Personalized Medicine Market Statistics, Emerging Demands
and Forecast

Personalized
Medicine Market size was estimated at USD 52,839,280 million in 2024
and is projected to reach USD 88,811,011.1 million in 2031 at a CAGR of 7.7 %
during the forecast period 2025-2031.

The global personalized medicine market refers to the
segment of healthcare focused on tailoring medical treatment to individual
characteristics, such as genetics, environment, and lifestyle. This approach
moves away from the one-size-fits-all model, aiming instead to deliver more
precise, predictable, and effective care. Personalized medicine encompasses a
range of applications, including pharmacogenomics, biomarker testing, companion
diagnostics, and targeted therapies.

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The imposition of tariffs by the Trump administration on
imports, which included medical devices and raw materials crucial to biotech
and pharmaceutical manufacturing, has created a ripple effect in the
personalized medicine market. These tariffs will increase production costs for
diagnostic kits, sequencing equipment, and certain drug components, affecting
both pricing and availability.

Small and mid-sized biotech companies, often reliant on
global supply chains, will be particularly impacted. Delays in research and
development cycles, increased expenses for end-users, and disruptions in
innovation pipelines could be among the notable consequences, potentially
slowing the pace of personalized medicine adoption in the U.S. and reducing its
global competitiveness during that period.

Recent Developments: Personalized Medicine Market

·       
September
2023 – Agilent Technologies and the Advanced Cell Therapy and Research
Institute, Singapore (ACTRIS) signed a Memorandum of Understanding (MOU) to
jointly advance gene and cell therapy efforts over the next three years.

·       
July 2023
– Illumina and Pillar Biosciences entered a strategic partnership to
globally commercialize Pillar’s oncology assay portfolio. As part of Illumina’s
oncology offerings, this collaboration aims to expand access to advanced
Next-Generation Sequencing (NGS) solutions, supporting more personalized cancer
care.

·       
June 2023
– GE Healthcare and DePuy Synthes signed a distribution agreement to
broaden the availability of the OEC 3D Imaging System in the U.S., enhancing
DePuy Synthes’ surgical product offerings and reaching more healthcare
providers and patients.

·       
June 2023
– Exact Sciences Corporation initiated independent collaborations with two
leading cancer research institutions. These partnerships are designed to
improve access to genomic data and ultimately elevate the standard of patient
care.

The Prominent Players
in the Global Personalized Medicine Market are

·       
GE Healthcare

·       
Illumina, Inc.

·       
ASURAGEN, INC.

·       
Abbott

·       
Dako A/S

·       
Exact Sciences Corporation

·       
Danaher Corporation (Cepheid, Inc.)

·       
Decode Genetics, Inc.

·       
QIAGEN

·       
Exagen Inc.

·       
Precision Biologics

·       
Celera Diagnostics LLC.

·       
Biogen

·       
Genelex and More

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Analyst view on the
impacts of U.S. tariff rates on the Global Personalized Medicine Market

However, the imposition of tariffs by the Trump
administration on medical and biotech imports, particularly from China, may
lead to increased costs and supply chain disruptions, impacting R&D and
slowing market growth temporarily. Small to mid-sized companies will feel the
strain most acutely due to higher production expenses and limited resources to
absorb cost hikes.

North America to
Dominate the Market

·       
North America leads the personalized medicine
market, capturing the largest share due to strong support from research
institutions and pharmaceutical giants. Personalized medicine is increasingly
favored across various disease areas, playing a vital role in both research and
drug development. The region is also witnessing ongoing advancements in
precision diagnostics.

·       
The U.S. personalized medicine market is
experiencing consistent growth, driven by the presence of major industry
players such as GE Healthcare, Illumina, Inc., Danaher, Abbott Laboratories,
ASURAGEN, Inc., and 23andMe, Inc.

·       
Europe’s personalized medicine market is seeing
significant expansion, with Germany, the UK, and France providing strong
opportunities for growth. In the UK, market development is being driven by the
increasing use of companion diagnostics and the expansion of molecular
diagnostic capabilities.

The Global
Personalized Medicine Market is segmented into various segments such as
Product, End Use and region.

Based on Product

·       
Personalized Medicine Diagnostics

·       
Personalized Medicine Therapeutics

·       
Personalized Medical Care

·       
Personalized Nutrition & Wellness

Based on End-use

·       
Hospitals

·       
Diagnostic Centers

·       
Research & Academic Institutes

·       
Others

The Report helps to
identify the opportunities in Global Regions:

·       
North America (the United States, Canada, and
Mexico)

·       
Europe (Germany, UK, France, Italy, Russia,
Turkey, etc.)

·       
Asia-Pacific (China, Japan, Korea, India,
Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and
Vietnam))

·       
South America (Brazil etc.)

·       
The Middle East and Africa (North Africa and GCC
Countries)

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In addition to the
market data for the Global Personalized Medicine Market, Delvens offers
client-centric reports customized according to the company’s specific demand
and requirements.

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