Precision Medicine Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The report covers Global Precision Medicine / Personalized Medicine Market Trends and is Segmented by Technology (Big Data Analytics, Bioinformatics, Gene Sequencing, Drug Discovery, Companion Diagnostics, and Other Technologies), Application (Oncology, CNS, Immunology, Respiratory, and Other Applications), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market size and forecasts are provided in terms of value (USD million) for all the above segments.

Precision Medicine Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Precision Medicine Market Size

Precision Medicine Market Summary
Study Period 2019 - 2030
Market Size (2025) USD 85.24 Billion
Market Size (2030) USD 109.83 Billion
CAGR (2025 - 2030) 5.20 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Medium

Major Players

Precision Medicine Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Precision Medicine Market with other markets in Healthcare Industry

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Precision Medicine Market Analysis

The Precision Medicine Market size is estimated at USD 85.24 billion in 2025, and is expected to reach USD 109.83 billion by 2030, at a CAGR of 5.2% during the forecast period (2025-2030).

The COVID-19 pandemic affected the market for precision medicine. For instance, an article published in the JAMA Network in May 2021 reported precision medicine approaches to emphasize more precise diagnosis and treatment based on a range of biomarkers, including genetic variants and data about patients' environment, lifestyle, and behaviors, which are useful in understanding variations in individuals' susceptibility and responses to COVID-19. Thus, the COVID-19 pandemic sparked a surge in demand for precision medicine. However, in the current scenario, it is anticipated that with the emergence of other SARS-CoV-2 strains and the presence of other diseases, the demand for precision medicine may keep on increasing over the forecast period.

The factors that are driving the growth of the studied market are increasing online collaborative forums, increased efforts to characterize genes, and advancements in cancer biology. In the past few years, several gene therapies, diagnostics, and medicines have been introduced in this field due to the rising incidence of life-threatening medical conditions, such as cancer and rare diseases. For instance, according to the Globocan 2021 fact sheet, an estimated 21.8 million new cancer cases are expected to be reported by 2025. The increasing incidence of cancer cases is expected to drive the need for precision medicine for the effective treatment of patients and thus contribute to the growth of the studied market.

Furthermore, technological advancements and advances in cell biology are fueling the growth of the market under consideration.For instance, in May 2021, AdventHealth expanded its genomics program with the launch of a data-driven precision medicine initiative that will structure and integrate longitudinal patient data with molecular testing data, creating a dataset and disease network models to help the health system better predict the development of diseases and responses to treatments. Thus, such advancements are driving the growth of the studied market.

Moreover, the creation of online forums for specialized areas like oncology and neurology will also boost the market. For instance, there are online forums planned for May 2022 in New Jersey, United States, and for November 2022 in Berlin, Germany, which will provide a platform for healthcare professionals, industry, patient groups, researchers, payers, and governments to share their experiences and vision for a future of improved cancer patient outcomes. Thus, such forums demand the development of precision medicine for the growing number of cancer cases in the country, thus driving the growth of the studied market.

Innovation and the availability of new technology are other key factors for the market's growth. For instance, in November 2021, the Cleveland Clinic expanded its advanced genomic testing platform as the standard of care for patients with cancer. This expanded capability to test tumor samples involves whole-exome sequencing, which examines all the portions of DNA in the genes responsible for making proteins in the body, and RNA sequencing, which assesses how these proteins are encoded. With advancements in precision therapies and diagnostics, coupled with breakthrough innovations such as Next Generation Sequencing (NGS) and big genomic data, the industry is expected to witness rapid growth during the forecast period.

Thus, due to the increasing number of online collaborative forums, increasing efforts to characterize genes, and advancements in cancer biology, the market is expected to witness significant growth over the forecast period. However, the perils of data sharing, the shift from treatment-based to preventive healthcare, and declining trends in the FDA pharmacotherapy approval rate may slow down the growth of the studied market.

Precision Medicine Industry Overview

There are a lot of different companies that work both globally and locally in the precision medicine market. Some of the companies are Astarte Medical, AstraZeneca PLC, Biogen, Bristol-Myers Squibb, F Hoffmann-La Roche AG, Laboratory Corporation of America Holdings, Medtronic PLC, Myriad Genetics Inc., Novartis AG, Pfizer Inc., Qiagen NV, Quest Diagnostics, and Thermo Fisher Scientific Inc.

Precision Medicine Market Leaders

  1. Pfizer Inc.

  2. Qiagen NV

  3. Thermo Fisher Scientific Inc.

  4. Novartis AG

  5. Medtronic PLC

  6. *Disclaimer: Major Players sorted in no particular order
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Precision Medicine Market News

  • December 2022: Roche reported the launch of a drug for a rare autoimmune disorder, neuromyelitis optica spectrum disorder (NMOSD), in India by the end of 2023. This drug is focused on precision medicine.
  • November 2022: BGI Genomics and the University of Pécs (UP) agreed to launch a joint laboratory in Hungary. The joint lab is to start official operations to accelerate the development of genomic sequencing and clinical diagnostic services while strengthening BGI Genomics and the UP's innovative precision medicine developments in the Central and Eastern European region.

