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Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....
Personalized Medicine Market was valued at US$ 322.6 billion in 2023 and is poised to grow at a significant CAGR of 7.8% from 2024 to 2030. Precision medicine, another name for personalized medicine, is a medical paradigm that classifies patients into distinct groups and then tailors medical decisions, practices, procedures, and products to each patient based on their anticipated response or risk of disease. This idea is referred to by several names, including personalized medicine, precision medicine, stratified medicine, and P4 medicine, however, some writers and organizations use them independently to highlight specific differences.
The global market provides a detailed overview of the personalized medicine market and that can be segmented by product type and region. By product type, the Personalized Medicine market has been segmented into Diagnostics, Therapeutics, Personalized Medical Care, and Personalized Nutrition & Wellness. The Diagnostics segment is likely to be the largest and fastest-growing segment in terms of connectivity according to Precision Business Insights.
Study Period
2024-2030Base Year
2023CAGR
7.8%Largest Market
North AmericanFastest Growing Market
Asia-Pacific
The growth of the market can be primarily attributed to the rising interest in biomarkers identification for therapy, diagnosis, and prognosis for personalized medicine development.
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 322.6 billion |
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Market CAGR |
7.8% |
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By Product Type |
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By Region |
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The personalized medicine market size was valued at US$ 322.6 billion in 2023 and is projected to expand at a CAGR of 11.2% during the forecast period
The major players in the global Personalized Medicine market are GE Healthcare, Illumina, Inc, Asuragen, Inc, Abbott Laboratories, Dako A/S, Exact Science Corp, Biogen, Inc, Lumenis Ltd.
Asia Pacific is the fastest-growing region for personalized medicine market
| 1. Executive Summary |
| 2. Global Personalized Medicine Market Introduction |
| 2.1. Global Personalized Medicine Market - Taxonomy |
| 2.2. Global Personalized Medicine Market - Definitions |
| 2.2.1. By Product Type |
| 3. Global Personalized Medicine Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Personalized Medicine Market Dynamic Factors - Impact Analysis |
| 4. Global Personalized Medicine Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Personalized Medicine Market, By Product Type, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1. Diagnostics |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.1.1 Genetic Testing |
| 5.1.1.1 Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.1.2 Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.1.3 Market Opportunity Analysis |
| 5.1.2 DTC Diagnostics |
| 5.1.2.1 Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.2.2 Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.2.3 Market Opportunity Analysis |
| 5.1.3 Esoteric Lab Services |
| 5.1.3.1 Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.3.2 Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3.3 Market Opportunity Analysis |
| 5.1.4 Esoteric Lab Tests |
| 5.1.4.1 Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.4.2 Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.4.3 Market Opportunity Analysis |
| 5.2. Therapeutics |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.1.5 Pharmaceutical |
| 5.1.5.1 Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.5.2 Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.5.3 Market Opportunity Analysis |
| 5.1.6 Genomic Medicine |
| 5.1.6.1 Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.6.2 Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.6.3 Market Opportunity Analysis |
| 5.1.7 Medical Devices |
