Personalized Medicine Market To Reach $1,196.18 Billion By 2033

Personalized Medicine Market Growth & Trends

The global personalized medicine market size is expected to reach USD 1,196.18 billion by 2033, expanding at a CAGR of 8.80% from 2025 to 2033, according to a new report by Grand View Research, Inc. owing to the increasing incidence of diseases and the rising demand for novel therapeutic drugs. The emerging applications of personalized medicine are consistently enhanced by immense research efforts. For instance, in July 2022, researchers at the UMass Chan Medical School developed a microorganism-based personalized medicine model system to aid the understanding of variation in metabolism to gauge the connection between an individual’s genome, diet, microbiota, and associative environmental factors.

Most cancer conditions are usually caused by an underlying genetic discrepancy and can cause fatalities with progression. The cancer condition can be effectively and precisely treated by understanding specific genomic characteristics. For instance, in May 2020, Qiagen launched QIAseq pan-cancer multi-modal panel to enable robust analysis of genomic characteristics of cancer subjects to derive a broad spectrum of applications in precision medicine for the profiling of solid tumors and heme malignancies.

The market is positively driven by advancements in NGS technologies and extensive research on the human genome. There has been an increasing focus on utilizing NGS to derive personalized medicine outcomes that could potentially be used for the treatment of cancer and rare genetic disorders. For instance, Illumina declared that it will present its multiple oncology research abstracts at the European Society of Medical Oncology (ESMO) annual meeting in Paris. Their research enables personalized cancer care using comprehensive genomic profiling of biopsies to match subjects to the potential drugs and immunotherapies.

Telemedicine facilitates virtual or telephonic clinical advice to aid physical convenience. Telemedicine is increasingly trending, especially after the COVID-19 pandemic. Government and research institutes are taking substantial efforts to enhance the applications of personalized telemedicine. For instance, in August 2022, the National Cancer Institute declared a grant of USD 23 million for five years to aid the launch of Telehealth Research Centers of Excellence (TRACE) across the U.S. The program was launched with the support of the White House Cancer Moonshot to seek development and advancements in telehealth delivery for cancer care with a mission to leverage health equity.

Molecular imaging systems and medical devices are playing a primary role in emerging advancements in personalized medicine. They effectively leverage the applications of personalized medicine in the treatment of different types of cancers. For instance, in June 2022, GE Healthcare declared the release of high-end molecular imaging by using gallium-68 radioisotope for the diagnosis and monitoring of prostate cancer so as to leverage access to precision health and theranostics for personalized prostate cancer treatment at an early stage of cancer progression.

The market is in the growth phase due to emerging technological advancements along with consistent industrial efforts such as collaborations and expansions. For instance, in December 2021, Biogen Inc., and TheraPanacea declared that they have signed a collaboration that focuses on advancing digital health for personalized medicine in neuroscience.

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Personalized Medicine Market Report Highlights

• The personalized nutrition & wellness segment dominated the market with the largest revenue share of 32.0% in 2024, driven by increasing consumer interest in preventive health and lifestyle optimization.

• The hospital segment dominated the market with the largest revenue share in 2024, attributed to the widespread integration of genomic diagnostics and targeted therapies in clinical workflows.

• North America held the largest personalized medicine market share of 40.17% in 2024 due to its advanced healthcare infrastructure and high adoption of genomic technologies.

Personalized Medicine Market Segmentation

Grand View Research has segmented the global personalized medicine market on the basis of product, end use, and region:

Personalized Medicine Product Outlook (Revenue, USD Million, 2021 - 2033)

• 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 Million, 2021 - 2033)

• Hospitals

• Diagnostic Centers

• Research & Academic Institutes

• Others

Personalized Medicine Regional Outlook (Revenue, USD Million, 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players of Personalized Medicine Market

• 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.