Personalized Medicine Market, Size, Share, Forecast 2023-2027, Industry Trends, Growth, Insight, Impact of Inflation, Company Analysis

Personalized Medicine Market, Size, Share, Forecast 2023-2027, Industry Trends, Growth, Insight, Impact of Inflation, Company Analysis

Personalized Medicine Market will reach US$ 155.76 Billion by 2027. Personalized medicine is a medical approach to disease prevention and diagnosis based on behavioral, environmental, and genetic variability. Personalized medicine has earned popularity due to positive results obtained by precision medicine in treating cancer. It allows researchers and doctors to predict more precise treatment and make preventive strategies for any disease.

Personalized medicine is also known as individualized or Precision medicine, which targets the mutations of normal body cells into cancerous cells. The use of precision medicine, specifically in cancer, has fewer side effects with quick recovery than conventional drugs. According to our research findings worldwide Personalized medicine industry is anticipated to be valued at US$ 89.49 billion in 2022.

The Personalized Medicine Industry is Predicted to Grow with a CAGR of 11.72% from (2022 – 2027)

Precision medicine procedures are in high demand worldwide because of the increasing prevalence of cancer and the expanding number of treatment candidates in clinical trials. Furthermore, the rising number of genetic disease cases will be a significant factor influencing the growth of the precision medicine market.

Along with this, rising disposable income and increasing urbanization are the driving factors accelerating the development of the precision medicine market. Also, the increasing geriatric population and expenditure on healthcare infrastructure are the major market drivers that will further escalate the growth of the precision medicine market. For instance, In February 2022, Oncodesign and SEngine Precision Medicine Inc. announced a research collaboration agreement to develop a new tailored cancer treatment for aggressive and untreatable cancers.

Increasing Technological Advancements

Increasing technological developments, such as the launch of diagnostic tools that will help doctors evaluate or carry out the proper diagnosis of a disease and subsequently guide patients with appropriate therapy, are expected to drive market growth over the analyzed period. For instance, in February 2022, Invitae Corporation, a company in medical genetics, announced the launch of LiquidPlex Dx and FusionPlex Dx in Europe as part of its in-vitro diagnostic (IVD) products. Invitae is a significant provider of high-quality innovation for precision oncology in the fight against cancer. The LiquidPlex and FusionPlex tests will allow more patients to access the right cancer therapy at the right time.

Rising Number of Personalized Medicine Therapies will boost the Market's Progression:

The therapeutics segment in the personalized medicine market is slated to witness a double digit growth rate over the forecast period. There has been continual growth in precision therapeutics for the targeted treatment of conditions like genetic diseases and cancer. Moreover, companies are also involved in developing targeted therapies for various indications, including gastroenterology, infectious diseases, and cardiovascular diseases. The increasing usage of drugs in precision medicine treatment plans and the development of novel drugs will propel the growth of the therapeutics segment.

Analysis by End-Use:

The diagnostic segment is anticipated to expand at a high CAGR during 2022-27, owing to an increase in the count of diagnostic centers worldwide. Some factors influencing the industry's evolution are advancements in diagnostic techniques, state-of-the-art infrastructure, and the best available services to the patient population. Furthermore, there has been an increase in general awareness of the necessity of diagnostics. The growing need for predictive diagnostic testing for pulmonary illnesses, cancer, and genetic disorders, among others, will drive Precision Medicine Market growth.

Global Personalized Medicine Market Regional Insights:

The North American personalized medicine industry is expected to account for a significant revenue share in 2022 because of the rising prevalence of genetic disorders and cancer, the growing use of precision medicine approaches, and the companies such as Quest Diagnostics, Pfizer, Roche, and Qiagen in the region.

Cancer is Canada's top cause of mortality and the second-highest cause of death in the US, as stated by the American Cancer Society. In the US, about 1.8 Billion new cancer cases were diagnosed in 2020. Therefore, the region's high awareness of precision medicine and rising demand for tailored cancer therapy will drive industry revenue.