| 5.1.7.1 Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.7.2 Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.7.3 Market Opportunity Analysis |
| 5.3. Personalized Medical Care |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.1.8 Telemedicine |
| 5.1.8.1 Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.8.2 Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.8.3 Market Opportunity Analysis |
| 5.1.9 Health Information Technology |
| 5.1.9.1 Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.9.2 Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.9.3 Market Opportunity Analysis |
| 5.1.10 Disease Management |
| 5.1.10.1 Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.10.2 Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.10.3 Market Opportunity Analysis |
| 5.4. Personalized Nutrition & Wellness |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.1.11 Retail Nutrition |
| 5.1.11.1 Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.11.2 Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.11.3 Market Opportunity Analysis |
| 5.1.12 Complementary Medicine |
| 5.1.12.1 Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.12.2 Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.12.3 Market Opportunity Analysis |
| 5.1.13 Alternative Medicine |
| 5.1.13.1 Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.13.2 Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.13.3 Market Opportunity Analysis |
| 6. Global Personalized Medicine Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.1. North America |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Europe |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Asia-Pacific |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Latin America |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Middle East and Africa |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Global Personalized Medicine Market - Opportunity Analysis Index, By Product Type and Region, 2022 - 2028 |
| 7. North America Personalized Medicine Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 7.1.1. Diagnostics |
| 7.1.1.1. Genetic Testing |
| 7.1.1.2. DTC Diagnostics |
| 7.1.1.3. Esoteric Lab Services |
| 7.1.1.4. Esoteric Lab Tests |
| 7.1.2. Therapeutics |
| 7.1.2.1. Pharmaceutical |
| 7.1.2.2. Genomic Medicine |
| 7.1.2.3. Medical Devices |
| 7.1.3. Personalized Medical Care |
| 7.1.3.1. Telemedicine |
| 7.1.3.2. Heath Information Technology |
| 7.1.3.3. Diseases Management |
| 7.1.4. Personalized Nutrition & Wellness |
| 7.1.4.1. Retail Nutrition |
| 7.1.4.2. Complementary Medicine |
| 7.1.4.3. Alternative Medicine |
| 7.2. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 7.2.1. U.S. |
| 7.2.2. Canada |
| 7.3. North America Personalized Medicine Market - Opportunity Analysis Index, By Product Type and Country, 2022 - 2028 |
| 7.4. North America Personalized Medicine Market Dynamics - Trends |
| 8. Europe Personalized Medicine Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1. Diagnostics |
| 8.1.1.1. Genetic Testing |
| 8.1.1.2. DTC Diagnostics |
| 8.1.1.3. Esoteric Lab Services |
| 8.1.1.4. Esoteric Lab Tests |
| 8.1.2. Therapeutics |
| 8.1.2.1. Pharmaceutical |
| 8.1.2.2. Genomic Medicine |
| 8.1.2.3. Medical Devices |
| 8.1.3. Personalized Medical Care |
| 8.1.3.1. Telemedicine |
| 8.1.3.2. Heath Information Technology |
| 8.1.3.3. Diseases Management |
| 8.1.4. Personalized Nutrition & Wellness |
| 8.1.4.1. Retail Nutrition |
| 8.1.4.2. Complementary Medicine |
| 8.1.4.3. Alternative Medicine |
| 8.2. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 8.2.1. Germany |
| 8.2.2. UK |
| 8.2.3. France |
| 8.2.4. Spain |
| 8.2.5. Italy |
| 8.2.6. Rest of Europe |
| 8.3. Europe Personalized Medicine Market - Opportunity Analysis Index, By Product Type and Country, 2022 - 2028 |
| 8.4. Europe Personalized Medicine Market Dynamics - Trends |
| 9. Asia-Pacific Personalized Medicine Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Diagnostics |
| 9.1.1.1. Genetic Testing |
| 9.1.1.2. DTC Diagnostics |
| 9.1.1.3. Esoteric Lab Services |
