Personalized Medicine Market: By Product Type (Diagnostics, Therapeutics, Personalized Medical Care, Personalized Nutrition & Wellness) and Geography

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Personalized Medicine Market was valued at USD 98.6 billion in 2022 and is expected to grow at a significant CAGR of 10.8% from 2023 to 2029. Precision medicine, another name for personalized medicine, is a medical paradigm that classifies patients into distinct groups and then tailors medical decisions, practices, procedures, and products to each patient based on their anticipated response or risk of disease. This idea is referred to by several names, including personalized medicine, precision medicine, stratified medicine, and P4 medicine, however, some writers and organizations use them independently to highlight specific differences.

The global market provides a detailed overview of the personalized medicine market and that can be segmented by product type and region. By product type, the Personalized Medicine market has been segmented into Diagnostics, Therapeutics, Personalized Medical Care, and Personalized Nutrition & Wellness. The Diagnostics segment is likely to be the largest and fastest-growing segment in terms of connectivity according to Precision Business Insights.

Personalized Medicine Marke Key Development:
  • In February 2021, Illumina, Inc. signed an agreement with the Belgian Society of Medical Oncology (BSMO) for a national-level pilot program aimed at evaluating Comprehensive Genomic Profiling (CGP) in advanced metastatic cancer patients.

Personalized Medicine Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

10.8%

Largest Market

North American

Fastest Growing Market

Asia-Pacific
Personalized Medicine Market Dynamics

The growth of the market can be primarily attributed to the rising interest in biomarkers identification for therapy, diagnosis, and prognosis for personalized medicine development.

Personalized Medicine Market Segmentation

By Product Type
  • Diagnostics
  • Therapeutics
  • Personalized Medical Care
  • Personalized Nutrition & Wellness
By Geography
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • MEA

Frequently Asked Questions

The personalized medicine market is projected to expand at a CAGR of 11.2% during the forecast period

The major players in the global Personalized Medicine market are GE Healthcare, Illumina, Inc, Asuragen, Inc, Abbott Laboratories, Dako A/S, Exact Science Corp, Biogen, Inc, Lumenis Ltd.

