The global personalized medicine market size surpassed USD 614.24 billion in 2024 and is predicted to reach around USD 1,350.86 billion by 2034, registering a CAGR of 8.2% from 2025 to 2034.
| Industry Worth | Details |
| Market Size in 2025 | USD 664.61 Billion |
| Market Size by 2034 | USD 1,350.86 Billion |
| Market Growth Rate from 2025 to 2034 | CAGR of 8.2% |
Personalized medicine refers to the kinds of medicine or treatment that are tailored and customized for individual patients according to their physiological characteristics. The personalized medicine market is growing rapidly due to technological advancements in the healthcare market and the increase in consumer awareness of such personalized medicines.
Personalized medicine goes hand-in-hand with the development of drugs, diagnosis, and intervention, cancer genomics, and respiratory proteomics. Personalized medicine has several benefits, including improving patient health outcomes, a reduction in healthcare expenditure, and providing patients with tailored drugs and treatment protocols to ensure overall health. The market is expected to grow with the government initiative and investments in the healthcare sector for the research and development of such personalized medicine.
A press release by Illumina Inc. states that 52% of CGP-tested patients received a matched targeted therapy or immunotherapy as opposed to 32% of patients who received conventional systemic chemotherapy alone.
"Cologuard Plus builds on the proven performance of Cologuard; It transformed colorectal cancer screening—driving an estimated 77% of the nationwide increase in CRC screening participation from 2018 to 20213 and enabling more than 19 million screenings to date. Cologuard Plus delivers key enhancements to help improve patient care and streamline health care delivery, bringing us closer to eradicating this highly preventable and treatable disease."
"Theranostics has revolutionized the way we approach patient care by combining targeted therapy with precise diagnostic tools, offering a personalized treatment strategy. This growing practice allows us to deliver treatments that are tailored to each patient's specific condition. However, the true potential of Theranostics can only be fully realized with continuous research and development. As we advance precision medicine, it is crucial that we collaborate with industry leaders – like GE HealthCare – and invest in innovation to refine and expand personalized medicine, helping ensure even better outcomes for patients in the future."
North America
North America dominated the personalized medicine market in 2024. The dominance of the region is due to the presence of several key biotechnology and pharmaceutical players, along with an increase in awareness and consumer demand for personalized medicine and an increased use of healthcare information technology systems for optimizing clinical workflows, as well as the advent of next-generation sequencing technologies. Furthermore, the growth in the healthcare sector in the region through heavy investment by the government. The private sector is also now playing a pivotal role in the growth of personalized medicine, with major investment undertakings in clinical trials and drug discovery.
Asia-Pacific
Asia-Pacific is anticipated to be the fastest-growing market in the forecasted period of 2025-2034. The region exhibits low cost for clinical trials, thus drawing heavy foreign investments. Additionally, the region contains a huge patient pool to cater to the market, and the increase in investments for technological development in the healthcare sector from both the government and private sector also contributes to the market.
The personalized medicine market is a competitive market with many leading players globally in the healthcare sector focusing on the development of personalized medicine. Some of the prominent players in the market are Illumina Inc., Precision Biologics, Danaher Corporation, GE Healthcare, Celera Diagnostics LLC, Decode Genetics Inc., Exact Sciences Corporation, IBM Corporation, Exagen Inc., and Biogen.
The personalized medicine market is dominated by several companies but the companies that are renowned for their contribution to the market are listed below:
Danaher Corporation is a leading global company that provides services like designing, manufacturing, and marketing for professional, industrial, commercial, and consumer products. The company recorded a revenue of US$ 23,875 million in the year 2024.
GE Healthcare is a global healthcare company that provides healthcare diagnostics services, manufacturing devices, and digital solutions. The key focus of the company is on the development of medical technology, pharmaceutical diagnostics, patient care solutions, and biopharmaceutical manufacturing.
Illumina Inc. is a leading global biotechnology company based in the United States that provides services for the analysis of biological function and any genetic variations. The company recorded a revenue of US$ 4,372 million in the year 2024.
Published by Laxmi Narayan
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| Stats ID: | 8216 |
| Format: | Databook |
| Published: | April 2025 |
| Delivery: | Immediate |
| Stats ID: | 8216 |
| Format: | Databook |
| Published: | April 2025 |
| Delivery: | Immediate |
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