment is anticipated to witness at the fastest CAGR of 8.5% over the forecast period.
· North America precision oncology market dominated with the largest revenue share of 45.0% in 2024.
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U.S. Precision Oncology Market Size and Growth 2025 to 2034
The U.S. precision oncology market size is evaluated at USD 38.9 million in 2024 and is projected to be worth around USD 84.5 million by 2034, growing at a CAGR of 7.3% from 2025 to 2034.
Presence of Market Players: North America to Sustain as a Leader
North America precision oncology market dominated with the largest revenue share of 44.0% in 2024. The market growth in the region is attributed to the increasing availability of advanced diagnostic tools that allow personalized treatment approaches. Various market players improve the precision of cancer by matching patients with targeted treatments. By expanding therapeutic options and improving diagnostic accuracy, such innovations are further driving the market growth in the region.
The U.S. Precision Oncology Market Trends
The U.S. is dominated the market share in 2024. The market growth in the U.S. is driven by the increasing demand for personalized cancer treatments, the growing adoption of precision therapies, and approvals for innovative treatment regimens for various cancers.
Asian Countries to Boom with Rising Emphasis over Research & Development
Asia Pacific is expected to grow fastest during the forecast period. The rising advancements in precision oncology, improved access to advanced treatments, increasing emphasis on cervical cancer, and increasing focus on collaborative international efforts to enhance research and cancer care are expected to drive the growth of precision oncology in the region. In addition, market players are focused on enhancing support for cancer treatment, detection, and prevention, expanding research collaborations, and improving health infrastructure, which further contribute to enhancing the market demand.
India Precision Oncology Market Trends
India is expected to grow fastest during the forecast period. The market growth in India is attributed to the growing capabilities in biotechnology, increased access to advanced treatments, rising advancements in cancer treatment, and the development of affordable and accessible innovative therapies.
· In January 2024, Apollo Cancer Centre, Bengaluru, launched the first AI-Precision Oncology Centre (POC) in India. The Centre will help oncologists, patients, and caregivers to arrive at the best possible results in a time-bound manner, using the enormous possibilities offered by AI.
The precision oncology market deals with molecular profiling of tumors to find changes that can be targeted. Precision oncology is an interesting and dynamic industry of study that is increasingly finding its way into conventional oncology practice. Targeted medicines can prevent cancer cells carrying that genetic biomarker from developing and proliferating, by reducing side effects and protecting healthy cells.
In addition, increasing investment in discovering new diagnostics along with growing efforts by numerous players, the rising prevalence of cancer across the globe, and the increasing availability of genomic sequencing technologies are further expected to drive the market growth.
One of the major opportunities driving the growth of the precision oncology market is rising integration with other technologies. The adoption of precision oncology with other technologies such as digital health tools and nig data analytics has the potential to accelerate drug development and improve patient outcomes. Nanotechnology has been employed as a tool to increase the precision of cancer treatment with technological breakthroughs. These advanced factors are expected to transform market growth.
Artificial intelligence can play an important role in improving precision oncology. AI-generated precision oncology helps accelerate drug development and improve patient outcomes. Integrating AI with nanotechnology has enhanced the accuracy of the rational design of treatment and diagnostic platforms. AI has also spurred the development of new assays for predicting responses to specific treatments and characterizing cancer prognostication, which is further expected to revolutionize the growth of the precision oncology market.
Precision Oncology Market Report Scope
|
Report Attribute |
Details |
|
Market size value in 2025 |
USD 124.61 Million |
|
Revenue forecast in 2034 |
USD 250.35 Million |
|
Growth rate |
CAGR of 8.06% from 2025 to 2034 |
|
Base year for estimation |
2024 |
|
Historical data |
2018 - 2024 |
|
Forecast period |
2025 - 2034 |
|
Quantitative units |
Revenue in USD million/billion and CAGR from 2025 to 2034 |
|
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
|
Segments covered |
Product Type, Cancer Type, End-use, Region |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; MEA |
|
Country scope |
U.S.; Canada; Mexico; Germany; UK; France; Spain; Italy; Denmark; Sweden; Norway; China; Japan; India; South Korea; Australia; Thailand; Brazil; Argentina; Saudi Arabia; Kuwait; UAE; South Africa |
|
Key companies profiled |
Thermo Fisher Scientific Inc.; Invitae Corporation; Qiagen N.V.; Illumina, Inc.; Laboratory Corporation Of America Holding; Exact Sciences Corporation; Rain Oncology Inc.; Strata Oncology, Inc.; Xilis, Inc.; Variantyx, Inc.; Bioserve; Relay Therapeutics; Acrivon Therapeutics. |
|
Customization scope |
Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
Segment Insights By Product Insights Based on product type, the therapeutics
segment led the market with the largest revenue share of 71.3% in 2024. The
