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

Personalized Medicine Market Size, Share & Trends Analysis Report By Product (Personalized Medicine Diagnostics, Personalized Medicine Therapeutics), By End-use, By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: 978-1-68038-443-7
  • Number of Report Pages: 180
  • Format: PDF, Horizon Databook
  • Historical Range: 2018 - 2023
  • Forecast Period: 2024 - 2030 
  • Industry: Healthcare

Personalized Medicine Market Size & Trends

The global personalized medicine market was valued at USD 529.28 billion in 2023 and is projected to grow at a CAGR of 8.20% from 2024 to 2030. The personalized medicine market is driven majorly by the growing demand for novel drug discovery to combat the rising incidence of cancers and other diseases across the globe. Moreover, numerous collaborations among researchers and market players are also anticipated to have a positive impact on the personalized medicine market growth.

Global Personalized Medicine Market size and growth rate, 2024 - 2030

For instance, in February 2023, Roche extended its partnership with Janssen Biotech Inc., intensifying efforts in the development of companion diagnostics for targeted therapies. This expanded collaboration encompasses various precision technologies, such as immunohistochemistry, digital pathology, next-generation sequencing, polymerase chain reaction, and immunoassays, fostering advancements in research and innovation.

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(PM) in the coming seven years. The exponentially decreasing cost of sequencing whole genomes and technological advancements in NGS in a way 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.

The increasing prevalence of rare diseases is also anticipated to boost the demand for growth of the market. The increasing level of understanding and correlation of characteristics of the human genome paved the way for efforts in devising various precision 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.

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. For instance, in November 2023, Foundation Medicine announced a partnership with Pierre Fabre Laboratories aimed at advancing the development of FoundationOneCDx and FoundationOneLiquidCDx, which are high-quality genomic tests. The goal is to establish these tests as companion diagnostics for novel targeted therapies designed to treat individuals diagnosed with Non-Small Cell Lung Cancer (NSCLC).

Personalized medicine is poised to reshape the healthcare landscape in the coming years, fueled by four prominent trends. This evolution is driven by decision support techniques utilizing the potential of the human genome, the integration of big data analytics and machine learning in healthcare practices, reimbursement strategies promoting preventative care within health systems, and the introduction of advanced tools facilitating increased data accessibility and interoperability. For instance, in June 2023, Dartmouth inaugurated its Center for Precision Health and Artificial Intelligence (CPHAI) propelled by an initial USD 2 million funding. CPHAI is dedicated to advancing interdisciplinary research exploring the application of artificial intelligence and biomedical data in enhancing personalized medicine and health outcomes. Emphasizing the importance of maintaining ethical standards in health AI, the center aims to leverage AI's transformative potential in addressing real-world clinical challenges, improving patient outcomes, and ensuring equitable healthcare access.

Market Concentration & Characteristics

The market growth stage is medium, and the pace is accelerating. The personalized medicine market is booming, fueled by groundbreaking innovations. Advanced technologies like genomics, proteomics, and artificial intelligence drive tailored therapies, diagnostics, and preventive measures. This dynamic landscape offers immense opportunities for professionals and investors, shaping the future of healthcare through unprecedented levels of precision and effectiveness.

Personalized Medicine Market Concentration & Characteristics

The market is witnessing heightened merger and acquisition (M&A) activity, reflecting a strategic shift within the industry. Major players, such as pharmaceutical giants acquiring biotech startups or diagnostic companies, aim to strengthen their portfolios in genomics and targeted therapies. An illustrative example is Roche's acquisition of Foundation Medicine, enhancing its position in precision oncology through comprehensive genomic profiling and personalized cancer care.

Regulatory frameworks significantly influence the market, ensuring patient safety and product efficacy. Striking a balance between innovation and oversight, regulations shape the industry's growth. For instance, the FDA's approval of genetic tests and targeted therapies demonstrates a proactive approach, fostering advancements while maintaining stringent standards. Robust regulatory measures inspire confidence, attracting investments and facilitating the responsible expansion of personalized medicine.

In the market, product expansion is considered one of the major market characteristics. Product launches continually redefine patient care. GE Healthcare launched CardioVisio for Atrial Fibrillation (AFib), a digital tool to help physicians visualize longitudinal data from various data sources, which is important to support evidence-based clinical decision-making guided by the most recent AFib guidelines. The new technology was exhibited from August 25-28, 2023, at the European Society of Cardiology (ESC) Congress in Amsterdam, Netherlands. Such launches signify ongoing advancements, expanding the frontier of precision medicine and enhancing individualized healthcare solutions.

The regional expansion strategies are vital for companies seeking broader influence in this market. By tailoring their approaches to diverse healthcare landscapes, companies can penetrate new markets, connect with a larger customer base, and amplify sales and revenue. Such strategies facilitate the global dissemination of personalized healthcare solutions, driving industry growth.

Product Insights

Personalized nutrition & wellness recorded a dominant revenue share of 32.57% in 2023. The growth of 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 November 2023, Viome Life Sciences announced the acquisition of Naring Health, which includes gaining ownership of DiscernDX. The latter is recognized for enabling regular health monitoring, early disease detection, and personalized care. This strategic move positions Viome to augment its personalized health solutions, providing more accurate food and supplement recommendations. The acquisition marks a significant step in ushering in a new era of personalized nutrition, offering customers comprehensive insights into their body's status and personalized nutrition strategies to address issues at their root cause. 

The personalized medicine therapeutics segment is projected to record the fastest CAGR from 2024 to 2030. Next-generation sequencing technology plays a major role in PM therapeutics. Due to the development of high-capacity rapid sequencing platforms, the cost of sequencing the whole human genome is expected to reduce significantly. Consequentially, this will translate into high market adoption and usage rates for precision medical therapies.

End-use Insights

Hospital end-use segment led the market with a dominant revenue share in 2023. Hospitals play a pivotal role in the personalized medicine market, both as end-users and influencers. The increasing integration of genomic diagnostics and targeted therapies within hospital settings is a notable trend. This reflects a shift towards personalized medicine, where hospitals leverage genetic insights to tailor treatments for patients.

