Personalized Medicine Market (By Product: Personalized Medicine Diagnostics, Personalized Medicine Therapeutics, Personalized Medical Care, and Personalized Nutrition and Wellness) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022 2030

The global Personalized Medicine market size was estimated at USD 2.13 trillion in 2021 and is expected to surpass around USD 5.8 trillion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 11.9% during the forecast period 2022 to 2030.

Key Takeaways:

  • The personalized nutrition and wellness segment accounted for the largest revenue share in 2021 owing to the growing demand for products of this segment, and less regulatory compliance
  • The expanding pool of operational entities in this segment is expected to boost the sales of personalized nutrition products
  • The therapeutics segment is expected to witness lucrative growth over the forecast period owing to the extensive usage of pharmacogenomics for developing biopharmaceuticals
  • In therapeutics, the genomic medicine segment is expected to witness substantial growth through the forecast period owing to a reduction in costs of whole-genome sequencing
  • North America held the largest revenue share in 2021. The growth of the market in this region is owing to intensive research for the development of new therapies
  • In Asia Pacific, the market is expected to witness the fastest CAGR over the forecast period owing to growing PM startups and favorable government initiatives
  • Companies operating in the market are receiving the U.S. FDA approvals for their personalized medicines. For instance, in February 2021, Biogen Inc. received the U.S. FDA approval for PLEGRIDY (peginterferon beta-1a) for treating patients with relapsing forms of Multiple Sclerosis (MS)

The growth of the market can be primarily attributed to the rising interest in biomarkers identification for therapy, diagnosis, and prognosis for personalized medicine development. Researchers are focusing on the identification and monitoring of different biomarkers that can be later used for developing efficient personalized medicine and pharmacogenomics.

For instance, based on a recent study published in July 2020, researchers are developing a multi-analyte test strip that is used for monitoring even the slightest deviations in the biomarker profile. The technology will combine big-data analysis along with advanced technologies such as wearables for ensuring continuous precise data acquisition. Hence, such advancements in biomarker analysis will promote the development of personalized medicines.

In addition, the growing number of companion diagnostics can be further attributed to the market growth. Companion diagnostic tests (CDx) are designed for determining whether a patient is a viable candidate for a specific treatment and/or is responding to the treatment. Precision medicines are specific treatments based on environment, patient’s unique biological makeup, and lifestyle hence, companion diagnostics play an essential role in developing successful precision medicine.

Companies are focusing on launching new companion diagnostics for different cancers. For instance, in October 2020, Roche received U.S. FDA authorization for expanded claims of the cobas EGFR Mutation Test v2 as a (CDx) for the treatment of non-small cell lung cancer (NSCLC). Hence, the approval of such a new and innovative approach by the FDA can pave the way for identifying patients for personalized medicine.

Moreover, the ongoing situation of the COVID-19 pandemic has propelled the demand for personalized medicine (PM) approaches, particularly in researcher applications. These approaches are useful in understanding variations in an individual’s susceptibility and immune response against COVID-19. For instance, based on a study conducted in 2020 has indicated that COVID-19 infections are linked with gene variants on chromosome 9 (9q34.2), 1 ApoE e4 genotype, 2, chromosome 3 (3p21.31), and loss of variants present on X-chromosomal TLR7.3.

The application of personalized solutions has the scope in developing specific treatment solutions for different patients based on the specific immunophenotype of the patient. Hence, PM approaches hold a promising solution for identifying genetic, biological, and environmental variables that could affect the vaccine response and also suggest the alternative dosage required by a certain population group.

Report Scope of the Personalized Medicine Market

Report Coverage


Market Size

US$ 5.8 trillion by 2030

Growth Rate

CAGR of 11.9% from 2022 to 2030

Largest Market

North America

Fastest Growing Market

Asia Pacific

Base Year


Forecast Period

2022 to 2030

Segments Covered

 Product, Application, End Use and Region,

Companies Mentioned

 Illumina Inc., Precision Biologics, Danaher Corporation, GE Healthcare, Celera Diagnostics LLC, Decode Genetics Inc., Exact Sciences Corporation, IBM Corporation, Exagen Inc., Biogen


Product Insights

The personalized nutrition and wellness segment dominated the market and accounted for the largest revenue share of 61.8% in 2021. The growth in the segment is owing to high usage rates and market penetration. In addition, the high over the counter nature of the sale of these products further enhance the availability of these products to the consumers and reduces regulatory implications from them as well. Making them relatively more easily accessible to the consumer.

