Oncology Precision Medicine Market Analysis

The Global Oncology Precision Medicine Market is estimated to be valued at USD 141.11 billion in 2024 and is expected to reach USD 257.21 billion by 2031, growing at a compound annual growth rate (CAGR) of 8.8% from 2024 to 2031. Precision oncology focuses on therapies and diagnostics tailored for each patient's specific genes, environment, and lifestyle. The approach analyzes a patient's genetic makeup and matches them with available targeted therapies.

The market is expected to witness significant growth due to rising prevalence of cancer worldwide and increasing application of personalized medicine in oncology. Furthermore, advancements in genomics and availability of companion diagnostic tests are helping doctors provide customized treatment plans based on a deep understanding of an individual patient's tumor biology. Continuous research into understanding cancer at molecular level will further drive adoption of precision oncology practices.