Global Precision Medicine Market Research Report: Forecast (2024-2030)

Precision Medicine Market - By Technology (Big Data Analytics, Bioinformatics, Whole Genome Sequencing, Companion Diagnostics, Molecular Imaging, Artificial Intelligence, Others), By Solution Offering... ... By Solution Offering (Consumables, Instruments, Services), By End User (Pharmaceutical & Biotechnology Company, Diagnostic Laboratories, Healthcare IT, Research Centers, Healthcare Providers, Others), By Application (Oncology, Immunology, Central Nervous System [CNS], Respiratory, Gastroenterology, Others) and others Read more

  • Healthcare
  • Feb 2024
  • 203
  • PDF, Excel, PPT

Market Definition

Precision medicine is referred to as a personalized therapeutic approach used by biotech companies to manufacture medicine based on each individual’s genetic profile. The increasing instances of chronic illness across the globe are necessitating the adoption of a tailored healthcare approach.

Market Insights & Analysis: Global Precision Medicine Market (2024-30):

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. 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.

Report Coverage Details
Study Period Historical Data: 2019-22
Base Year: 2023
Forecast Period: 2024-30
CAGR (2024-2030) 10.6%
Regions Covered North America: US, Canada, Mexico
Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific
South America: Brazil, Argentina, Rest of South America
Middle East & Africa: UAE, Saudi Arabia, South Africa, Rest of MEA
Key Companies Profiled 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., and others
Market Value (2023) USD 48.8 Billion

 

Further, there has been an increase in the implementation of initiatives like Ayushman Bharat, the US National Health Initiative, etc., by the governments of countries like India, the US, etc., to improve their healthcare systems. Moreover, the governments of these countries are investing heavily to encourage healthcare facilities to adopt new technologies like artificial intelligence and data analytics to improve the diagnosis and treatment of patients; consequently, the Globe Precision Medicine Market.

Moreover, governments in several countries, like the UAE, Saudi Arabia, etc., are also facilitating the adoption of emerging diagnostic technologies to position themselves as one of the leading medical tourism hubs. For instance,

  • As per Vision 2030, the government of Saudi Arabia is investing around USD 65 billion to enhance the country's infrastructure and improve the quality of healthcare treatment for nationals & expatriates.

