Global Personalized Medicine Market

Individual genetic test results help physicians make specific plans for their patients' medical assessments and protection including their treatments. The Human Genome Project made more patient data available for medicine providers to use in developing treatments that target each patient's unique genetics. The unique genetic and molecular information from a patient helps to predict which treatment their body will respond to best. Current genomic research activities now direct precision medicine towards treating non-cancer patients as well. Data shows that personalized medicine research now handles the majority of its clinical trials outside cancer treatment sectors (Diaceutics Group latest report). Research progress beyond cancer areas will spur market development by the near future. Non-cancer treatments such as brain diseases, infectious disorders, and heart conditions will create high market returns. Strong genetic links between Alzheimer's and Parkinson's diseases make them best candidates for studying beyond cancer treatments in precision medicine.

The anticipated Global Personalized Medicine market size is poised to reach USD XX. XX Million by 2024, with a projected escalation to USD XX.XX Million by 2032, reflecting a compound annual growth rate (CAGR) of X.X% during the forecast period.

Market Dynamics:

Driver:

The market expects Next-Generation Sequencing growth to strongly influence how doctors will use personalized medicine over the next seven years. emporary reductions in sequencing whole genome prices follow a similar pattern to semiconductor advancement rules in life science development. Medical Device Network reported in 2023 that sequencing requires lower payments because technology advances and industry rivalry improves. The rise of rare diseases drives more demand for these market needs. The new understanding of human genetic traits created opportunities for developing medical processes that target specific needs. Research from September 2022 at the University of California at Irvine showed how specific genome editing according to patient needs helps heal inherited diseases of the retina.

Restraint:

Official government agencies determine how personalized medicine products need to be packaged and labeled. A government administration organization responsible for monitoring medical products is called the Food and Drug Administration (FDA). Market professionals have to follow these requirements during their production of personalized medicines. Authorities have the official power to take legal steps against anyone who ignores their packaging requirements. The market development of personalized medicine remains limited because strict government rules stay in effect through the forecast period. An article from 2023 indicates that precision medicine boosts healthcare costs mainly in nations with privatized medical services such as the United States. The article explains that the high drug costs will restrict the treatment to patients who have private insurance plans from large companies while creating new health inequalities.

Opportunity:

Medical technology including artificial intelligence and machine learning provide the best opportunity to make specific diagnosis and treatment options. The creation of bioinformatics technology in healthcare IT functions helps grow the market. More funding for research to find ideal gene therapies through test trials and medical marker studies will boost market growth for precise medicine solutions. Pharmacogenomics research supports companies when creating drugs meant for precision medicine. Pharmacogenomics uses genomic data to determine how medicine works in patients and what impacts drug actions will happen to them. The main purpose of pharmaceutical companies now is to make cancer treatment drugs that will boost business growth opportunities.

Key Players:

·         Biocrates Life Sciences

·         Qiagen

·         Tepnel Pharma Services

·         Novartis

·         NanoString Technologies

·         Menarini Silicon Biosystems

·         Pfizer

·         Nestle Health Science

·         Eagle Genomics

·         Roche

·         Quest Diagnostics

·         Teva Pharmaceuticals

·         Intomics

Recent Development:

·         Roche received CE Mark authorization for its FOLR1 RxDx Assay in November 2024 which helps identify epithelial ovarian cancer patients who can get ELAHERE (mirvetuximab soravtansine) treatment as a platinum-resistant ovarian cancer therapy for FR?-positive patients.

·         Foundation Medicine partnered with Syndax Pharmaceuticals in September 2024 to create an NPM1 mutation test to identify AML patients.

Segment Insights:

By End-use

The worldwide business market contains three major client sectors: pharmaceutical, diagnostic, and healthcare IT groups. During 2021 pharmaceutical businesses captured a large section of overall income. Precision medicine affects all stages of the pharmaceutical product chain from initial research to entering the market. To satisfy proof of drug efficiency and healthcare worth for public administrations and payers pharmaceutical companies now use personalized medicine development methods. Personalized medicine is highly individualized. The aging market population and patients we see today are pushing governments and insurance providers to request proof of both patient benefits and treatment value.