Impact of COVID-19 on Precision Medicine Market:

The global health crisis has resulted in the enormous demand for pharmaceuticals in the healthcare industry. The increased frequency of diseases entailed the development of personalized medicines that would aid in the better treatment of patients. The health distress is driving increased demand for tailored therapies, elevating the precision medicine market. In addition, the increasing count of cases of genetic mutation illnesses requires the aid of the precision medicine sector, which will result in market expansion over the forecast period.

Key Players:

Nanostring Technologies Inc, Quest Diagnostics, Qiagen, Medtronic, Novartis AG, Pfizer Inc, Merck & Co, Roche Diagnostics, Eli Lilly and Company, and Abbott Laboratories are the leading competitors in the Precision Medicine Market. Further, these organizations employ various techniques to drive their company portfolio worldwide, including innovative product releases and R&D.

Renub Research latest report “Personalized Medicine Market, Forecast ByType (Diagnostic, Therapeutics), Application (Oncology, Infectious Diseases, Neurology, Cardiovascular, Lifestyle and Endocrinology, Gastroenterology, Others), Technology (Big Data Analytics, Bioinformatics, Gene Sequencing, Drug Discovery, Companion Diagnostics), End – User (Pharmaceutical, Diagnostic, Health IT, Others) Region ( North America, Europe, Asia Pacific, Middle East & Africa, South America), Companies (Nanostring Technologies Inc, Quest Diagnostics, Qiagen, Medtronic, Novartis AG, Pfizer Inc, Merck & Co, Roche Diagnostics, Eli Lilly and Company, Abbott Laboratories)” provides a detailed analysis of Global Precision Medicine Market.

Type –The market has been studied from 2 viewpoints:

1. Diagnostic
2. Therapeutics

Application – The market has been studied from 7 viewpoints:

1. Oncology
2. Infectious Diseases
3. Neurology
4. Cardiovascular
5. Lifestyle and Endocrinology
6. Gastroenterology
7. Others

Technology –The market has been studied from 5 viewpoints:

1. Big Data Analytics
2. Bioinformatics
3. Gene Sequencing
4. Drug Discovery
5. Companion Diagnostics

End User – The market has been studied from 4 viewpoints:

1. Pharmaceutical
2. Diagnostic
3. Health IT
4. Others

Region –The market has been studied from 5 viewpoints:

1. North America
2. Europe
3. Asia Pacific
4. Middle East & Africa
5. South America

Company Insights:

• Overview
• Initiatives/Recent Developments
• Financial Insight

Companies Covered:

1. Nanostring Technologies Inc
2. Quest Diagnostics
3. Qiagen
4. Medtronic
5. Novartis AG
6. Pfizer Inc
7. Merck & Co
8. Roche Diagnostics
9. Eli Lilly and Company
10. Abbott Laboratories