Asia Pacific is the fastest-growing region for personalized medicine market

Key Features of the Reports

  • The personalized medicine market report provides granular level information about the market size, regional market share, historic market (2018-2022) and forecast (2023-2029)
  • The personalized medicine market report covers in-detail insights about the competitor's overview, company share analysis, key market developments, and their key strategies
  • The personalized medicine market report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The personalized medicine market report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The personalized medicine market report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
1. Executive Summary
2. Global Personalized Medicine Market Introduction
2.1. Global Personalized Medicine Market - Taxonomy
2.2. Global Personalized Medicine Market - Definitions
2.2.1. By Product Type
3. Global Personalized Medicine Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Global Personalized Medicine Market Dynamic Factors - Impact Analysis
4. Global Personalized Medicine Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029
4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Personalized Medicine Market, By Product Type, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
5.1. Diagnostics
5.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.3. Market Opportunity Analysis
5.1.1   Genetic Testing
5.1.1.1   Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
5.1.1.2   Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.1.3   Market Opportunity Analysis
5.1.2        DTC Diagnostics
5.1.2.1    Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
5.1.2.2   Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.2.3   Market Opportunity Analysis
5.1.3        Esoteric Lab Services
5.1.3.1    Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
5.1.3.2   Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.3.3   Market Opportunity Analysis
5.1.4        Esoteric Lab Tests
5.1.4.1    Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
5.1.4.2   Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.4.3   Market Opportunity Analysis
5.2. Therapeutics
5.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.3. Market Opportunity Analysis
5.1.5        Pharmaceutical
5.1.5.1   Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
5.1.5.2   Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.5.3   Market Opportunity Analysis
5.1.6        Genomic Medicine
5.1.6.1    Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
5.1.6.2   Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.6.3   Market Opportunity Analysis
5.1.7        Medical Devices
5.1.7.1    Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
5.1.7.2   Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.7.3   Market Opportunity Analysis
5.3. Personalized Medical Care
5.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.3.3. Market Opportunity Analysis
5.1.8        Telemedicine
5.1.8.1   Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
5.1.8.2   Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.8.3   Market Opportunity Analysis
5.1.9        Health Information Technology
5.1.9.1    Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
5.1.9.2   Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.9.3   Market Opportunity Analysis
5.1.10    Disease Management
5.1.10.1      Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
5.1.10.2     Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.10.3     Market Opportunity Analysis
5.4. Personalized Nutrition & Wellness
5.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.4.3. Market Opportunity Analysis
5.1.11    Retail Nutrition
5.1.11.1     Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
5.1.11.2     Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.11.3     Market Opportunity Analysis
5.1.12    Complementary Medicine
5.1.12.1      Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
5.1.12.2     Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.12.3     Market Opportunity Analysis
5.1.13    Alternative Medicine
5.1.13.1      Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
5.1.13.2     Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.13.3     Market Opportunity Analysis
6. Global Personalized Medicine Market Forecast, By Region, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
6.1. North America
6.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. Europe
6.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3. Market Opportunity Analysis
6.3. Asia-Pacific
6.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.3.3. Market Opportunity Analysis
6.4. Latin America
6.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.4.3. Market Opportunity Analysis
6.5. Middle East and Africa
6.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.5.3. Market Opportunity Analysis
6.6. Global Personalized Medicine Market - Opportunity Analysis Index, By Product Type and Region, 2022 - 2028
7. North America Personalized Medicine Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
7.1. Product Type Analysis 2018 - 2022 and Forecast 2023 - 2029  by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
7.1.1. Diagnostics
7.1.1.1. Genetic Testing
7.1.1.2. DTC Diagnostics
7.1.1.3. Esoteric Lab Services
7.1.1.4. Esoteric Lab Tests
7.1.2. Therapeutics
7.1.2.1. Pharmaceutical
