In 2022, total spending on treatments with precision medicine stood at some 32 billion U.S. dollars globally. By 2027, it is projected that total spending will increase to around 124 billion dollars. The idea behind precision medicine, also called personalized medicine, is that every patient needs a specific, tailored approach instead of a one-size-fits-all approach. This is the case, for example, with the various types of cancer which are impacted by many individual factors like people's genetics, lifestyle, environment, etc.

The statistic shows the total precision medicine market size worldwide in 2017 and a forecast for 2026, by region. In 2017, the global precision medicine market generated nearly 49 billion U.S. dollars. Until 2026, it is estimated that it will increase up to over 140 billion dollars.

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.

Access the summary of the Precision Medicine market report, featuring key insights, executive summary, market size, CAGR, growth rate, and future outlook.

Introduction

Personalized Medicine Statistics: Personalized medicine is also called precision medicine, and it aims to provide a more individualized approach to specific healthcare treatment and intervention for the patient based on the patient’s genetic makeup, lifestyle, and environment. Over the years, this developed approach has grown significantly due to the development in genomics, biotechnology, and bear data.

Therefore, here is a detailed overview of the personalized medicine statistics for the year 2024.

In 2022, some 2.2 million genetic tests performed worldwide were used for treatments with precision medicine. By 2027, it is projected that this number will increase to around 5.5 million. The idea behind precision medicine, also called personalized medicine, is that every patient needs a specific, tailored approach instead of a one-size-fits-all approach. This is the case, for example, with the various types of cancer which are impacted by many individual factors like people's genetics, lifestyle, environment, etc.

Artificial Intelligence in Precision Medicine Market Share size and share are expected to exceed USD 38.88 billion by 2034, with a compound annual growth rate (CAGR) of 35.5% during the forecast period.

Market Overview:

South East Asia precision medicine market size is projected to exhibit a growth rate (CAGR) of 5.40% during 2024-2032. The increasing prevalence of chronic diseases, advancements in genomics and technology, supportive government initiatives, collaborative research, and rising adoption of electronic health records represent some of the key factors driving the market.

Precision medicine is a groundbreaking approach to healthcare that tailors medical treatment and interventions to individual patients based on their unique genetic, environmental, and lifestyle factors. Compared to the traditional one-size-fits-all model, precision medicine recognizes that individuals may respond differently to the same treatment due to genetic variations and other personal characteristics. It involves the integration of advanced technologies, such as genomics, proteomics, and data analytics, to gather comprehensive information about a patient's molecular and cellular makeup. By analyzing this vast array of data, healthcare professionals can identify specific biomarkers and genetic mutations that contribute to disease susceptibility or response to therapy. Precision medicine allows for the development of highly targeted and personalized treatment plans, optimizing efficacy while minimizing potential side effects. Precision medicine has shown remarkable success in the treatment of various diseases, including certain types of cancer, where therapies can be tailored to target specific genetic mutations driving the growth of tumors. The field continues to evolve rapidly, offering the promise of more effective and efficient healthcare interventions that consider the individual nuances of each patient for improved outcomes and patient-centric care.

South East Asia Precision Medicine Market Trends:

The evolving healthcare landscape and the increasing emphasis on personalized treatment strategies in South East Asia represent the primiary factor driving the growth of precision medicine. In line with this, the rising prevalence of chronic diseases such as cancer, cardiovascular diseases (CVD), and diabetes in the region prompting a shift toward precision medicine, as it offers targeted therapies based on individual patient profiles is creating a positive outlook for market expansion. Moreover, significant advancements in genomic research and technology have made genetic testing more accessible and affordable, thus strengthening the market growth. In confluence with this, the growing awareness about the potential benefits of personalized medicine among healthcare providers and the general population is providing an impetus to the market growth. Concurrently, supportive initiatives and investments in healthcare infrastructure, research, and education by the governments in Southeast Asia as they recognize the potential of precision medicine to improve healthcare outcomes and enhance the overall health of their populations are contributing to the market expansion. In addition to this, extensive collaborations between academic institutions, healthcare organizations, and pharmaceutical companies fostering the discovery of new biomarkers, and the development of innovative therapies tailored to the genetic and molecular characteristics of patients in the region are bolstering the market growth. Furthermore, the increasing availability of electronic health records (EHRs) and the adoption of health informatics systems facilitating the seamless integration of patient data and enabling healthcare providers to make more informed and personalized treatment decisions are presenting lucrative opportunities for market expansion.

