The global precision medicine market was valued at USD 147.20 Billion in 2024, driven by the demand for precision medicine, advancements in sequencing technologies, and the growing application of precision medicine in various fields across the globe. The market is anticipated to grow at a CAGR of 11.10% during the forecast period of 2025-2034 to achieve a value of USD 421.74 Billion by 2034.
Base Year
Historical Year
Forecast Year
Growing advancements in genomics and bioinformatics are driving the adoption of precision medicine, enabling targeted therapies and personalised treatment plans across diverse medical conditions, especially in oncology.
The increasing prevalence of chronic diseases and the demand for customised therapies are fostering the expansion of precision medicine applications in cardiovascular, neurological, and infectious disease treatments.
Strategic collaborations between pharmaceutical companies and technology firms are accelerating the development of innovative diagnostic tools and tailored treatments, contributing to the rapid growth of the precision medicine market.
Value in USD Billion
2025-2034
Precision Medicine Market Outlook
*this image is indicative*
Precision medicine is an innovative approach to disease prevention, diagnosis, and treatment that tailors medical care to individual patients based on their genetic, environmental, and lifestyle factors. Unlike traditional treatments, which apply a one-size-fits-all strategy, precision medicine focuses on identifying specific biomarkers or genetic mutations to develop targeted therapies. This approach is widely used in oncology, where treatments are customised to attack cancer cells with minimal impact on healthy tissue. Advances in genomic sequencing, bioinformatics, and data analytics have driven the growth of precision medicine, enabling healthcare providers to predict disease risk, optimise treatment effectiveness, and reduce adverse effects. Precision medicine holds the promise of improving patient outcomes while reducing healthcare costs by ensuring more personalised and effective care.
Launch of Advanced-Data Platform to Accelerate Precision Medicine Development
In November 2024, a new data-sharing and collaboration platform was launched to advance precision medicine for lupus. The platform offers researchers access to a wealth of patient data, biospecimens, and molecular insights, fostering personalised treatment development. Additionally, it connects lupus patients with educational resources and research opportunities, enhancing community engagement. This initiative aims to create a comprehensive knowledge base for precision medicine, driving innovations in disease treatment and contributing to the global growth of the precision medicine market. It highlights the ongoing shift towards patient-specific therapies, promising long-term market development and increased treatment efficacy.
Surge in Clinical Trials to Explore Cancer Treatments Using Precision Medicine to Boost Precision Medicine Market Demand
In October 2024, a clinical trial aimed at developing precision treatments for blood cancers was launched. This trial focuses on identifying genetic changes in cancer cells, and testing personalised therapies based on individual genetic profiles. By using advanced biomarker assays and genetic testing, the trial will guide more targeted and effective treatments for acute myeloid leukaemia (AML) and myelodysplastic syndromes (MDS). The trial’s success in identifying tailored treatment options will push the boundaries of precision medicine in oncology, accelerating market growth by introducing more targeted therapies and improving patient outcomes in the forecast period.
The market is witnessing several trends and developments to improve the current scenario. Some of the notable trends are as follows:
Precision Medicine Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Therapeutic Areas
Market Breakup by End User
Market Breakup by Region
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Personalised Medicine to Lead the Market Segmentation by Type
The personalised medicine segment will likely hold a considerable share of the market due to its ability to deliver tailored treatments based on individual genetic profiles. The growing adoption of next-generation sequencing (NGS) and companion diagnostics drives this segment’s dominance. The increasing prevalence of chronic diseases like cancer and cardiovascular disorders has further boosted demand for personalised therapies. Investments in research, coupled with government initiatives promoting precision healthcare, are poised to propel this segment’s growth. Personalised medicine’s capability to improve patient outcomes and minimise adverse effects ensures its continued leadership in the forecast period.
