GVR Report cover Personalized Medicine Market Size, Share & Trends Report

Personalized Medicine Market Size, Share & Trends Analysis Report By Product (Personalized Nutrition & Wellness, Personalized Medicine Therapeutics), By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: 978-1-68038-443-7
  • Number of Pages: 120
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2020
  • Industry: Healthcare

Report Overview

The global personalized medicine market size was valued at USD 514.33 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.95% from 2022 to 2030. The growth of the market is attributed to factors such as the growing demand for novel drug discovery to combat the growing incidence of cancers and other diseases across the globe. Moreover, numerous collaborations among researchers and market players are anticipated to have a positive impact on market growth. For instance, in February 2022, Genomic Medicine Sweden (GMS) and the Centers for Personalized Medicine (ZPM) in Germany collaborated for strategic, structural, and content-specific efforts to implement precision medicine in healthcare.

U.S. personalized medicine market size, by product, 2020 - 2030 (USD Billion)

The COVID-19 pandemic outbreak hindered the continuance of research for novel drug discovery. However, technology-oriented outcomes in the market such as telemedicine came into persistence after the incidence of pandemic situation. Many clinical consultations are facilitated online to increase subject convenience and avoid the spread of contagious infections. Moreover, the COVID-19 pandemic has propelled the demand for personalized medicine in gauging an individual’s immunity to combat COVID-19 infection. For instance, a research study published in Elsevier in 2020 has indicated that COVID-19 infections are linked with gene variants on chromosomes and loss of variants present on the X-chromosome.

The increasing prevalence of rare diseases is also anticipated to boost the growth of the market. The increasing level of understanding and correlation of characteristics of the human genome has paved the way for efforts on devising various personalized medicine and therapeutic exercises. For instance, in September 2022, a research study carried out at the University of California at Irvine proposed a novel technique for the management of inherited retinal diseases (IRDs) by using precision genome editing that is very specific to an individual’s requirements.

Personalized medicine is also increasingly used for applications in companion diagnostics that are precisely designed for the determination of the viability of subjects to a specific treatment and to gauge the subject’s response to a therapeutic regime. Companion diagnostics play an essential role in devising efficient precision medicine considering the micro environment, patient’s genome characteristics, ethnicity, and lifestyle choices. There are an increasing number of FDA approvals for companion diagnostics due to the rising demand. For instance, in October 2020, Roche achieved U.S. FDA approval for the expansion of the Cobas EGFR Mutation Test to be used for the treatment of non-small cell lung cancer.

The market players are extensively working towards collaborations and acquisitions along with huge capital investments to devise the best-personalized medicine strategy that could possibly cure a disease. For instance, in July 2022, Certara declared a collaboration with Memorial Sloan Kettering Cancer Center (MSKCC) for the development of a novel biosimulation software for leveraged CAR T-cell therapy dosing for subjects with multiple myeloma.

Product Insights

Personalized nutrition and wellness held the largest share of over 55.0% in 2021. The growth in the segment is due to the extensive consumption rate and market penetration. Further, the high rate of over-the-counter (OTC) sales of nutrition products boosts the demand due to lowered regulatory implications. For instance, in March 2022, the American Heart Association features that nutrition scientists are working towards precision nutrition to combat cardiovascular diseases based on the unique responses for specific foods and nutrients.

Global personalized medicine market share, by product, 2021 (%)

The personalized medicine therapeutics segment is expected to witness the highest growth over the forecast period. The rise in demand for genomics based therapeutics and biopharmaceuticals based on specifically sequenced data is primarily contributing to the growth of the segment. Moreover, the emergence of high-end sequencing to effectively reduce the cost of genome sequencing nurtures the growth of the market.

Regional Insights

North America accounted for the largest share of over 45.0% in 2021. This is attributed to the support from research institutes and pharmaceutical giants. Personalized medicine is now preferred for all kinds of diseases and therefore is part of research on any given disease and drug discovery. There are emerging advancements in personalized medicine for diagnostics in the region. For instance, in January 2021, Illumina, Inc. develops the TruSight Oncology 500 (TSO 500) assay that uses nucleic acids from tumor cells and capably identifies as many as 523 cancer biomarkers.

Personalized Medicine Market Trends by Region

Asia Pacific is estimated to be the fastest-growing segment over the forecast period due to increased demand for personalized medicine in diagnostics and the growing demand for novel therapeutic drugs to fight increased incidence of diseases in the region.

Key Companies & Market Share Insights

Key players operating in the market are focused on strategic collaborations, new product launches, and geographical expansions in emerging and favorable regions across the globe. For instance, in January 2022, Panaceutics Nutrition and Viocare declared a collaborative agreement to produce personalized nutrition for healthcare providers and their subjects using a high-end technology interface by integrating Viocare’s nutrition assessment software with personalized nutrition supplementation for making an end-to-end service platform. Some prominent players in the global personalized medicine market include:

  • GE Healthcare

  • Illumina, Inc.


  • Abbott

  • Dako A/S

  • Exact Sciences Corporation

  • Danaher Corporation (Cepheid, Inc.)

  • Decode Genetics, Inc.


  • Exagen Inc.

  • Precision Biologics

  • Celera Diagnostics LLC

  • Biogen

  • Genelex

  • International Business Machines Corporation (IBM)

  • Genentech, Inc.

  • 23andMe, Inc.

Personalized Medicine Market Report Scope

Report Attribute


Market size value in 2022

USD 538.93 billion

Revenue forecast in 2030

USD 922.72 billion

Growth rate

CAGR of 6.95% from 2022 to 2030

Base year for estimation


Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD billion and CAGR from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; Germany; U.K.; France; Italy; Spain; China; Japan; India; Australia; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE

Key companies profiled

GE Healthcare; Illumina, Inc.; ASURAGEN, INC.; Abbott; Dako A/S; Exact Sciences Corporation; Danaher Corporation (Cepheid, Inc.); Decode Genetics, Inc.; QIAGEN; Exagen Inc.; Precision Biologics; Celera Diagnostics LLC; Biogen; Genelex; IBM; Genentech, Inc.; 23andMe, Inc.

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Global Personalized Medicine Market Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global personalized medicine market report on the basis of product and region:

Global Personalized Medicine Market Segmentation

  • 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

  • Regional Outlook (Revenue, USD Billion, 2018 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Spain

      • Italy

    • Asia Pacific

      • Japan

      • China

      • India

      • South Korea

      • Australia

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

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