7.1.2.2. Genomic Medicine
7.1.2.3. Medical Devices
7.1.3. Personalized Medical Care
7.1.3.1. Telemedicine
7.1.3.2. Heath Information Technology
7.1.3.3. Diseases Management
7.1.4. Personalized Nutrition & Wellness
7.1.4.1. Retail Nutrition
7.1.4.2. Complementary Medicine
7.1.4.3. Alternative Medicine
7.2. Country Analysis 2018 - 2022 and Forecast 2023 - 2029  by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
7.2.1. U.S.
7.2.2. Canada
7.3. North America Personalized Medicine Market - Opportunity Analysis Index, By Product Type and Country, 2022 - 2028
7.4. North America Personalized Medicine Market Dynamics - Trends
8. Europe Personalized Medicine Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
8.1. Product Type Analysis 2018 - 2022 and Forecast 2023 - 2029  by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
8.1.1. Diagnostics
8.1.1.1. Genetic Testing
8.1.1.2. DTC Diagnostics
8.1.1.3. Esoteric Lab Services
8.1.1.4. Esoteric Lab Tests
8.1.2. Therapeutics
8.1.2.1. Pharmaceutical
8.1.2.2. Genomic Medicine
8.1.2.3. Medical Devices
8.1.3. Personalized Medical Care
8.1.3.1. Telemedicine
8.1.3.2. Heath Information Technology
8.1.3.3. Diseases Management
8.1.4. Personalized Nutrition & Wellness
8.1.4.1. Retail Nutrition
8.1.4.2. Complementary Medicine
8.1.4.3. Alternative Medicine
8.2. Country Analysis 2018 - 2022 and Forecast 2023 - 2029  by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
8.2.1. Germany
8.2.2. UK
8.2.3. France
8.2.4. Spain
8.2.5. Italy
8.2.6. Rest of Europe
8.3. Europe Personalized Medicine Market - Opportunity Analysis Index, By Product Type and Country, 2022 - 2028
8.4. Europe Personalized Medicine Market Dynamics - Trends
9. Asia-Pacific Personalized Medicine Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
9.1. Product Type Analysis 2018 - 2022 and Forecast 2023 - 2029  by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.1.1. Diagnostics
9.1.1.1. Genetic Testing
9.1.1.2. DTC Diagnostics
9.1.1.3. Esoteric Lab Services
9.1.1.4. Esoteric Lab Tests
9.1.2. Therapeutics
9.1.2.1. Pharmaceutical
9.1.2.2. Genomic Medicine
9.1.2.3. Medical Devices
9.1.3. Personalized Medical Care
9.1.3.1. Telemedicine
9.1.3.2. Heath Information Technology
9.1.3.3. Diseases Management
9.1.4. Personalized Nutrition & Wellness
9.1.4.1. Retail Nutrition
9.1.4.2. Complementary Medicine
9.1.4.3. Alternative Medicine
9.2. Country Analysis 2018 - 2022 and Forecast 2023 - 2029  by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
9.2.1. Japan
9.2.2. China
9.2.3. India
9.2.4. Australia & New Zealand
9.2.5. Rest of Asia-Pacific
9.3. Asia-Pacific Personalized Medicine Market - Opportunity Analysis Index, By Product Type and Country, 2022 - 2028
9.4. Asia-Pacific Personalized Medicine Market Dynamics - Trends
10. Latin America Personalized Medicine Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
10.1. Product Type Analysis 2018 - 2022 and Forecast 2023 - 2029  by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.1.1. Diagnostics
10.1.1.1. Genetic Testing
10.1.1.2. DTC Diagnostics
10.1.1.3. Esoteric Lab Services
10.1.1.4. Esoteric Lab Tests
10.1.2. Therapeutics
10.1.2.1. Pharmaceutical
10.1.2.2. Genomic Medicine
10.1.2.3. Medical Devices
10.1.3. Personalized Medical Care
10.1.3.1. Telemedicine
10.1.3.2. Heath Information Technology
10.1.3.3. Diseases Management
10.1.4. Personalized Nutrition & Wellness
10.1.4.1. Retail Nutrition
10.1.4.2. Complementary Medicine
10.1.4.3. Alternative Medicine
10.2. Country Analysis 2018 - 2022 and Forecast 2023 - 2029  by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Latin America Personalized Medicine Market - Opportunity Analysis Index, By Product Type and Country, 2022 - 2028
10.4. Latin America Personalized Medicine Market Dynamics - Trends
11. Middle East and Africa Personalized Medicine Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)
11.1. Product Type Analysis 2018 - 2022 and Forecast 2023 - 2029  by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.1.1. Diagnostics
11.1.1.1. Genetic Testing
11.1.1.2. DTC Diagnostics
11.1.1.3. Esoteric Lab Services
11.1.1.4. Esoteric Lab Tests
11.1.2. Therapeutics
11.1.2.1. Pharmaceutical
11.1.2.2. Genomic Medicine
11.1.2.3. Medical Devices
11.1.3. Personalized Medical Care
11.1.3.1. Telemedicine
11.1.3.2. Heath Information Technology
11.1.3.3. Diseases Management
11.1.4. Personalized Nutrition & Wellness
11.1.4.1. Retail Nutrition
11.1.4.2. Complementary Medicine
11.1.4.3. Alternative Medicine
11.2. Country Analysis 2017 - 2021 and Forecast 2022 - 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
11.2.1. Gulf Cooperation Council (GCC) Countries
11.2.2. Israel
11.2.3. South Africa
11.2.4. Rest of MEA
11.3. MEA Personalized Medicine Market - Opportunity Analysis Index, By Product Type and Country, 2022 - 2028
11.4. MEA Personalized Medicine Market Dynamics - Trends
12. Competition Landscape 
12.1. Strategic Dashboard of Top Market Players
12.2. Company Profiles (Introduction, Financial Analysis, Product Type & Service Offerings, Key Developments, Strategies, and SWOT Analysis)
12.2.1. GE Healthcare
12.2.2. Illumina, Inc
12.2.3. Asuragen, Inc
12.2.4. Abbott Laboratories
12.2.5. Dako A/S
12.2.6. Exact Science Corp
12.2.7. Biogen, Inc
12.2.8. Lumenis Ltd
13. Research Methodology
14. Key Assumptions and Acronyms
  • GE Healthcare
  • Illumina, Inc
  • Asuragen, Inc
  • Abbott Laboratories
  • Dako A/S
  • Exact Science Corp
  • Biogen, Inc
  • Lumenis Ltd

Adjacent Markets