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The global personalised medicine market size was estimated at USD 2.48 trillion in 2023 and is expected to grow over the forecast period of 2024-2032 at a CAGR of 11.2%. Personalised medicine promises a paradigm shift in the delivery of diagnosis as the therapy care is based on the information leveraged from an individual patient’s holistic perspective.
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Personalised medicine is a kind of medical care in which treatment is customised for an individual patient. The global personalised medicine market can be divided based on segments like technology, application, and product.
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The personalised medicine market can be broadly categorised based on its application into:
The industry can be divided on the basis of its technology like big data analytics, bioinformatics, gene sequencing, drug discovery, and companion diagnostics, among others. The industry can be divided based on its product as PM diagnostics, PM therapeutics, personalised medical care, and personalised nutrition and wellness. PM diagnostics is subdivided into genetic testing, direct-to-consumer (DTC) diagnostics, esoteric lab services, and esoteric lab tests. PM therapeutics is also further subdivided into pharmaceuticals, genomic medicine, and medical devices. Personalised medical care, meanwhile, is subdivided into telemedicine, health information technology, and disease management. Personalised nutrition and wellness can be further categorised into retail nutrition, complementary medicine, and alternative medicine.
The EMR report looks into the regional markets of personalised medicine like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific regions.
The proliferation of sequencing methodologies, in particular, Next Generation Sequencing, is anticipated to drive the personalised medicine market growth owing to the increasing sequencing costs and the growth of the Human Genome Project in the field of genomics. Increasing cancer incidence, which boosts the demand for personalised diagnosis of cancer and therapy, is also one of the main variables responsible for the personalised medicine market growth. The growing expenditure on cancer is also one of the drivers for the development of the personalised medicine market.
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The report presents a detailed analysis of the following key players in the global personalised medicine market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2017-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Technology |
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Breakup by Application |
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Breakup by Product |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global personalised medicine market attained a value of nearly USD 2.48 trillion.
The market is estimated to witness a healthy growth, expanding at a CAGR of 11.2% in the forecast period of 2024-2032.
The major drivers of the market include the advancements in sequencing methodologies, paradigm shift in the delivery of diagnosis, and the growth of the human genome project in the field of genomics.
The increasing prevalence of cancer is boosting the demand for personalised medical care and therapy, which is expected to be a key trend guiding the growth of the industry.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Big data analytics, bioinformatics, gene sequencing, drug discovery, and companion diagnostics, among others are the major technologies of the product in the market.
PM diagnostics (genetic testing, direct-to-consumer (DTC) diagnostics, esoteric lab services, and esoteric lab tests), PM therapeutics (pharmaceuticals, genomic medicine, and medical devices), personalised medical care (telemedicine, health information technology, and disease management), and personalised nutrition and wellness (retail nutrition, complementary medicine, and alternative medicine) are the different products available in the market.
Oncology, CNS, immunology, and respiratory, among others are the significant applications of the product in the market.
The major players in the industry are Illumina Inc., GE Healthcare, Pfizer Inc., Asuragen Incorporated, Novartis AG, Abbott Laboratories, among others.
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Philippines
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+63-287-899-028, +63-967-048-3306
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+44-753-713-2163
United States (Head Office)
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+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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