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According to our (Global Info Research) latest study, the global Precision Medicine market size was valued at USD 122490 million in 2023 and is forecast to a readjusted size of USD 226620 million by 2030 with a CAGR of 9.2% during review period.
According to the National Institutes of Health (NIH), 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 will allow 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, in which disease treatment and prevention strategies are developed for the average person, with less consideration for the differences between individuals.
Although the term "precision medicine" is relatively new, the concept has been a part of healthcare for many years. For example, a person who needs a blood transfusion is not given blood from a randomly selected donor; instead, the donor's blood type is matched to the recipient to reduce the risk of complications. Although examples can be found in several areas of medicine, the role of precision medicine in day-to-day healthcare is relatively limited. Researchers hope that this approach will expand to many areas of health in coming years.
The classification of precision medicine includes diagnostics and therapies, and the proportion of diagnostics is about 67%.
Precision Medicine is used for oncology, neurosciences, immunology, respiratory and other field. The most proportion of precision medicine is for oncology, and the market share is about 30%.
Market competition is intense. Johnson & Johnson, Roche, Labcorp, Abbott Laboratories and Novartis are the leaders of the industry, with about 56% market shares.
The Global Info Research report includes an overview of the development of the Precision Medicine industry chain, the market status of Oncology (Diagnostics, Therapies), Neurosciences (Diagnostics, Therapies), and key enterprises in developed and developing market, and analysed the cutting-edge technology, patent, hot applications and market trends of Precision Medicine.
Regionally, the report analyzes the Precision Medicine markets in key regions. North America and Europe are experiencing steady growth, driven by government initiatives and increasing consumer awareness. Asia-Pacific, particularly China, leads the global Precision Medicine market, with robust domestic demand, supportive policies, and a strong manufacturing base.
Key Features:
The report presents comprehensive understanding of the Precision Medicine market. It provides a holistic view of the industry, as well as detailed insights into individual components and stakeholders. The report analysis market dynamics, trends, challenges, and opportunities within the Precision Medicine industry.
The report involves analyzing the market at a macro level:
Market Sizing and Segmentation: Report collect data on the overall market size, including the revenue generated, and market share of different by Type (e.g., Diagnostics, Therapies).
Industry Analysis: Report analyse the broader industry trends, such as government policies and regulations, technological advancements, consumer preferences, and market dynamics. This analysis helps in understanding the key drivers and challenges influencing the Precision Medicine market.
Regional Analysis: The report involves examining the Precision Medicine market at a regional or national level. Report analyses regional factors such as government incentives, infrastructure development, economic conditions, and consumer behaviour to identify variations and opportunities within different markets.
Market Projections: Report covers the gathered data and analysis to make future projections and forecasts for the Precision Medicine market. This may include estimating market growth rates, predicting market demand, and identifying emerging trends.
The report also involves a more granular approach to Precision Medicine:
Company Analysis: Report covers individual Precision Medicine players, suppliers, and other relevant industry players. This analysis includes studying their financial performance, market positioning, product portfolios, partnerships, and strategies.
Consumer Analysis: Report covers data on consumer behaviour, preferences, and attitudes towards Precision Medicine This may involve surveys, interviews, and analysis of consumer reviews and feedback from different by Application (Oncology, Neurosciences).
Technology Analysis: Report covers specific technologies relevant to Precision Medicine. It assesses the current state, advancements, and potential future developments in Precision Medicine areas.
Competitive Landscape: By analyzing individual companies, suppliers, and consumers, the report present insights into the competitive landscape of the Precision Medicine market. This analysis helps understand market share, competitive advantages, and potential areas for differentiation among industry players.
Market Validation: The report involves validating findings and projections through primary research, such as surveys, interviews, and focus groups.
Market Segmentation
Precision Medicine market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of value.
Market segment by Type
- Diagnostics
- Therapies
Market segment by Application
- Oncology
- Neurosciences
- Immunology
- Respiratory
- Others
Market segment by players, this report covers
- Johnson & Johnson
- Roche
- Labcorp
- Abbott Laboratories
- Novartis
- Illumina
- GE Healthcare
- Intel Corporation
- Biomrieux Sa
- Cepheid
- IBM
- Qiagen
- Thermo Fisher Scientific
- Randox Laboratories
- Almac Group
- Healthcore
Market segment by regions, regional analysis covers
- North America (United States, Canada, and Mexico)
- Europe (Germany, France, UK, Russia, Italy, and Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Australia and Rest of Asia-Pacific)
- South America (Brazil, Argentina and Rest of South America)
- Middle East & Africa (Turkey, Saudi Arabia, UAE, Rest of Middle East & Africa)
The content of the study subjects, includes a total of 13 chapters:
Chapter 1, to describe Precision Medicine product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top players of Precision Medicine, with revenue, gross margin and global market share of Precision Medicine from 2019 to 2024.
Chapter 3, the Precision Medicine competitive situation, revenue and global market share of top players are analyzed emphatically by landscape contrast.
Chapter 4 and 5, to segment the market size by Type and application, with consumption value and growth rate by Type, application, from 2019 to 2030.
Chapter 6, 7, 8, 9, and 10, to break the market size data at the country level, with revenue and market share for key countries in the world, from 2019 to 2024.and Precision Medicine market forecast, by regions, type and application, with consumption value, from 2025 to 2030.
Chapter 11, market dynamics, drivers, restraints, trends and Porters Five Forces analysis.
Chapter 12, the key raw materials and key suppliers, and industry chain of Precision Medicine.
Chapter 13, to describe Precision Medicine research findings and conclusion.