Precision Medicine Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Overview
  • 4.2 Market Drivers
    • 4.2.1 Increasing Online Collaborative Forums
    • 4.2.2 Increasing Efforts to Characterize Genes
    • 4.2.3 Advancement in Cancer Biology
  • 4.3 Market Restraints
    • 4.3.1 Perils of Data Sharing
    • 4.3.2 Shift from Treatment-based to Preventive Healthcare
    • 4.3.3 Declining Trends in FDA Pharmacotherapy Approval Rate
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Threat of New Entrants
    • 4.4.2 Bargaining Power of Buyers/Consumers
    • 4.4.3 Bargaining Power of Suppliers
    • 4.4.4 Threat of Substitute Products and Services
    • 4.4.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION (Market Size by Value - USD million)

  • 5.1 Technology
    • 5.1.1 Big Data Analytics
    • 5.1.2 Bioinformatics
    • 5.1.3 Gene Sequencing
    • 5.1.4 Drug Discovery
    • 5.1.5 Companion Diagnostics
    • 5.1.6 Other Technologies
  • 5.2 Application
    • 5.2.1 Oncology
    • 5.2.2 CNS
    • 5.2.3 Immunology
    • 5.2.4 Respiratory
    • 5.2.5 Other Applications
  • 5.3 Geography
    • 5.3.1 North America
    • 5.3.1.1 United States
    • 5.3.1.2 Canada
    • 5.3.1.3 Mexico
    • 5.3.2 Europe
    • 5.3.2.1 Germany
    • 5.3.2.2 United Kingdom
    • 5.3.2.3 France
    • 5.3.2.4 Italy
    • 5.3.2.5 Spain
    • 5.3.2.6 Rest of Europe
    • 5.3.3 Asia-Pacific
    • 5.3.3.1 China
    • 5.3.3.2 Japan
    • 5.3.3.3 India
    • 5.3.3.4 Australia
    • 5.3.3.5 South Korea
    • 5.3.3.6 Rest of Asia-Pacific
    • 5.3.4 Middle East and Africa
    • 5.3.4.1 GCC
    • 5.3.4.2 South Africa
    • 5.3.4.3 Rest of Middle East and Africa
    • 5.3.5 South America
    • 5.3.5.1 Brazil
    • 5.3.5.2 Argentina
    • 5.3.5.3 Rest of South America

6. COMPETITIVE LANDSCAPE

  • 6.1 Company Profiles
    • 6.1.1 Astarte Medical
    • 6.1.2 AstraZeneca PLC
    • 6.1.3 Biogen
    • 6.1.4 Bristol-Myers Squibb
    • 6.1.5 F Hoffmann-La Roche Ltd.
    • 6.1.6 Laboratory Corporation of America Holdings
    • 6.1.7 Medtronic PLC
    • 6.1.8 Myriad Genetics Inc.
    • 6.1.9 Novartis AG
    • 6.1.10 Pfizer Inc.
    • 6.1.11 Qiagen NV
    • 6.1.12 Quest Diagnostics
    • 6.1.13 Thermo Fisher Scientific Inc.
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Precision Medicine Industry Segmentation

As per the scope of the report, precision medicine, a combination of molecular biology techniques and system biology, is an emerging approach to disease treatment and prevention. The market growth for this approach is gaining momentum as it takes individual variability in genes, environment, and lifestyle into account when developing drugs and vaccines. The global market for precision medicine is segmented by technology (big data analytics, bioinformatics, gene sequencing, drug discovery, companion diagnostics, and other technologies), application (oncology, CNS, immunology, respiratory, and other applications), and geography (North America, Europe, Asia-Pacific, the Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.

Technology Big Data Analytics
Bioinformatics
Gene Sequencing
Drug Discovery
Companion Diagnostics
Other Technologies
Application Oncology
CNS
Immunology
Respiratory
Other Applications
Geography North America United States
Canada
Mexico
Geography Europe Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Geography Asia-Pacific China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Geography Middle East and Africa GCC
South Africa
Rest of Middle East and Africa
Geography South America Brazil
Argentina
Rest of South America
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Precision Medicine Market Research FAQs

How big is the Precision Medicine Market?

The Precision Medicine Market size is expected to reach USD 85.24 billion in 2025 and grow at a CAGR of 5.20% to reach USD 109.83 billion by 2030.

What is the current Precision Medicine Market size?

In 2025, the Precision Medicine Market size is expected to reach USD 85.24 billion.

Who are the key players in Precision Medicine Market?

Pfizer Inc., Qiagen NV, Thermo Fisher Scientific Inc., Novartis AG and Medtronic PLC are the major companies operating in the Precision Medicine Market.

Which is the fastest growing region in Precision Medicine Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Precision Medicine Market?

In 2025, the North America accounts for the largest market share in Precision Medicine Market.

What years does this Precision Medicine Market cover, and what was the market size in 2024?

In 2024, the Precision Medicine Market size was estimated at USD 80.81 billion. The report covers the Precision Medicine Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Precision Medicine Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Precision Medicine Industry Report

The precision medicine market is on an impressive growth trajectory, with expectations to expand significantly, driven by advancements in genomics, bioinformatics, and a deeper understanding of genetic disorders. This expansion is further supported by the widespread adoption of companion diagnostics and genetic testing, catering to a range of applications from oncology to immunology. Despite facing hurdles like high costs and complex reimbursement processes, the market is ripe with opportunities, notably in cell and gene therapies, paving the way for more personalized treatment options. According to Mordor Intelligence™ Industry Reports, the precision medicine market size is forecasted to continue its growth, promising to revolutionize healthcare with targeted therapies, underscoring a bright future for personalized patient care. Get a sample of this industry analysis as a free report PDF download.