PUBLISHER: The Business Research Company | PRODUCT CODE: 1855988
PUBLISHER: The Business Research Company | PRODUCT CODE: 1855988
Smart precision medicine software refers to advanced digital platforms that analyze complex patient data to support personalized medical decisions. It integrates clinical, genomic, and health information to generate actionable insights for optimized treatment strategies. Smart precision medicine software enhances the accuracy of decision making and improves patient outcomes through data driven intelligence. Its primary advantage lies in delivering tailored healthcare recommendations efficiently and consistently.
The primary types of smart precision medicine software are data analysis, data management, and others. Data analysis involves examining complex biological and clinical datasets to extract actionable insights for personalized patient care. The supporting technologies include artificial intelligence and machine learning, bioinformatics tools, cloud computing solutions, blockchain technology, and wearable technology integration. Delivery modes include on premise solutions, cloud based solutions, hybrid solutions, mobile applications, and software as a service. Applications cover clinical decision support systems, genetic disease management, personalized drug discovery, therapeutic monitoring, and patient management solutions. End users include healthcare providers, pharmaceutical companies, research organizations, diagnostic laboratories, and healthcare information technology vendors.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The sudden escalation of U.S. tariffs and the consequent trade frictions in spring 2025 are severely impacting the healthcare sector, particularly in the supply of critical medical devices, diagnostic equipment, and pharmaceuticals. Hospitals and healthcare providers are facing higher costs for imported surgical instruments, imaging equipment, and consumables such as syringes and catheters, many of which have limited domestic alternatives. These increased costs are straining healthcare budgets, leading some providers to delay equipment upgrades or pass on expenses to patients. Additionally, tariffs on raw materials and components are disrupting the production of essential drugs and devices, causing supply chain bottlenecks. In response, the industry is diversifying sourcing strategies, boosting local manufacturing where possible, and advocating for tariff exemptions on life-saving medical products.
The smart precision medicine software market research report is one of a series of new reports from The Business Research Company that provides smart precision medicine software market statistics, including smart precision medicine software industry global market size, regional shares, competitors with a smart precision medicine software market share, detailed smart precision medicine software market segments, market trends and opportunities, and any further data you may need to thrive in the smart precision medicine software industry. The smart precision medicine software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The smart precision medicine software market size has grown rapidly in recent years. It will grow from $2.89 billion in 2024 to $3.42 billion in 2025 at a compound annual growth rate (CAGR) of 18.0%. The growth during the historic period was driven by rising adoption of electronic health records, increasing investment in genomics research, growing prevalence of chronic diseases, advancements in bioinformatics tools, and early integration of clinical decision support systems.
The smart precision medicine software market size is expected to see rapid growth in the next few years. It will grow to $6.55 billion in 2029 at a compound annual growth rate (CAGR) of 17.7%. The growth during the forecast period is fueled by growing demand for personalized healthcare, expansion of artificial intelligence and machine learning in diagnostics, greater focus on preventive medicine, rising adoption of wearable health devices, and integration of multi-omics data for treatment planning. The primary trends in the forecast period include advancement in AI driven diagnostics, development of cloud based healthcare platforms, innovation in multi-omics data integration, progress in patient centric care models, and development of predictive healthcare analytics.
The increasing need for personalized healthcare is expected to drive the growth of the smart precision medicine software market. Personalized healthcare focuses on customizing medical treatments based on a person's unique genetic, environmental, and lifestyle factors. Advances in genomic and molecular profiling are fueling this trend, enabling treatments that are better suited to an individual's genetic makeup, improving treatment effectiveness and reducing side effects. Smart precision medicine software aids in this process by analyzing genetic, clinical, and lifestyle data to recommend tailored treatment plans, enhance decision-making, predict therapy responses, and improve patient outcomes. According to the Personalized Medicine Coalition in February 2024, the FDA approved 16 new personalized treatments for rare disease patients in 2023, compared to six in 2022. This growing demand for personalized healthcare is propelling the smart precision medicine software market forward.
Leading companies in the smart precision medicine software market are investing in advanced technologies, such as care pathway intelligence platforms, to optimize clinical decision-making and improve patient outcomes. These platforms analyze patient data to create personalized treatment pathways, enhancing care efficiency. For example, in April 2024, Tempus, a US-based AI and precision medicine provider, launched Tempus Next, an AI-powered care pathway platform. The platform leverages AI to identify care gaps and provides clinicians with real-time, guideline-based insights, using multimodal data from electronic health records to speed up the adoption of precision medicine and improve patient care. Initially focused on oncology, including lung and breast cancer, it has helped thousands of patients across healthcare networks by addressing critical care gaps and enabling personalized treatment decisions.
In May 2025, GeneDx, a US-based leader in genomic health solutions, acquired Fabric Genomics to enhance its AI-powered genomic testing capabilities. This acquisition strengthens GeneDx's position in decentralized genomic testing, particularly for neonatal and pediatric care. Fabric Genomics specializes in AI-driven genomic interpretation, which will expand GeneDx's offerings in this growing field.
Major players in the smart precision medicine software market are Oracle Corporation, Siemens Healthineers AG, IQVIA Holdings Inc, Agilent Technologies Inc, Illumina Inc, Epic Systems Corporation, Athenahealth, Tempus AI Inc, Flatiron Health Inc, Human Longevity Inc, SOPHiA GENETICS SA, Velsera Inc, Bionano Genomics Inc, PierianDx Inc, 2bPrecise Inc, Translational Software Inc, Golden Helix Inc, PhenoTips Inc, bio.logis digital health GmbH, Geneyx Genomex Ltd.
North America was the largest region in the smart precision medicine software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in smart precision medicine software report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the smart precision medicine software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The smart precision medicine software market consists of revenues earned by entities by providing services such as patient data analytics, AI-driven treatment recommendations, clinical decision support solution, personalized therapy planning, and integration with healthcare systems for optimized patient outcomes. The market value includes the value of related goods sold by the service provider or included within the service offering. The smart precision medicine software market also includes sales of genomic analysis platforms, AI-based diagnostic software, treatment optimization applications, and patient management systems. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Smart Precision Medicine Software Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on smart precision medicine software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for smart precision medicine software ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The smart precision medicine software market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.