Global Personalized Medicine Market share and size, 2023

The demand for personalized medicine within hospitals is a significant market driver, prompting advancements in diagnostic tools and therapeutic approaches. As hospitals embrace genomics, they contribute to the market's growth by fostering innovation, improving patient outcomes, and positioning themselves at the forefront of transformative healthcare practices, ultimately shaping the future of personalized medicine.

Regional Insights

North America personalized medicine market accounted for the largest share of 40.37% in 2023. This is attributed to the support of 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 precision diagnostics in the region. For instance, in January 2021, Illumina, Inc. developed the TruSight Oncology 500 (TSO 500) assay that uses nucleic acids from tumor regions and capably identifies as many as 523 cancer biomarkers.

Personalized Medicine Market Trends, by Region, 2024 - 2030

U.S. Personalized Medicine Market Trends

The U.S. personalized medicine market is expected to grow from 2024 to 2030 attributed to the presence of key players such as GE Healthcare; Illumina, Inc.; ASURAGEN, Inc.; Danaher; Abbott Laboratories, and 23andMe, Inc. Key companies are increasingly entering into partnerships, collaborations, and agreements to enhance access to personalized medicine.

Europe Personalised Medicine Market Trends

Europe personalized medicine market is expected to grow at a significant CAGR from 2024 to 2030. Furthermore, current levels of development in Germany, the UK, and France are expected to provide lucrative opportunities for market growth over the forecast period.

The personalized medicine market in the UK is expected to grow along with the overall Europe market owing to the growing development of companion diagnostics (CDxs) and the subsequent establishment of molecular diagnostics by the prominent market participants.

The France personalized medicine market is expected to grow at a notable CAGR from 2024 to 2030 due to various funding initiatives undertaken by public & private organizations focusing on developing and commercializing novel precision diagnostic & therapeutic solutions. Human Precision MEDicine (Hu-PreciMED) project was launched by Intersystems & Oncodesign and is aimed at structuring the precision medicine industry in France. It includes over 45 medical and digital companies.

The personalized medicine market in Germany is expected to grow at a lucrative CAGR from 2024 to 2030 owing to the ongoing developments in the advancement of personalized medicine in Germany by public and private organizations, such as EuroBioForum, the German Center for Infection Research, and the Personalized Medicine Coalition (PMC).

Asia Pacific Personalized Medicine Market Trends

Asia Pacific personalized medicine market is projected to grow at the fastest CAGR from 2024 to 2030. Developing healthcare infrastructure and rising healthcare expenditure in emerging economies contribute to the accelerated growth of the regional market.Various key players are entering Asia Pacific, which is expected to positively impact the growth of the market. For instance, in June 2022, MGI collaborated with MiRXES to expand the region's access to advanced spatial multiomics research capabilities. This agreement is expected to expand the reach of the companies.

The personalized medicine market in China is growing lucratively attributed to government support and involvement in cross-border international collaborations for preventive & personalized medicine.Expected developments in Chinese insurance policies and the growing adoption of Western medicine are also expected to contribute to the market growth.

The Japan personalized medicine market is expected to grow at a notable CAGR from 2024 to 2030. This share is due to the outcome of an active expansion strategy under execution by several market participants to strengthen their position in the Asia Pacific region. For instance, in October 2023, NTT Corporation (Japan) entered into an agreement with BC Platforms AG, PRIME-R, and Bioxcellerator to develop the Japan Precision Medicine Platform (JPP).

Latin America Personalized Medicine Market Trends

Latin America personalized medicine market is primarily driven by continuous advancements in cancer treatments, such as the expansion of less-toxic targeted therapies, improve patients' quality of life. Several events and conferences in Latin America to raise awareness about personalized and advanced therapies also drive the market.

The personalized medicine market in Brazil is expected to grow from 2024 to 2030 owing to increasing number of industrial developments such as expansion policies, mergers & acquisitions, and joint ventures.

MEA Personalized Medicien Market Trends

MEA personalized medicine market was identified as a lucrative region in this industry with the emergence of various national genome projects in the UAE, Saudi Arabia, Kuwait, and Qatar. The Saudi Human Genome Program (SHGP), the UAE Human Genome Project, the Qatar Genome Programme (QGP), and the Kuwait Genome Project are among the few genomic projects.

The personalized medicine market in Saudi Arabia is expected to grow from 2024 to 2030 attributed to the increasing awareness and prevalence of infectious diseases, including HIV, and other conditions requiring blood diagnostics.

Key Personalized Medicine Company Insights

Some key players operating in the market include Abbott; GE Healthcare., Inc.; Illumina, Inc., and Danaher Corporation. Established players focus majorly on innovation & technology advancements to develop cutting-edge diagnostic solutions and partner with emerging players to leverage their technology. Mature players also have a strong global presence with a diverse portfolio of genetic testing products and a well-established brand reputation which gives them a competitive edge.

Emerging players however focus on launching products in limited countries and then expanding regionally. Some operating strategies also include strategic partnerships, acquisitions, or collaborations to enhance their capabilities and market presence. Additionally, these players may be more flexible and agile than established players in terms of responding and changing to market needs and demand, allowing them to quickly adapt and develop new technologies.

Key Personalized Medicine Companies:

The following are the leading companies in the personalized medicine market. These companies collectively hold the largest market share and dictate industry trends.

  • 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
  • International Business Machines Corporation (IBM)
  • Genentech, Inc.
  • 23andMe, Inc.

Recent Developments

  • In September 2023, A Memorandum of Understanding (MOU) was signed by Agilent Technologies & Advanced Cell Therapy and Research Institute, Singapore (ACTRIS) to advance in gene and cell therapy over the next 3 years.

