Personalized Medicine Market Size, Share & Trends Report

Personalized Medicine Market Size, Share & Trends Analysis Report By Product (Personalized Medicine Therapeutics, Personalized Medical Care, Personalized Nutrition & Wellness), By Region, And Segment Forecasts, 2023 - 2030

Report ID: 978-1-68038-443-7
Number of Pages: 125
Format: Electronic (PDF)

Historical Range: 2018 - 2021
Industry: Healthcare

Market Segmentation

Personalized Medicine: Product Outlook (Revenue, USD Billion, 2018 - 2030)
- Personalized Medicine Diagnostics
  - Genetic Testing
  - Direct-To-Consumer (DTC) Diagnostics
  - Esoteric Lab Services
  - Esoteric Lab Tests
- Personalized Medicine Therapeutics
  - Pharmaceutical
  - Genomic Medicine
  - Medical Devices
- Personalized Medical Care
  - Telemedicine
  - Health Information Technology
- Personalized Nutrition & Wellness
  - Retail Nutrition
  - Complementary & Alternative Medicine
Personalized Medicine: Regional Outlook (Revenue, USD Billion, 2018 - 2030)
- North America
  - North America Product Outlook (Revenue, USD Billion, 2018 - 2030)
    - Personalized Medicine Diagnostics
      - Genetic Testing
      - Direct-To-Consumer (DTC) Diagnostics
      - Esoteric Lab Services
      - Esoteric Lab Tests
    - Personalized Medicine Therapeutics
      - Pharmaceutical
      - Genomic Medicine
      - Medical Devices
    - Personalized Medical Care
      - Telemedicine
      - Health Information Technology
    - Personalized Nutrition & Wellness
      - Retail Nutrition
      - Complementary & Alternative Medicine
  - U.S.
    - U.S. Product Outlook (Revenue, USD Billion, 2018 - 2030)
      - Personalized Medicine Diagnostics
        
        Genetic Testing
        
        Direct-To-Consumer (DTC) Diagnostics
        
        Esoteric Lab Services
        
        Esoteric Lab Tests
      - Personalized Medicine Therapeutics
        
        Pharmaceutical
        
        Genomic Medicine
        
        Medical Devices
      - Personalized Medical Care
        
        Telemedicine
        
        Health Information Technology
      - Personalized Nutrition & Wellness
        
        Retail Nutrition
        
        Complementary & Alternative Medicine
  - Canada
    - Canada Product Outlook (Revenue, USD Billion, 2018 - 2030)
      - Personalized Medicine Diagnostics
        
        Genetic Testing
        
        Direct-To-Consumer (DTC) Diagnostics
        
        Esoteric Lab Services
        
        Esoteric Lab Tests
      - Personalized Medicine Therapeutics
        
        Pharmaceutical
        
        Genomic Medicine
        
        Medical Devices
      - Personalized Medical Care
        
        Telemedicine
        
        Health Information Technology
      - Personalized Nutrition & Wellness
        
        Retail Nutrition
        
        Complementary & Alternative Medicine
- Europe
  - Europe Product Outlook (Revenue, USD Billion, 2018 - 2030)
    - Personalized Medicine Diagnostics
      - Genetic Testing
      - Direct-To-Consumer (DTC) Diagnostics
      - Esoteric Lab Services
      - Esoteric Lab Tests
    - Personalized Medicine Therapeutics
      - Pharmaceutical
      - Genomic Medicine
      - Medical Devices
    - Personalized Medical Care
      - Telemedicine
      - Health Information Technology
    - Personalized Nutrition & Wellness
      - Retail Nutrition
      - Complementary & Alternative Medicine
  - UK
    - UK Product Outlook (Revenue, USD Billion, 2018 - 2030)
      - Personalized Medicine Diagnostics
        
