Personalized Medicine Market – Trends Forecast Till 2031

Market Snapshot

Market Overview

The global Personalized Medicine Market size was estimated at USD 52,839,280 million in 2024 and is projected to reach USD 88,811,011.1 million in 2031 at a CAGR of 7.7 % during the forecast period 2025-2031.

The global personalized medicine market refers to the segment of healthcare focused on tailoring medical treatment to individual characteristics, such as genetics, environment, and lifestyle. This approach moves away from the one-size-fits-all model, aiming instead to deliver more precise, predictable, and effective care. Personalized medicine encompasses a range of applications, including pharmacogenomics, biomarker testing, companion diagnostics, and targeted therapies. It holds significant promise in the management of chronic conditions such as cancer, cardiovascular diseases, and neurological disorders, with ongoing advancements in genomics and biotechnology playing a critical role in its growth.

The scope of the personalized medicine market extends across diagnostics, therapeutics, medical devices, and services. It includes the development of specialized drugs and diagnostic tools, as well as the integration of data analytics and digital health solutions to support customized treatment plans. The market spans various end-users including hospitals, diagnostic laboratories, and research institutes. Increasing demand for advanced diagnostic techniques and more efficient treatment protocols is expanding the market's reach in both developed and emerging economies, although infrastructure and cost remain limiting factors in certain regions.

Several trends are shaping the personalized medicine landscape. One of the most prominent is the integration of artificial intelligence and machine learning to analyze complex biological data, leading to more accurate predictions of disease risk and treatment response. Liquid biopsies and next-generation sequencing (NGS) are becoming more widely used, offering less invasive yet highly effective diagnostic alternatives. There is also a growing emphasis on patient engagement and preventive healthcare, supported by wearable tech and mobile health applications. Additionally, pharmaceutical companies are increasingly investing in companion diagnostics to enhance drug efficacy and regulatory approval success rates.

The market is driven by a combination of technological innovation, increasing prevalence of chronic diseases, rising healthcare costs, and growing consumer awareness. Government initiatives supporting genomics research and favorable regulatory frameworks have further accelerated development. Collaborations between biotech firms, pharmaceutical companies, and academic institutions have also fueled growth, alongside increased investment from both public and private sectors. However, challenges such as data privacy concerns, lack of standardization, and high costs of personalized treatments and diagnostics continue to pose barriers to broader adoption.

Impacts USA tariff rates on the Global Personalized Medicine Market

The imposition of tariffs by the Trump administration on imports, which included medical devices and raw materials crucial to biotech and pharmaceutical manufacturing, has created a ripple effect in the personalized medicine market. These tariffs will increase production costs for diagnostic kits, sequencing equipment, and certain drug components, affecting both pricing and availability. Small and mid-sized biotech companies, often reliant on global supply chains, will be particularly impacted. Delays in research and development cycles, increased expenses for end-users, and disruptions in innovation pipelines could be among the notable consequences, potentially slowing the pace of personalized medicine adoption in the U.S. and reducing its global competitiveness during that period.

Delvens Industry Expert's Standpoint

Experts in the Global Personalized Medicine Market highlight several key trends driving growth and innovation. The global personalized medicine market is rapidly evolving, driven by advancements in genomics, diagnostics, and AI-powered healthcare solutions. It focuses on tailoring treatments to individual patient profiles, improving outcomes, and reducing unnecessary interventions. The market spans diagnostics, therapeutics, and digital health, with rising demand fuelled by the increasing burden of chronic diseases and technological innovation.

Analyst view on the impacts of U.S. tariff rates on the Global Personalized Medicine Market

However, the imposition of tariffs by the Trump administration on medical and biotech imports, particularly from China, may lead to increased costs and supply chain disruptions, impacting R&D and slowing market growth temporarily. Small to mid-sized companies will feel the strain most acutely due to higher production expenses and limited resources to absorb cost hikes.

Market Portfolio

Key Findings

• Personalized nutrition and wellness held the largest market share at 38.57%, driven by high consumer demand and strong market penetration. A key factor behind this growth is the widespread availability of over-the-counter (OTC) nutrition products, which face fewer regulatory hurdles. A notable development in the space was Viome Life Sciences’ acquisition of Naring Health in November 2023, which included DiscernDX—an innovative platform for continuous health monitoring and early disease detection. This acquisition strengthens Viome’s capabilities in personalized health by enhancing its ability to deliver targeted food and supplement recommendations. The move underscores a broader industry shift toward deeply personalized nutrition plans, offering individuals tailored strategies based on their unique biological data.

