GE HealthCare-Mayo MI-BET Collaboration Targets Precision Oncology Growth
The GE HealthCare-Mayo MI-BET collaboration advances biomarker-guided prostate cancer therapy. The precision oncology market, valued at $122.6B in 2025, is projected to reach $317.2B by 2034, fueled by genomics and targeted treatments.
In early July 2026, GE HealthCare and Mayo Clinic announced the MI-BET research collaboration to explore more personalized radioligand therapy for advanced prostate cancer patients using GE HealthCare’s StarGuide SPECT/CT and biomarker data. The broader precision oncology market, encompassing biomarker-guided diagnostics and therapies, was valued at $122.60 billion in 2025 and is projected to grow from $133.06 billion in 2026 to $317.16 billion by 2034, reflecting an 11.47% CAGR.
The MI-BET collaboration, based at Mayo Clinic’s Rochester campus, integrates imaging and blood-based biomarkers to potentially inform adaptive treatment pauses, supporting more tailored, data-driven theranostics. This approach strengthens GE HealthCare’s role in precision oncology tools.
The precision oncology market’s growth is driven by the escalating global cancer burden, wider adoption of companion diagnostics and next-generation sequencing (NGS), and increasing use of targeted therapies and biomarker-guided immunotherapies across lung, breast, colorectal, prostate, melanoma, and blood cancers. Comprehensive genomic profiling, liquid biopsy, and molecular tumor board-guided decisions are also expanding as healthcare systems seek greater treatment accuracy and efficiency.
A key trend is the shift from single-marker assessments to comprehensive genomic and biomarker profiling, enabling clinicians to match patients with appropriate treatments and clinical trials. Companion diagnostics remain critical, as the FDA classifies them as providing information essential for the safe and effective use of corresponding drugs or biologics. The use of NGS and liquid biopsy is helping identify actionable alterations more quickly and non-invasively.
Major participants in the market include F. Hoffmann-La Roche Ltd, Guardant Health, Inc., TEMPUS, Caris Life Sciences, Illumina Inc., and others, focusing on companion diagnostics, genomic profiling, liquid biopsy platforms, targeted oncology drugs, and biomarker-guided immunotherapies.
Despite the growth, high costs and reimbursement uncertainty present significant challenges. Precision oncology often requires expensive genomic tests, companion diagnostics, and targeted therapies, which can strain providers, payers, and patients, particularly in less mature markets where coverage may be inconsistent or delayed.