Personalized Medicine Market

Personalized Medicine Market

Personalized Medicine Market Forecasts to 2030 - Global Analysis By Product (Personalized Medicine Therapeutics, Personalized Medicine Diagnostics, Personalized Medical Care, Personalized Nutrition & Wellness and Other Products), Application, End User and By Geography

4.6 (56 reviews)
4.6 (56 reviews)
Published: 2023 ID: SMRC24299

This report covers the impact of COVID-19 on this global market

Years Covered


Estimated Year Value (2023)

US $339 BN

Projected Year Value (2030)

US $797 BN

CAGR (2023 - 2030)


Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market

Asia Pacific

According to Stratistics MRC, the Global Personalized Medicine Market is accounted for $339 billion in 2023 and is expected to reach $797 billion by 2030 growing at a CAGR of 13.0% during the forecast period. Personalized medicine heavily relies on pharmacogenomic testing. It makes it possible for medical professionals to select the safest and most effective medications and doses for each patient by identifying how a person's genetic composition influences how they respond to treatment. By discovering certain genetic variants and creating medicines that target the underlying causes of these problems, personalized medicine is revolutionizing the diagnosis and treatment of uncommon diseases.

Cancer is the biggest cause of mortality worldwide, according to the World Health Organization (WHO), with an estimated 9.6 million deaths in 2018. This means that cancer is responsible for around 1 in every 6 deaths worldwide.

Market Dynamics: 


Rise in targeted therapies

The discipline of customized medicine has greatly benefited by the advent of targeted medicines. One essential element of personalized medicine is targeted medicines, which are created to explicitly target the genetic or molecular aspects of a patient's illness.  Comparing targeted therapies to standard treatments, one benefit is the decrease in adverse effects. Moreover, the probability of side effects is reduced by customizing therapies based on a patient's genetic or molecular profile, comparing targeted therapy to conventional, one-size-fits-all methods; greater treatment outcomes are frequently achieved. By identifying patients who are most likely to benefit from these medicines, personalized medicine increases the likelihood of success.


High cost

Exorbitant expenses may erect obstacles to entry, reserving tailored treatment for those with the means to obtain it. Healthcare inequalities may arise from this, with certain individuals receiving individualized, cutting-edge therapies while others lack access to them. Budgets for healthcare may be strained by the high expenses of individualized medication, which insurers and healthcare systems may find difficult to cover. This may restrict the number of these cutting-edge therapies that are offered by national or local healthcare systems. Because personalized medicine can be expensive, some patients may decide not to seek it and this could lead to missed chances for individualized therapies that might be safer and more successful.


Drug development efficiency

Scientific discoveries and research findings may be translated into practical therapies more swiftly with the aid of efficient drug development systems. As a result, patients will benefit from customized therapy sooner and more quickly from the most recent advances in genetics and molecular biology. Additionally, the cost reductions may result from more effective medication development. Thus, a wider range of patients may benefit from and be able to acquire customized medications due to their increased affordability and accessibility thereby enhancing the growth of the market.


Limited accessibility

Healthcare disparities may worsen if tailored medication is not widely available. There may be differences in health outcomes if patients who can afford individualized therapies receive subpar or ineffective care, while those who cannot afford these services may receive subpar or ineffective care. Cost considerations may prevent patients from selecting individualized therapy, which would reduce their autonomy over their medical care, less people having access to customized medicine might mean a lack of diverse patient data, which is essential for the field's achievements in research and treatment, insufficient data can impede the advancement of novel treatments and diagnostics.

Covid-19 Impact

Healthcare systems' and resources' first response to the COVID-19 pandemic has redirected them toward controlling and containing the virus. Numerous funds, including some targeted medicine projects, were taken away from non-urgent medical operations. Personalized medicine projects can benefit from the huge increase in telemedicine and remote monitoring that occurred during the epidemic. Remote consultations have made it possible to gather patient data and incorporate it into individualized treatment regimens, particularly for the management of chronic illnesses and mental health issues which has positively impacted the market growth.