By Application

The worldwide market works with different treatment areas including cancer care, immune system disorders, brain conditions, respiratory difficulties and various other health fields. The oncology market generated the highest amount of income during 2021. Accelerating research in precision oncology helps doctors decide precise treatments based on the unique DNA and cell patterns of their patients. The main aim of precision oncology is to help patients experience better care results. Painful chemotherapy damages both healthy cells and cancer cells because it affects almost every cell kind in the body. Nowadays targeted drugs serve as the essential starting point for developing new ways to treat cancer. NGS technology keeps getting better for precision oncology because scientists are discovering more about how cancer grows and develop accurate tests faster at reduced costs. During 2021 the CNS segment earned only a small percentage of total revenue in the pharmaceutical market.

Regional Insights:

The region of North America earned the biggest company revenues for 2021. The United States precision medicine market growth will expand thanks to increased healthcare building investments and research and development funding. Self-directed cancer treatments for colorectal tumors and breast cancer patients showed notable medical gains because of modern medical precision. Breast cancer takes the second position behind heart disease as an American killer. Data from 2022 shows that nearly 1,9 million people will develop cancer in the United States and 609,360 people will pass away from the condition amounting to around 1,670 daily deaths. Precise medical practices help doctors develop exact cancer treatments for patients with certain specific cancers such as colon and breast cancer. Market growth depends heavily on the effective work of market players in this field.  

Segmentation:

By Product

·         Personalized Medicine Testing

·         Personalized Medicine Therapeutics

By Application

·         Oncology

·         Neurology

·         Cardiology

By End-use

·         Pharmaceutical

·         Diagnostic

·         Healthcare IT Companies

·         Others

By Region

North America

·         USA

·         Canada

·         Mexico

Europe

·         France

·         UK

·         Spain

·         Germany

·         Italy

·         Rest of Europe

Asia Pacific

·         China

·         Japan

·         India

·         South Korea

·         Rest of Asia Pacific

Middle East & Africa

·         GCC

·         South Africa

·         Rest of the Middle East & Africa

South America

·         Brazil

·         Argentina

·         Rest of South America

What to Expect from Industry Profile?

1.       Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the Personalized Medicine market in the world.

2.       Use the PORTER’s Five Forces analysis to determine the competitive intensity and therefore market attractiveness of the Global Personalized Medicine market.

3.       Leading company profiles reveal details of key Personalized Medicine market players’ global operations, strategies, financial performance & recent developments.

4.       Add weight to presentations and pitches by understanding the future growth prospects of the Global Personalized Medicine market with forecast for the decade by both market share (%) & revenue (USD Million).

FAQ’s

1) Which are the key drivers supporting the growth of the Personalized Medicine market?

·         Development of next-generation sequencing, more and more companion/associated diagnostics, more and more retail clinics in the developed parts of North America and Europe, more and more cancer prevalence, and more and more use of biomarkers for PM cancer treatment.

2) Which segment accounted for the largest personalized medicine market share?

·         North America led the market for personalized medicine with 40.37% market share in 2023. This can be explained by the growing use of NGS technology and healthcare IT infrastructure in clinical workflow and the ease of government policies and funds.

2) What is the total CAGR expected to be recorded for the Personalized Medicine market during the forecast period?

·         The Global Personalized Medicine Market is poised to grow at a CAGR of XX.XX% from 2025 to 2032.

3) Who are the major companies dominating the Global Personalized Medicine Market?

·         Biocrates Life Sciences, Qiagen, Tepnel Pharma Services, Novartis, NanoString Technologies, are the major players of the market.

4) What is the estimated market revenue for the Global Personalized Medicine Market in 2032?

·         The estimated revenue for the Global Personalized Medicine Market in 2032 is USD XX.XX Million.