Personalized Medicine Market to Reach US$ 976.30 Billion by 2031 at 7.8% CAGR; North America Leads with 39% Share

The Global Personalized Medicine Market reached US$ 538.25 billion in 2023 and is expected to reach US$ 976.30 billion by 2031, growing at a CAGR of 7.8% during the forecast period 2024-2031. Market growth is driven by advancements in genomics, increasing adoption of targeted therapies, and rising demand for tailored treatment approaches that improve clinical outcomes.

Personalized medicine involves customizing medical treatment based on an individual's genetic profile, lifestyle, and disease characteristics. The market encompasses companion diagnostics, targeted therapeutics, pharmacogenomics, and precision diagnostics. Growing investments in precision healthcare, expanding applications in oncology and rare diseases, and supportive regulatory frameworks are further accelerating global market expansion.

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The Personalized Medicine Market refers to the global industry focused on tailoring medical treatments and therapies to individual patients based on genetic, biomarker, phenotypic, or lifestyle information to improve clinical outcomes.

Key Developments
✅ January 2026: In North America, integration of multi‐omics data and AI‐driven predictive models advanced personalized treatment planning, enabling more precise therapeutic selection and dosing for oncology and rare diseases.

✅ December 2025: In Europe, national healthcare systems expanded precision medicine initiatives by incorporating pharmacogenomic testing into standard care pathways to improve drug response prediction and reduce adverse effects.

✅ November 2025: In Asia‐Pacific, growth in genomic sequencing infrastructure and supportive government policies bolstered adoption of personalized medicine in oncology, cardiology, and metabolic disorders, enhancing early detection and targeted interventions.

✅ October 2025: In Latin America, partnerships between healthcare providers and diagnostics firms increased access to companion diagnostic tests, facilitating broader use of targeted therapies in regional treatment protocols.

✅ September 2025: In the Middle East, investment in precision healthcare pilot programs accelerated implementation of genomic and biomarker testing services, particularly in cancer care and pharmacogenomics.

✅ August 2025: In Africa, pilot personalized medicine projects partnered with global research institutions to build capacity in genetic testing and data analytics, laying groundwork for wider adoption in chronic and infectious disease management.

Mergers & Acquisitions
✅ January 2026: In North America, a major precision medicine company acquired a genomic diagnostics firm to integrate advanced sequencing and data interpretation capabilities into its personalized therapy platform.

✅ December 2025: In Europe, a healthcare technology group acquired a biomarker and companion diagnostic development specialist to strengthen its precision medicine and targeted therapy enablement offerings.

✅ November 2025: In Asia‐Pacific, a regional investor acquired a bioinformatics and clinical decision‐support services provider to expand personalized medicine analytics and implementation support across healthcare systems.

Key Players
Abbott | GE HealthCare | Danaher Corporation (Cepheid, Inc.) | ASURAGEN, Inc. | Exact Sciences Corporation | Illumina, Inc. | QIAGEN | Genentech, Inc. | Biogen | IBM

Key Highlights
Illumina, Inc. holds 20.8% share, driven by its leadership in next-generation sequencing, genomic analysis platforms, and strong adoption in precision oncology and diagnostics.

QIAGEN holds 16.9% share, supported by its molecular diagnostics solutions, companion diagnostics portfolio, and global reach in personalized medicine testing.

Abbott holds 14.3% share, benefiting from point-of-care diagnostics, genetic testing platforms, and integration of personalized healthcare solutions.

Exact Sciences Corporation holds 12.6% share, driven by non-invasive cancer screening tests and companion diagnostics supporting targeted therapies.

Danaher Corporation (Cepheid, Inc.) holds 10.7% share, leveraging molecular diagnostics instruments, rapid testing solutions, and precision medicine applications.

Genentech, Inc. holds 8.4% share, focused on targeted biologics and oncology therapies aligned with personalized medicine approaches.

Biogen holds 6.3% share, supported by investments in biomarker-driven therapies and precision neuroscience research.

GE HealthCare holds 5.2% share, contributing through imaging and diagnostic technologies that support personalized treatment planning.

ASURAGEN, Inc. holds 3.6% share, driven by molecular assay development and companion diagnostics for oncology and rare diseases.

IBM holds 1.2% share, focused on AI-driven precision medicine platforms, data analytics, and healthcare informatics to enable individualized patient care.

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Market Drivers
- Rising adoption of genomics and molecular diagnostics enabling targeted and individualized treatment strategies.

- Increasing prevalence of chronic diseases and cancer driving demand for precision therapies.

- Advances in biotechnology, big data analytics, and AI enhancing patient stratification and treatment optimization.

- Growing investments by pharmaceutical, biotechnology, and healthcare organizations in personalized medicine R&D.

- Supportive regulatory initiatives and increasing reimbursement frameworks for precision diagnostics and therapies.

Industry Developments
- Launch of AI‐powered genomic profiling and diagnostic platforms that inform tailored treatment plans.

- Expansion of personalized therapies including targeted drugs, cell and gene therapies, and immunotherapies.

- Strategic collaborations between diagnostics companies, pharmaceutical firms, and healthcare providers.

- Growth in direct‐to‐consumer genetic testing services supporting preventive personalized health insights.

- Increasing integration of real‐world evidence and predictive analytics in personalized care decision‐making.

Regional Insights
North America - 39% share: "Driven by advanced healthcare infrastructure, strong genomics research ecosystem, high R&D investments, and adoption of precision diagnostics and targeted therapies."

Europe - 27% share: "Supported by growing molecular diagnostics adoption, collaborative research initiatives, and supportive regulatory frameworks."

Asia Pacific - 24% share: "Fueled by increasing healthcare expenditure, expanding precision medicine initiatives, rising clinical research activities, and growing awareness."

Latin America - 6% share: "Driven by emerging precision medicine programs, expanding diagnostic capabilities, and improving healthcare access."

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Key Segments
By Product Type
Personalized medicine therapeutics dominate the market, driven by increasing adoption of targeted therapies tailored to individual genetic profiles and disease characteristics. Personalized medical care represents a substantial segment, supported by rising demand for customized treatment plans, precision diagnostics, and patient-centric healthcare delivery models.

By Application
Oncology accounts for the largest application segment, driven by advancements in biomarker-based therapies, targeted drugs, and precision immunotherapies. Neurology holds a significant share, supported by growing use of personalized approaches in treating neurodegenerative and neurological disorders. Cardiology represents a notable segment, fueled by precision diagnostics and individualized cardiovascular therapies. Psychiatry and immunology applications are growing steadily, driven by advancements in genomics, biomarkers, and tailored therapeutic strategies. Other applications contribute through emerging personalized approaches across diverse therapeutic areas.

By End-User
Hospitals and specialty care centers dominate the end-user segment, supported by advanced treatment facilities and integration of precision medicine into clinical workflows. Diagnostic centers hold a substantial share, driven by demand for genetic testing, biomarker analysis, and personalized diagnostic services. Research and academic institutes represent a growing segment, fueled by ongoing clinical research and translational studies. Other end users contribute to market growth through specialized clinics and innovative patient care models.

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