The global personalized medicine market size is calculated at USD 620.13 billion in 2025 and is expected to reach around USD 1,264.67 billion by 2034, growing at a CAGR of 8.24% for the forecasted period.
Ottawa, Feb. 17, 2025 (GLOBE NEWSWIRE) — The global personalized medicine market size was valued at USD 572.93 billion in 2024 and is predicted to hit around USD 1,168.39 billion by 2033, a study published by Towards Healthcare a sister firm of Precedence Statistics.
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Market Overview and Key Statistics
Precision medicine, also known as tailored medicine, is a state-of-the-art approach to illness prevention and treatment that takes into account individual differences in genetic composition, lifestyle, and environment. Precision medicine aims to provide the correct drugs to the right patients at the right time. Advances in precision medicine have already produced FDA-approved medications and important new discoveries tailored to specific characteristics, such as the genetic makeup of an individual or the genetic profile of a tumor. By doing frequent molecular testing on patients with a variety of cancers, doctors may select treatments that maximize survival rates and reduce side effects.
Driving Factors for Market Growth
Chances of developing therapeutics for rare diseases
Around 7000 uncommon diseases impact 7% of the world’s population, or 260–440 million people, according to the World Health Organization (WHO). There is presently no viable therapy for almost 90% of uncommon illnesses. New strategies are required as a result of the treatment failure in uncommon illnesses. One potential way to start addressing the dearth of available medicines for 95% of rare diseases is through precision medicine. Precision medicine is a new approach to illness prevention and treatment that incorporates each person’s unique genetic, environmental, and lifestyle characteristics, according to the National Institutes of Health in the United States.
Improved patient care
Enhancing patient care is another fantastic use of personalized medicine. By tailoring treatment plans according to individual characteristics, medical professionals can provide patients with more accurate and efficient care, which not only improves treatment outcomes but also increases patient satisfaction and involvement in their own healthcare journey. Patients feel safer and more empowered when they are actively involved in decisions regarding their health and well-being, which improves adherence to treatment plans and results in better health outcomes overall.
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Opportunities in the Personalized Medicine Market
- In December 2024, $10 million was successfully raised by NeuroKaire, a cutting-edge biotechnology company that specializes in precision medicine in neurology and psychiatry, to further develop its clinical test that determines the effectiveness of medications for patients with depression.
- In December 2024, Infosys made an investment of INR 8.3 crore, or around $1 million, in health software firm 4baseCare, marking a big step for India’s health tech sector. With this investment, which was made possible by the Infosys Innovation Fund, the IT behemoth and the emerging field of tailored cancer treatment have strategically aligned.
Regional Insights
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Growing R&D is driving North America
North America held the largest share of the personalized medicine market by 41% in 2023. The expansion of the precision medicine sector in the US is expected to be fueled by increases in financing for research and development (R&D) and healthcare infrastructure expenditures. Furthermore, tremendous progress has been made in treating diseases, including breast and colorectal cancer, because of advancements in precision medicine. Cancer continues to be the second most common cause of death in the US, after heart disease. It is expected that precision medicine would improve the treatment of particular cancer types, including breast and colon cancer, as well as the creation of tailored treatments in oncology. Furthermore, it is expected that the substantial efforts of market participants will support market growth.
At the vanguard of the genomics revolution are Canadian researchers, companies, and institutions, who are releasing the science’s promise to spur industry innovation, solve global issues, and enhance people’s quality of life. The Canadian Genomics Strategy was introduced in February 2025 and is supported by a $175.1 million federal investment spread over seven years, beginning in 2024–2025.
Rising economies like China are driving the Asia Pacific.
Asia Pacific is expected to host the fastest-growing personalized medicine market during the forecast period. It is anticipated that the region’s growth will be fueled by the expansion of significant pharmaceutical and healthcare enterprises as well as improved healthcare infrastructure. Because of the low cost of production, including clinical trials, and the growing demand for end-use, many pharmaceutical firms are moving their operations and manufacturing centers to Asia Pacific. In the US, pharmaceutical companies typically spend around USD 50 million to create a medicine, carry out clinical studies, and obtain FDA clearance. Compared to its Asian competitors, this is noticeably higher. As a result, the area will see a sharp increase in demand for tailored treatment.
