Precision Medicine Market Report 2025 (Global Edition)

Global Precision Medicine Market Report 2025 Market Size Split by Type (Diagnostics, Therapies), by Application (Oncology, Breast Cancer, Lung Cancer, Prostate Cancer, Colorectal Cancer, Others, , Cen...

Precision Medicine Market Report Description

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Competitive Landscape: Precision Medicine Market

The competitive landscape of the industry is defined by established pharmaceutical and biotechnology companies that provide pharmaceutical treatment products and advanced technology products which are competing for market share. To expand their range of products, major companies are taking part in strategic efforts such as collaborations, investment, collaboration, and new launches. Companies are proactively using multiple strategies to tackle the increasing need for precision medicines.
For instance, in February 2023, Roche announced a partnership with Janssen Biotech Inc. in the precision medicine segment to develop numerous companion diagnostics technologies such as digital pathology, immunohistochemistry, polymerase chain reaction, next-generation sequencing, and immunoassays.
 

Top Companies Market Share in Precision Medicine Industry: (In no particular order of Rank)

• Abbott Laboratories
• Ab-Biotics Sa
• Almac Group Ltd.
• Asuragen Inc
• Biobase Gmbh
• Biomérieux Sa
• Caris Life Sciences
• Cepheid Inc.
• Celtics Healthcare Technologies Gmbh
• GE Healthcare
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Which Region Will Dominate the Market in 2024?

According to Cognitive Research, the North American region dominated the Precision Medicine Market and accounted for the highest revenue of XX% in 2024 and it is projected that it will grow at a CAGR of XX% in the future The growth of the market is contributed to the rising prevalence of cancer, increasing investments in enabling a precision medicine approach. Many of the top biotechnology and pharmaceutical businesses in the world are based in the United States and are making significant investments in precision medicine research and development. Together with significant national research universities and hospitals, these firms are creating companion diagnostics, targeted medicines, and innovative diagnostics. Over the past ten years, North America has made considerable strides toward converting genetic discoveries into practical precision medicines because of a strong research environment and the willingness of private companies to take chances with novel technologies. 
For instance, in June 2022, Canada's Cancer Society reported that 233,900 people in Canada were expected to be diagnosed with cancer by the end of 2022.  
Source(https://cancer.ca/en/about-us/stories/2022/6-key-findings-that-reveal-the-impact-of-cancer-in-canada-in-2022#:~:text=An%20estimated%20233%2C900%20Canadians%20are,Canada's%20growing%20and%20aging%20population.)
For instance, in 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.
Source(https://www.news18.com/news/india/roche-plans-to-launch-drug-for-rare-autoimmune-disorder-focus-on-precision-medicine-in-india-exclusive-6508663.html)
For instance, in March 2021, the National Institute of Health (NIH) invested in the next iteration of a public-private partnership to advance precision medicine research for Alzheimer's disease. Similarly, in March 2021, the National Institute of Health (NIH) invested in the next iteration of a public-private partnership to advance precision medicine research for Alzheimer's disease. 
Source(https://www.nih.gov/news-events/news-releases/nih-invests-next-iteration-public-private-partnership-advance-precision-medicine-research-alzheimers-disease)
 

Which Region Is Expanding at The Fastest CAGR?

The European Region’s Precision Medicine Market is expected to experience the fastest growth rate with a CAGR of XX% during the forecast period. The precision medicine market in Europe holds the second-largest market share, owing to improvements in several domains like diagnostic testing and genome sequencing. Improved technology and procedures are required by the personalized, individual approach to collect, store, and analyze data as well as, more importantly, contextualize, integrate, interpret, and give prompt and accurate decision support in clinical and public health settings. Furthermore, the precision medicine market in Germany had the most market share, while the precision medicine market in the UK was expanding at the quickest rate in the European Union. 
Source(https://www.statista.com/statistics/955711/precision-medicine-market-size-worldwide-by-region/)
Competitive Landscape: Precision Medicine Market
The competitive landscape of the industry is defined by established pharmaceutical and biotechnology companies that provide pharmaceutical treatment products and advanced technology products which are competing for market share. To expand their range of products, major companies are taking part in strategic efforts such as collaborations, investment, collaboration, and new launches. Companies are proactively using multiple strategies to tackle the increasing need for precision medicines.
For instance, in February 2023, Roche announced a partnership with Janssen Biotech Inc. in the precision medicine segment to develop numerous companion diagnostics technologies such as digital pathology, immunohistochemistry, polymerase chain reaction, next-generation sequencing, and immunoassays.
 

