According to recent findings, the Global Precision Medicine Market size was valued at around USD 48.8 Billion in 2023 & is estimated to grow at a CAGR of around 10.6% during the forecast period, i.e., 2024-30.
At MarkNtel Advisors, we continuously monitor and analyze industry trends to provide reliable insights that support informed decision-making and the key factors contributing to the market’s promising outlook.
Precision Medicine Overview:
In recent years, the lifestyle of individuals has drastically changed, as they are following unhealthy diets, consuming excessive alcohol, and rarely engaging in physical activities like sports. The transition of individuals toward unhealthy lifestyles has led to rising instances of chronic diseases like diabetes, cardiovascular diseases, etc. According to the British Heart Foundation, as of 2024, almost 110 million men & 80 million women are suffering from coronary heart disease. The higher prevalence of chronic illnesses across the globe is resulting in the requirement for accurate treatment & medicines to improve an individual’s health condition, driving the Precision Medicine Market.
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Precision Medicine Outlook and Future Trends :
Integration with Emerging Technologies Like Artificial Intelligence (AI) and Big Data Analytics – The demand for personalized medicine has significantly increased across the globe to address unmet medical needs. Companies have increasingly relied on technologies like machine learning, artificial intelligence, etc. to analyze the large volume of data, comprising genomic data, clinical data, imaging data, and patient outcomes.
Moreover, the amalgamation of these technologies is used for assessing environmental exposures, lifestyle factors, and disease biomarkers to analyze disease exposure, progression, and recurrence for any individual. This further helps hospitals & nursing homes develop targeted therapies for the consumer & provide appropriate treatment for the individual, reducing mortality rates. Therefore, the increasing integration of technologies like molecular imaging, pharmacogenomics, etc. to develop tailored medicine would further propagate the Precision Medicine Market in the coming years.
Global Precision Medicine Segmentation Analysis:
By Technology
- Big Data Analytics- Market Size & Forecast 2019-2030F, USD Million
- Bioinformatics- Market Size & Forecast 2019-2030F, USD Million
- Whole Genome Sequencing- Market Size & Forecast 2019-2030F, USD Million
- Companion Diagnostics- Market Size & Forecast 2019-2030F, USD Million
- Molecular Imaging- Market Size & Forecast 2019-2030F, USD Million
- Artificial Intelligence- Market Size & Forecast 2019-2030F, USD Million
- Others (Pharmacogenomics, Genetic Testing, etc.)- Market Size & Forecast 2019-2030F, USD Million
According to reports, Based on technology, big data analytics holds a significant share in the Global Precision Market owing to its advantages over other technologies like molecular imaging, whole genome sequencing, and others. Big data analytics helps pharmaceutical companies analyze patients’ illnesses to make informed, data-driven decisions.
By Solution Offering
- Consumables- Market Size & Forecast 2019-2030F, USD Million
- Reagents- Market Size & Forecast 2019-2030F, USD Million
- Assay Kits- Market Size & Forecast 2019-2030F, USD Million
- Instruments- Market Size & Forecast 2019-2030F, USD Million
- Real-Time PCR Machines- Market Size & Forecast 2019-2030F, USD Million
- Next-Generation Sequencing (NGS) Systems- Market Size & Forecast 2019-2030F, USD Million
- Microarray Scanners- Market Size & Forecast 2019-2030F, USD Million
- Others (Flow Cytometers, Imaging Systems, etc.) – Market Size & Forecast 2019-2030F, USD Million
- Services- Market Size & Forecast 2019-2030F, USD Million
- Genetic Testing and Counseling- Market Size & Forecast 2019-2030F, USD Million
- Pharmacogenomics Testing- Market Size & Forecast 2019-2030F, USD Million
- Cancer Genomic Profiling- Market Size & Forecast 2019-2030F, USD Million
By End User
- Pharmaceutical & Biotechnology Company- Market Size & Forecast 2019-2030F, USD Million
- Diagnostic Laboratories- Market Size & Forecast 2019-2030F, USD Million
- Healthcare IT- Market Size & Forecast 2019-2030F, USD Million
- Research Centers- Market Size & Forecast 2019-2030F, USD Million
- Healthcare Providers- Market Size & Forecast 2019-2030F, USD Million
- Others (Academic Institutes, Non-Profit Organization, etc.)- Market Size & Forecast 2019-2030F, USD Million
By Application
- Oncology- Market Size & Forecast 2019-2030F, USD Million
- Immunology- Market Size & Forecast 2019-2030F, USD Million
- Central Nervous System (CNS) – Market Size & Forecast 2019-2030F, USD Million
- Respiratory- Market Size & Forecast 2019-2030F, USD Million
- Gastroenterology- Market Size & Forecast 2019-2030F, USD Million
- Others (Endocrinology, Neurology, etc.)- Market Size & Forecast 2019-2030F, USD Million
According to reports, Over the past few years, air pollution has emerged as one of the pivotal environmental problems due to the rapid industrialization of developing economies and surging transportation activities.
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific.
According to reports, North America has a well-developed healthcare infrastructure with several state-of-the-art hospitals like the Mayo Clinic, Cleveland Clinic, research institutions, and medical centers.
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Some of the Market players in the Global Precision Medicine are:
- Hoffmann-La Roche Ltd.
- Astra Zeneca
- Qiagen
- Thermo Fisher Scientific Inc.
- Amgen Inc.
- Bayer AG
- Biogen Inc.
- Illumina Inc.
- Medtronic Plc
- Novartis Pharmaceutical Corporation
- Kailos Genetics, LLC.
- C2i Genomics
- Astarte Medical
- PerkinElmer Inc.
- Others.
Precision Medicine Recent Development:
- 2023: Hoffmann-La Roche Ltd. partnered with Janssen, a pharmaceutical company, to expand a wide range of services, including companion diagnostics, tissue and blood-based biomarkers, sequencing, and digital pathology.
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Key Highlights of the Report – Unlock Valuable Market Insights
- Market Size, Share & Future Projections – Understand the current market dimensions and forecasted growth trajectory.
- In-Depth Pricing Analysis – Get clarity on pricing trends and cost structures across segments.
- Company Strategies & Developments – Discover recent mergers, acquisitions, partnerships, and innovations.
- Key Stakeholders & Value Chain Insights – Identify the main players and their roles within the industry ecosystem.
- Import & Export Dynamics – Analyze global trade flows, regional export trends, and supply chain movements.
- Competitive Benchmarking – Gain a clear view of the leading companies and their market positioning.
- Emerging Growth Opportunities – Spot untapped areas and niche markets for potential investment.
- Market Trends & Growth Drivers – Stay ahead with insights into evolving consumer behavior and industry indicators.
Research Methodology Summary
A systematic approach is used to ensure accurate market insights, combining both bottom-up and top-down methods. Data triangulation validates findings from multiple angles.
Key Steps:
- Define objectives and research design
- Collect data through surveys and interviews
- Analyze and validate data using reliable tools
- Forecast trends and deliver actionable insights
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