  • In July 2023, As a part of Illumina's oncology product portfolio, Pillar Biosciences and Illumina formed a strategic partnership to commercialize Pillar's suite of oncology assays worldwide. Completing the agreement will lead to an unparalleled offering of additional Next-Generation Sequencing (NGS) solutions, improving patient access to personalized cancer treatment solutions.

  • In June 2023, GE Healthcare and DePuy Synthes signed a distribution agreement to expand the reach of OEC 3D Imaging System and product offerings of DePuy Synthes to more surgeons & patients in the U.S.

  • In June 2023, Exact Sciences Corp. collaborated independently with two distinguished healthcare institutions at the forefront of cancer research. The agreements seek to increase access to genomic information in order to enhance patient care.

Personalized Medicine Market Report Scope

Report Attribute

Details

Market size value in 2024

USD 567.10 billion

Revenue forecast in 2030

USD 909.80 billion

Growth Rate

CAGR of 8.20% from 2024 to 2030

Actual years

2018 - 2023

Forecast years

2024 - 2030

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2030

Report coverage

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

Segments covered

Product, end-use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; Germany; UK; France; Italy; Spain; Denmark; Sweden; Norway; China; Japan; India; Australia; Thailand; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Kuwait

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 Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest industry trends 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 based on the product, end-use and region:

Global Personalized Medicine Market Report 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

  • End-use Outlook (Revenue, USD Billion, 2018 - 2030)