segment growth in the market is attributed to the increasing approval and
development of targeted treatments employed for specific genetic mutations. In
addition, Itovebi addresses an unmet need for a challenging and common mutation
in breast cancer and significantly improved progression-free survival. These
advancements play an important role in therapeutic innovation. ·
For instance, in October 2024, Passkey
Therapeutics launched a new class of medicines, Synergistic Multifunctional
Therapeutics. By targeting rare combinations of proteins that work together,
this therapeutic is designed to address complex diseases. The diagnostics
segment is anticipated to grow at the fastest CAGR of 8.6% over the forecast
period. The segment growth in the market is attributed to the rising
advancements in AI-generated technologies that allow more personalized
and accurate care. The diagnostic tools enable clinicians to identify specific
biomarkers and provide high-value insights that enhance pathology. Such
innovations create significant opportunities in the precision oncology market
and improve clinical outcomes. By Cancer Type Insights Based on cancer type, the breast cancer
segment led the market with the largest revenue share of 41.7% in 2024. The
segment growth in the market is attributed to the increasing early cancer
detection, increasing research activities, and increasing awareness for breast
cancer radiation and surgical techniques and diagnosis and screening. Precision
oncology in breast
cancer includes the incorporation of human epidermal and hormone
receptor growth factor receptor-2 (HER2) expression, then genomic signatures,
to guide targeted therapy and chemotherapy options. ·
For instance, in February 2025, the U.K.’s Department of Health and Social Care
announced that nearly 700,000 women across the U.K. will take part in a
world-leading trial to test how cutting-edge AI tools can be used to catch
breast cancer cases. The cervical
cancer segment is anticipated to witness at the fastest CAGR of 8.7%
over the forecast period. The segment growth in the market is attributed to the
rising advancements in targeted therapies that provide enhanced survival
outcomes for patients and growing product launches, research funding, and
research projects. Clinicians can ensure reproductive health and eliminate
cervical cancer of the women, by raising awareness on early detection and
treatment of CC. ·
For instance, in September 2024, to help end cancer such as cervical cancer,
Japan, India, Australia, and the U.S. launched a groundbreaking effort Quad
Cancer Moonshot. By End-use Insights Based on end-use, the hospitals and
diagnostic segment led the market with the largest revenue share of 47.0% in
2024. The segment growth in the precision oncology market is attributed to the
increasing emergence of hospital and diagnostics laboratories and the
increasing focus on components such as precise treatment, monitoring,
precise diagnosis, and precision planning. The pharmaceutical
& biotechnology companies segment is anticipated to witness at the
fastest CAGR of 8.5% over the forecast period. The segment growth in the market
is driven by increasing large-scale projects that support drug development
programs. Furthermore, to address the changing customer requirements, biotechnology,
and pharmaceutical
manufacturers focus on developing customized end-to-end solutions. Immediate Delivery is Available | Get
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Some of the prominent players in the
precision oncology market include: ·
Thermo Fisher Scientific
Inc. ·
Qiagen N.V. ·
Laboratory Corporation Of America Holding ·
Exact Sciences Corporation ·
Xilis, Inc. ·
Variantyx, Inc. ·
Bioserve ·
Relay Therapeutics ·
Acrivon Therapeutics Precision Oncology Market Recent
Developments ·
In August 2024,
The Biden-Harris Administration’s ARPA-H has launched the POSEIDON program to
develop a first-of-its-kind, at-home synthetic Multi-Cancer-Early Detection
(MCED) test for detecting 30+ solid tumors at stage I using breath and/or urine
samples. This initiative is part of the Biden Cancer Moonshot’s goal to
significantly impact the global market by enhancing early detection and
broadening access to cancer screening. ·
In August 2024,
ImCheck Therapeutics was awarded €20.18 million in non-dilutive funding
through the “i-Démo” initiative of the France 2030 Plan, managed by Bpifrance.
The funding will accelerate the development of ICT01, a γ9δ2 T cell-activating
antibody in Phase I/IIa trials for cancer, and support the clinical advancement
of ICT41 for infectious diseases. ·
In May 2024,
Clasp Therapeutics launched with USD150 million in Series A financing, co-led
by Catalio Capital Management, Third Rock Ventures, and Novo Holdings. The
company’s platform develops next-generation T cell engagers tailored to
oncogenic driver mutations for highly specific tumor targeting, enhancing
treatment precision and reducing off-target effects, further advancing
personalized cancer care. Segments Covered in the Report This report forecasts revenue growth at
country levels and provides an analysis of the latest industry trends in each
of the sub-segments from 2021 to 2034. For this study, Nova one advisor, Inc.
has segmented the precision oncology market By Product Type ·
Diagnostics ·
Therapeutics By Cancer Type ·
Breast Cancer ·
Colorectal Cancer ·
Cervical Cancer ·
Prostate Cancer ·
Lung Cancer ·
Others By End-use ·
Hospitals & Diagnostic Laboratories ·
Pharmaceutical & Biotechnology Companies ·
Healthcare Data Companies By Regional ·
North America ·
Europe ·
Asia Pacific ·
Latin America ·
Middle East and Africa (MEA) Immediate Delivery Available | Buy This
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