South East Asia Precision Medicine Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the regional and country levels for 2024-2032. Our report has categorized the market based on product, technology, application, and end user.

Product Insights:

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• Consumables
• Instruments
• Services
  

The report has provided a detailed breakup and analysis of the market based on the product. This includes consumables, instruments, and services.

Technology Insights:

• Big Data Analytics
• Bioinformatics
• Gene Sequencing
• Drug Discovery
• Companion Diagnostics
• Others
  

A detailed breakup and analysis of the market based on the technology have also been provided in the report. This includes big data analytics, bioinformatics, gene sequencing, drug discovery, companion diagnostics, and others.

Application Insights:

• Oncology
• Central Nervous System (CNS)
• Immunology
• Respiratory Medicine
• Infections
• Others
  

The report has provided a detailed breakup and analysis of the market based on the application. This includes oncology, central nervous system (CNS), immunology, respiratory medicine, infections, and others.

End User Insights:

• Hospitals and Clinics
• Diagnostic Centers
• Pharma and Biotech Companies
• Healthcare IT Firms
• Others
  

A detailed breakup and analysis of the market based on the end user have also been provided in the report. This includes hospitals and clinics, diagnostic centers, pharma and biotech companies, healthcare IT firms, and others.

Country Insights:

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• Indonesia
• Thailand
• Singapore
• Philippines
• Vietnam
• Malaysia
• Others
  

The report has also provided a comprehensive analysis of all the major regional markets, which include Indonesia, Thailand, Singapore, Philippines, Vietnam, Malaysia, and Others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

South East Asia Precision Medicine Market Report Coverage:

[213+ Pages Report] The global Precision Medicine Software market size is expected to grow from USD 14,194.50 million to USD 25,840.07 million by 2028, at a CAGR of 10.50% from 2022-2028

The Chinese Precision Medicine Market Report is Segmented by Technology (Big Data Analytics, Bioinformatics, Gene Sequencing, Drug Discovery, Companion Diagnostics, and Other Technologies) and Application (Oncology, Central Nervous System (CNS), Immunology, Respiratory, and Other Applications). The Report Offers Value (in USD) for the Above Segments.

The precision medicine market is projected to reach a value of USD 131,440 million by 2033, expanding at a CAGR of 9.6% during the forecast period (2025-2033). Precision medicine refers to the customized treatment of diseases based on an individual's genetic makeup, lifestyle, and environment. Key growth drivers of the market include the rising prevalence of chronic diseases, increasing healthcare expenditure, and growing awareness and acceptance of personalized medicine. Additionally, technological advancements in genomics, bioinformatics, and data analytics are contributing to market growth. The precision medicine market is segmented based on application, type, and region. The oncology segment dominates the market due to the increasing prevalence of cancer and advancements in cancer diagnosis and treatment. The diagnostics segment holds a larger share of the market compared to the therapies segment. North America is the largest regional market, followed by Europe and Asia Pacific. The market in Asia Pacific is expected to grow at a significant rate during the forecast period due to the growing population, rising healthcare expenditure, and increasing government initiatives to promote personalized medicine. Market Overview Precision medicine, also known as personalized medicine, is an innovative approach to healthcare that tailors treatments to an individual patient's unique genetic profile and other characteristics. The global precision medicine market is rapidly growing, valued at USD 75.6 million in 2021 and projected to reach USD 129.75 million by 2030, exhibiting a CAGR of 7.1% during the forecast period (2022-2030).

