Norway Precision Medicine Market Size & Outlook, 2023-2030
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Norway precision medicine market highlights
- The Norway precision medicine market generated a revenue of USD 622.7 million in 2023 and is expected to reach USD 1,313.0 million by 2030.
- The Norway market is expected to grow at a CAGR of 11.2% 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.
Precision medicine market data book summary
| Market revenue in 2023 | USD 622.7 million |
| Market revenue in 2030 | USD 1,313.0 million |
| Growth rate | 11.2% (CAGR from 2024 to 2030) |
| Largest segment | Therapeutics |
| Fastest growing segment | Diagnostics |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Norway accounted for 0.7% of the global precision medicine market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Europe, Germany precision medicine market is projected to lead the regional market in terms of revenue in 2030.
- UK is the fastest growing regional market in Europe and is projected to reach USD 8,968.9 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 |
Norway 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 81.47% in 2023. Horizon Databook has segmented the Norway precision medicine market based on diagnostics, therapeutics covering the revenue growth of each sub-segment from 2018 to 2030.
In December 2021, Illumina, Inc. announced that it would be supporting Norway’s precision medicine study to evaluate blood-based Comprehensive Genomic Profiling (CGP) efficiency in the selection of cancer therapy. The study would also evaluate the cost-effectiveness of blood-based CGP implementation in the healthcare system.
Tissue sampling could be replaced with less invasive CGP testing on blood samples, thus expanding the number of people whose tumors can be profiled and who can then be enrolled in clinical trials for cancer therapy selection. Norway has established a network of drug information centers, Regionale legemiddelinformasjonssentre (RELIS).
This service promotes access to personalized medicine in the country. In October 2020, the government of Norway increased the budget for personalized medicine in its newly released state budget. The budget was increased to a total of USD 5.69 million (NOK 61.3 million). This increased budget is intended to be used to improve molecular diagnostics capabilities in hospitals to increase the adoption of precision medicine.
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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 country-level data and insights on the Norway precision medicine market , including forecasts for subscribers. This country databook contains high-level insights into Norway precision medicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Norway precision medicine diagnostics therapeutics market size, by application, 2018-2030 (US$M)
Norway Precision Medicine Market Outlook Share, 2023 & 2030 (US$M)
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