    • Hospitals

    • Diagnostic Centers

    • Research & Academic Institutes

    • Others

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

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • UK

      • France

      • Italy

      • Spain

      • Denmark

      • Sweden

      • Norway

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

      • Thailand

      • Australia

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

      • Kuwait

Frequently Asked Questions About This Report

Table of Contents

Chapter 1. Methodology and Scope
                      1.1. Market Segmentation & Scope
                      1.2. Segment Definitions
                          1.2.1. Product
                          1.2.2. End-use
                          1.2.3. Regional scope
                          1.2.4. Estimates and forecasts timeline
                      1.3. Research Methodology
                      1.4. Information Procurement
                          1.4.1. Purchased database
                          1.4.2. GVR’s internal database
                          1.4.3. Secondary sources
                          1.4.4. Primary research
                          1.4.5. Details of primary research
                              1.4.5.1. Data for primary interviews in North America
                              1.4.5.2. Data for primary interviews in Europe
                              1.4.5.3. Data for primary interviews in Asia Pacific
                              1.4.5.4. Data for primary interviews in Latin America
                              1.4.5.5. Data for Primary interviews in MEA
                      1.5. Information or Data Analysis
                          1.5.1. Data analysis models
                      1.6. Market Formulation & Validation
                      1.7. Model Details
                          1.7.1. Commodity flow analysis (Model 1)
                          1.7.2. Approach 1: Commodity flow approach
                          1.7.3. Volume price analysis (Model 2)
                          1.7.4. Approach 2: Volume price analysis
                      1.8. List of Secondary Sources
                      1.9. List of Primary Sources
                      1.10. Objectives
Chapter 2. Executive Summary
                      2.1. Market Outlook
                      2.2. Segment Outlook
                          2.2.1. Product outlook
                          2.2.2. End-use outlook
                          2.2.3. Regional outlook
                      2.3. Competitive Insights
Chapter 3. Personalized Medicine Market Variables, Trends & Scope
                      3.1. Market Lineage Outlook
                          3.1.1. Parent market outlook
                          3.1.2. Related/ancillary market outlook
                      3.2. Market Dynamics
                          3.2.1. Market driver analysis
                              3.2.1.1. Advancements in next-generation sequencing technology
                              3.2.1.2. Expanding portfolio of companion/associated diagnostics
                              3.2.1.3. Increasing prevalence of cancer & usage of biomarkers for personalized medicine cancer therapy
                              3.2.1.4. Technological advancements to facilitate R&D for personalized medicine
                          3.2.2. Market restraint analysis
                              3.2.2.1. Presence of nonvalue-based personalized medicine diagnostics reimbursement policy
                              3.2.2.2. Lack of proper intellectual property regulations for personalized medical technologies
                      3.3. Personalized Medicine Market Analysis Tools
                          3.3.1. Industry Analysis - Porter’s
                              3.3.1.1. Supplier power
                              3.3.1.2. Buyer power
                              3.3.1.3. Substitution threat
                              3.3.1.4. Threat of new entrant
                              3.3.1.5. Competitive rivalry
                          3.3.2. PESTEL Analysis
                              3.3.2.1. Political landscape
                              3.3.2.2. Technological landscape
                              3.3.2.3. Economic landscape
Chapter 4. Personalized Medicine Market: Product Estimates & Trend Analysis
                      4.1. Product Market Share, 2023 & 2030
                      4.2. Segment Dashboard
                      4.3. Global Personalized Medicine Market by Product Outlook
                      4.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
                          4.4.1. Personalized Medicine Diagnostics
                              4.4.1.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
                              4.4.1.2. Genetic Testing
                                  4.4.1.2.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
                              4.4.1.3. DTC Diagnostics
                                  4.4.1.3.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
                              4.4.1.4. Esoteric Lab Services
                                  4.4.1.4.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
                              4.4.1.5. Esoteric Lab Tests
                                  4.4.1.5.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
                          4.4.2. Personalized Medicine Therapeutics
                              4.4.2.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
                              4.4.2.2. Pharmaceutical
                                  4.4.2.2.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
                              4.4.2.3. Genomic Medicine
                                  4.4.2.3.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
                              4.4.2.4. Medical Devices
                                  4.4.2.4.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
                          4.4.3. Personalized Medical Care
                              4.4.3.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
                              4.4.3.2. Telemedicine
                                  4.4.3.2.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
                              4.4.3.3. Health Information Technology
                                  4.4.3.3.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
                          4.4.4. Personalized Nutrition & Wellness
                              4.4.4.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
                              4.4.4.2. Retail Nutrition
                                  4.4.4.2.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
                              4.4.4.3. Complementary & Alternative Medicine
                                  4.4.4.3.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
Chapter 5. Personalized Medicine Market: End-use Estimates & Trend Analysis
                      5.1. Method Market Share, 2023 & 2030
                      5.2. Segment Dashboard
                      5.3. Global Personalized Medicine Market by End-use Outlook
                      5.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
                          5.4.1. Hospitals
                              5.4.1.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
                          5.4.2. Academic & Research Institutes
                              5.4.2.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
                          5.4.3. Diagnostic Centers
                              5.4.3.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
                          5.4.4. Others
                              5.4.4.1. Market estimates and forecasts 2018 to 2030 (USD Billion)
Chapter 6. Personalized Medicine Market: Regional Estimates & Trend Analysis
                      6.1. Regional Market Share Analysis, 2023 & 2030
                      6.2. Regional Market Dashboard
                      6.3. Global Regional Market Snapshot
                      6.4. Market Size, & Forecasts Trend Analysis, 2018 to 2030:
                      6.5. North America
                          6.5.1. U.S.
                              6.5.1.1. Key country dynamics
                              6.5.1.2. Regulatory framework/ reimbursement structure
                              6.5.1.3. Competitive scenario
                              6.5.1.4. U.S. market estimates and forecasts 2018 to 2030 (USD Billion)
                          6.5.2. Canada
                              6.5.2.1. Key country dynamics
                              6.5.2.2. Regulatory framework/ reimbursement structure
                              6.5.2.3. Competitive scenario
                              6.5.2.4. Canada market estimates and forecasts 2018 to 2030 (USD Billion)
                      6.6. Europe
                          6.6.1. UK
                              6.6.1.1. Key country dynamics
                              6.6.1.2. Regulatory framework/ reimbursement structure
                              6.6.1.3. Competitive scenario
                              6.6.1.4. UK market estimates and forecasts 2018 to 2030 (USD Billion)
                          6.6.2. Germany
                              6.6.2.1. Key country dynamics
                              6.6.2.2. Regulatory framework/ reimbursement structure
                              6.6.2.3. Competitive scenario
                              6.6.2.4. Germany market estimates and forecasts 2018 to 2030 (USD Billion)
                          6.6.3. France
                              6.6.3.1. Key country dynamics
                              6.6.3.2. Regulatory framework/ reimbursement structure
                              6.6.3.3. Competitive scenario
                              6.6.3.4. France market estimates and forecasts 2018 to 2030 (USD Billion)
                          6.6.4. Italy
                              6.6.4.1. Key country dynamics
                              6.6.4.2. Regulatory framework/ reimbursement structure
                              6.6.4.3. Competitive scenario
                              6.6.4.4. Italy market estimates and forecasts 2018 to 2030 (USD Billion)
                          6.6.5. Spain
                              6.6.5.1. Key country dynamics
                              6.6.5.2. Regulatory framework/ reimbursement structure
                              6.6.5.3. Competitive scenario
                              6.6.5.4. Spain market estimates and forecasts 2018 to 2030 (USD Billion)
                          6.6.6. Norway
                              6.6.6.1. Key country dynamics
