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Global Personalized Medicine Market to reach USD 880.42 billion by the end of 2029

Global Personalized Medicine Market Size study & Forecast, by Product (Personalized Medicine Diagnostics, Personalized Medicine Therapeutics, Personalized Medical Care, Personalized Nutrition & Wellness) and Regional Analysis, 2022-2029

Product Code: HLSDT-87058115
Publish Date: 10-04-2023
Page: 200

Global Personalized Medicine Market is valued approximately USD 514.33 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 6.95% over the forecast period 2022-2029. Personalised medicine, is also known as precision medicine, it divides people into distinct groups and then tailors medical decisions, therapies, practises, and/or products to each patient depending on that patient’s expected response or illness risk. The market is majorly driven by rising demand for novel drug discovery, rising number of cancer cases and other diseases. Along with this, growing number of clinical trials is driving the growth for the market over the forecast period 2022-2029. Moreover, rising initiatives by key market players is creating lucrative growth opportunity for the market over the period.

It is also projected that the rising prevalence of rare diseases will accelerate market expansion. The development of numerous individualized medical treatments and therapeutic activities has been made possible by advances in our understanding and correlation of the properties of the human genome. For instance, a research study conducted at the University of California, Irvine in September 2022 offered a unique method for treating inherited retinal diseases (IRDs) by applying precise genome editing that is highly tailored to the needs of an individual. Along with this, there are an increasing number of companion diagnostics that have received FDA approval. For example, Roche received U.S. FDA clearance in October 2020 to expand the use of the Cobas EGFR Mutation Test for the treatment of non-small cell lung cancer. However, the high cost of Personalized Medicine stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Personalized Medicine Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2021, North America had the largest share. This is linked to funding from large pharmaceutical companies and research organisations. All types of ailments are now best treated with personalised medicine, which is why drug discovery and research into any condition now include it. In the region, personalised medicine is advancing for diagnostic purposes. Due to rising demand for personalised diagnostics and novel treatment medications to combat the region’s rising disease prevalence, Asia Pacific is anticipated to have the fastest expanding segment over the course of the projection year.

Major market player included in this report are:
GE Healthcare
Illumina, Inc.
Dako A/S
Exact Sciences Corporation
Danaher Corporation (Cepheid, Inc.)
Decode Genetics, Inc.
Exagen Inc.

Recent Developments in the Market:
 In order to create personalised nutrition for healthcare providers and their subjects using a high-end technology interface, Panaceutics Nutrition and Viocare announced a collaborative agreement in January 2022. This agreement will combine Viocare’s nutrition assessment software with personalised nutrition supplementation to create an end-to-end service platform.
 Genomic Medicine Sweden (GMS) and the Centers for Personalized Medicine (ZPM) in Germany joined up in February 2022 to apply precision medicine in healthcare in strategic, structural, and content-specific ways.
Global Personalized Medicine Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Personalized Medicine Diagnostics
Personalized Medicine Therapeutics
Personalized Medical Care
Personalized Nutrition & Wellness

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Personalized Medicine Market, by Region, 2019-2029 (USD Billion)
1.2.2. Personalized Medicine Market, by Product, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Personalized Medicine Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Personalized Medicine Market Dynamics
3.1. Personalized Medicine Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Increasing prevalence of rare disease Growing number of clinical trials Rising demand for novel drug discovery
3.1.2. Market Challenges High cost of Personalized Medicine
3.1.3. Market Opportunities Rising initiatives by key market players
Chapter 4. Global Personalized Medicine Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Investment Adoption Model
4.5. Analyst Recommendation & Conclusion
4.6. Top investment opportunity
4.7. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Personalized Medicine Market, by Product
6.1. Market Snapshot
6.2. Global Personalized Medicine Market by Product, Performance – Potential Analysis
6.3. Global Personalized Medicine Market Estimates & Forecasts by Product 2019-2029 (USD Billion)
6.4. Personalized Medicine Market, Sub Segment Analysis
6.4.1. Personalized Medicine Diagnostics
6.4.2. Personalized Medicine Therapeutics
6.4.3. Personalized Medical Care
6.4.4. Personalized Nutrition & Wellness
Chapter 7. Global Personalized Medicine Market, Regional Analysis
7.1. Personalized Medicine Market, Regional Market Snapshot
7.2. North America Personalized Medicine Market
7.2.1. U.S. Personalized Medicine Market Product breakdown estimates & forecasts, 2019-2029
7.2.2. Canada Personalized Medicine Market
7.3. Europe Personalized Medicine Market Snapshot
7.3.1. U.K. Personalized Medicine Market
7.3.2. Germany Personalized Medicine Market
7.3.3. France Personalized Medicine Market
7.3.4. Spain Personalized Medicine Market
7.3.5. Italy Personalized Medicine Market
7.3.6. Rest of Europe Personalized Medicine Market
7.4. Asia-Pacific Personalized Medicine Market Snapshot
7.4.1. China Personalized Medicine Market
7.4.2. India Personalized Medicine Market
7.4.3. Japan Personalized Medicine Market
7.4.4. Australia Personalized Medicine Market
7.4.5. South Korea Personalized Medicine Market
7.4.6. Rest of Asia Pacific Personalized Medicine Market
7.5. Latin America Personalized Medicine Market Snapshot
7.5.1. Brazil Personalized Medicine Market
7.5.2. Mexico Personalized Medicine Market
7.6. Rest of The World Personalized Medicine Market

Chapter 8. Competitive Intelligence
8.1. Top Market Strategies
8.2. Company Profiles
8.2.1. GE Healthcare Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.2.2. Illumina, Inc.
8.2.4. Abbott
8.2.5. Dako A/S
8.2.6. Exact Sciences Corporation
8.2.7. Danaher Corporation (Cepheid, Inc.)
8.2.8. Decode Genetics, Inc.
8.2.9. QIAGEN
8.2.10. Exagen Inc.
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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