Precision Medicine Market Growth, Trends, and Forecast by 2031

Historic Data: 2021-2023 | Base Year: 2024 | Forecast Period: 2025-2031

Coverage: Precision Medicine Market covers analysis By Technology (Drug Discovery, Companion Diagnostics, Gene Sequencing, Bio-Informatics, Big Data Analytics); Application (Oncology, Respiratory, CNS, Infectious Diseases, Immunology, Cardiology, Other Applications) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

Report Date : Mar 2026
Report Code : TIPBT00002184

Category : Life Sciences
Status : Upcoming

Available Report Formats :
No. of Pages : 150

Also Available in :

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Page Updated: Jan 2025

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

The Precision Medicine Market size is expected to reach US$ 271.17 billion by 2031. The market is anticipated to register a CAGR of 12.8% during 2025-2031.

The Precision Medicine Market is categorized by technology into the following subsegments: Drug Discovery, Companion Diagnostics, Gene Sequencing, Bio-Informatics, Big Data Analytics. It further presents an analysis based on application, i.e., Oncology, Respiratory, CNS, Infectious Diseases, Immunology, Cardiology, Other Applications. The global analysis is broken down at the regional level and major countries. The market evaluation is presented in US$ for the above segmental analysis.

Purpose of the Report

The report Precision Medicine Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:

Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.

Precision Medicine Market Segmentation Technology

Drug Discovery
Companion Diagnostics
Gene Sequencing
Bio-Informatics
Big Data Analytics

Application

Oncology
Respiratory
CNS
Infectious Diseases
Immunology
Cardiology
Other Applications

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Precision Medicine Market: Strategic Insights

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Precision Medicine Market Growth Drivers

Genomic and Molecular Biology: Genomic and molecular biology are the engines for precision medicine. The sequencing and interpretation of genetic material led to personalised treatments in which therapies are individualised by genetic code, lifestyle and environment. A rising consciousness of the human genome is opening up new therapeutic applications for precision medicine in oncology, rare diseases and chronic disease.
The Growth of Chronic Diseases and Cancer: Growing chronic diseases such as cancer, cardiovascular disease, diabetes and so on are driving the precision medicine. The more patients who want to be treated based on their own genetic characteristics, the more needed personalized treatments and genetic tests that could lead to better patient outcomes.

Broad Regulatory Approval: Governments like FDA and EMA have gotten more open to precision medicine, allowing targeted treatments and companion diagnostics to allow for tailor-made treatment plans. Not only do these regulatory approvals fuel precision medicineReport Scope

Precision Medicine Market Regional Insights

The regional trends and factors influencing the Precision Medicine Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Precision Medicine Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Precision Medicine Market Report Scope

By Application

Oncology
Respiratory
CNS
Infectious Diseases
Immunology
Cardiology
Other Applications

Europe

UK
Germany
France
Russia
Italy
Rest of Europe

Asia-Pacific

China
India
Japan
Australia
Rest of Asia-Pacific

South and Central America

Brazil
Argentina
Rest of South and Central America

Middle East and Africa

South Africa
Saudi Arabia
UAE
Rest of Middle East and Africa

Report Attribute	Details
Market size in 2024	US$ XX Billion
Market Size by 2031	US$ 271.17 billion
Global CAGR (2025 - 2031)	12.8%
Historical Data	2021-2023
Forecast period	2025-2031
Segments Covered	By Technology Drug Discovery Companion Diagnostics Gene Sequencing Bio-Informatics Big Data Analytics
Regions and Countries Covered	North America US Canada Mexico
Market leaders and key company profiles	F. Hoffmann-La Roche Ltd Quest Diagnostics Incorporated Novartis AG Bristol-Myers Squibb Company Medtronic QIAGEN Pfizer Inc. Thermo Fisher Scientific Inc. Eli Lilly and Company

Precision Medicine Market Players Density: Understanding Its Impact on Business Dynamics

The Precision Medicine Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Get the Precision Medicine Market top key players overview

Frequently Asked Questions

What are the options available for the customization of this report?

Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.

What are the deliverable formats of the Precision Medicine Market?

The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.

Which are leading players in Precision Medicine Market?

The leading players are F. Hoffmann-La Roche Ltd, Quest Diagnostics Incorporated, Novartis AG, Bristol-Myers Squibb Company, Medtronic, QIAGEN, Pfizer Inc., Thermo Fisher Scientific Inc., Eli Lilly and Company, AstraZeneca,

What is the expected CAGR in Precision Medicine Market?

The market is expected to register a CAGR of 12.8% during 2025-2031.

What are driving factors impacting the Precision Medicine Market?

Rapidly rising healthcare expenditure, advancement in genetic testing, migration towards personalized treatments, and integration of big data and AI in healthcare are the prime growth factors for Precision Medicine Market.

What are the future trends of Precision Medicine Market?

Future trends include increased use of genomic data in developing tailored treatments, expansion of personalized cancer therapies, and increased integration of AI and machine learning in drug development.

Research Manager

Mrinal Kerhalkar

Manager,
Market Research & Consulting

Mrinal is a seasoned research analyst with over 8 years of experience in Life Sciences Market Intelligence and Consulting. With a strategic mindset and unwavering commitment to excellence, she has built deep expertise in pharmaceutical forecasting, market opportunity assessment, and developing industry benchmarks. Her work is anchored in delivering actionable insights that empower clients to make informed strategic decisions.

Mrinal’s core strength lies in translating complex quantitative datasets into meaningful business intelligence. Her analytical acumen is instrumental in shaping go-to-market (GTM) strategies and uncovering growth opportunities across the pharmaceutical and medical device sectors. As a trusted consultant, she consistently focuses on streamlining workflow processes and establishing best practices, thereby driving innovation and operational efficiency for her clients.

What are the Precision Medicine Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Global, Regional, Country
Industry and Competitive Landscape
Excel Dataset

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