North America Precision Oncology Market Size & Outlook
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North America precision oncology market highlights
- The North America precision oncology market generated a revenue of USD 50,955.7 million in 2024.
- The market is expected to grow at a CAGR of 9.8% from 2025 to 2030.
- In terms of segment, therapeutics was the largest revenue generating product in 2024.
- Diagnostics is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, U.S. is expected to register the highest CAGR from 2025 to 2030.
North America data book summary
| Market revenue in 2024 | USD 50,955.7 million |
| Market revenue in 2030 | USD 89,247.5 million |
| Growth rate | 9.8% (CAGR from 2025 to 2030) |
| Largest segment | Therapeutics |
| Fastest growing segment | Diagnostics |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Diagnostics, Therapeutics |
| Key market players worldwide | Thermo Fisher Scientific Inc, Invitae Corp, Qiagen NV, Illumina Inc, Exact Sciences Corp, Rain Oncology, Strata Oncology, Xilis, Variantyx, BioServe, Relay Therapeutics, Acrivon Therapeutics |
Other key industry trends
- In terms of revenue, North America region accounted for 44.0% of the global precision oncology market in 2024.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 50,287.5 million by 2030.
Therapeutics was the largest segment with a revenue share of 78.01% in 2024. Horizon Databook has segmented the North America precision oncology market based on diagnostics, therapeutics covering the revenue growth of each sub-segment from 2018 to 2030.
The market dominance can be attributed to the increasing availability of advanced diagnostic tools that enable personalized treatment approaches. For instance, in August 2024, Illumina Inc. announced the FDA approval of its TruSight Oncology comprehensive test, representing a significant advancement, analyzing over 500 genes in solid tumors to identify actionable biomarkers.
With its approval as a companion diagnostic for therapies like Bayer's VITRAKVI and Lilly's RETEVMO, the test enhances the precision of cancer care by matching patients with targeted treatments. Such innovations are propelling the growth of precision oncology in the region by improving diagnostic accuracy and expanding therapeutic options.
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Precision Oncology Market Scope
Precision Oncology Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Acrivon Therapeutics | View profile | 51-100 | Cambridge, Massachusetts, United States, North America | http://www.acrivon.com/ |
| Relay Therapeutics | View profile | 251-500 | Cambridge, Massachusetts, United States, North America | http://relaytx.com/ |
| BioServe | View profile | 51-100 | Beltsville, Maryland, United States, North America | https://bioserve.com |
| Variantyx | View profile | 101-250 | Framingham, Massachusetts, United States, North America | https://www.variantyx.com |
| Xilis | View profile | 51-100 | Durham, North Carolina, United States, North America | http://www.xilis.net |
| Strata Oncology | View profile | 51-100 | Ann Arbor, Michigan, United States, North America | http://www.strataoncology.com/ |
| Rain Oncology | View profile | 101-250 | Newark, California, United States, North America | https://www.rainoncology.com |
| Invitae Corp | View profile | 1700 | 1400 16th Street, San Francisco, CA, United States, 94103 | https://www.invitae.com |
| Exact Sciences Corp | View profile | 6600 | 5505 Endeavor Lane, Madison, WI, United States, 53719 | https://www.exactsciences.com |
| Qiagen NV | View profile | 5900 | Hulsterweg 82, Venlo, LI, Netherlands, 5912 PL | https://www.qiagen.com |
| Illumina Inc | View profile | 9300 | 5200 Illumina Way, San Diego, CA, United States, 92122 | https://www.illumina.com |
| Thermo Fisher Scientific Inc | View profile | 122000 | 168 Third Avenue, Waltham, MA, United States, 02451 | https://www.thermofisher.com |
North America precision oncology market size, by country, 2018-2030 (US$M)
North America Precision Oncology Market Outlook Share, 2024 & 2030 (US$M)
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