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How has the personalized medicine market size evolved in recent years?

The market size for personalized medicine has experienced fast-paced growth in the past few years. The market is predicted to expand from $386.27 billion in 2024 to $426.82 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 10.5%. Factors contributing to the growth during the historic period include the emergence of companion diagnostics, a shift towards patient-centric healthcare, a transformation in drug development methodologies, efforts to contain healthcare costs, and a rising prevalence of chronic diseases.

What are the predictions for the personalized medicine market size in the coming years?

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What key factors are fueling the growth of the personalized medicine market?

The burgeoning occurrence of uncommon illnesses is forecasted to stimulate the expansion of the personalized medicine market. This surge pertains to an escalating count of individuals suffering from conditions like Klinefelter Syndrome, Aarskog Syndrome, and Abetalipoproteinemia. Personalized medication provides custom-made treatments, meeting the singular requirements of patients with rare diseases. Illustratively, the Genetic Alliance UK, a national charity based in the UK aiding those impacted by genetic, rare, and undiagnosed illnesses, reported in February 2024 that within the UK, 3.5 million individuals are coping with a rare ailment and 1 among 17 individuals will confront a peculiar disease at some juncture in their lives. Therefore, as the escalating occurrence of unusual diseases persists, it’s propelling the growth of the personalized medicine market.

How is the global personalized medicine market divided into key segments?

The personalized medicine market covered in this report is segmented –

1) By Product: Personalized Medicine Diagnostics, Personalized Medicine Therapeutics, Personalized Medical Care, Personalized Nutrition and Wellness

2) By Application: Oncology, Neurology, Blood Transfusion Safety, Diabetes, Autoimmune Diseases, Cardiology, Other Applications

3) By End-use: Hospitals, Diagnostic Centers, Research and Academic Institutes, Other End-Users

Subsegments:

1) By Personalized Medicine Diagnostics: Genetic Testing, Biomarker Testing, Companion Diagnostics, Molecular Imaging

2) By Personalized Medicine Therapeutics: Targeted Therapies, Gene Therapies, Monoclonal Antibodies, Cell and Gene Therapy Products

3) By Personalized Medical Care: Tailored Treatment Plans, Patient-Centric Care Models, Digital Health Solutions, Remote Patient Monitoring

4) By Personalized Nutrition And Wellness: Nutrigenomics, Customized Diet Plans, Supplement Personalization, Lifestyle Modification Programs

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Who are the key firms paving the way for growth in the personalized medicine market?

Major companies operating in the personalized medicine market include Bayer AG, Novartis AG, Thermo Fisher Scientific Inc., GlaxoSmithKline plc, AstraZeneca plc, Abbott Laboratories, Danaher Corporation, Eli Lilly and Company, Decode Genetics Inc., GE HealthCare Technologies Inc., Roche Diagnostics, Genentech Inc., Biogen Inc., Illumina Inc., Qiagen N.V., Exact Sciences Corporation, Myriad Genetics Inc., Verily Life Sciences LLC, Guardant Health Inc., Tempus Labs, Oxford Nanopore Technologies, Foundation Medicine Inc., NanoString Technologies Inc., Exagen Inc., Asuragen Inc., Personal Genome Diagnostics, Precision Biologics Inc., Strata Oncology, Genelex Corp, Invitae Corporation, Color Genomics, Helix OpCo LLC, 10x Genomics Inc., Agena Bioscience Inc., Natera Inc., Becton Dickinson and Company, PerkinElmer Inc., Sophia Genetics, Genomic Vision, Personalis Inc.

Which trends are expected to transform the personalized medicine market?

Some of the leading entities in the personalized medicine market are Bayer AG, Novartis AG, Thermo Fisher Scientific Inc., GlaxoSmithKline plc, AstraZeneca plc, Abbott Laboratories and Danaher Corporation. Other significant players include Eli Lilly and Company, Decode Genetics Inc., GE HealthCare Technologies Inc., Roche Diagnostics, Genentech Inc., Biogen Inc. and Illumina Inc. Entities like Qiagen N.V., Exact Sciences Corporation, Myriad Genetics Inc., Verily Life Sciences LLC and Guardant Health Inc., are also key contributors. Tempus Labs, Oxford Nanopore Technologies, Foundation Medicine Inc., NanoString Technologies Inc., and Exagen Inc. are noteworthy participants in this sector. Asuragen Inc., Personal Genome Diagnostics, Precision Biologics Inc., Strata Oncology and Genelex Corp are firm presences too. Invitae Corporation, Color Genomics, Helix OpCo LLC, 10x Genomics Inc., and Agena Bioscience Inc. are also part of this industry. Lastly, Natera Inc., Becton Dickinson and Company, PerkinElmer Inc., Sophia Genetics, Genomic Vision, and Personalis Inc. are also major players in the personalized medicine market.

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What regions are contributing significantly to the growth of the personalized medicine market?

North America was the largest region in the personalized medicine market in 2024. Asia-pacific is expected to be the fastest-growing region in the global personalized medicine market during the forecast period. The regions covered in the personalized medicine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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