        Genetic Testing
        
        Direct-To-Consumer (DTC) Diagnostics
        
        Esoteric Lab Services
        
        Esoteric Lab Tests
      - Personalized Medicine Therapeutics
        
        Pharmaceutical
        
        Genomic Medicine
        
        Medical Devices
      - Personalized Medical Care
        
        Telemedicine
        
        Health Information Technology
      - Personalized Nutrition & Wellness
        
        Retail Nutrition
        
        Complementary & Alternative Medicine
  - Germany
    - Germany Product Outlook (Revenue, USD Billion, 2018 - 2030)
      - Personalized Medicine Diagnostics
        
        Genetic Testing
        
        Direct-To-Consumer (DTC) Diagnostics
        
        Esoteric Lab Services
        
        Esoteric Lab Tests
      - Personalized Medicine Therapeutics
        
        Pharmaceutical
        
        Genomic Medicine
        
        Medical Devices
      - Personalized Medical Care
        
        Telemedicine
        
        Health Information Technology
      - Personalized Nutrition & Wellness
        
        Retail Nutrition
        
        Complementary & Alternative Medicine
  - France
    - France Product Outlook (Revenue, USD Billion, 2018 - 2030)
  - Italy
    - Italy Product Outlook (Revenue, USD Billion, 2018 - 2030)
  - Spain
  - Denmark
    - Denmark Product Outlook (Revenue, USD Billion, 2018 - 2030)
      - Personalized Medicine Diagnostics
        
        Genetic Testing
        
        Direct-To-Consumer (DTC) Diagnostics
        
        Esoteric Lab Services
        
        Esoteric Lab Tests
      - Personalized Medicine Therapeutics
        
        Pharmaceutical
        
        Genomic Medicine
        
        Medical Devices
      - Personalized Medical Care
        
        Telemedicine
        
        Health Information Technology
      - Personalized Nutrition & Wellness
        
        Retail Nutrition
        
        Complementary & Alternative Medicine
  - Sweden
    - Sweden Product Outlook (Revenue, USD Billion, 2018 - 2030)
      - Personalized Medicine Diagnostics
        
        Genetic Testing
        
        Direct-To-Consumer (DTC) Diagnostics
        
        Esoteric Lab Services
        
        Esoteric Lab Tests
      - Personalized Medicine Therapeutics
        
        Pharmaceutical
        
        Genomic Medicine
        
        Medical Devices
      - Personalized Medical Care
        
        Telemedicine
        
        Health Information Technology
      - Personalized Nutrition & Wellness
        
        Retail Nutrition
        
        Complementary & Alternative Medicine
  - Norway
    - Norway Product Outlook (Revenue, USD Billion, 2018 - 2030)
      - Personalized Medicine Diagnostics
        
        Genetic Testing
        
        Direct-To-Consumer (DTC) Diagnostics
        
        Esoteric Lab Services
        
        Esoteric Lab Tests
      - Personalized Medicine Therapeutics
        
        Pharmaceutical
        
        Genomic Medicine
        
        Medical Devices
      - Personalized Medical Care
        
        Telemedicine
        
        Health Information Technology
      - Personalized Nutrition & Wellness
        
        Retail Nutrition
        
        Complementary & Alternative Medicine
- Asia Pacific
  - Asia Pacific Product Outlook (Revenue, USD Billion, 2018 - 2030)
    - Personalized Medicine Diagnostics
      - Genetic Testing
      - Direct-To-Consumer (DTC) Diagnostics
      - Esoteric Lab Services
      - Esoteric Lab Tests
    - Personalized Medicine Therapeutics
      - Pharmaceutical
      - Genomic Medicine
      - Medical Devices
    - Personalized Medical Care
      - Telemedicine
      - Health Information Technology
    - Personalized Nutrition & Wellness
      - Retail Nutrition
      - Complementary & Alternative Medicine
  - Japan
    - Japan Product Outlook (Revenue, USD Billion, 2018 - 2030)
      - Personalized Medicine Diagnostics
        
