Europe Precision Medicine Market Size & Outlook, 2023-2030
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Europe precision medicine market highlights
- The Europe precision medicine market generated a revenue of USD 20,384.4 million in 2023.
- The market is expected to grow at a CAGR of 17.2% from 2024 to 2030.
- In terms of segment, therapeutics was the largest revenue generating application in 2023.
- Diagnostics is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, UK is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 20,384.4 million |
| Market revenue in 2030 | USD 61,865.6 million |
| Growth rate | 17.2% (CAGR from 2024 to 2030) |
| Largest segment | Therapeutics |
| Fastest growing segment | Diagnostics |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Diagnostics, Therapeutics |
| Key market players worldwide | Roche, Siemens Healthineers AG ADR, Janssen Pharmaceuticals, Illumina Inc, Quest Diagnostics Inc, 23andMe Holding Co Class A, NeoDiagnostix, International Business Machines Corp, Myriad Genetics Inc, Medtronic PLC, GE HealthCare Technologies Inc Common Stock, Abbott Laboratories, Dakota Software, Biogen Inc, Qiagen NV, ImmunityBio Inc Ordinary Shares |
Other key industry trends
- In terms of revenue, Europe region accounted for 23.3% of the global precision medicine market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 57,313.9 million by 2030.
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Precision Medicine Market Scope
Precision Medicine Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| ImmunityBio Inc Ordinary Shares | View profile | 628 | 3530 John Hopkins Court, San Diego, CA, United States, 92121 | https://www.immunitybio.com |
| NeoDiagnostix | View profile | 1-10 | Rockville, Maryland, United States, North America | https://neodiagnostix.com |
| Janssen Pharmaceuticals | View profile | 1-10 | Titusville, New Jersey, United States, North America | https://www.xarelto-us.com |
| 23andMe Holding Co Class A | View profile | 816 | 349 Oyster Point Boulevard, South San Francisco, CA, United States, 94080 | https://www.23andme.com |
| Biogen Inc | View profile | 7570 | 225 Binney Street, Cambridge, MA, United States, 02142 | https://www.biogen.com |
| Roche | View profile | 10001+ | Basel, Basel-Stadt, Switzerland, Europe | http://www.roche.com |
| Dakota Software | View profile | 51-100 | Cleveland, Ohio, United States, North America | http://dakotasoft.com |
| Myriad Genetics Inc | View profile | 2700 | 320 Wakara Way, Salt Lake City, UT, United States, 84108 | https://www.myriad.com |
| Qiagen NV | View profile | 5900 | Hulsterweg 82, Venlo, LI, Netherlands, 5912 PL | https://www.qiagen.com |
| Illumina Inc | View profile | 9300 | 5200 Illumina Way, San Diego, CA, United States, 92122 | https://www.illumina.com |
| Quest Diagnostics Inc | View profile | 48000 | 500 Plaza Drive, Secaucus, NJ, United States, 07094 | https://www.questdiagnostics.com |
| Siemens Healthineers AG ADR | View profile | 71400 | Siemensstr. 3, Forchheim, BY, Germany, 91301 | https://www.siemens-healthineers.com |
| Medtronic PLC | View profile | 95000 | Lower Hatch Street, 20 On Hatch, Dublin, Ireland, 2 | https://www.medtronic.com |
| International Business Machines Corp | View profile | 282200 | One New Orchard Road, Armonk, NY, United States, 10504 | http://www.ibm.com |
| Abbott Laboratories | View profile | 114000 | 100 Abbott Park Road, Abbott Park, IL, United States, 60064-6400 | https://www.abbottinvestor.com |
| GE HealthCare Technologies Inc Common Stock | View profile | 51000 | 500 West Monroe Street, Chicago, IL, United States, 60661 | https://www.gehealthcare.com |
Europe precision medicine market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to precision medicine market will help companies and investors design strategic landscapes.
Therapeutics was the largest segment with a revenue share of 81.02% in 2023. Horizon Databook has segmented the Europe precision medicine market based on diagnostics, therapeutics covering the revenue growth of each sub-segment from 2018 to 2030.
The burden of cancer continues to grow globally, exerting substantial pressure on patients, their families, communities, and healthcare systems. In Europe, cancer is the second-leading cause of death and morbidity, with over 3.7 million new cases and 1.9 million deaths each year. However, advancements in therapeutic approaches are bringing us closer to a future where cancer can be cured.
Over the past two decades, understanding of cancer has greatly improved, revealing significant variability not only between different cancer types but also among patients with the same type of cancer. This highlights the need for—and the promise of—tailoring cancer care to individual patient characteristics.
Fueled by this knowledge, cancer treatment is increasingly shifting toward PM, a healthcare approach that systematically uses patient data to inform personalized treatment decisions. The vision for precision medicine in cancer is transformative: to deliver superior outcomes for all cancer patients and ultimately reduce the suffering caused by cancer.
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Target buyers of Europe precision medicine market databook
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Our clientele includes a mix of precision medicine market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe precision medicine market , including forecasts for subscribers. This continent databook contains high-level insights into Europe precision medicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe precision medicine diagnostics therapeutics market size, by country, 2018-2030 (US$M)
Europe Precision Medicine Market Outlook Share, 2023 & 2030 (US$M)
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