The increasing investments & efforts made by governments would further facilitate the adoption of precision medicine in medical facilities like hospitals & diagnostic centers. Subsequently, this would boost the size & volume of the Globe Precision Medicine Market during the forecast period.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Global Precision Medicine Market Trends & Development
  5. Global Precision Medicine Market Dynamics
    1. Drivers
    2. Challenges
  6. Global Precision Medicine Market Hotspot & Opportunities
  7. Global Precision Medicine Market Policies, Regulations, Product Standards
  8. Global Precision Medicine Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Technology
        1. Big Data Analytics- Market Size & Forecast 2019-2030F, USD Million
        2. Bioinformatics- Market Size & Forecast 2019-2030F, USD Million
        3. Whole Genome Sequencing- Market Size & Forecast 2019-2030F, USD Million
        4. Companion Diagnostics- Market Size & Forecast 2019-2030F, USD Million
        5. Molecular Imaging- Market Size & Forecast 2019-2030F, USD Million
        6. Artificial Intelligence- Market Size & Forecast 2019-2030F, USD Million
        7. Others (Pharmacogenomics, Genetic Testing, etc.)- Market Size & Forecast 2019-2030F, USD Million
      2. By Solution Offering
        1. Consumables- Market Size & Forecast 2019-2030F, USD Million
          1. Reagents- Market Size & Forecast 2019-2030F, USD Million
          2. Assay Kits- Market Size & Forecast 2019-2030F, USD Million
        2. Instruments- Market Size & Forecast 2019-2030F, USD Million
          1. Real-Time PCR Machines- Market Size & Forecast 2019-2030F, USD Million
          2. Next-Generation Sequencing (NGS) Systems- Market Size & Forecast 2019-2030F, USD Million
          3. Microarray Scanners- Market Size & Forecast 2019-2030F, USD Million
          4. Others (Flow Cytometers, Imaging Systems, etc.) - Market Size & Forecast 2019-2030F, USD Million
        3. Services- Market Size & Forecast 2019-2030F, USD Million
          1. Genetic Testing and Counseling- Market Size & Forecast 2019-2030F, USD Million
          2. Pharmacogenomics Testing- Market Size & Forecast 2019-2030F, USD Million
          3. Cancer Genomic Profiling- Market Size & Forecast 2019-2030F, USD Million
      3. By End User
        1. Pharmaceutical & Biotechnology Company- Market Size & Forecast 2019-2030F, USD Million
        2. Diagnostic Laboratories- Market Size & Forecast 2019-2030F, USD Million
        3. Healthcare IT- Market Size & Forecast 2019-2030F, USD Million
        4. Research Centers- Market Size & Forecast 2019-2030F, USD Million
        5. Healthcare Providers- Market Size & Forecast 2019-2030F, USD Million
        6. Others (Academic Institutes, Non-Profit Organization, etc.)- Market Size & Forecast 2019-2030F, USD Million
      4. By Application
        1. Oncology- Market Size & Forecast 2019-2030F, USD Million
        2. Immunology- Market Size & Forecast 2019-2030F, USD Million
        3. Central Nervous System (CNS) - Market Size & Forecast 2019-2030F, USD Million
        4. Respiratory- Market Size & Forecast 2019-2030F, USD Million
        5. Gastroenterology- Market Size & Forecast 2019-2030F, USD Million
        6. Others (Endocrinology, Neurology, etc.)- Market Size & Forecast 2019-2030F, USD Million
      5. By Region
        1. North America
        2. South America
        3. Europe
        4. The Middle East & Africa
        5. Asia-Pacific
      6. By Company
        1. Market Share of Top Companies
        2. Competition Characteristics
  9. North America Precision Medicine Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Technology- Market Size & Forecast 2019-2030F, USD Million
      2. By Solution Offering- Market Size & Forecast 2019-2030F, USD Million
      3. By End User- Market Size & Forecast 2019-2030F, USD Million
      4. By Application- Market Size & Forecast 2019-2030F, USD Million
      5. By Country
        1. The US
        2. Canada
        3. Mexico
    3. The US Precision Medicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030F, USD Million
        2. By Solution Offering- Market Size & Forecast 2019-2030F, USD Million
        3. By End User- Market Size & Forecast 2019-2030F, USD Million
    4. Canada Precision Medicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030F, USD Million
        2. By Solution Offering- Market Size & Forecast 2019-2030F, USD Million
        3. By End User- Market Size & Forecast 2019-2030F, USD Million
    5. Mexico Precision Medicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030F, USD Million
        2. By Solution Offering- Market Size & Forecast 2019-2030F, USD Million
        3. By End User- Market Size & Forecast 2019-2030F, USD Million
  10. South America Precision Medicine Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Technology- Market Size & Forecast 2019-2030F, USD Million
      2. By Solution Offering- Market Size & Forecast 2019-2030F, USD Million
      3. By End User- Market Size & Forecast 2019-2030F, USD Million
      4. By Application- Market Size & Forecast 2019-2030F, USD Million
      5. By Country
        1. Brazil
        2. Argentina
        3. Rest of South America
    3. Brazil Precision Medicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030F, USD Million
        2. By Solution Offering- Market Size & Forecast 2019-2030F, USD Million
        3. By End User- Market Size & Forecast 2019-2030F, USD Million
    4. Argentina Precision Medicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030F, USD Million
        2. By Solution Offering- Market Size & Forecast 2019-2030F, USD Million
        3. By End User- Market Size & Forecast 2019-2030F, USD Million
  11. Europe Precision Medicine Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Technology- Market Size & Forecast 2019-2030F, USD Million
      2. By Solution Offering- Market Size & Forecast 2019-2030F, USD Million
