Personalized Medicine Market Size, Share, Trends And Forecast 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Personalized Medicine Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The personalized medicine market size has grown rapidly in recent years. It will grow from $352.73 billion in 2023 to $390.65 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to rise of companion diagnostics, patient-centric healthcare, drug development paradigm shift, healthcare cost containment, increasing prevalence of chronic diseases.

The personalized medicine market size is expected to see rapid growth in the next few years. It will grow to $590.51 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to continued genomic advancements, expansion of biomarker discovery, growing adoption of telemedicine, regulatory support and frameworks, collaboration and data sharing. Major trends in the forecast period include integration of artificial intelligence (AI), advancements in genomic sequencing, data integration and analytics, immunotherapy and targeted therapies, patient empowerment and informed decision-making, collaborations and partnerships.

Get Free Sample Of This Report-
https://www.thebusinessresearchcompany.com/sample.aspx?id=10272&type=smp

Market Segmentation:
The personalized medicine market covered in this report is segmented -
1) By Product: Personalized Medicine Diagnostics, Personalized Medicine Therapeutics, Personalized Medical Care, Personalized Nutrition and Wellness
2) By Application: Oncology, Neurology, Blood Transfusion Safety, Diabetes, Autoimmune Diseases, Cardiology, Other Applications
3) By End-use: Hospitals, Diagnostic Centers, Research and Academic Institutes, Other End-Users

Major Driver - Rare Diseases Drive Personalized Medicine Growth
The increasing prevalence of rare diseases is expected to propel the growth of the personalized medicine market going forward. The increasing prevalence of rare diseases refers to the growing number of people who are diagnosed with rare diseases such as Klinefelter Syndrome, Aarskog Syndrome, Abetalipoproteinemia, and others. Personalized medicine approaches help to provide more tailored treatment options for individuals with rare diseases which are on the rise. For instance, in March 2021, according to the Journal of the European Academy of Dermatology and Venereology, the population prevalence of rare diseases was estimated at 3.5%-5.9%. this is equal to 260-440 million individuals affected across the world at a time. Moreover, according to an article published by Global Genes, a US-based non-profit advocacy organization, Globally 400 million people are suffering from a rare disease. Therefore, the increase in the prevalence of rare diseases is driving the growth of the personalized medicine market.

Competitive Landscape:
Major companies operating in the personalized medicine market report are Bayer AG, Novartis AG, Thermo Fisher Scientific Inc., GlaxoSmithKline plc, AstraZeneca plc, Abbott Laboratories, Danaher Corporation, Eli Lilly and Company, Decode Genetics Inc., GE HealthCare Technologies Inc., Roche Diagnostics, Genentech Inc., Biogen Inc., Illumina Inc., Qiagen N.V., Exact Sciences Corporation, Myriad Genetics Inc., Verily Life Sciences LLC, Guardant Health Inc., Tempus Labs, Oxford Nanopore Technologies, Foundation Medicine Inc., NanoString Technologies Inc., Exagen Inc., Asuragen Inc., Personal Genome Diagnostics, Precision Biologics Inc., Strata Oncology, Genelex Corp, Guardiome, Invitae Corporation, Color Genomics, Helix OpCo LLC, 10x Genomics Inc., Agena Bioscience Inc., Natera Inc., Becton Dickinson and Company, PerkinElmer Inc., Sophia Genetics, Genomic Vision, Personalis Inc.

Get Access To The Full Market Report -
https://www.thebusinessresearchcompany.com/report/personalized-medicine-global-market-report

Top Trend - Advancing Precision Medicine In Mental Health Through Real-World Data Programs And AI Integration
Major companies operating in the personalized medicine market are focusing on product launches, such as real-world data programs aimed at powering precision medicine solutions using real-world data for mental health. A real-world data program involves the systematic collection and analysis of information from everyday clinical practice and patient experiences to inform healthcare decisions and outcomes. For instance, in May 2022, Tempus, a US-based technology company that uses artificial intelligence to advance precision medicine, launched Tempus N+, a psychiatric real-world data program. The features include collaboration with academic medical institutions, an integrated operating system for mental health, secure data pipelines, access to real-world data, and an expansion of psychiatric care through EMR integration and pharmacogenomic testing. This launch significantly contributes to the personalized medicine market by advancing precision medicine solutions for mental health, utilizing real-world data, artificial intelligence, and academic collaborations to enhance treatment plans, improve patient outcomes, and empower data-driven decisions in mental health care.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Personalized Medicine Market Characteristics
3. Personalized Medicine Market Trends And Strategies
4. Personalized Medicine Market - Macro Economic Scenario
5. Personalized Medicine Market Size And Growth
…..
27. Personalized Medicine Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.

This release was published on openPR.