1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Driver
4.2 Challenges
5. Global Personalized Medicine Market
6. Market Share – Global Personalized Medicine Market
6.1 By Type
6.2 By Application
6.3 Technology
6.4 End-User
6.5 By Region
7. Type –Global Personalized Medicine Market
7.1 Diagnostic
7.2 Therapeutics
8. Application - Global Personalized Medicine Market
8.1 Oncology
8.2 Infectious Diseases
8.3 Neurology
8.4 Cardiovascular
8.5 Lifestyle and Endocrinology
8.6 Gastroenterology
8.7 Others
9. Technology - Global Personalized Medicine Market
9.1 Big Data Analytics
9.2 Bioinformatics
9.3 Gene Sequencing
9.4 Drug Discovery
9.5 Companion Diagnostics
10. End-User- Global Personalized Medicine Market
10.1 Hospital
10.2 Diagnostic
10.3 Research & Academic Institute
10.4 Others
11. By Region –Global Personalized Medicine Market
11.1 North America
11.2 Europe
11.3 Asia Pacific
11.4 Middle East &Africa
11.5 South America
12. Global Key Players Analysis - Global Personalized Medicine Market
12.1 Nanostring Technologies Inc
12.1.1 Overview
12.1.2 Recent Initiatives
12.1.3 Net Sales
12.2 Quest Diagnostics
12.2.1 Overview
12.2.2 Recent Initiatives
12.2.3 Net Sales
12.3 Qiagen
12.3.1 Overview
12.3.2 Recent Initiatives
12.3.3 Net Sales
12.4 Medtronic
12.4.1 Overview
12.4.2 Recent Initiatives
12.4.3 Net Sales
12.5 Novartis AG
12.5.1 Overview
12.5.2 Recent Initiatives
12.5.3 Net Sales
12.6 Pfizer Inc
12.6.1 Overview
12.6.2 Recent Initiatives
12.6.3 Net Sales
12.7 Merck & Co
12.7.1 Overview
12.7.2 Recent Initiatives
12.7.3 Net Sales
12.8 Roche Diagnostics
12.8.1 Overview
12.8.2 Recent Initiatives
12.8.3 Net Sales
12.9 Eli Lilly & Company
12.9.1 Overview
12.9.2 Recent Initiatives
12.9.3 Net Sales
12.10 Abbott Laboratories
12.10.1 Overview
12.10.2 Recent Initiatives
12.10.3 Net Sales
List of Figures:
Figure-01: Global – Personalized Medicine Market (Billion US$), 2017 – 2022
Figure-02: Global – Forecast for Personalized Medicine Market (Billion US$), 2023 – 2027
Figure-03: Type – Diagnostic Market (Billion US$), 2017 – 2022
Figure-04: Type – Forecast for Diagnostic Market (Billion US$), 2023 – 2027
Figure-05: Type – Therapeutics Market (Billion US$), 2017 – 2022
Figure-06: Type – Forecast for Therapeutics Market (Billion US$), 2023 – 2027
Figure-07: Application – Oncology Market (Billion US$), 2017 – 2022
Figure-08: Application – Forecast for Oncology Market (Billion US$), 2023 – 2027
Figure-09: Application – Infectious Diseases Market (Billion US$), 2017 – 2022
Figure-10: Application – Forecast for Infectious Diseases Market (Billion US$), 2023 – 2027
Figure-11: Application – Neurology Market (Billion US$), 2017 – 2022
Figure-12: Application – Forecast for Neurology Market (Billion US$), 2023 – 2027
Figure-13: Application – Cardiovascular Market (Billion US$), 2017 – 2022
Figure-14: Application – Forecast for Cardiovascular Market (Billion US$), 2023 – 2027
Figure-15: Application – Lifestyle and Endocrinology Market (Billion US$), 2017 – 2022
Figure-16: Application – Forecast for Lifestyle and Endocrinology Market (Billion US$), 2023 – 2027
Figure-17: Application – Gastroenterology Market (Billion US$), 2017 – 2022
Figure-18: Application – Forecast for Gastroenterology Market (Billion US$), 2023 – 2027
Figure-19: Application – Others Market (Billion US$), 2017 – 2022
Figure-20: Application – Forecast for Others Market (Billion US$), 2023 – 2027
Figure-21: Technology – Big Data Analytics Market (Billion US$), 2017 – 2022
Figure-22: Technology – Forecast for Big Data Analytics Market (Billion US$), 2023 – 2027
Figure-23: Technology – Bioinformatics Market (Billion US$), 2017 – 2022
Figure-24: Technology – Forecast for Bioinformatics Market (Billion US$), 2023 – 2027
Figure-25: Technology – Gene Sequencing Market (Billion US$), 2017 – 2022
Figure-26: Technology – Forecast for Gene Sequencing Market (Billion US$), 2023 – 2027
Figure-27: Technology – Drug Discovery Market (Billion US$), 2017 – 2022
Figure-28: Technology – Forecast for Drug Discovery Market (Billion US$), 2023 – 2027
Figure-29: Technology – Companion Diagnostics Market (Billion US$), 2017 – 2022
