Personalized Medicine Industry Outlook 2025-2029: Market Set to Cross $662.67 Billion Milestone

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How Large Will the Personalized Medicine Market Size By 2025?
The market size for personalized medicine has seen a swift expansion in recent years. The value is expected to increase from $386.27 billion in 2024 to $426.82 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 10.5%. Factors contributing to this historic growth include the emergence of companion diagnostics, a shift towards more patient-focused healthcare, a paradigm shift in drug development, efforts to contain healthcare costs, and a rising occurrence of chronic diseases.

How Big Is the Personalized Medicine Market Size Expected to Grow by 2029?
Anticipated swift expansion is on the cards for the personalized medicine market in the coming years, with its size predicted to reach $662.67 billion in 2029, boasting a compound annual growth rate (CAGR) of 11.6%. This projected growth during the forecast period can be credited to ongoing advancements in genomics, the broadening of biomarker discovery, the rising adoption of telemedicine, regulatory backing and frameworks, and cooperation and data exchange. Key trends set to shape the forecast period are the inclusion of artificial intelligence (AI), progress in genomic sequencing, data unification and analytics, immunotherapy and targeted treatments, patient empowerment coupled with informed decision-making, and collaborations and alliances.

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Which Key Market Drivers Powering Personalized Medicine Market Expansion and Growth?
The growth of the personalized medicine market is projected to be propelled by the increasing occurrence of uncommon illnesses. This refers to the escalating count of people being diagnosed with unique conditions like Klinefelter Syndrome, Aarskog Syndrome, and Abetalipoproteinemia. Customized medicine provides treatments specifically designed for the requirements of patients suffering from rare diseases. For example, in February 2024, Genetic Alliance UK, a national UK charity assisting those affected by genetic, unusual and undiagnosed conditions, revealed that 3.5 million people in the UK were living with a rare disorder, and 1 out of every 17 individuals would experience a rare disease at some point in their lives. Thus, the continuous increase in the incidence of rare conditions is catalyzing the growth of the personalized medicine market.

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Which Fast-Growing Trends Are Poised to Disrupt the Personalized Medicine Market?
Innovations in technology are emerging as a discernible movement in the personalized medicine market. Predominant companies in this market are implementing revolutionary technologies in a bid to maintain their market standing. To illustrate, in April 2023, an artificial intelligence (AI) and real-world data using American healthcare company named OM1, patented an AI-based platform to facilitate the expansion of personalized medicine. By leveraging large-scale data to produce significant insights about diagnosis, progression, and variances in treatment responses, this innovation carries weight. It aids in providing custom healthcare guidance, bolsters informed choices for healthcare providers, and speeds up clinical trials by aptly recognizing appropriate candidates - steps that all add up to pushing the personalized medicine market frontiers forward.

What Are the Emerging Segments in the Personalized Medicine Market?
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

Subsegments:
1) By Personalized Medicine Diagnostics: Genetic Testing, Biomarker Testing, Companion Diagnostics, Molecular Imaging
2) By Personalized Medicine Therapeutics: Targeted Therapies, Gene Therapies, Monoclonal Antibodies, Cell and Gene Therapy Products
3) By Personalized Medical Care: Tailored Treatment Plans, Patient-Centric Care Models, Digital Health Solutions, Remote Patient Monitoring
4) By Personalized Nutrition And Wellness: Nutrigenomics, Customized Diet Plans, Supplement Personalization, Lifestyle Modification Programs

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Who Are the Global Leaders in the Personalized Medicine Market?
Major companies operating in the personalized medicine market include 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, 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.

Which are the Top Profitable Regional Markets for the Personalized Medicine Industry?
North America was the largest region in the personalized medicine market in 2024. Asia-pacific is expected to be the fastest-growing region in the global personalized medicine market during the forecast period. The regions covered in the personalized medicine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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