PRECISION MEDICINE SOFTWARE MARKET ANALYSIS

Market Challenges And Opportunities

Global Precision Medicine Market Software Restraints

Product recall is the major challenge, which is expected to hinder the global precision medicine software market growth. For instance, in January 2018, Phillips Medical System Inc., received product recall letter from U.S Food and Drug Administration (FDA) for its Brilliance Big Core CT. This software is recalled as error has been detected in production of X-ray tubes. That may result in inability to generate Computed Tomography (CT) images.

Global Precision Medicine Software Market Drivers

New launches of bioinformatics platforms is expected to drive the global precision medicine software market growth. For instance, in January 2019, XIFIN launched its new precision medicine informatics platform (VisualSrata), which is helpful for the healthcare professionals to gain insights, make decisions, and improve patient care and outcome.

Furthermore, new molecular strategy launches is expected to propel the global precision medicine software market growth. For instance, in April 2018, Harvard’s Wyss Institute launched new molecular strategy (NuProbe). NuProbe is a type of DNA nanotechnology-based variant-detecting method. It is a fast, low-cost, and multiplexed molecular diagnostic tool for the diagnosis of various diseases including cancer and infectious diseases.

Moreover, launches of new genomic tools is expected to support the global precision medicine software market share. For instance, in September 2018, Ariel Precision Medicine, Inc. launched its new genomics tool ArielDx for personalized management and early diagnosis of pancreatic diseases.