Product Code: MCP-7877
Global Personalized Medicines Market to Reach US$822.3 Billion by 2030
The global market for Personalized Medicines estimated at US$597.8 Billion in the year 2023, is expected to reach US$822.3 Billion by 2030, growing at a CAGR of 4.7% over the analysis period 2023-2030. Personalized Nutrition & Wellness, one of the segments analyzed in the report, is expected to record a 4.5% CAGR and reach US$484.0 Billion by the end of the analysis period. Growth in the Personalized Medical Care segment is estimated at 5.0% CAGR over the analysis period.
The U.S. Market is Estimated at US$158.8 Billion While China is Forecast to Grow at 4.4% CAGR
The Personalized Medicines market in the U.S. is estimated at US$158.8 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$130.3 Billion by the year 2030 trailing a CAGR of 4.4% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 4.2% and 3.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR.
Global Personalized Medicines Market - Key Trends and Drivers Summarized
Personalized medicine (PM) represents a transformative shift in healthcare, moving away from the traditional one-size-fits-all approach to a more tailored strategy based on individual genetic, epigenomic, and clinical profiles. This method enhances the efficacy of treatments, reduces side effects, and curtails overall healthcare costs by using detailed genomic and epigenomic data to personalize medical treatments precisely. Unlike conventional methods, personalized medicine adjusts treatments to the unique genetic composition of each individual, improving outcomes and reducing the risk of adverse reactions. This approach extends beyond treatment to prevention, utilizing genetic markers and other biomarkers to identify disease risk factors early, potentially preventing disease onset.
The technological advancements in molecular medicine, such as CRISPR-Cas9 gene editing and the development of monoclonal antibodies, are revolutionizing personalized medicine by enabling highly specific therapies that target disease mechanisms precisely. This specificity minimizes collateral damage to healthy cells and enhances treatment efficacy. Furthermore, artificial intelligence (AI) and machine learning are playing an increasingly critical role in personalized medicine by analyzing the vast datasets generated from genomic sequencing. These technologies help identify patterns and speed up the discovery of new therapeutic targets, thereby improving the customization and effectiveness of medical treatments. The proactive nature of personalized medicine not only improves the accuracy of diagnoses and treatment plans but also allows for more effective disease prevention strategies, which can be more cost-effective over time.
Despite its immense potential, personalized medicine faces several challenges that must be addressed to realize its full potential. The high costs of genetic testing and the integration of sophisticated personalized medicine technologies into mainstream healthcare practice are significant barriers. Additionally, ethical considerations and the need to protect patient privacy are paramount to maintaining trust in the use of genetic data for medical purposes. The field of personalized medicine is also influenced by an increased understanding of the genetic bases of diseases, growing demand for more effective treatments tailored to individual needs, and significant cost savings opportunities for healthcare systems. Moreover, regulatory support and the advancement of AI and machine learning are enhancing the predictive power of personalized medicine, making it an indispensable tool in clinical decision-making. As personalized medicine continues to evolve, it is set to redefine healthcare practices by providing more precise, predictive, and effective medical treatments tailored to the genetic profiles of individual patients, thereby enhancing the overall quality of care and patient outcomes.
Select Competitors (Total 87 Featured) -
- Abbott Molecular
- Beckman Coulter, Inc.
- bioMerieux SA
- Bristol-Myers Squibb Company
- Dako Denmark A/S
- F. Hoffmann-La Roche Ltd.
- GlaxoSmithKline Plc
- Hologic, Inc.
- Lab 21 Limited
- Macrogen, Inc.
- NeoGenomics Laboratories, Inc.
- Novartis AG
- QIAGEN NV
- Rosetta Genomics Ltd.
- Thermo Fischer Scientific Inc.
TABLE OF CONTENTS
I. METHODOLOGY
II. EXECUTIVE SUMMARY
- 1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Recent Market Activity
- Market Outlook
- Adoption of Personalized Medicines - A Peek into Developed and Developing Economies
- Increasing Market Availability of Personalized Medicines
- Select Key Approved Personalized Medicines and Associated Biomarkers by Therapeutic Area
- Constraints in Traditional Approach to Treatment Creates Need and Demand for Personalized Medicine
- Economics of Personalized Medicine
- Is Emergence of Personalized Medicine Signaling the End of Blockbusters?