The global non-oncology precision medicine market is expected to grow at CAGR of 11.03% and reach a value of $129.96 in 2030. The report categories the global market by application area, ecosystem type.

Precision and personalized medicine refers to a medical model that proposes the customization of healthcare, with decisions and practices being tailored to the individual patient by use of genetic or other information. Precision medicine is reshaping disease treatment, with the potential to provide superior outcomes in smaller patient populations and increasing patient expectations around efficacy. Read More

The size of the Precision Medicine Industry market was valued at USD 81.03 Million in 2023 and is projected to reach USD 115.55 Million by 2032, with an expected CAGR of 5.20% during the forecast period. Precision medicine, more commonly known as personalized medicine, is a new paradigm which transforms the health care system by synchronizing treatment and intervention interventions with an individual's distinct characteristics. This personalization strategy focuses on maximizing therapeutic effects with minimalization of adverse impacts to enhance patient outcome further. Precision medicine encompasses all the various technologies and services, ranging from genomics, proteomics, metabolomics, bioinformatics, to sophisticated analytics. It serves to find biomarkers which can predict the risk of developing a disease or a disease onset before its initial diagnosis and are used for guiding treatment decisions. Research and clinicians examine a human's genetic makeup to locate particular genetic variations that would determine susceptibility and response to therapy. The precision medicine industry is booming at a fast pace. It is driven by rapidly advancing technology, increased availability of genomic data, and the increasing awareness of what can be realized through tailoring the approach in medicine. More precisely, increasing incidence rates of chronic diseases, new effective treatment options, and a growing demand for customized health care products are all factors. Its huge potential to revolutionize health care is tremendous with more targeted treatments and greater efficiency, reduced health care cost, and better quality of life for patients. Though tremendous, there are enormous major challenges like "lack of standardized collection and analysis of data," ethical problems surrounding the use of the information, and the immense high cost of genomic tests. Recent developments include: 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.. Key drivers for this market are: Increasing Online Collaborative Forums, Increasing Efforts to Characterize Genes; Advancement in Cancer Biology. Potential restraints include: Perils of Data Sharing, Shift from Treatment-based to Preventive Healthcare; Declining Trends in FDA Pharmacotherapy Approval Rate. Notable trends are: Oncology Segment is Expected to Witness a Significant Growth Over the Forecast Period..

The global precision medicine market size reached USD 82.1 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 179.4 Billion by 2033, exhibiting a growth rate (CAGR) of 8.63% during 2025-2033. Significant advancements in genomics, increasing healthcare personalization, rising prevalence of chronic diseases, technological innovations, growing investment in research, and a shift towards more effective, tailored treatments are influencing the precision medicine industry.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on product, technology, application, and end user.

In 2022, one percent of genetic tests performed in North America were used for treatments with precision medicine. By 2027, it is projected that this share will increase to two percent. The idea behind precision medicine, also called personalized medicine, is that every patient needs a specific, tailored approach instead of a one-size-fits-all approach. This is the case, for example, with the various types of cancer which are impacted by many individual factors like people's genetics, lifestyle, environment, etc.

Middle East precision medicine market size is projected to exhibit a growth rate (CAGR) of 6.96% during 2024-2032. The growing awareness about the potential of genomics, increasing prevalence of various chronic ailments like diabetes, arthritis, and cardiovascular complications, and rising integration of artificial intelligence (AI) and machine learning (ML) represent some of the key factors driving the market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the regional and country levels for 2024-2032. Our report has categorized the market based on product, technology, application, and end user.

Explore the Precision Medicine Market trends! Covers key players, growth rate 9.9% CAGR, market size $129.37 Billion, and forecasts to 2034. Get insights now!

The North American Precision Medicine Market Report 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 (United States, Canada, and Mexico). The Report Offers the Value (in USD) for the Above Segments.

Data and sripts for the "The Consequences of Data Dispersion in Genomics: A Comparative Analysis of Data Sources for Precision Medicine" manuscript" manuscript, sent to BMC Bioinformatics