                              6.6.6.2. Regulatory framework/ reimbursement structure
                              6.6.6.3. Competitive scenario
                              6.6.6.4. Norway market estimates and forecasts 2018 to 2030 (USD Billion)
                          6.6.7. Sweden
                              6.6.7.1. Key country dynamics
                              6.6.7.2. Regulatory framework/ reimbursement structure
                              6.6.7.3. Competitive scenario
                              6.6.7.4. Sweden market estimates and forecasts 2018 to 2030 (USD Billion)
                          6.6.8. Denmark
                              6.6.8.1. Key country dynamics
                              6.6.8.2. Regulatory framework/ reimbursement structure
                              6.6.8.3. Competitive scenario
                              6.6.8.4. Denmark market estimates and forecasts 2018 to 2030 (USD Billion)
                      6.7. Asia Pacific
                          6.7.1. Japan
                              6.7.1.1. Key country dynamics
                              6.7.1.2. Regulatory framework/ reimbursement structure
                              6.7.1.3. Competitive scenario
                              6.7.1.4. Japan market estimates and forecasts 2018 to 2030 (USD Billion)
                          6.7.2. China
                              6.7.2.1. Key country dynamics
                              6.7.2.2. Regulatory framework/ reimbursement structure
                              6.7.2.3. Competitive scenario
                              6.7.2.4. China market estimates and forecasts 2018 to 2030 (USD Billion)
                          6.7.3. India
                              6.7.3.1. Key country dynamics
                              6.7.3.2. Regulatory framework/ reimbursement structure
                              6.7.3.3. Competitive scenario
                              6.7.3.4. India market estimates and forecasts 2018 to 2030 (USD Billion)
                          6.7.4. Australia
                              6.7.4.1. Key country dynamics
                              6.7.4.2. Regulatory framework/ reimbursement structure
                              6.7.4.3. Competitive scenario
                              6.7.4.4. Australia market estimates and forecasts 2018 to 2030 (USD Billion)
                          6.7.5. South Korea
                              6.7.5.1. Key country dynamics
                              6.7.5.2. Regulatory framework/ reimbursement structure
                              6.7.5.3. Competitive scenario
                              6.7.5.4. South Korea market estimates and forecasts 2018 to 2030 (USD Billion)
                          6.7.6. Thailand
                              6.7.6.1. Key country dynamics
                              6.7.6.2. Regulatory framework/ reimbursement structure
                              6.7.6.3. Competitive scenario
                              6.7.6.4. Thailand market estimates and forecasts 2018 to 2030 (USD Billion)
                      6.8. Latin America
                          6.8.1. Brazil
                              6.8.1.1. Key country dynamics
                              6.8.1.2. Regulatory framework/ reimbursement structure
                              6.8.1.3. Competitive scenario
                              6.8.1.4. Brazil market estimates and forecasts 2018 to 2030 (USD Billion)
                          6.8.2. Mexico
                              6.8.2.1. Key country dynamics
                              6.8.2.2. Regulatory framework/ reimbursement structure
                              6.8.2.3. Competitive scenario
                              6.8.2.4. Mexico market estimates and forecasts 2018 to 2030 (USD Billion)
                          6.8.3. Argentina
                              6.8.3.1. Key country dynamics
                              6.8.3.2. Regulatory framework/ reimbursement structure
                              6.8.3.3. Competitive scenario
                              6.8.3.4. Argentina market estimates and forecasts 2018 to 2030 (USD Billion)
                      6.9. MEA
                          6.9.1. South Africa
                              6.9.1.1. Key country dynamics
                              6.9.1.2. Regulatory framework/ reimbursement structure
                              6.9.1.3. Competitive scenario
                              6.9.1.4. South Africa market estimates and forecasts 2018 to 2030 (USD Billion)
                          6.9.2. Saudi Arabia
                              6.9.2.1. Key country dynamics
                              6.9.2.2. Regulatory framework/ reimbursement structure
                              6.9.2.3. Competitive scenario
                              6.9.2.4. Saudi Arabia market estimates and forecasts 2018 to 2030 (USD Billion)
                          6.9.3. UAE
                              6.9.3.1. Key country dynamics
                              6.9.3.2. Regulatory framework/ reimbursement structure
                              6.9.3.3. Competitive scenario
                              6.9.3.4. UAE market estimates and forecasts 2018 to 2030 (USD Billion)
                          6.9.4. Kuwait
                              6.9.4.1. Key country dynamics
                              6.9.4.2. Regulatory framework/ reimbursement structure
                              6.9.4.3. Competitive scenario
                              6.9.4.4. Kuwait market estimates and forecasts 2018 to 2030 (USD Billion)
Chapter 7. Competitive Landscape
                      7.1. Recent Developments & Impact Analysis, By Key Market Participants
                      7.2. Company/Competition Categorization
                      7.3. Vendor Landscape
                          7.3.1. List of key distributors and channel partners
                          7.3.2. Key customers
                          7.3.3. Key company market share analysis, 2023
                          7.3.4. GE Healthcare
                              7.3.4.1. Overview
                              7.3.4.2. Financial Performance
                              7.3.4.3. Product Benchmarking
                              7.3.4.4. Strategic Initiatives
                          7.3.5. Illumina, Inc.
                              7.3.5.1. Overview
                              7.3.5.2. Financial Performance
                              7.3.5.3. Product Benchmarking
                              7.3.5.4. Strategic Initiatives
                          7.3.6. ASURAGEN, INC.
                              7.3.6.1. Overview
                              7.3.6.2. Financial Performance
                              7.3.6.3. Product Benchmarking
                              7.3.6.4. Strategic Initiatives
                          7.3.7. Abbott
                              7.3.7.1. Overview
                              7.3.7.2. Financial Performance
                              7.3.7.3. Product Benchmarking
                              7.3.7.4. Strategic Initiatives
                          7.3.8. Dako A/S
                              7.3.8.1. Overview
                              7.3.8.2. Financial Performance
                              7.3.8.3. Product Benchmarking
                              7.3.8.4. Strategic Initiatives
                          7.3.9. Exact Sciences Corporation
                              7.3.9.1. Overview
                              7.3.9.2. Financial Performance
                              7.3.9.3. Product Benchmarking
                              7.3.9.4. Strategic Initiatives
                          7.3.10. Danaher Corporation (Cepheid, Inc.)
                              7.3.10.1. Overview
                              7.3.10.2. Financial Performance
                              7.3.10.3. Product Benchmarking
                              7.3.10.4. Strategic Initiatives
                          7.3.11. Decode Genetics, Inc.
                              7.3.11.1. Overview
                              7.3.11.2. Financial Performance
                              7.3.11.3. Product Benchmarking
                              7.3.11.4. Strategic Initiatives
                          7.3.12. QIAGEN
                              7.3.12.1. Overview
                              7.3.12.2. Financial Performance
                              7.3.12.3. Product Benchmarking
                              7.3.12.4. Strategic Initiatives
                          7.3.13. Exagen Inc.
                              7.3.13.1. Overview
                              7.3.13.2. Financial Performance
                              7.3.13.3. Product Benchmarking
                              7.3.13.4. Strategic Initiatives
                          7.3.14. Precision Biologics
                              7.3.14.1. Overview
                              7.3.14.2. Financial Performance
                              7.3.14.3. Product Benchmarking
                              7.3.14.4. Strategic Initiatives
                          7.3.15. Celera Diagnostics LLC
                              7.3.15.1. Overview
                              7.3.15.2. Financial Performance
                              7.3.15.3. Product Benchmarking
                              7.3.15.4. Strategic Initiatives
                          7.3.16. Biogen
                              7.3.16.1. Overview
                              7.3.16.2. Financial Performance
                              7.3.16.3. Product Benchmarking
                              7.3.16.4. Strategic Initiatives
                          7.3.17. Genelex
                              7.3.17.1. Overview
                              7.3.17.2. Financial Performance
                              7.3.17.3. Product Benchmarking
                              7.3.17.4. Strategic Initiatives
                          7.3.18. IBM
                              7.3.18.1. Overview
                              7.3.18.2. Financial Performance
                              7.3.18.3. Product Benchmarking
                              7.3.18.4. Strategic Initiatives
                          7.3.19. Genentech, Inc.
                              7.3.19.1. Overview
                              7.3.19.2. Financial Performance
                              7.3.19.3. Product Benchmarking
                              7.3.19.4. Strategic Initiatives
                          7.3.20. 23andMe, Inc.
                              7.3.20.1. Overview
                              7.3.20.2. Financial Performance
                              7.3.20.3. Product Benchmarking
                              7.3.20.4. Strategic Initiatives