- Personalized Medicines - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Global Economic Update
- 2. FOCUS ON SELECT PLAYERS
- 3. MARKET TRENDS & DRIVERS
- Rapid Advances in Genomic Sequencing Technology Propel Personalized Medicine
- Increased Investment in Biotechnology Spurs Growth in Tailored Treatments
- Data Integration from Real-World Sources Strengthens Precision Medicine
- Consumer Demand for Personalized Healthcare Accelerates Market Expansion
- AI and Machine Learning Enhance Predictive Capabilities in Medicine Personalization
- Rising Prevalence of Chronic Diseases Drives Demand for Customized Medication
- Wearable Health Technology Integration Supports Personalized Health Monitoring
- Pharmacogenomics Gains Traction in Drug Development and Dosage Optimization
- 4. GLOBAL MARKET PERSPECTIVE
- TABLE 1: World Recent Past, Current & Future Analysis for Personalized Medicines by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 2: World Historic Review for Personalized Medicines by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 3: World 16-Year Perspective for Personalized Medicines by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2014, 2024 & 2030
- TABLE 4: World Recent Past, Current & Future Analysis for Personalized Nutrition & Wellness by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 5: World Historic Review for Personalized Nutrition & Wellness by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 6: World 16-Year Perspective for Personalized Nutrition & Wellness by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
- TABLE 7: World Recent Past, Current & Future Analysis for Personalized Medical Care by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 8: World Historic Review for Personalized Medical Care by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 9: World 16-Year Perspective for Personalized Medical Care by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
- TABLE 10: World Recent Past, Current & Future Analysis for Personalized Medicine Diagnostics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 11: World Historic Review for Personalized Medicine Diagnostics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 12: World 16-Year Perspective for Personalized Medicine Diagnostics by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
- TABLE 13: World Recent Past, Current & Future Analysis for Personalized Medicine Therapeutics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 14: World Historic Review for Personalized Medicine Therapeutics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 15: World 16-Year Perspective for Personalized Medicine Therapeutics by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
- TABLE 16: World Personalized Medicines Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
III. MARKET ANALYSIS
- UNITED STATES
- Personalized Medicines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
- TABLE 17: USA Recent Past, Current & Future Analysis for Personalized Medicines by Product - Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 18: USA Historic Review for Personalized Medicines by Product - Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 19: USA 16-Year Perspective for Personalized Medicines by Product - Percentage Breakdown of Value Sales for Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics for the Years 2014, 2024 & 2030
- CANADA
- TABLE 20: Canada Recent Past, Current & Future Analysis for Personalized Medicines by Product - Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 21: Canada Historic Review for Personalized Medicines by Product - Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 22: Canada 16-Year Perspective for Personalized Medicines by Product - Percentage Breakdown of Value Sales for Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics for the Years 2014, 2024 & 2030
- JAPAN
- Personalized Medicines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
- TABLE 23: Japan Recent Past, Current & Future Analysis for Personalized Medicines by Product - Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 24: Japan Historic Review for Personalized Medicines by Product - Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 25: Japan 16-Year Perspective for Personalized Medicines by Product - Percentage Breakdown of Value Sales for Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics for the Years 2014, 2024 & 2030
- CHINA
- Personalized Medicines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
- TABLE 26: China Recent Past, Current & Future Analysis for Personalized Medicines by Product - Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 27: China Historic Review for Personalized Medicines by Product - Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 28: China 16-Year Perspective for Personalized Medicines by Product - Percentage Breakdown of Value Sales for Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics for the Years 2014, 2024 & 2030
- EUROPE
- Personalized Medicines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
- TABLE 29: Europe Recent Past, Current & Future Analysis for Personalized Medicines by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 30: Europe Historic Review for Personalized Medicines by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 31: Europe 16-Year Perspective for Personalized Medicines by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2014, 2024 & 2030
- TABLE 32: Europe Recent Past, Current & Future Analysis for Personalized Medicines by Product - Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 33: Europe Historic Review for Personalized Medicines by Product - Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 34: Europe 16-Year Perspective for Personalized Medicines by Product - Percentage Breakdown of Value Sales for Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics for the Years 2014, 2024 & 2030
- FRANCE
- Personalized Medicines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
- TABLE 35: France Recent Past, Current & Future Analysis for Personalized Medicines by Product - Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 36: France Historic Review for Personalized Medicines by Product - Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 37: France 16-Year Perspective for Personalized Medicines by Product - Percentage Breakdown of Value Sales for Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics for the Years 2014, 2024 & 2030
- GERMANY
- Personalized Medicines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
- TABLE 38: Germany Recent Past, Current & Future Analysis for Personalized Medicines by Product - Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 39: Germany Historic Review for Personalized Medicines by Product - Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 40: Germany 16-Year Perspective for Personalized Medicines by Product - Percentage Breakdown of Value Sales for Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics for the Years 2014, 2024 & 2030
- ITALY
- TABLE 41: Italy Recent Past, Current & Future Analysis for Personalized Medicines by Product - Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 42: Italy Historic Review for Personalized Medicines by Product - Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 43: Italy 16-Year Perspective for Personalized Medicines by Product - Percentage Breakdown of Value Sales for Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics for the Years 2014, 2024 & 2030
- UNITED KINGDOM
- Personalized Medicines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
- TABLE 44: UK Recent Past, Current & Future Analysis for Personalized Medicines by Product - Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 45: UK Historic Review for Personalized Medicines by Product - Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 46: UK 16-Year Perspective for Personalized Medicines by Product - Percentage Breakdown of Value Sales for Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics for the Years 2014, 2024 & 2030
- REST OF EUROPE
- TABLE 47: Rest of Europe Recent Past, Current & Future Analysis for Personalized Medicines by Product - Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 48: Rest of Europe Historic Review for Personalized Medicines by Product - Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 49: Rest of Europe 16-Year Perspective for Personalized Medicines by Product - Percentage Breakdown of Value Sales for Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics for the Years 2014, 2024 & 2030
- ASIA-PACIFIC
- Personalized Medicines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
- TABLE 50: Asia-Pacific Recent Past, Current & Future Analysis for Personalized Medicines by Product - Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 51: Asia-Pacific Historic Review for Personalized Medicines by Product - Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 52: Asia-Pacific 16-Year Perspective for Personalized Medicines by Product - Percentage Breakdown of Value Sales for Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics for the Years 2014, 2024 & 2030
- REST OF WORLD
- TABLE 53: Rest of World Recent Past, Current & Future Analysis for Personalized Medicines by Product - Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 54: Rest of World Historic Review for Personalized Medicines by Product - Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 55: Rest of World 16-Year Perspective for Personalized Medicines by Product - Percentage Breakdown of Value Sales for Personalized Nutrition & Wellness, Personalized Medical Care, Personalized Medicine Diagnostics and Personalized Medicine Therapeutics for the Years 2014, 2024 & 2030
IV. COMPETITION