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Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....
Precision Diagnostics Market: By Type, By Application, By End-use, and Region Forecast 2020-2031
Precision Diagnostics Market size was valued at US$ 18,500 million in 2024 and is expected to reach US$ 35,600 million by 2031, growing at a significant CAGR of 8.2% from 2025-2031. Moreover, the United States Precision Diagnostics Market is anticipated to grow significantly, reaching an estimated value of US$ 13,800 million by 2031. The market is driving a transformative shift in healthcare, moving decision-making away from generalized averages toward insights based on molecular-level detail. Leveraging genomic, proteomic, and biomarker data, these diagnostic tools empower clinicians to detect, classify, and monitor diseases with unparalleled accuracy.
No longer limited to routine testing, precision diagnostics are accelerating early intervention, guiding personalized therapies, and reducing reliance on trial-and-error treatment approaches. With a growing prevalence of complex, chronic, and hereditary conditions, these technologies are becoming essential for addressing patient variability. As global healthcare systems transition to value-based care models, precision diagnostics are expanding beyond traditional laboratories and becoming integral to clinical decision-making across oncology, cardiology, neurology, and infectious disease management.
Based on the type:
Genetic tests are becoming the backbone of precision diagnosis since they possess unmatched ability to identify inherited conditions, predict risk for disease, and inform individualized therapy. From BRCA mutations in cancer to pharmacogenomic profiles in psychiatry, genetic testing is expanding swiftly across clinical disciplines. Reduced sequencing costs, greater regulatory clarity, and improved physician acceptance are fueling routine adoption. Also, integrating AI into the analysis of genetic information is making results more useful and clinically relevant. With the trend towards prevention and targeted intervention in healthcare, genetic tests are no longer niche applications, they are foundation tools that allow for earlier, smarter, and more efficient decision-making at the individual and population level.
Based on the application:
Oncology remains the most common application field in precision diagnostics, where early identification, stratification, and treatment monitoring is most urgently required. Precision diagnostics such as liquid biopsies and tumor mutation panels allow clinicians to identify actionable mutations, match therapies, and monitor resistance in minimally invasive manners. As immunotherapies and targeted therapies move forward, diagnostic assays are being reshaped from discretionary tools to clinical gatekeepers. Oncology segment is further supported by high pharma-diagnostics alignment and high R&D investment, facilitating innovation and market adoption. With rising worldwide incidence of cancer and a trend towards biomarker-based care, oncology continues to lead and set the tone for adoption of precision diagnostics in both emerging and developed healthcare systems.
Based on the end user:
Clinical labs are the operational epicenter of the market, the primary channels through which sophisticated testing reaches patients. Staffed with specialists and trained personnel, these labs perform high-throughput sequencing, multiplexed assays, and bioinformatics interpretation at scale. Their role is expanding from centralized hospital laboratories to decentralized, agile facilities serving outpatient clinics and centers for personalized care. As volume rises and turnaround shrinks, labs are adopting automation and cloud computing data systems to ensure accuracy and efficiency. Furthermore, partnerships with biotech firms are enabling labs to be co-development and validation sites for emerging diagnostic products. Clinical laboratories are not just operating results; they're developing the environment that makes precision medicine possible.
Study Period
2025 - 2031Base Year
2024CAGR
8.2%Largest Market
North-AmericaFastest Growing Market
Asia-Pacific
The market is driving a transformative shift in healthcare, moving decision-making away from generalized averages toward insights based on molecular-level detail. Leveraging genomic, proteomic, and biomarker data, these diagnostic tools empower clinicians to detect, classify, and monitor diseases with unparalleled accuracy. No longer limited to routine testing, precision diagnostics are accelerating early intervention, guiding personalized therapies, and reducing reliance on trial-and-error treatment approaches.
With a growing prevalence of complex, chronic, and hereditary conditions, these technologies are becoming essential for addressing patient variability. As global healthcare systems transition to value-based care models, precision diagnostics are expanding beyond traditional laboratories and becoming integral to clinical decision-making across oncology, cardiology, neurology, and infectious disease management.\
Despite their growing clinical relevance, the adoption of precision diagnostics is constrained by inconsistent reimbursement policies and a lack of standardization. While some established tests receive coverage, many newer diagnostics operate in reimbursement gray zones, where payers remain cautious due to limited evidence of clear cost-effectiveness. Moreover, the reliability of precision diagnostics hinges on uniform sample handling and interpretation processes that often vary significantly between laboratories and regions. This inconsistency erodes confidence and complicates comparability, particularly in decentralized or resource-constrained healthcare environments.
Additionally, many clinicians lack the training needed to interpret complex genomic data, posing a barrier to routine clinical integration. Unless issues around payer alignment, clinical education, and standardization are resolved, market expansion will continue to be uneven despite strong technological advancements.