        Genetic Testing
        
        Direct-To-Consumer (DTC) Diagnostics
        
        Esoteric Lab Services
        
        Esoteric Lab Tests
      - Personalized Medicine Therapeutics
        
        Pharmaceutical
        
        Genomic Medicine
        
        Medical Devices
      - Personalized Medical Care
        
        Telemedicine
        
        Health Information Technology
      - Personalized Nutrition & Wellness
        
        Retail Nutrition
        
        Complementary & Alternative Medicine
  - China
    - China Product Outlook (Revenue, USD Billion, 2018 - 2030)
      - Personalized Medicine Diagnostics
        
        Genetic Testing
        
        Direct-To-Consumer (DTC) Diagnostics
        
        Esoteric Lab Services
        
        Esoteric Lab Tests
      - Personalized Medicine Therapeutics
        
        Pharmaceutical
        
        Genomic Medicine
        
        Medical Devices
      - Personalized Medical Care
        
        Telemedicine
        
        Health Information Technology
      - Personalized Nutrition & Wellness
        
        Retail Nutrition
        
        Complementary & Alternative Medicine
  - India
    - India Product Outlook (Revenue, USD Billion, 2018 - 2030)
      - Personalized Medicine Diagnostics
        
        Genetic Testing
        
        Direct-To-Consumer (DTC) Diagnostics
        
        Esoteric Lab Services
        
        Esoteric Lab Tests
      - Personalized Medicine Therapeutics
        
        Pharmaceutical
        
        Genomic Medicine
        
        Medical Devices
      - Personalized Medical Care
        
        Telemedicine
        
        Health Information Technology
      - Personalized Nutrition & Wellness
        
        Retail Nutrition
        
        Complementary & Alternative Medicine
  - Australia
    - Australia Product Outlook (Revenue, USD Billion, 2018 - 2030)
      - Personalized Medicine Diagnostics
        
        Genetic Testing
        
        Direct-To-Consumer (DTC) Diagnostics
        
        Esoteric Lab Services
        
        Esoteric Lab Tests
      - Personalized Medicine Therapeutics
        
        Pharmaceutical
        
        Genomic Medicine
        
        Medical Devices
      - Personalized Medical Care
        
        Telemedicine
        
        Health Information Technology
      - Personalized Nutrition & Wellness
        
        Retail Nutrition
        
        Complementary & Alternative Medicine
- Latin America
  - Latin America Product Outlook (Revenue, USD Billion, 2018 - 2030)
    - Personalized Medicine Diagnostics
      - Genetic Testing
      - Direct-To-Consumer (DTC) Diagnostics
      - Esoteric Lab Services
      - Esoteric Lab Tests
    - Personalized Medicine Therapeutics
      - Pharmaceutical
      - Genomic Medicine
      - Medical Devices
    - Personalized Medical Care
      - Telemedicine
      - Health Information Technology
    - Personalized Nutrition & Wellness
      - Retail Nutrition
      - Complementary & Alternative Medicine
  - Brazil
    - Brazil Product Outlook (Revenue, USD Billion, 2018 - 2030)
      - Personalized Medicine Diagnostics
        
        Genetic Testing
        
        Direct-To-Consumer (DTC) Diagnostics
        
        Esoteric Lab Services
        
        Esoteric Lab Tests
      - Personalized Medicine Therapeutics
        
        Pharmaceutical
        
        Genomic Medicine
        
        Medical Devices
      - Personalized Medical Care
        
        Telemedicine
        
        Health Information Technology
      - Personalized Nutrition & Wellness
        
        Retail Nutrition
        
        Complementary & Alternative Medicine
  - Mexico
    - Mexico Product Outlook (Revenue, USD Billion, 2018 - 2030)
      - Personalized Medicine Diagnostics
        
