Understanding Key Drivers and Growth Opportunities in the Personalized Medicine Market: Trends and Market Size Insights
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
Which Primary Drivers Are Supporting the Continued Market Growth of thePersonalized Medicine Market?
The personalized medicine market’s growth is anticipated to be propelled by an increase in the number of rare diseases. This surge refers to the expanding population identified with disorders such as Klinefelter Syndrome, Aarskog Syndrome, and Abetalipoproteinemia. Personalized medicine presents customized treatment plans which cater to the unique healthcare needs of patients suffering from rare diseases. For example, Genetic Alliance UK, a national charity based in the UK that supports individuals impacted by genetic, rare, and undiagnosed conditions, reported in February 2024, that there are 3.5 million people living with a rare condition in the UK, with 1 in 17 individuals likely to suffer from a rare condition at any time in their lifetime. Thus, as the number of rare disease increases, it contributes to the growth of the personalized medicine market.
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#What is the Anticipated CAGR of the Personalized Medicine Market, and What Factors Will Drive It?
The size of the personalized medicine market has seen a significant increase lately. The market, which was worth $386.27 billion in 2024, is projected to escalate to $426.82 billion in 2025 with a compound annual growth rate (CAGR) of 10.5%. Factors contributing to the growth in the past have been the emergence of companion diagnostics, the rise of healthcare focused on the patient, a shift in drug development paradigms, efforts towards healthcare cost containment, and a heightened prevalence of chronic diseases.
The market size of personalized medicine is forecasted to witness a swift expansion in the coming years, ballooning to $662.67 billion in 2029 with an 11.6% compound annual growth rate (CAGR). The projected rise over the forecast period can be ascribed to sustained advancements in genomics, the broadening of biomarker identification, increased usage of telemedicine, supportive regulatory frameworks, and cooperative data sharing. The forecast period is also expected to see significant trends such as the implementation of artificial intelligence (AI), progress in genomic sequencing, the consolidation of data and analytics, immunotherapy and individualised treatments, patient empowerment through augmented decision-making, and collaborative alliances.
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How Are Consumer Market Innovations Shaping the Current and Future Landscape of thePersonalized Medicine Market?
The advancement of technology is an emerging trend in the personalized medicine market. To maintain their market position, leading companies in the personalized medicine sector are adopting revolutionary technologies. For example, in April 2023, OM1, a healthcare company based in the United States that makes use of real-world data and AI to support healthcare providers, secured a patent for its AI-driven platform aimed at boosting personalized medicine. This platform uses large-scale data analysis to generate pertinent insights into diagnosis, progression, and the response to treatment. Its importance is underscored by its capability to provide customized healthcare suggestions, improve healthcare providers’ decision-making process, and expedite clinical trials by identifying appropriate candidates effectively, thereby aiding the progress of personalized medicine in the market.
Who Are the Key Market Players Influencing the Growth of the Corn and Personalized Medicine Industry?
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.
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Which Key Market Segments Comprise the Personalized Medicine Market and Drive Its Revenue Growth?
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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Which Regions Are Emerging as Leaders in 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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