Precision Oncology Market To Reach $201.96 Billion By 2030

Precision Oncology Market Growth & Trends

The global precision oncology market size is expected to reach USD 201.96 billion by 2030, registering a CAGR of 8.05% from 2025 to 2030, according to a new report by Grand View Research, Inc. Precision oncology is a growing field where the market products emphasize on molecular profiling of tumors to identify alterations in the gene. Currently, the industry has witnessed major success with a 95% response rate being observed in patients along with extended quality-adjusted life. The market products offer the potential for improved patient care and a better-informed decision-making experience in hospitals and clinics. Alternatively, the increasing prevalence of cancer across the globe, the rising number of clinical trial studies, and the rapid adoption of technology in precision oncology diagnostic is anticipated to boost the market demand.

Due to the COVID-19 pandemic, the precision oncology market had a huge impact as the pandemic exaggerated healthcare across the globe for people living with cancer, possessing a unique set of challenges. Besides, delayed diagnosis and therapeutics using precision oncology have affected cancer patient diagnosis and treatment to a major extent. However, post-COVID-19 pandemic, the market has gained rapid demand as precision oncology offers better therapeutic outcomes and improves the quality of patient life for cancer patients.

In January 2022, OncXerna Therapeutics, Inc. and Exact Sciences Corp. mentioned the agreement to introduce OncXerna’s TME Panel lab services for patients in the U.S. It is an innovative gene expression score, which helps identify patients to respond to immunotherapies and anti-angiogenic. Further, the company added that it believes to provide clinician access to the Xerna TME Panel through biopharma partners as a companion diagnostic and existing precision oncology team.

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Precision Oncology Market Report Highlights

• Based on product type, the therapeutics segment led the market with the largest revenue share of 71.3% in 2024, due to the increasing development and approval of targeted treatments tailored to specific genetic mutations.

• Based on cancer type, the breast cancer segment led the market with the largest revenue share of 41.7% in 2024, attributed to increasing awareness for breast cancer screening, diagnosis, and surgical and radiation techniques.

• Based on end-use, the hospitals and diagnostic segment led the market with the largest revenue share of 46.8% in 2024. In hospital and diagnostic, precision oncology products are garnering an increasing amount of interest worldwide as it emphases molecular profiling of tumors to identify alterations in the gene.

• North America precision oncology market dominated with the largest revenue share of 44.0% in 2024. The market dominance can be attributed to the increasing availability of advanced diagnostic tools that enable personalized treatment approaches.

Precision Oncology Market Segmentation

Grand View Research has segmented the precision oncology market on the basis of on product type, cancer type, end-use, and region:

Precision Oncology Product Type Outlook (Revenue, USD Million, 2018 - 2030)

• Diagnostics

• Therapeutics

Precision Oncology Cancer Type Outlook (Revenue, USD Million, 2018 - 2030)

• Breast Cancer

• Colorectal Cancer

• Cervical Cancer

• Prostate Cancer

• Lung Cancer

• Others

Precision Oncology End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals & Diagnostic Laboratories

• Pharmaceutical & Biotechnology Companies

• Healthcare Data Companies

Precision Oncology Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • Norway

  • Sweden

  • Denmark

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • Singapore

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in the Precision Oncology Market

• 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