| 9.1.1.4. Esoteric Lab Tests |
| 9.1.2. Therapeutics |
| 9.1.2.1. Pharmaceutical |
| 9.1.2.2. Genomic Medicine |
| 9.1.2.3. Medical Devices |
| 9.1.3. Personalized Medical Care |
| 9.1.3.1. Telemedicine |
| 9.1.3.2. Heath Information Technology |
| 9.1.3.3. Diseases Management |
| 9.1.4. Personalized Nutrition & Wellness |
| 9.1.4.1. Retail Nutrition |
| 9.1.4.2. Complementary Medicine |
| 9.1.4.3. Alternative Medicine |
| 9.2. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.2.1. Japan |
| 9.2.2. China |
| 9.2.3. India |
| 9.2.4. Australia & New Zealand |
| 9.2.5. Rest of Asia-Pacific |
| 9.3. Asia-Pacific Personalized Medicine Market - Opportunity Analysis Index, By Product Type and Country, 2022 - 2028 |
| 9.4. Asia-Pacific Personalized Medicine Market Dynamics - Trends |
| 10. Latin America Personalized Medicine Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 10.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Diagnostics |
| 10.1.1.1. Genetic Testing |
| 10.1.1.2. DTC Diagnostics |
| 10.1.1.3. Esoteric Lab Services |
| 10.1.1.4. Esoteric Lab Tests |
| 10.1.2. Therapeutics |
| 10.1.2.1. Pharmaceutical |
| 10.1.2.2. Genomic Medicine |
| 10.1.2.3. Medical Devices |
| 10.1.3. Personalized Medical Care |
| 10.1.3.1. Telemedicine |
| 10.1.3.2. Heath Information Technology |
| 10.1.3.3. Diseases Management |
| 10.1.4. Personalized Nutrition & Wellness |
| 10.1.4.1. Retail Nutrition |
| 10.1.4.2. Complementary Medicine |
| 10.1.4.3. Alternative Medicine |
| 10.2. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.2.1. Brazil |
| 10.2.2. Mexico |
| 10.2.3. Rest of Latin America |
| 10.3. Latin America Personalized Medicine Market - Opportunity Analysis Index, By Product Type and Country, 2022 - 2028 |
| 10.4. Latin America Personalized Medicine Market Dynamics - Trends |
| 11. Middle East and Africa Personalized Medicine Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 11.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Diagnostics |
| 11.1.1.1. Genetic Testing |
| 11.1.1.2. DTC Diagnostics |
| 11.1.1.3. Esoteric Lab Services |
| 11.1.1.4. Esoteric Lab Tests |
| 11.1.2. Therapeutics |
| 11.1.2.1. Pharmaceutical |
| 11.1.2.2. Genomic Medicine |
| 11.1.2.3. Medical Devices |
| 11.1.3. Personalized Medical Care |
| 11.1.3.1. Telemedicine |
| 11.1.3.2. Heath Information Technology |
| 11.1.3.3. Diseases Management |
| 11.1.4. Personalized Nutrition & Wellness |
| 11.1.4.1. Retail Nutrition |
| 11.1.4.2. Complementary Medicine |
| 11.1.4.3. Alternative Medicine |
| 11.2. Country Analysis 2017 - 2021 and Forecast 2022 - 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.2.1. Gulf Cooperation Council (GCC) Countries |
| 11.2.2. Israel |
| 11.2.3. South Africa |
| 11.2.4. Rest of MEA |
| 11.3. MEA Personalized Medicine Market - Opportunity Analysis Index, By Product Type and Country, 2022 - 2028 |
| 11.4. MEA Personalized Medicine Market Dynamics - Trends |
| 12. Competition Landscape |
| 12.1. Strategic Dashboard of Top Market Players |
| 12.2. Company Profiles (Introduction, Financial Analysis, Product Type & Service Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 12.2.1. GE Healthcare |
| 12.2.2. Illumina, Inc |
| 12.2.3. Asuragen, Inc |
| 12.2.4. Abbott Laboratories |
| 12.2.5. Dako A/S |
| 12.2.6. Exact Science Corp |
| 12.2.7. Biogen, Inc |
| 12.2.8. Lumenis Ltd |
| 13. Research Methodology |
| 14. Key Assumptions and Acronyms |
Key Market Players
Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthcare domain, encompassing pharmaceuticals, medical devices, and diagnostics. A graduate in Pharmacy, he possesses a strong foundation in the intricacies of the healthcare sector. He further enhanced his expertise by pursuing an MBA in Pharmaceuticals, equipping him with valuable business acumen. His analytical skills and market insights have contributed to strategic decision-making and enhanced market positioning for various healthcare organizations. Committed to driving innovation and excellence, Muni continues to seek opportunities to improve healthcare delivery through data-driven insights.