        Genetic Testing
        
        Direct-To-Consumer (DTC) Diagnostics
        
        Esoteric Lab Services
        
        Esoteric Lab Tests
      - Personalized Medicine Therapeutics
        
        Pharmaceutical
        
        Genomic Medicine
        
        Medical Devices
      - Personalized Medical Care
        
        Telemedicine
        
        Health Information Technology
      - Personalized Nutrition & Wellness
        
        Retail Nutrition
        
        Complementary & Alternative Medicine
  - Argentina
    - Argentina Product Outlook (Revenue, USD Billion, 2018 - 2030)
      - Personalized Medicine Diagnostics
        
        Genetic Testing
        
        Direct-To-Consumer (DTC) Diagnostics
        
        Esoteric Lab Services
        
        Esoteric Lab Tests
      - Personalized Medicine Therapeutics
        
        Pharmaceutical
        
        Genomic Medicine
        
        Medical Devices
      - Personalized Medical Care
        
        Telemedicine
        
        Health Information Technology
      - Personalized Nutrition & Wellness
        
        Retail Nutrition
        
        Complementary & Alternative Medicine
- Middle East & Africa
  - Middle East & Africa Product Outlook (Revenue, USD Billion, 2018 - 2030)
    - Personalized Medicine Diagnostics
      - Genetic Testing
      - Direct-To-Consumer (DTC) Diagnostics
      - Esoteric Lab Services
      - Esoteric Lab Tests
    - Personalized Medicine Therapeutics
      - Pharmaceutical
      - Genomic Medicine
      - Medical Devices
    - Personalized Medical Care
      - Telemedicine
      - Health Information Technology
    - Personalized Nutrition & Wellness
      - Retail Nutrition
      - Complementary & Alternative Medicine
  - South Africa
    - South Africa Product Outlook (Revenue, USD Billion, 2018 - 2030)
      - Personalized Medicine Diagnostics
        
        Genetic Testing
        
        Direct-To-Consumer (DTC) Diagnostics
        
        Esoteric Lab Services
        
        Esoteric Lab Tests
      - Personalized Medicine Therapeutics
        
        Pharmaceutical
        
        Genomic Medicine
        
        Medical Devices
      - Personalized Medical Care
        
        Telemedicine
        
        Health Information Technology
      - Personalized Nutrition & Wellness
        
        Retail Nutrition
        
        Complementary & Alternative Medicine
  - Saudi Arabia
    - Saudi Arabia Product Outlook (Revenue, USD Billion, 2018 - 2030)
      - Personalized Medicine Diagnostics
        
        Genetic Testing
        
        Direct-To-Consumer (DTC) Diagnostics
        
        Esoteric Lab Services
        
        Esoteric Lab Tests
      - Personalized Medicine Therapeutics
        
        Pharmaceutical
        
        Genomic Medicine
        
        Medical Devices
      - Personalized Medical Care
        
        Telemedicine
        
        Health Information Technology
      - Personalized Nutrition & Wellness
        
        Retail Nutrition
        
        Complementary & Alternative Medicine
  - UAE
    - UAE Product Outlook (Revenue, USD Billion, 2018 - 2030)
      - Personalized Medicine Diagnostics
        
        Genetic Testing
        
        Direct-To-Consumer (DTC) Diagnostics
        
        Esoteric Lab Services
        
        Esoteric Lab Tests
      - Personalized Medicine Therapeutics
        
        Pharmaceutical
        
        Genomic Medicine
        
        Medical Devices
      - Personalized Medical Care
        
        Telemedicine
        
        Health Information Technology
      - Personalized Nutrition & Wellness
        
        Retail Nutrition
        
        Complementary & Alternative Medicine
  - Kuwait
    - Kuwait Product Outlook (Revenue, USD Billion, 2018 - 2030)
      - Personalized Medicine Diagnostics
        