The personalized medicine therapeutics segment is expected to be the largest during the forecast period

The personalized medicine therapeutics segment is estimated to have a lucrative growth, as this market for customized medicine has been steadily expanding due to developments in genomic sequencing technology and the growing accessibility of genetic and molecular data. It is anticipated that this rise will continue in the upcoming years as our knowledge of molecular biology and genetics expands. Genetic counselors are becoming more and more active in educating patients about the effects of their genetic information on their health. This is a vital part of customized treatment since it is important for patients to make educated decisions.

The psychiatry segment is expected to have the highest CAGR during the forecast period

The psychiatry segment is anticipated to witness the highest CAGR growth during the forecast period, as this can be very helpful in psychiatry when figuring out which psychotropic drugs are most likely to work and which can have negative side effects. Predicting a patient's reaction to particular psychiatric drugs can be aided by genetic testing and biomarker research. This spares medical professionals from the sometimes drawn-out process of trial and error involved in determining the appropriate prescription and dose, which is typical in the treatment of mental illness. Comorbid diseases like diabetes or cardiovascular problems are common in people with mental illnesses. 

Region with largest share:

North America is projected to hold the largest market share during the forecast period owing to the existence of many significant companies, including Abbott, Qiagen, GE Healthcare, and BASF SE. Furthermore, the rising rate of chronic illnesses in North America, including diabetes, heart disease, and cancer, is driving up demand for customized medical solutions that offer more focused and efficient therapies. Additionally, North America boasts a very sophisticated healthcare system that places a high value on innovation and the uptake of cutting-edge technologies. This has made it possible for customized medical technologies to emerge and become widely used in the area.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing the presence of pharmaceutical businesses in the area and the rise in the purchasing power of populous nations like China and India are responsible for the market's expansion. Additionally, it is projected that the market will develop due to an increase in the cost of personalized medication and the use of high-tech processing to enhance the creation of tailored solutions.  Moreover, the Asia-Pacific area has a sizable and expanding population, which is increasing the need for more individualized medical treatments, including individualized medications. 

Key players in the market

Some of the key players profiled in the Personalized Medicine Market include Abbott, Dako A/S, Exact Sciences Corporation, Decode Genetics, QIAGEN, Precision Biologics, Biogen, Genelex, IBM, Genentech, Inc., 23andMe, Inc, GE Healthcare, Illumina, Inc, ASURAGEN, Aadi Bioscience, Inc., Takeda Pharmaceutical Company Ltd, ARIEL Precision Medicine, Inc., Hoffmann-La Roche Ltd., Abbvie Inc and Eli Lilly and Company

Key Developments:

In November 2023, Abbott has received U.S. Food and Drug Administration (FDA) approval for its molecular human papillomavirus or HPV screening solution, adding a powerful cancer screening tool for detecting high-risk HPV infections to the Alinity m family of diagnostic assays.

In October 2023, Exact Sciences Corp. announced the introduction of the Oncotype MAP™ Pan-Cancer Tissue test for patients with advanced, metastatic, refractory, or recurrent cancer.

In September 2023, Abbott announced it has completed the acquisition of Bigfoot Biomedical, a leader in developing smart insulin management systems for people with diabetes.

Products Covered:
• Personalized Medicine Therapeutics
• Personalized Medicine Diagnostics
• Personalized Medical Care
• Personalized Nutrition & Wellness
• Other Products
Applications Covered:
• Cardiology
• Oncology
• Antiviral
• Psychiatry
• Neurology
• Immunology
• Other Applications

End Users Covered:
• Hospitals 
• Research & Academic Institutes 
• Diagnostic Centers 
• Other End Users 