One of the most promising growth areas in precision diagnostics lies in the expanding adoption of liquid biopsy for cancer detection, treatment monitoring, and recurrence prediction. Unlike traditional tissue biopsies which are invasive and often limited in scope liquid biopsies offer a non-invasive alternative by detecting circulating tumor DNA (ctDNA) through a simple blood draw.
This approach provides faster, more convenient, and highly reproducible insights into tumor biology. Its clinical applications range from early detection in high-risk populations to real-time monitoring of treatment efficacy and disease progression. As precision oncology continues to advance, the demand for non-invasive tools that can accurately align patients with targeted therapies is accelerating. Liquid biopsy is not merely a technological innovation; it represents a clinical breakthrough with transformative potential across the cancer care continuum.
A defining trend in the market is the deepening convergence of artificial intelligence and bioinformatics to enhance diagnostic accuracy, speed, and clinical relevance. As diagnostic tests become more complex, often analyzing multiple omic datasets or large genomic panels, the ability to extract meaningful insights from raw data becomes essential. Artificial intelligence platforms are now capable of processing vast amounts of biological information to identify actionable patterns, delivering clinically useful insights directly to healthcare providers.
In oncology, for example, artificial intelligence tools can match tumor-specific mutations with available clinical trials or approved targeted therapies in real time, significantly reducing the time from diagnosis to personalized treatment. This integration is not intended to replace physicians but to support them, enabling faster and more informed decisions in an environment increasingly shaped by large-scale data and personalized care models.
Report Benchmarks |
Details |
Report Study Period |
2025 - 2031 |
Market Size in 2024 |
US$ 18,500 million |
Market Size in 2031 |
US$ 35,600 million |
Market CAGR |
8.2% |
By Type |
|
By Application |
|
By End User |
|
By Region |
|
According to PBI Analyst, the market is entering a defining era where diagnostics are no longer auxiliary, they are central to personalized healthcare delivery. The shift from reactive treatment to biomarker-guided precision medicine is driving deeper clinical reliance on diagnostic accuracy and specificity. As technologies like liquid biopsy and AI-enabled genomic tools mature, diagnostics are no longer just identifying disease, they’re actively directing therapy and improving outcomes. Adoption is accelerating across oncology, neurology, and rare disease management. Simultaneously, digital tools and decentralized testing are expanding diagnostic reach into previously underserved settings. Precision diagnostics are no longer emerging, they are restructuring how medicine is practiced, reimbursed, and scaled globally.
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The precision diagnostics market size was valued at US$ 18,500 million in 2024 and is projected to grow at a significant CAGR of 8.2% from 2025-2031.
A major driver is the shift toward value-based care and biomarker-driven treatment decisions, supported by growing adoption of genomic and proteomic tools across clinical disciplines.
The most prominent trend is the integration of artificial intelligence and bioinformatics into diagnostic workflows, enhancing interpretation accuracy and enabling real-time, decision-ready outputs.
Market research is segmented based on type, application, end use, and region.
Asia-Pacific is the fastest-growing region due to increasing investment in genomics, mobile-first diagnostics, and policy-driven expansion of digital healthcare infrastructure.
1.Executive Summary |
2.Global Precision Diagnostics Market Introduction |
2.1.Global Precision Diagnostics Market - Taxonomy |
2.2.Global Precision Diagnostics Market - Definitions |
2.2.1.Type |
2.2.2.Application |
2.2.3.End User |
2.2.4.Region |
3.Global Precision Diagnostics Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Product Landscape |
3.6. New Product Launches |
3.7. Impact of COVID 19 on Market |
4.Global Precision Diagnostics Market Analysis, 2020 - 2024 and Forecast 2025 - 2031 |
4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Opportunity Analysis |
5.Global Precision Diagnostics Market By Type , 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
5.1. Genetic Tests |
5.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.1.3. Market Opportunity Analysis |
5.2. Direct to Consumer Test |
5.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.2.3. Market Opportunity Analysis |
5.3. Esoteric Tests |
5.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.3.3. Market Opportunity Analysis |
5.4. Others |
5.4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.4.3. Market Opportunity Analysis |
6.Global Precision Diagnostics Market By Application, 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
6.1. Oncology |
6.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.1.3. Market Opportunity Analysis |
6.2. Respiratory Diseases |
6.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.3. Market Opportunity Analysis |
6.3. Skin Diseases |
6.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.3.3. Market Opportunity Analysis |
6.4. CNS Disorders |
6.4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.4.3. Market Opportunity Analysis |
6.5. Immunology |