      3. By End User- Market Size & Forecast 2019-2030F, USD Million
      4. By Application- Market Size & Forecast 2019-2030F, USD Million
      5. By Country
        1. Germany
        2. The UK
        3. France
        4. Italy
        5. Spain
        6. Others
    3. Germany Precision Medicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030F, USD Million
        2. By Solution Offering- Market Size & Forecast 2019-2030F, USD Million
        3. By End User- Market Size & Forecast 2019-2030F, USD Million
    4. The UK Precision Medicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030F, USD Million
        2. By Solution Offering- Market Size & Forecast 2019-2030F, USD Million
        3. By End User- Market Size & Forecast 2019-2030F, USD Million
    5. France Precision Medicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030F, USD Million
        2. By Solution Offering- Market Size & Forecast 2019-2030F, USD Million
        3. By End User- Market Size & Forecast 2019-2030F, USD Million
    6. Italy Precision Medicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030F, USD Million
        2. By Solution Offering- Market Size & Forecast 2019-2030F, USD Million
        3. By End User- Market Size & Forecast 2019-2030F, USD Million
    7. Spain Precision Medicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030F, USD Million
        2. By Solution Offering- Market Size & Forecast 2019-2030F, USD Million
        3. By End User- Market Size & Forecast 2019-2030F, USD Million
  12. The Middle East & Africa Precision Medicine Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Technology- Market Size & Forecast 2019-2030F, USD Million
      2. By Solution Offering- Market Size & Forecast 2019-2030F, USD Million
      3. By End User- Market Size & Forecast 2019-2030F, USD Million
      4. By Application- Market Size & Forecast 2019-2030F, USD Million
      5. By Country
        1. The UAE
        2. Saudi Arabia
        3. South Africa
        4. Rest of the Middle East & Africa
    3. The UAE Precision Medicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030F, USD Million
        2. By Solution Offering- Market Size & Forecast 2019-2030F, USD Million
        3. By End User- Market Size & Forecast 2019-2030F, USD Million
    4. Saudi Arabia Precision Medicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030F, USD Million
        2. By Solution Offering- Market Size & Forecast 2019-2030F, USD Million
        3. By End User- Market Size & Forecast 2019-2030F, USD Million
    5. South Africa Precision Medicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030F, USD Million
        2. By Solution Offering- Market Size & Forecast 2019-2030F, USD Million
        3. By End User- Market Size & Forecast 2019-2030F, USD Million
  13. Asia-Pacific Precision Medicine Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Technology- Market Size & Forecast 2019-2030F, USD Million
      2. By Solution Offering- Market Size & Forecast 2019-2030F, USD Million
      3. By End User- Market Size & Forecast 2019-2030F, USD Million
      4. By Application- Market Size & Forecast 2019-2030F, USD Million
      5. By Country
        1. China
        2. India
        3. Japan
        4. Australia
        5. South Korea
        6. Rest of Asia-Pacific
    3. China Precision Medicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030F, USD Million
        2. By Solution Offering- Market Size & Forecast 2019-2030F, USD Million
        3. By End User- Market Size & Forecast 2019-2030F, USD Million
    4. India Precision Medicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030F, USD Million
        2. By Solution Offering- Market Size & Forecast 2019-2030F, USD Million
        3. By End User- Market Size & Forecast 2019-2030F, USD Million
    5. Japan Precision Medicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030F, USD Million
        2. By Solution Offering- Market Size & Forecast 2019-2030F, USD Million
        3. By End User- Market Size & Forecast 2019-2030F, USD Million
    6. Australia Precision Medicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030F, USD Million
        2. By Solution Offering- Market Size & Forecast 2019-2030F, USD Million
        3. By End User- Market Size & Forecast 2019-2030F, USD Million
    7. South Korea Precision Medicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology- Market Size & Forecast 2019-2030F, USD Million
        2. By Solution Offering- Market Size & Forecast 2019-2030F, USD Million
        3. By End User- Market Size & Forecast 2019-2030F, USD Million
  14. Global Precision Medicine Market Key Strategic Imperatives for Success & Growth
  15. Competition Outlook
    1. Company Profile
      1. Hoffmann-La Roche Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      2. Astra Zeneca
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      3. Qiagen
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      4. Thermo Fisher Scientific Inc.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      5. Amgen Inc.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      6. Bayer AG
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      7. Biogen Inc.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      8. Illumina Inc.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      9. Medtronic Plc
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
      10. Novartis Pharmaceutical Corporation
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      11. Kailos Genetics, LLC.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      12. C2i Genomics
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      13. Astarte Medical
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      14. PerkinElmer Inc.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      15. Others
  16. Disclaimer


MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

Data Trangulation

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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