Moreover, companies are launching new personalized nutrition products, thereby driving the segment growth. For instance, in April 2020, Nestlé launched nesQino, a personalized healthy superfood drink made from natural ingredients. The new product is a customizable drink made from ingredients such as vegetables, fruits, nuts, microalgae, and seeds.

The personalized medicine therapeutics segment is expected to witness a lucrative growth rate over the forecast period. The increasing development of genomic medicines and biopharmaceuticals based on specific sequencing data can be primarily attributed to the segment growth. In addition, the development of high-capacity advanced sequencing platforms will reduce the cost of genome sequencing, hence, facilitating the development of personalized medicines.

Regional Insights

North America dominated the personalized medicine market and accounted for the largest revenue share of 49.6% in 2021. The region is expected to continue its dominance during the forecast period. This growth can be attributed to the high adoption rate of healthcare IT systems in clinical workflows and next-generation sequencing technologies, which help generate personalized and pharmacogenomic data easily and efficiently.

In addition, the rising approval granted to personalized medicine companies for their novel therapeutics can be further attributed to the market growth in the region. Based on the 2020 Scope and Significance of Progress report, personalized medicines accounted for around 39 percent of the total FDA-approved new drugs in the year. For instance, in January 2020, the U.S. FDA approved avapritinib for treating patients with unresectable or metastatic Gastrointestinal Stromal Tumor (GIST). It is the first therapy approved for patients with GIST having PDGFRA exon 18 mutation.

In Asia Pacific, the market is expected to grow fast over the forecast period. This is primarily owing to the low cost associated with conducting clinical trials of newly developed precision medicines and diagnostics in this region, which attracts foreign investments in this region.

In addition, favorable government initiatives to adopt personalized healthcare solutions are further contributing to market growth in the region. For instance, in Singapore, the National Precision Medicine program and the Three Beyonds program were launched for promoting the uptake of new technologies and digital infrastructure for supporting personalized healthcare.

Key Companies & Market Share Insights

The growing number of personalized medicine coalitions between companies and organizations is promoting the development of new therapeutic solutions. For instance, in February 2021, Illumina, Inc. signed an agreement with the Belgian Society of Medical Oncology (BSMO) for a national-level pilot program aimed at evaluating Comprehensive Genomic Profiling (CGP) in advanced metastatic cancer patients.

The company provided NextSeq and NovaSeq 6000 sequencing platforms for analyzing genes and biomarkers. Hence, such endeavors will promote the development of effective novel therapies. Additionally, entities are initiating strong partnerships to gain a competitive edge. One such example is Tempus, a technology company that has initiated data partnerships with prominent oncology centers in the U.S., working towards personalizing oncology care. Some of the prominent players in the personalized medicine market include:

  • Illumina, Inc.
  • GE Healthcare
  • Danaher Corporation (Cepheid, Inc.)
  • Abbott
  • Exact Sciences Corporation
  • Biogen
  • Dako A/S
  • Exagen Inc.
  • Precision Biologics
  • Celera Diagnostics LLC
  • Decode Genetics, Inc.
  • Genelex
  • IBM
  • Genentech, Inc.
  • 23andME, Inc.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Personalized Medicine market

By Product

  • Personalized Medicine Diagnostics
    • Genetic Testing
    • DTC Diagnostics
    • Esoteric Lab Services
    • Esoteric Lab Tests
  • Personalized Medicine Therapeutics
    • Pharmaceutical
    • Genomic Medicine
    • Medical Devices
  • Personalized Medical Care
    • Telemedicine
    • Health Information Technology
  • Personalized Nutrition and Wellness
    • Retail Nutrition
    • Complementary & Alternative Medicine

By Application

  • Oncology
  • CNS
  • Immunology
  • Respiratory
  • Others

By End-use

  • Hospitals
  • Diagnostic Centers
  • Research & Academic Institutes
  • Others

By Geography

North America

  • U.S.
  • Canada


  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Key Points Covered in Personalized Medicine Market Study:

  • Growth of Personalized Medicine in 2022
  • Market Estimates and Forecasts (2017-2030)
  •  Brand Share and Market Share Analysis
  •  Key Drivers and Restraints Shaping Market Growth
  •  Segment-wise, Country-wise, and Region-wise Analysis
  •  Competition Mapping and Benchmarking
  •  Recommendation on Key Winning Strategies
  •  COVID-19 Impact on Demand for Personalized Medicine and How to Navigate
  •  Key Product Innovations and Regulatory Climate
  •  Personalized Medicine Consumption Analysis
  •  Personalized Medicine Production Analysis
  •  Personalized Medicine and Management

Report Detail

  • Report Code:6824
  • No. of Pages:150+
  • Format:PDF/PPT/Excel

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