 

The current report Scope analyzes Precision Medicine Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

Precision Medicine Market Analysis

Type Segment Analysis of Precision Medicine Market

This report categorizes competitors in the (Keyword) market based on their product offerings and business models. It includes key details such as definitions, benefits, applications, technological advancements, and regional advantages for each type of medical device. Market growth figures, such as market share percentages, revenue, and growth rates (e.g., CAGR), are provided for each segment over the specified period.

Type of Precision Medicine analyzed in this report are as follows:

• Diagnostics
• Therapies

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Precision Medicine Industry. Request a Free Sample PDF!

Segment Performance in the Precision Medicine Market

Application Segment Analysis

The oncology segment holds the largest market share. Precision oncology uses a patient's genetic composition and tumor features to determine which medicines are most effective for that particular patient. By doing this, the patient is exposed to only the necessary therapies and trial-and-error is reduced. Clinical practice is being revolutionized and treatment results are being improved by precision diagnostics. Personalized cancer therapies are being developed thanks to advancements in next generation sequencing, computational analytics, and genetic profiling technologies. The implementation of precision oncology techniques in clinical settings is being enhanced by the widespread adoption of companion diagnostics.
For instance, in April 2023, Agilent Inc announced NGS assay for comprehensive genomic profiling (CGP) for advancing precision oncology. The assay workflow being efficient, automatable, and flexible, made tumor molecular profiling more accessible to the broad clinical research community. This strategy is expected to enhance company to widen its product portfolio.
Source(https://www.agilent.com/about/newsroom/presrel/2023/13apr-ca23016.html)
For instance, in August 2022, Thermo Fisher Scientific released CE-IVD (IVDD) NGS (next generation sequencing) test. The company has also introduced analysis software to expand its access in precision oncology biomarker testing. This helped the company to increase revenue and strengthen its foothold.
Source(https://www.medicalbuyer.co.in/thermo-fisher-scientific-launches-ce-ivd-ivdd-next-generation-sequencing-test-and-analysis-software/)

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Precision Medicine Technology Segment Analysis

Technology Segment Analysis

The Gene sequencing segment holds the largest market share. Gene sequencing is anticipated to hold 31.8% of the market share in 2024. Next-generation sequencing technology advancements have made high-throughput, real-time, and reasonably priced genomic analysis possible. With the use of DNA sequencing, physicians may better comprehend a patient's genetic composition and particular medical concerns. This knowledge helps them customize treatment plans, such as determining the right medications and doses depending on a patient's genetic reaction. Research on uncommon diseases and cancer has been transformed by it. Its increasing use is being aided by ongoing R&D into gene sequencing technology and falling test prices. Simultaneously, the development of increasingly potent gene sequencing-based diagnostics is being aided by the continual expansion in genomic data and computational capacity.
For instance, in November 2023, Illumina launched the Global Health Access Initiative to support the acceleration of pathogen sequencing in low- and middle-income countries
Source(https://www.illumina.com/company/news-center/press-releases/press-release-details.html?newsid=433da4b8-ab13-4d04-a4ab-9e65cc3341c4)
For instance, in August 2023, PacBio agreed to acquire Apton Biosystems. This acquisition is anticipated to accelerate the development of Short-read Sequencer, propelling the market growth
Source(https://www.pacb.com/press_releases/pacbio-enters-into-agreement-to-acquire-apton-biosystems-to-accelerate-the-development-of-a-next-generation-high-throughput-short-read-sequencer/)

• Bioinformatics
• Gene Sequencing
• Precision Molecular Diagnostics
• Big Data Analytics
• Others

Precision Medicine End-User Segment Analysis

End-UserSegment Analysis

The biopharmaceutical companies segment holds the largest market share. This new wave of targeted medications is being introduced by biopharmaceutical companies with insights from functional genomics and human genetics. Recognizing the enormous financial potential of precision medicine, biopharma firms are making significant investments in companion diagnostics development and utilization to pinpoint the ideal patient groups for novel drug candidates. Precision medicine is considered a viable route for expansion because of its lower development cost and risk when compared to conventional therapeutic development. Large expenditures from biopharma are being made in this space as competition increases. 

• Biopharmaceutical Companies
• Diagnostic Laboratories
• Academic & Research Institutions
• Others

Author's Detail

Anushka Gore

Research Associate at Cognitive Market Research

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Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.

Author's Conclusion