Figure-30: Technology – Forecast for Companion Diagnostics Market (Billion US$), 2023 – 2027
Figure-31: End-User – Pharmaceutical Market (Billion US$), 2017 – 2022
Figure-32: End-User – Forecast for Pharmaceutical Market (Billion US$), 2023 – 2027
Figure-33: End-User – Diagnostic Market (Billion US$), 2017 – 2022
Figure-34: End-User – Forecast for Diagnostic Market (Billion US$), 2023 – 2027
Figure-35: End-User – Health IT Market (Billion US$), 2017 – 2022
Figure-36: End-User – Forecast for Health IT Market (Billion US$), 2023 – 2027
Figure-37: End-User – Others Market (Billion US$), 2017 – 2022
Figure-38: End-User – Forecast for Others Market (Billion US$), 2023 – 2027
Figure-39: North America – Personalized Medicine Market (Billion US$), 2017 – 2022
Figure-40: North America – Forecast for Personalized Medicine Market (Billion US$), 2023 – 2027
Figure-41: Europe – Personalized Medicine Market (Billion US$), 2017 – 2022
Figure-42: Europe – Forecast for Personalized Medicine Market (Billion US$), 2023 – 2027
Figure-43: Asia Pacific – Personalized Medicine Market (Billion US$), 2017 – 2022
Figure-44: Asia Pacific – Forecast for Personalized Medicine Market (Billion US$), 2023 – 2027
Figure-45: Middle East & Africa – Personalized Medicine Market (Billion US$), 2017 – 2022
Figure-46: Middle East & Africa – Forecast for Personalized Medicine Market (Billion US$), 2023 – 2027
Figure-47: South America – Personalized Medicine Market (Million US$), 2017 – 2022
Figure-48: South America – Forecast for Personalized Medicine Market (Million US$), 2023 – 2027
Figure-49: Nanostring Technologies Inc – Global Revenue (Million US$), 2017 – 2022
Figure-50: Nanostring Technologies Inc – Forecast for Global Revenue (Million US$), 2023 – 2027
Figure-51: Quest Diagnostics – Global Revenue (Billion US$), 2017 – 2022
Figure-52: Quest Diagnostics – Forecast for Global Revenue (Billion US$), 2023 – 2027
Figure-53: Qiagen – Global Revenue (Billion US$), 2017 – 2022
Figure-54: Qiagen – Forecast for Global Revenue (Billion US$), 2023 – 2027
Figure-55: Medtronic – Global Revenue (Billion US$), 2017 – 2022
Figure-56: Medtronic – Forecast for Global Revenue (Billion US$), 2023 – 2027
Figure-57: Novartis AG – Global Revenue (Billion US$), 2017 – 2022
Figure-58: Novartis AG – Forecast for Global Revenue (Billion US$), 2023 – 2027
Figure-59: Pfizer Inc – Global Revenue (Billion US$), 2017 – 2022
Figure-60: Pfizer Inc – Forecast for Global Revenue (Billion US$), 2023 – 2027
Figure-61: Merck & Co – Global Revenue (Billion US$), 2017 – 2022
Figure-62: Merck & Co – Forecast for Global Revenue (Billion US$), 2023 – 2027
Figure-63: Roche Diagnostics – Global Revenue (Billion US$), 2017 – 2022
Figure-64: Roche Diagnostics – Forecast for Global Revenue (Billion US$), 2023 – 2027
Figure-65: Eli Lilly & Company – Global Revenue (Billion US$), 2017 – 2022
Figure-66: Eli Lilly & Company – Forecast for Global Revenue (Billion US$), 2023 – 2027
Figure-67: Abbott Laboratories – Global Revenue (Billion US$), 2017 – 2022
Figure-68: Abbott Laboratories – Forecast for Global Revenue (Billion US$), 2023 – 2027
List of Tables:
Table-01: Global – Personalized Medicine Market Share by Type (Percent), 2017 – 2022
Table-02: Global – Forecast for Personalized Medicine Market Share by Type (Percent), 2023 – 2027
Table-03: Global – Personalized Medicine Market Share by Application (Percent), 2017 – 2022
Table-04: Global – Forecast for Personalized Medicine Market Share by Application (Percent), 2023 – 2027
Table-05: Global – Personalized Medicine Market Share by Technology (Percent), 2017 – 2022
Table-06: Global – Forecast for Personalized Medicine Market Share by Technology (Percent), 2023 – 2027
Table-07: Global – Personalized Medicine Market Share by End-User (Percent), 2017 – 2022
Table-08: Global – Forecast for Personalized Medicine Market Share by End-User (Percent), 2023 – 2027
Table-09: Global – Personalized Medicine Market Share by Region (Percent), 2017 – 2022
Table-10: Global – Forecast for Personalized Medicine Market Share by Region (Percent), 2023 – 2027

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