List of Tables

Table 1 List of Abbreviation
Table 2 North America Personalized Medicine Market, By Country, 2018 - 2030 (USD Billion)
Table 3 North America Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 4 North America Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 5 U.S. Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 6 U.S. Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 7 Canada Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 8 Canada Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 9 Europe Personalized Medicine Market, By Country, 2018 - 2030 (USD Billion)
Table 10 Europe Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 11 Europe Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 12 France Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 13 France Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 14 Germany Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 15 Germany Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 16 UK Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 17 UK Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 18 Spain Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 19 Spain Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 20 France Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 21 France Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 22 Italy Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 23 Italy Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 24 Sweden Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 25 Sweden Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 26 Norway Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 27 Norway Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 28 Denmark Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 29 Denmark Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 30 Asia Pacific Personalized Medicine Market, By Country, 2018 - 2030 (USD Billion)
Table 31 Asia Pacific Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 32 Asia Pacific Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 33 Japan Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 34 Japan Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 35 China Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 36 China Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 37 India Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 38 India Personalized Medicine Market, By End-Use, 2018 - 2030 (USD Billion)
Table 39 South Korea Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 40 South Korea Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 41 Australia Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 42 Australia Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 43 Thailand Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 44 Thailand Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 45 Latin America Personalized Medicine Market, By Country, 2018 - 2030 (USD Billion)
Table 46 Latin America Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 47 Latin America Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 48 Brazil Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 49 Brazil Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 50 Mexico Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 51 Mexico Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 52 Argentina Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 53 Argentina Personalized Medicine Market, By End-Use, 2018 - 2030 (USD Billion)
Table 54 MEA Personalized Medicine Market, By Country, 2018 - 2030 (USD Billion)
Table 55 MEA Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 56 MEA Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 57 South Africa Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 58 South Africa Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 59 Saudi Arabia Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 60 Saudi Arabia Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 61 UAE Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 62 UAE Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)
Table 63 Kuwait Personalized Medicine Market, By Product, 2018 - 2030 (USD Billion)
Table 64 Kuwait Personalized Medicine Market, By End-use, 2018 - 2030 (USD Billion)


List of Figures

Fig. 1 Market research process
Fig. 2 Information procurement
Fig. 3 Primary research pattern
Fig. 4 Market research approaches
Fig. 5 Value chain-based sizing & forecasting
Fig. 6 Market formulation & validation
Fig. 7 Personalized medicine market segmentation
Fig. 8 Market snapshot, 2023
Fig. 9 Market trends & outlook
Fig. 10 Market driver relevance analysis (current & future impact)
Fig. 11 Market restraint relevance analysis (current & future impact)
Fig. 12 PESTEL analysis
Fig. 13 Porter’s five forces analysis
Fig. 14 Global personalized medicine market, for product, 2018 - 2030 (USD Billion)
Fig. 15 Global personalized medicine market, for diagnostics, 2018 - 2030 (USD Billion)
Fig. 16 Global personalized medicine market, for genetic testing, 2018 - 2030 (USD Billion)
Fig. 17 Global personalized medicine market, for direct-to-consumer (DTC) testing, 2018 - 2030 (USD Billion)
Fig. 18 Global personalized medicine market, for esoteric lab services, 2018 - 2030 (USD Billion)
Fig. 19 Global personalized medicine market, for esoteric lab tests, 2018 - 2030 (USD Billion)
Fig. 20 Global personalized medicine market, for therapeutics, 2018 - 2030 (USD Billion)
Fig. 21 Global personalized medicine market, for pharmaceutical, 2018 - 2030 (USD Billion)
Fig. 22 Global personalized medicine market, for genomic medicine, 2018 - 2030 (USD Billion)
Fig. 23 Global personalized medicine market, for medical devices, 2018 - 2030 (USD Billion)
Fig. 24 Global personalized medicine market, for personalized medical care, 2018 - 2030 (USD Billion)
Fig. 25 Global personalized medicine market, for telemedicine, 2018 - 2030 (USD Billion)
Fig. 26 Global personalized medicine market, for health information technology, 2018 - 2030 (USD Billion)
Fig. 27 Global personalized medicine market, for personalized nutrition & wellness, 2018 - 2030 (USD Billion)
Fig. 28 Global personalized medicine market, for retail nutrition, 2018 - 2030 (USD Billion)
Fig. 29 Global personalized medicine market, for complementary & alternative medicine, 2018 - 2030 (USD Billion)
Fig. 30 Global personalized medicine market, for End-use, 2018 - 2030 (USD Billion)
Fig. 31 Global personalized medicine market, for diagnostics centers, 2018 - 2030 (USD Billion)
Fig. 32 Global personalized medicine market, for academic and research institutes, 2018 - 2030 (USD Billion)
Fig. 33 Global personalized medicine market, for hospitals, 2018 - 2030 (USD Billion)
Fig. 34 Global personalized medicine market, for others, 2018 - 2030 (USD Billion)
Fig. 35 Regional outlook, 2023 & 2030
Fig. 36 North America personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 37 U.S. personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 38 Canada personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 39 Europe personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 40 Germany personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 41 UK personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 42 France personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 43 Italy personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 44 Spain personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 45 Denmark personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 46 Sweden personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 47 Norway personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 48 Asia Pacific personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 49 Japan personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 50 China personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 51 India personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 52 Australia personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 53 Thailand personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 54 South Korea personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 55 Latin America personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 56 Brazil personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 57 Mexico personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 58 Argentina personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 59 MEA personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 60 South Africa personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 61 Saudi Arabia personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 62 UAE personalized medicine market, 2018 - 2030 (USD Billion)
Fig. 63 Kuwait personalized medicine market, 2018 - 2030 (USD Billion)

