1. Home
  2. > Pharmaceutical
  3. > Therapy Market Trends
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

  • October 2022
  • 175 pages
  • ID: 6359425
  • Format: PDF
  • Renub Research


Table of Contents

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.

This 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

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Grace helps you find the right report:

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Global Nanomedicine Industry

  • $ 4950
  • January 2023
  • 339 pages

The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the ...

  • World
  • China
  • Pollution Control
  • Diagnostics
  • Industry analysis


Reportlinker.com © Copyright 2023. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on