6.5.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.5.3. Market Opportunity Analysis |
6.6. Genetic Diseases |
6.6.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.6.3. Market Opportunity Analysis |
6.7. Others |
6.7.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
6.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.7.3. Market Opportunity Analysis |
7.Global Precision Diagnostics Market By End User, 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
7.1. Hospitals |
7.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.3. Market Opportunity Analysis |
7.2. Clinical Laboratories |
7.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.2.3. Market Opportunity Analysis |
7.3. Others |
7.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.3.3. Market Opportunity Analysis |
8.Global Precision Diagnostics Market By Region, 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
8.1. North America |
8.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.1.3. Market Opportunity Analysis |
8.2. Europe |
8.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.2.3. Market Opportunity Analysis |
8.3. Asia Pacific (APAC) |
8.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.3.3. Market Opportunity Analysis |
8.4. Middle East and Africa (MEA) |
8.4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.4.3. Market Opportunity Analysis |
8.5. Latin America |
8.5.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.5.3. Market Opportunity Analysis |
9.North America Precision Diagnostics Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
9.1. Type Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.1.1.Genetic Tests |
9.1.2.Direct to Consumer Test |
9.1.3.Esoteric Tests |
9.1.4.Others |
9.2. Application Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.2.1.Oncology |
9.2.2.Respiratory Diseases |
9.2.3.Skin Diseases |
9.2.4.CNS Disorders |
9.2.5.Immunology |
9.2.6.Genetic Diseases |
9.2.7.Others |
9.3. End User Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.3.1.Hospitals |
9.3.2.Clinical Laboratories |
9.3.3.Others |
9.4. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.4.1.United States of America (USA) |
9.4.2.Canada |
10.Europe Precision Diagnostics Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
10.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.1.1.Genetic Tests |
10.1.2.Direct to Consumer Test |
10.1.3.Esoteric Tests |
10.1.4.Others |
10.2. Application Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.2.1.Oncology |
10.2.2.Respiratory Diseases |
10.2.3.Skin Diseases |
10.2.4.CNS Disorders |
10.2.5.Immunology |
10.2.6.Genetic Diseases |
10.2.7.Others |
10.3. End User Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.3.1.Hospitals |
10.3.2.Clinical Laboratories |
10.3.3.Others |
10.4. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.4.1.Germany |
10.4.2.France |
10.4.3.Italy |
10.4.4.United Kingdom (UK) |
10.4.5.Spain |
11.Asia Pacific (APAC) Precision Diagnostics Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
11.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.1.1.Genetic Tests |
11.1.2.Direct to Consumer Test |
11.1.3.Esoteric Tests |
11.1.4.Others |
11.2. Application Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.2.1.Oncology |
11.2.2.Respiratory Diseases |
11.2.3.Skin Diseases |
11.2.4.CNS Disorders |
11.2.5.Immunology |
11.2.6.Genetic Diseases |
11.2.7.Others |
11.3. End User Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.3.1.Hospitals |
11.3.2.Clinical Laboratories |
11.3.3.Others |
11.4. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.4.1.China |
11.4.2.India |
11.4.3.Australia and New Zealand (ANZ) |
11.4.4.Japan |
11.4.5.Rest of APAC |
12.Middle East and Africa (MEA) Precision Diagnostics Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
12.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.1.1.Genetic Tests |
12.1.2.Direct to Consumer Test |
12.1.3.Esoteric Tests |
12.1.4.Others |
12.2. Application Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.2.1.Oncology |
12.2.2.Respiratory Diseases |
12.2.3.Skin Diseases |
12.2.4.CNS Disorders |
12.2.5.Immunology |
12.2.6.Genetic Diseases |
12.2.7.Others |
12.3. End User Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.3.1.Hospitals |
12.3.2.Clinical Laboratories |
12.3.3.Others |
12.4. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.4.1.GCC Countries |
12.4.2.South Africa |
12.4.3.Rest of MEA |
13.Latin America Precision Diagnostics Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
13.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.1.1.Genetic Tests |
13.1.2.Direct to Consumer Test |
13.1.3.Esoteric Tests |
13.1.4.Others |
13.2. Application Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.2.1.Oncology |
13.2.2.Respiratory Diseases |
13.2.3.Skin Diseases |
13.2.4.CNS Disorders |
13.2.5.Immunology |
13.2.6.Genetic Diseases |
13.2.7.Others |
13.3. End User Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.3.1.Hospitals |
13.3.2.Clinical Laboratories |
13.3.3.Others |
13.4. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.4.1.Brazil |
13.4.2.Mexico |
13.4.3.Rest of LA |
14. Competition Landscape |
14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
14.2.1.Abbott Laboratories |
14.2.2.Hoffmann-La Roche Ltd. |
14.2.3.Siemens Healthineers AG |
14.2.4.Thermo Fisher Scientific Inc. |
14.2.5.bioMérieux SA |
14.2.6.Becton, Dickinson and Company |
14.2.7.Danaher Corporation |
14.2.8.QIAGEN N.V. |
14.2.9.Hologic Inc. |
14.2.10.Agilent Technologies Inc. |
15. Research Methodology |
16. Appendix and Abbreviations |
Key Market Players