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary    
2 Preface     
 2.1 Abstract    
 2.2 Stake Holders   
 2.3 Research Scope   
 2.4 Research Methodology  
  2.4.1 Data Mining  
  2.4.2 Data Analysis  
  2.4.3 Data Validation  
  2.4.4 Research Approach  
 2.5 Research Sources   
  2.5.1 Primary Research Sources 
  2.5.2 Secondary Research Sources 
  2.5.3 Assumptions  
3 Market Trend Analysis   
 3.1 Introduction   
 3.2 Drivers    
 3.3 Restraints    
 3.4 Opportunities   
 3.5 Threats    
 3.6 Product Analysis   
 3.7 Application Analysis   
 3.8 End User Analysis   
 3.9 Emerging Markets   
 3.10 Impact of Covid-19   
4 Porters Five Force Analysis   
 4.1 Bargaining power of suppliers  
 4.2 Bargaining power of buyers  
 4.3 Threat of substitutes   
 4.4 Threat of new entrants  
 4.5 Competitive rivalry   
5 Global Personalized Medicine Market, By Product 
 5.1 Introduction   
 5.2 Personalized Medicine Therapeutics 
  5.2.1 Pharmaceutical  
  5.2.2 Medical Devices  
  5.2.3 Genomic Medicine  
 5.3 Personalized Medicine Diagnostics 
  5.3.1 Esoteric Lab Services  
  5.3.2 Direct-To-Consumer (DTC) Diagnostics
  5.3.3 Genetic Testing  
  5.3.4 Esoteric Lab Tests  
 5.4 Personalized Medical Care  
  5.4.1 Health Information Technology 
  5.4.2 Telemedicine  
 5.5 Personalized Nutrition & Wellness 
  5.5.1 Complementary & Alternative Medicine
  5.5.2 Retail Nutrition  
 5.6 Other Products   
6 Global Personalized Medicine Market, By Application
 6.1 Introduction   
 6.2 Cardiology   
 6.3 Oncology    
 6.4 Antiviral    
 6.5 Psychiatry   
 6.6 Neurology   
 6.7 Immunology   
 6.8 Other Applications   
7 Global Personalized Medicine Market, By End User 
 7.1 Introduction   
 7.2 Hospitals    
 7.3 Research & Academic Institutes  
 7.4 Diagnostic Centers   
 7.5 Other End Users   
8 Global Personalized Medicine Market, By Geography
 8.1 Introduction   
 8.2 North America   
  8.2.1 US   
  8.2.2 Canada   
  8.2.3 Mexico   
 8.3 Europe    
  8.3.1 Germany   
  8.3.2 UK   
  8.3.3 Italy   
  8.3.4 France   
  8.3.5 Spain   
  8.3.6 Rest of Europe  
 8.4 Asia Pacific   
  8.4.1 Japan   
  8.4.2 China   
  8.4.3 India   
  8.4.4 Australia   
  8.4.5 New Zealand  
  8.4.6 South Korea  
  8.4.7 Rest of Asia Pacific  
 8.5 South America   
  8.5.1 Argentina   
  8.5.2 Brazil   
  8.5.3 Chile   
  8.5.4 Rest of South America 
 8.6 Middle East & Africa   
  8.6.1 Saudi Arabia  
  8.6.2 UAE   
  8.6.3 Qatar   
  8.6.4 South Africa  
  8.6.5 Rest of Middle East & Africa 
9 Key Developments    
 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
 9.2 Acquisitions & Mergers  
 9.3 New Product Launch   
 9.4 Expansions   
 9.5 Other Key Strategies   
10 Company Profiling    
 10.1 Abbott    
 10.2 Dako A/S    
 10.3 Exact Sciences Corporation  
 10.4 Decode Genetics   
 10.5 QIAGEN    
 10.6 Precision Biologics   
 10.7 Biogen    
 10.8 Genelex    
 10.9 IBM    
 10.10 Genentech, Inc.   
 10.11 23andMe, Inc   
 10.12 GE Healthcare   
 10.13 Illumina, Inc   
 10.14 ASURAGEN   
 10.15 Aadi Bioscience, Inc.   
 10.16 Takeda Pharmaceutical Company Ltd 
 10.17 ARIEL Precision Medicine, Inc.  
 10.18 Hoffmann-La Roche Ltd.  
 10.19 Abbvie Inc   
 10.20 Eli Lilly and Company   
List of Tables     
1 Global Personalized Medicine Market Outlook, By Region (2021-2030) ($MN)
2 Global Personalized Medicine Market Outlook, By Product (2021-2030) ($MN)
3 Global Personalized Medicine Market Outlook, By Personalized Medicine Therapeutics (2021-2030) ($MN)