Precision Medicine Market Segmentation by Therapeutic Areas to Hold a Significant Value
Oncology is amongst the leading therapeutic areas in the market, driven by the high prevalence of cancer worldwide and advancements in cancer genomics. Personalised oncology treatments, including targeted therapies and immunotherapies, are revolutionising cancer care by improving survival rates and reducing side effects. Biomarker-based diagnostics and increasing clinical trials for cancer-specific drugs further strengthen this segment’s dominance. As demand for precise cancer treatments grows, investments in research and collaborations among pharmaceutical and diagnostic companies are expected to drive market growth, cementing oncology’s position as the dominant segment in the forecast period.
Hospitals to Lead the Precision Medicine Market by End User
Hospitals are expected to hold a major share of the market by end user due to their central role in implementing advanced diagnostics and treatment protocols. Equipped with cutting-edge technologies like NGS and biomarker testing, hospitals facilitate timely and accurate diagnoses for personalised care. Rising patient demand for precision treatments and increasing healthcare infrastructure investments bolster this segment’s growth. Furthermore, collaborations with pharmaceutical companies to conduct clinical trials and integrate precision medicine into routine care enhance hospital-based precision medicine offerings. This segment is poised for robust growth as hospitals continue to lead in adopting innovative solutions, ensuring improved patient outcomes.
North America is poised to hold a significant market share, driven by its advanced healthcare infrastructure, extensive adoption of next-generation sequencing (NGS), and substantial investment in research and development. The region benefits from strong government initiatives promoting personalised healthcare and collaborations between pharmaceutical companies and technology firms. The United States leads in biomarker research and cancer genomics, further solidifying its dominance.
Europe is also anticipated to witness growth, bolstered by increased funding for genomic research and a focus on targeted therapies for chronic diseases. Countries like Germany and the UK are fostering innovation through public-private partnerships and regulatory support, enhancing the region’s competitive edge in precision medicine advancements.
The key features of the market report comprise patent analysis, clinical trials analysis, funding and investment analysis, and strategic initiatives by the leading players. The major companies in the market are as follows:
Headquartered in Basel, Switzerland, Novartis AG was established in 1996 following the merger of Ciba-Geigy and Sandoz. The company specialises in innovative medicines, generics, and biosimilars, focusing on therapeutic areas such as oncology, neuroscience, and immunology. Novartis is a pioneer in precision medicine, leveraging advanced platforms like CAR-T cell therapy and gene therapies. Its diverse portfolio includes breakthrough treatments and ongoing research in personalised healthcare, making it a leader in addressing unmet medical needs globally.
Founded in 1849 and headquartered in New York City, USA, Pfizer, Inc. is a global leader in biopharmaceuticals. The company’s portfolio spans vaccines, oncology, rare diseases, and immunology, with a strong focus on precision medicine. Pfizer is renowned for developing targeted therapies and personalised treatments, supported by cutting-edge research in genomics and biomarker testing. Its commitment to innovation and partnerships enhances its ability to address diverse healthcare challenges effectively, contributing significantly to advancements in precision medicine.
Biogen Inc., established in 1978, is headquartered in Cambridge, Massachusetts, USA. Specialising in neuroscience, the company focuses on therapies for neurological and neurodegenerative diseases such as multiple sclerosis, Alzheimer’s, and spinal muscular atrophy. Biogen’s portfolio includes advanced biologics and precision medicine approaches aimed at addressing complex brain disorders. With a commitment to innovation, Biogen is investing heavily in genetic and biomarker-based research, reinforcing its leadership in developing personalised solutions for patients worldwide.
Johnson & Johnson Services, Inc., headquartered in New Brunswick, New Jersey, USA, was founded in 1886. The company operates across pharmaceuticals, medical devices, and consumer health products. Its pharmaceutical division, Janssen, focuses on precision medicine in oncology, immunology, and infectious diseases. Johnson & Johnson integrates advanced genomic technologies and biomarkers to develop personalised treatments. With a robust global presence and a commitment to research and innovation, the company remains a key player in transforming healthcare delivery.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other key players in the market include F. Hoffmann-La Roche AG, AstraZeneca Plc, GE Healthcare, Amgen Inc., Illumina, Inc., and Bristol Myers Squibb.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Therapeutic Areas |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-723-689-1189
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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