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Precision Medicine Market Size

  • Report ID: GMI671
  • Published Date: Jun 2021
  • Report Format: PDF

Precision Medicine Market Size

Precision Medicine Market size exceeded USD 52 billion in 2020 and is expected to grow at a CAGR of over 11.5% from 2021 to 2027. Development of novel drugs and rising demand for drugs in precision medicine treatment plans will accelerate the global market growth. Global AI in precision medicine market is projected to register a CAGR of over 30% in the forecast period.

Advancements in cancer biologics will drive the growth of precision medicine. Development of newer therapeutics approaches including gene therapy for cancer treatment and increasing number of patients undergoing predictive diagnosis will push the market growth. On the other hand, high cost and potential threat to personal health data are some of the factors that may thwart the market expansion. The impact of COVID-19 on industry is observed to be minimal and short term. This impact was mainly due to disruption of supply chain and lockdowns imposed in many countries. However, as the lockdowns were lifted, and supply was restored, the market has recovered quickly. As precision medicine deals majorly with fatal disorders like cancer involving life-saving drugs, the COVID-19 pandemic is poised to have no major impact on the market during the assessment period.


Precision medicine is an emerging way of disease prevention and management. It involves tailored approaches including predictive diagnostic, prevention and treatment strategies for an individual based on their genetic makeup and genetic modifications. Using these approaches, drugs are designed to target specific mutations for better treatment and improved patient outcomes.


Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The market for precision medicine was valued at around USD 52 billion in 2020 and will expand at a healthy CAGR of around 11.6% between 2021-2027.

The therapeutic segment will grow at a robust CAGR of around 10% through 2027 owing to the development of novel drugs and rising demand for drugs in precision medicine treatment plans.

Owing to increasing number of diagnostic centers and developments in diagnostic techniques, the segment is expected to expand at an impressive CAGR of 12% through 2027.

North America precision medicine market revenue was valued at 44% share in 2020 and will grow with the rising prevalence of genetic disorders and cancer.

Precision Medicine Market Scope

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 18
  • Tables & Figures: 244
  • Countries covered: 18
  • Pages: 173
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