Precision Medicine Market, By Application (Oncology, Central Nervous System, Hematology , Immunology , Respiratory , and Others), By Technology (Bioinformatics, Gene Sequencing, Precision Molecular Diagnostics, Big Data Analytics, and Others), By End User (Biopharmaceutical Companies, Diagnostic Laboratories, Academic & Research Institutions, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Feb 2025

Code : CMI145

Pages :170

Formats :

Excel and PDF

Industry : Pharmaceutical

Precision Medicine Market Size and Trends

The precision medicine market is estimated to be valued at USD 102.93 Bn in 2025 and is expected to reach USD 220.68 Bn by 2032, growing at a compound annual growth rate (CAGR) of 11.5% from 2025 to 2032.

Precision Medicine Market Key Factors

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The market is expected to witness significant growth over the forecast period. Emerging technologies enabling more personalized diagnostic and treatment options are driving increased demand. Advancements in fields like pharmacogenomics, genomic sequencing, and companion diagnostics have improved the ability to customize care based on individual factors. Rising incidence of cancer and other chronic diseases internationally also contributes to the need for precision approach. However, high initial costs associated with developing and implementing personalized therapies may limit market expansion potential without further cost reductions over time.

Increasing technological advancements

Increasing technological advancements such as the launch of diagnostic tools that will help doctors evaluate or carry out proper diagnosis of a disease and subsequently guide the patients with proper therapy are expected to drive the market growth during the forecast period. For instance, on February 16, 2022, Invitae Corporation, a leading medical genetics company, announced the launch of FusionPlex Dx and LiquidPlex Dx in Europe, as part of its industry-leading Anchored Multiplex PCR chemistry in-vitro diagnostic (IVD) products. Invitae Corporation is a leading provider of high-quality innovation for precision oncology in the fight against cancer. The FusionPlex and LiquidPlex tests will allow more patients to get access to the right cancer therapy at the right time.