- In December 2024, Chinese hospitals will participate in ongoing research in Singapore that seeks to provide accurate and customized ways to identify and treat early indications of Asian-specific cardiovascular disorders.
- In May 2023, a swimming microrobot was created by Chinese researchers. The study, which was published in the journal Science Advances, claims that this demonstrates the potential for precision medicine and enables improved vascular navigation.
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Market Segmentation
By product, the personalized nutrition & wellness segment led the personalized medicine market in 2024. A new field of study, personalized nutrition, has made its way into the clinical setting with the introduction of the therapeutic diet for health optimization. As consumers become more conscious of their individual health needs, the demand for personalized nutrition is growing. The advantages of personalized nutrition are numerous and include better health outcomes, increased consumer trust, and a deeper relationship between brands and their loyal customers.
By product, the personalized medicine therapeutics segment is expected to achieve the fastest growth rate during the forecast period. The goal of personalized medicine is to adjust medication based on the unique genetic, biochemical, and lifestyle characteristics of each patient. Prioritizing response optimization and reducing side effects from therapy can greatly enhance patient care and quality of life.
By end-use, the hospital segment dominated the personalized medicine market in 2024. Demand has increased over the past few decades due to the expansion of the hospital network worldwide. There is a notable increase in demand for this category as a result of hospitals having superior infrastructure than other medical institutions and seeing more patient traffic. Since hospitals handle more than half of all reported cases of unusual and serious illnesses, there is a considerable need for alternative treatment, including customized medicine, in these settings.
Competitive Landscape
GE Healthcare, Illumina, Inc., ASURAGEN, INC., Abbott, Dako A/S, Exact Sciences Corporation, Danaher Corporation (Cepheid, Inc.), Decode Genetics, Inc., QIAGEN, Exagen Inc., Precision Biologics, Celera Diagnostics LLC., Biogen, Genelex, International Business Machines Corporation (IBM), Genentech, Inc., 23andMe, Inc.
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Recent Developments in the Personalized Medicine Market
- In December 2024, the Future Medicines Institute (FMI), an industry-led collaborative venture worth £55 million, was established by Economy Minister Conor Murphy with the goal of developing the precision medicine business in the north.
- In October 2024, with $4 million in venture funding led by Giant Ventures and Obvious Ventures, Ataraxis AI, the top AI precision medicine business, came out of stealth.
- In May 2024, the $263 million (US$192 million) Fund II of Amplitude Ventures, a full-stack venture capital firm that focuses on investing in precision medicine at the nexus of biology and AI, closed.
- In March 2024, with $400 million in funding, precision medicine firm Mirador Therapeutics was founded with the goal of developing many treatment initiatives that target fibrotic and immune-mediated inflammatory disorders.
Segments Covered in the Report
By Product
- Personalized Medicine Diagnostics
- Genetic Testing
- Direct-to-consumer (DTC) Diagnostics
- Esoteric Lab Services
- Esoteric Lab Tests
- Personalized Medicine Therapeutics
- Pharmaceutical
- Genomic Medicine
- Medical Devices
- Personalized Medical Care
- Telemedicine
- Health Information Technology
- Personalized Nutrition & Wellness
- Retail Nutrition
- Complementary & Alternative Medicine
By End-use
- Hospitals
- Diagnostic Centers
- Research & Academic Institutes
- Others
By Region
- North America
- U.S.
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- Denmark
- Norway
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East and Africa (MEA)
- South Africa
- UAE
- Saudi Arabia
- Kuwait
Discover our detailed Table of Contents (TOC) for the Personalized Medicine Market @ https://www.towardshealthcare.com/table-of-content/personalized-medicine-market-sizing
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About Us
Towards Healthcare is a leading global provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations. We are a global strategy consulting firm that assists business leaders in gaining a competitive edge and accelerating growth. We are a provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations.
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