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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 End-use Outlook (Revenue, USD Billion, 2018 - 2030)
    • Hospitals
    • Diagnostic Centers
    • Research & Academic Institutes
    • Others
  • 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
      • North America End-use Outlook (Revenue, USD Billion, 2018 - 2030)
        • Hospitals
        • Diagnostic Centers
        • Research & Academic Institutes
        • Others
      • 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
        • U.S. End-use Outlook (Revenue, USD Billion, 2018 - 2030)
          • Hospitals
          • Diagnostic Centers
          • Research & Academic Institutes
          • Others
      • 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
        • Canada End-use Outlook (Revenue, USD Billion, 2018 - 2030)
          • Hospitals
          • Diagnostic Centers
          • Research & Academic Institutes
          • Others
    • 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
      • Europe End-use Outlook (Revenue, USD Billion, 2018 - 2030)
        • Hospitals
        • Diagnostic Centers
        • Research & Academic Institutes
        • Others
      • 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
        • Germany End-use Outlook (Revenue, USD Billion, 2018 - 2030)
          • Hospitals
          • Diagnostic Centers
          • Research & Academic Institutes
          • Others
      • 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
        • UK End-use Outlook (Revenue, USD Billion, 2018 - 2030)
          • Hospitals
          • Diagnostic Centers
          • Research & Academic Institutes
          • Others
      • France
        • France 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 End-use Outlook (Revenue, USD Billion, 2018 - 2030)
          • Hospitals
          • Diagnostic Centers
          • Research & Academic Institutes
          • Others
      • Italy
        • Italy 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
        • Italy End-use Outlook (Revenue, USD Billion, 2018 - 2030)
          • Hospitals
          • Diagnostic Centers
          • Research & Academic Institutes
          • Others
      • Spain
        • Spain 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
        • Spain End-use Outlook (Revenue, USD Billion, 2018 - 2030)
          • Hospitals
          • Diagnostic Centers
          • Research & Academic Institutes
          • Others
      • Denmark
        • 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
        • Denmark End-use Outlook (Revenue, USD Billion, 2018 - 2030)
          • Hospitals
          • Diagnostic Centers
          • Research & Academic Institutes
          • Others
      • 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
        • Sweden End-use Outlook (Revenue, USD Billion, 2018 - 2030)
          • Hospitals
          • Diagnostic Centers
          • Research & Academic Institutes
          • Others
      • 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
        • Norway End-use Outlook (Revenue, USD Billion, 2018 - 2030)
          • Hospitals
          • Diagnostic Centers
          • Research & Academic Institutes
          • Others
    • 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
      • Asia Pacific End-use Outlook (Revenue, USD Billion, 2018 - 2030)
        • Hospitals
        • Diagnostic Centers
        • Research & Academic Institutes
        • Others
      • 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
        • China End-use Outlook (Revenue, USD Billion, 2018 - 2030)
          • Hospitals
          • Diagnostic Centers
          • Research & Academic Institutes
          • Others
      • 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
        • India End-use Outlook (Revenue, USD Billion, 2018 - 2030)
          • Hospitals
          • Diagnostic Centers
          • Research & Academic Institutes
          • Others
      • 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
        • Japan End-use Outlook (Revenue, USD Billion, 2018 - 2030)
          • Hospitals
          • Diagnostic Centers
          • Research & Academic Institutes
          • Others
      • South Korea
        • South Korea 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 Korea End-use Outlook (Revenue, USD Billion, 2018 - 2030)
          • Hospitals
          • Diagnostic Centers
          • Research & Academic Institutes
          • Others
      • Thailand
        • Thailand 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
        • Thailand End-use Outlook (Revenue, USD Billion, 2018 - 2030)
          • Hospitals
          • Diagnostic Centers
          • Research & Academic Institutes
          • Others
      • 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
        • Australia End-use Outlook (Revenue, USD Billion, 2018 - 2030)
          • Hospitals
          • Diagnostic Centers
          • Research & Academic Institutes
          • Others
    • 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
      • Latin America End-use Outlook (Revenue, USD Billion, 2018 - 2030)
        • Hospitals
        • Diagnostic Centers
        • Research & Academic Institutes
        • Others
      • 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
        • Brazil End-use Outlook (Revenue, USD Billion, 2018 - 2030)
          • Hospitals
          • Diagnostic Centers
          • Research & Academic Institutes
          • Others
      • 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
        • Mexico End-use Outlook (Revenue, USD Billion, 2018 - 2030)
          • Hospitals
          • Diagnostic Centers
          • Research & Academic Institutes
          • Others
      • 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
        • Argentina End-use Outlook (Revenue, USD Billion, 2018 - 2030)
          • Hospitals
          • Diagnostic Centers
          • Research & Academic Institutes
          • Others
    • 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
      • Middle East & Africa End-use Outlook (Revenue, USD Billion, 2018 - 2030)
        • Hospitals
        • Diagnostic Centers
        • Research & Academic Institutes
        • Others
      • 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
        • South Africa End-use Outlook (Revenue, USD Billion, 2018 - 2030)
          • Hospitals
          • Diagnostic Centers
          • Research & Academic Institutes
          • Others
      • 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
        • Saudi Arabia End-use Outlook (Revenue, USD Billion, 2018 - 2030)
          • Hospitals
          • Diagnostic Centers
          • Research & Academic Institutes
          • Others
      • 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
        • UAE End-use Outlook (Revenue, USD Billion, 2018 - 2030)
          • Hospitals
          • Diagnostic Centers
          • Research & Academic Institutes
          • Others
      • 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
        • Kuwait End-use Outlook (Revenue, USD Billion, 2018 - 2030)
          • Hospitals
          • Diagnostic Centers
          • Research & Academic Institutes
          • Others

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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Research Methodology

A three-pronged approach was followed for deducing the personalized medicine market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for personalized medicine market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of personalized medicine market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Personalized Medicine Market Categorization:

The personalized medicine market was categorized into two segments, namely product (Personalized Medicine Diagnostics, Personalized Medicine Therapeutics, Personalized Medical Care, Personalized Nutrition & Wellness) and regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).