4 Global Personalized Medicine Market Outlook, By Pharmaceutical (2021-2030) ($MN)
5 Global Personalized Medicine Market Outlook, By Medical Devices (2021-2030) ($MN)
6 Global Personalized Medicine Market Outlook, By Genomic Medicine (2021-2030) ($MN)
7 Global Personalized Medicine Market Outlook, By Personalized Medicine Diagnostics (2021-2030) ($MN)
8 Global Personalized Medicine Market Outlook, By Esoteric Lab Services (2021-2030) ($MN)
9 Global Personalized Medicine Market Outlook, By Direct-To-Consumer (DTC) Diagnostics (2021-2030) ($MN)
10 Global Personalized Medicine Market Outlook, By Genetic Testing (2021-2030) ($MN)
11 Global Personalized Medicine Market Outlook, By Esoteric Lab Tests (2021-2030) ($MN)
12 Global Personalized Medicine Market Outlook, By Personalized Medical Care (2021-2030) ($MN)
13 Global Personalized Medicine Market Outlook, By Health Information Technology (2021-2030) ($MN)
14 Global Personalized Medicine Market Outlook, By Telemedicine (2021-2030) ($MN)
15 Global Personalized Medicine Market Outlook, By Personalized Nutrition & Wellness (2021-2030) ($MN)
16 Global Personalized Medicine Market Outlook, By Complementary & Alternative Medicine (2021-2030) ($MN)
17 Global Personalized Medicine Market Outlook, By Retail Nutrition (2021-2030) ($MN)
18 Global Personalized Medicine Market Outlook, By Other Products (2021-2030) ($MN)
19 Global Personalized Medicine Market Outlook, By Application (2021-2030) ($MN)
20 Global Personalized Medicine Market Outlook, By Cardiology (2021-2030) ($MN)
21 Global Personalized Medicine Market Outlook, By Oncology (2021-2030) ($MN)
22 Global Personalized Medicine Market Outlook, By Antiviral (2021-2030) ($MN)
23 Global Personalized Medicine Market Outlook, By Psychiatry (2021-2030) ($MN)
24 Global Personalized Medicine Market Outlook, By Neurology (2021-2030) ($MN)
25 Global Personalized Medicine Market Outlook, By Immunology (2021-2030) ($MN)
26 Global Personalized Medicine Market Outlook, By Other Applications (2021-2030) ($MN)
27 Global Personalized Medicine Market Outlook, By End User (2021-2030) ($MN)
28 Global Personalized Medicine Market Outlook, By Hospitals (2021-2030) ($MN)
29 Global Personalized Medicine Market Outlook, By Research & Academic Institutes (2021-2030) ($MN)
30 Global Personalized Medicine Market Outlook, By Diagnostic Centers (2021-2030) ($MN)
31 Global Personalized Medicine Market Outlook, By Other End Users (2021-2030) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at

Frequently Asked Questions

In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: or phone: +1-301-202-5929

Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.

Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.

All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: or phone: +1-301-202-5929

We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at or call us on +1-301-202-5929.

We have 3 different licensing options available in electronic format.

  • Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
  • 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
  • Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.

All our reports are typically be emailed to you as an attachment.

To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.

We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.

Request Customization

We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at or call us on +1-301-202-5929.

Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.


Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.