        Genetic Testing
        
        Direct-To-Consumer (DTC) Diagnostics
        
        Esoteric Lab Services
        
        Esoteric Lab Tests
      - Personalized Medicine Therapeutics
        
        Pharmaceutical
        
        Genomic Medicine
        
        Medical Devices
      - Personalized Medical Care
        
        Telemedicine
        
        Health Information Technology
      - Personalized Nutrition & Wellness
        
        Retail Nutrition
        
        Complementary & Alternative Medicine

Personalized Medicine Market Dynamics

Drivers: Advancements In Next-Generation Sequencing Technology

One of the most important factors expected to have a significant impact on the market is how much and to what extent the growth of Next-Generation Sequencing (NGS) will affect the adoption of personalized medicine in the coming seven years. The exponentially decreasing cost of sequencing whole genomes and technological advancements in NGS in a way align with Moore’s law for semiconductors in the field of life sciences. For instance, as per the Medical Device Network article published in 2023, sequencing costs have significantly decreased over time as a result of increased competition and advancements in technology. In addition, leading NGS platform players, such as Illumina and Life Technologies, have stated that the cost of sequencing a whole genome using their technology is currently less than USD 1,000. Thus, due to this reduction in prices, the demand for NGS is expected to grow in clinical diagnostics. Several oncologists believe that in the coming seven years, NGS combined with companion diagnostics can be expected to play a major role in personalized diagnostics and therapeutics. Owing to the development of a regulatory framework for the safety & efficacy of NGSbased lab tests and increasing clinical investigation data on disease heterogeneity, the demand for next-generation sequencing is expected to grow, which is anticipated to serve as a high-impact rendering driver of personalized medicine market over the forecast period

Expanding Portfolio Of Companion/Associated Diagnostics

Companion diagnostics are tests or assays that are specifically designed to identify biomarkers for patient stratification, ensuring that the right patients receive the right therapies at the right time. Many companies are embracing this approach to tailor treatments based on individual patient characteristics, optimizing therapeutic outcomes while minimizing potential adverse effects. Due to the successful launch of companion diagnostics, usage & penetration rates of personalized diagnostics and drugs will greatly depend on the level of adoption of their respective companion. diagnostic tests. In the coming seven years, more than 150 companion diagnostic on-label combinations and a wide array of personalized medicines are expected to be under clinical trials. The adoption of companion diagnostics is expected to increase even further post-FDA approval of novel tests. The expected increase in accuracy of testing and development of their analysis systems are likely to positively impact the market for companion diagnostics as well as personalized therapeutics and diagnostics over the forecast period.

Restraints: Presence Of Nonvalue-Based Personalized Medicine Diagnostics Reimbursement Policy

Several reimbursement structures provided by payors do not take the value provided by personalized medical tests and only incorporate the “cost-plus” approach, thus, there is a lack of complete potential reimbursement for personalized medicine tests in the market. This may hinder market growth as it negatively affects usage and adoption. However, the expected revision of regulatory and reimbursement policy with growing advancements in personalized medical products is expected to reduce the impact of this restraint over the forecast period. Moreover, the lack of consistent reimbursement policies limits incentives for innovation, potentially leading to a slowdown in the development of advanced personalized diagnostics. This uncertainty not only complicates regulatory compliance and adds administrative burdens but also contributes to unequal access to personalized medicine, fostering disparities among patients based on diagnosis and geographic location. The resulting complex landscape poses challenges for market players, potentially stalling the broader adoption of personalized medicine into routine clinical care. Thus, addressing these challenges in reimbursement policies is crucial for creating an environment that fosters innovation, encourages market growth, and ensures equitable access to the transformative potential of personalized medicine in enhancing patient outcomes.

What Does This Report Include?

This section will provide insights into the contents included in this personalized medicine market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Personalized medicine market qualitative analysis

Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
- Company overview
- Financial performance
- Product benchmarking
- Latest strategic developments

Personalized medicine market quantitative analysis

Market size, estimates, and forecast from 2018 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance

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