Segment Market Methodology:

The personalized medicine market was segmented into product and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The personalized medicine market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; Germany; the UK; France; Italy; Spain; Denmark; Sweden; Norway; China; Japan; India; Australia; Thailand; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Kuwait.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Personalized medicine market companies & financials:

The personalized medicine market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • GE Healthcare - GE Healthcare operates as a subsidiary of General Electric (GE) Company. It offers medical technologies and solutions to healthcare entities worldwide. Its specialties include cardiology, orthopedics, and ambulatory surgery centers. It offers products for bone health, EP recording, clinical parameters & accessories, Computed Tomography (CT), advanced visualization, diagnostic cardiology, hemodynamic recording, metabolic health, patient monitoring, healthcare IT, mammography, interventional image-guided systems, life sciences, perioperative care, radiography & fluoroscopy, magnetic resonance imaging, molecular imaging, nuclear imaging agents, perinatal care, respiratory care, surgical imaging, and ultrasound. Its FlexFactory platform is a bioprocess platform that uses single-use technology for mAbs production. The company was formerly known as GE Medical Systems and changed its name to GE Healthcare Limited in October 2003.

  • Illumina, Inc. - Illumina, Inc. develops, manufactures, & distributes integrated platforms and systems for sequencing. It is also involved in analyzing and investigating genomic & proteomic information, determining biological function, and gene sequence expression. The company provides NGS genotyping, sequencing, and gene expression analysis platforms. It operates mainly in North America and Europe. It is engaged in developing novel sequencing technologies to reduce the cost of sequencing whole genomes. It offers genomic and molecular diagnostic products & services to cater to the fields of oncology, molecular epidemiology, drug development, microbial genomics, agri-genomics, infectious diseases surveillance, forensic genomics, and translational research involving HLA sequencing & associated applications.

  • Bio-Techne (ASURAGEN, INC.) - The company is engaged in molecular diagnosis that drives patient management in oncology and genetic disorders through clinical testing solutions. It discovers, develops, & commercializes diagnostic products used in clinical laboratories and serves pharmaceutical diagnostic needs. Asuragen’s lines of innovative diagnostic systems are expected to help transform medicine by enhancing clinical outcomes. The products, services, and technologies drive patient management decisions across genetic disease, oncology, & other molecular tests.

  • Abbott - Abbott Laboratories is involved in discovering, developing, manufacturing, and marketing a wide range of healthcare products. The company operates its business through four reportable segments—diagnostic products, established pharmaceutical products, nutritional products, and cardiovascular & neuromodulation products. The diagnostic products segment includes various diagnostic systems and tests. The company markets & sells its products directly to hospitals, clinics, physicians’ offices, commercial laboratories, blood banks, government agencies, and therapeutic companies through its distribution centers, public warehouses, & third-party distributors.

  • Agilent Technologie s (Dako A/S) - The company offers immunohistochemistry products, including antibodies & controls, visualization systems, and ancillaries for immunohistochemistry. It also provides pharmacodiagnostic kits that allow doctors to find the right treatment for the right patient at the right time and molecular pathology products comprising CISH & FISH kits, FISH probes, labeled probes & detection systems, and blotting detection systems, which aid in deciphering the invisible features of cancer at a molecular level to provide diagnosis. The company has collaboration agreements with Bristol-Myers Squibb for the development of pharmDx tests and with Genentech for the regulatory submissions of HercepTest & HER2 FISH pharmDx as companion diagnostics for pertuzumab, as well as a strategic alliance with Epitomics to establish a portfolio of rabbit monoclonal antibodies. Dako A/S has operated as a subsidiary of Agilent Technologies, Inc. since June 2012.

  • Exact Sciences Corporation - Exact Sciences Corporation is a publicly traded organization dealing in molecular diagnostics specifically to provide solutions to the early detection and prevent colorectal cancer. This company is also involved in the development of noninvasive screening tests. It is known for Cologuard test, which is based on stool-based DNA & antibody-based immunochemical test (FIT) for the detection of polyps or precancerous lesions and the four phases of colorectal cancer. It also focuses on the treatment of inflammatory bowel disease.

  • Danaher Corporation (Cepheid, Inc.) - Danaher designs manufactures, and commercializes products and services catering to medical, professional, & commercial applications. The company operates through four segments: diagnostics, life sciences, environmental & applied solutions, and dental solutions. Danaher’s diagnostics segment offers reagents, analytical instruments, software, consumables, and services for physicians’ offices, hospitals, reference laboratories, & other critical care settings to diagnose various diseases. North America generated 38% of diagnostics share in 2016. Danaher’s facilities are in more than 60 countries. Danaher acquired Leica Biosystems Nussloch GmbH in 2005. The company offers products across immunohistochemistry, digital pathology, surgery, clinical microscopy, in situ hybridization, radiology, FISH, and histology equipment & consumables.

  • AMGEN INC (Decode Genetics, Inc.) - Amgen, Inc. was established as Applied Molecular Genetics and later renamed as Amgen. It is a biotechnology company that develops medicines for various conditions. The company relies on genetic tools to understand a disease for the development of medicines for various diseases. It has a presence in nearly 100 countries, and it focuses on six therapeutic fields: cardiovascular disease, nephrology, oncology/hematology, bone health, inflammation, and neuroscience.

  • QIAGEN - QIAGEN is a publicly held biotechnological company operating in over 25 countries, including the U.S., the U.K., Germany, the Netherlands, France, and China. The company has a key business in assay technologies for molecular diagnostics, pharmaceuticals, academics, and applied testing. Its product portfolio includes NGS, molecular diagnostics, animal & veterinary testing, bioinformatics, food & safety testing, human ID & forensics, and life science research. QIAGEN’s commercial partners and importers include Tecnolab, UniMed Ltd, Global Pharmaceutical Solution, and Suyog Diagnostics.

  • Exagen, Inc. - Exagen, Inc. is a privately held diagnostics company. It develops and markets products for diagnostic & prognostic procedures for physicians. In addition, it manufactures products for chronic diseases, organ-related disorders, and therapeutic procedures, especially for arthritis.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Personalized Medicine Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Personalized Medicine Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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