Precision Medicine Market, By Application, By Technology, By End User, By Geography

Description

The precision medicine market is estimated to be valued at USD 92.31 Bn in 2024 and is expected to reach USD 195.22 Bn by 2031, growing at a compound annual growth rate (CAGR) of 11.3% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2023/2024:	US$ 92.31 Bn
Historical Data for:	2019 To 2023	Forecast Period:	2024 to 2031
Forecast Period 2023/2024 to 2030/2031 CAGR:	11.30%	2030/2031 Value Projection:	US$ 195.22 Bn

Precision Medicine Market Share (%), By Region, 2024

Precision medicine is an emerging approach for disease treatment and prevention that takes into account individual variability in genes, environment, and lifestyle for each person. This approach allows doctors and researchers to predict more accurately which treatment and prevention strategies for a particular disease will work in which groups of people. It is in contrast to a one-size-fits-all approach, where disease treatment is a standardized approach for all people. Precision medicine integrates genetic information and molecular diagnostics to tailor medical treatments based on the individual characteristics of each patient. With greater knowledge of patients' genetic makeup, doctors can determine if certain medicines, lifestyle changes, or treatments will help or if different options may need to be considered depending on the individual. This allows researchers and healthcare providers to determine the safest treatment option tailored for each patient, leading to improved treatment outcomes. With continued research and development, precision medicine holds promise to transform healthcare through targeted disease prevention and treatment.

Market Dynamics:

The global precision medicine market is driven by the increasing demand for personalized healthcare, rise in R&D investments for precision therapeutics development, growing application of next-generation sequencing (NGS) in precision medicine, and surging demand for healthcare reduction. However, the lack of data interpretation & standardization and high cost of treatment are expected to restrain the market growth. Meanwhile, emerging economies offer high-growth opportunities for market players. Precision medicine approaches could help address several burgeoning healthcare challenges by offering targeted therapeutics with improved efficacy and reduced side-effects compared to conventional treatment methods. The growing adoption of companion diagnostics and inclusion of precision medicine in drug development activities also presents new opportunities.

Key Features of the Study:

This report provides an in-depth analysis of the global precision medicine market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year.
It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global precision medicine market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include Intomics, GENinCode, NanoString, Tepnel Pharma Services Limited, Pfizer Inc., Novartis AG, Teva Pharmaceutical Industries Ltd., Merck & Co. Inc, QIAGEN, Quest Diagnostics Incorporated, Medtronic, Thermo Fisher Scientific Inc., Laboratory Corporation of America Holdings, bioMerieux SA, F. Hoffmann-La Roche Ltd, Eli Lilly & Company, GlaxoSmithKline plc, Cepheid, AstraZeneca PLC, Myriad Genetics Inc., and Bristol-Myers Squibb Company
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
The global precision medicine market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global precision medicine market.

Market Segmentation

Technology:
- Bioinformatics
- Gene Sequencing
- Precision Molecular Diagnostics
- Big Data Analytics
- Others
Application:
- Oncology
- Breast Cancer
- Lung Cancer
- Prostate Cancer
- Colorectal Cancer
- Others
- Central Nervous System
- Hematology
- Immunology
- Respiratory
- Others
End User:
- Biopharmaceutical Companies
- Diagnostic Laboratories
- Academic & Research Institutions
- Others
Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Company Profiles:
- Intomics
- GENinCode
- NanoString
- Tepnel Pharma Services Limited
- Pfizer Inc.
- Novartis AG
- Teva Pharmaceutical Industries Ltd.
- Merck & Co. Inc
- QIAGEN
- Quest Diagnostics Incorporated
- Medtronic
- Thermo Fisher Scientific Inc.
- Laboratory Corporation of America Holdings
- bioMerieux SA
- Hoffmann-La Roche Ltd
- Eli Lilly & Company
- GlaxoSmithKline plc
- Cepheid
- AstraZeneca PLC
- Myriad Genetics Inc.
- Bristol-Myers Squibb Company

Product Code: CMI145

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snapshot, By Technology
- Market Snapshot, By Application
- Market Snapshot, By End User
- Market Snapshot, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
Drivers
Restraints
Market Opportunities
Impact Analysis
Market Trends
Acquisitions and Partnerships Scenario
Ongoing Developments
Porter's Analysis
PEST Analysis

4. Global Precision Medicine Market- Impact of Coronavirus (COVID-19) Pandemic

Overall Impact
Government Initiatives
COVID-19 Impact on the Market

5. Global Precision Medicine Market, By Technology, 2019 - 2031, (US$ Billion)

Overview
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Bioinformatics
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Billion)
Gene Sequencing
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Billion)
Drug Discovery
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Billion)
Precision Molecular Diagnostics
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Billion)
Big Data Analytics
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Billion)

6. Global Precision Medicine Market, By Application, 2019 - 2031, (US$ Billion)

Overview
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Oncology
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Billion)
Breast Cancer
Lung Cancer
Prostate Cancer
Colorectal Cancer
Others
Central Nervous System
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Billion)
Hematology
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Billion)
Immunology
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Billion)
Respiratory
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Billion)
Others
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Billion)

7. Global Precision Medicine Market, By Region, 2019 - 2031, (US$ Billion)

Introduction
Market Share Analysis, By Region, 2024 and 2031 (%)
Y-o-Y Growth Analysis, For Regions, 2019-2031
Regional Trends
North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Technology, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (US$ Billion)
U.S.
Canada
Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Technology, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (US$ Billion)
Brazil
Mexico
Argentina
Rest of Latin America
Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Technology, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (US$ Billion)
UK
Germany
Italy
France
Spain
Russia
Rest of Europe
Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Technology, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (US$ Billion)
China
India
Japan
ASEAN
Australia
South Korea
Rest of Asia Pacific
Middle East
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Technology, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (US$ Billion)
GCC
Israel
Rest of Middle East
Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Technology, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Country/Region, 2019 - 2031, (US$ Billion)
North Africa
Central Africa
South Africa

8. Competitive Landscape

Intomics
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
GENinCode
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
NanoString
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
Tepnel Pharma Services Limited
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
Pfizer Inc.
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
Novartis AG
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
Teva Pharmaceutical Industries Ltd.
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
Merck & Co., Inc
QIAGEN
Quest Diagnostics Incorporated
Medtronic
Thermo Fisher Scientific Inc.
Laboratory Corporation of America Holdings
bioMerieux SA
F. Hoffmann-La Roche Ltd
Eli Lilly & Company
GlaxoSmithKline plc
Cepheid
AstraZeneca PLC
Myriad Genetics, Inc.
Bristol-Myers Squibb Company

9. Analyst View

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. References and Research Methodology

References
Research Methodology
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