• The personalized medicine therapeutics segment is expected to grow at the fastest rate from 2025 to 2031, fueled largely by advancements in next-generation sequencing (NGS) technology. As rapid, high-capacity sequencing platforms become more cost-effective, the overall expense of decoding the human genome is projected to drop significantly. This affordability is anticipated to accelerate the adoption of precision therapies, making them more accessible and attractive for both healthcare providers and patients. As a result, the market is poised for robust expansion, with personalized therapeutics playing a pivotal role in the evolution of targeted medical treatments.

• Hospitals emerged as the leading end-user in the personalized medicine market, accounting for the largest revenue share. Their central role stems not only from direct application of personalized therapies but also from their influence in shaping clinical practices. The growing incorporation of genomic diagnostics and tailored treatments within hospital settings signals a major shift toward individualized care. By integrating genetic insights into routine care, hospitals are enhancing treatment precision, improving patient outcomes, and encouraging innovation in diagnostics and therapeutics. This trend positions hospitals at the forefront of the personalized medicine movement, where they are instrumental in driving the next wave of healthcare transformation.

• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America region is projected to hold the largest market share. Factors such as The Global Personalized Medicine Market is growing due to advancements in genomics, rising chronic diseases, demand for targeted therapies, growth in genetic testing, healthcare IT expansion, government support, increased awareness, pharma R&D, adoption of companion diagnostics, and improved patient outcomes have triggered the Global Personalized Medicine Market in the region.

Regional Analysis

North America to Dominate the Market

• North America leads the personalized medicine market, capturing the largest share due to strong support from research institutions and pharmaceutical giants. Personalized medicine is increasingly favored across various disease areas, playing a vital role in both research and drug development. The region is also witnessing ongoing advancements in precision diagnostics. For example, Illumina, Inc. introduced the TruSight Oncology 500 (TSO 500) assay, capable of identifying 523 cancer biomarkers from tumor nucleic acids.

• The U.S. personalized medicine market is experiencing consistent growth, driven by the presence of major industry players such as GE Healthcare, Illumina, Inc., Danaher, Abbott Laboratories, ASURAGEN, Inc., and 23andMe, Inc. These companies are actively entering into partnerships and collaborations to expand access to personalized healthcare solutions.

• Europe’s personalized medicine market is seeing significant expansion, with Germany, the UK, and France providing strong opportunities for growth. In the UK, market development is being driven by the increasing use of companion diagnostics and the expansion of molecular diagnostic capabilities. France is benefiting from public and private funding efforts such as the Hu-PreciMED project, which unites over 45 medical and digital organizations to advance precision medicine. Meanwhile, Germany’s growth is supported by initiatives from both public and private entities, including EuroBioForum and the German Center for Infection Research.

• Asia Pacific is emerging as the fastest-growing region in the personalized medicine space, supported by enhanced healthcare infrastructure and increased healthcare spending in developing nations. Key players are expanding their presence in the region through strategic collaborations. For instance, MGI partnered with MiRXES to enhance access to spatial multiomics research. In China, market growth is fueled by government backing and international partnerships, while Japan is progressing through large-scale initiatives like the Japan Precision Medicine Platform developed by NTT Corporation and partners.

• In Latin America, the market is being driven by progress in cancer treatment, especially through the adoption of targeted therapies that aim to improve patient quality of life. Awareness efforts and medical conferences are also contributing to market expansion. Brazil stands out due to a surge in industry activity, including mergers, acquisitions, and joint ventures.

• The MEA region is becoming a key player in the personalized medicine landscape, supported by national genome projects across countries such as Saudi Arabia, UAE, Qatar, and Kuwait. These initiatives, including the Saudi Human Genome Program and the UAE Genome Project, are shaping the foundation of precision medicine in the region. In Saudi Arabia, the growing demand for diagnostics related to infectious diseases and increased awareness are further propelling market growth.

Competitive Landscape

• 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

• September 2023 – Agilent Technologies and the Advanced Cell Therapy and Research Institute, Singapore (ACTRIS) signed a Memorandum of Understanding (MOU) to jointly advance gene and cell therapy efforts over the next three years.

• July 2023 – Illumina and Pillar Biosciences entered a strategic partnership to globally commercialize Pillar’s oncology assay portfolio. As part of Illumina’s oncology offerings, this collaboration aims to expand access to advanced Next-Generation Sequencing (NGS) solutions, supporting more personalized cancer care.

• June 2023 – GE Healthcare and DePuy Synthes signed a distribution agreement to broaden the availability of the OEC 3D Imaging System in the U.S., enhancing DePuy Synthes’ surgical product offerings and reaching more healthcare providers and patients.

• June 2023 – Exact Sciences Corporation initiated independent collaborations with two leading cancer research institutions. These partnerships are designed to improve access to genomic data and ultimately elevate the standard of patient care.

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