Precision Medicine Market Size Booms at 16.35% CAGR, Expected to Reach USD 463.11 Billion by 2034

The precision medicine market size is calculated at USD 118.52 billion in 2025 and is expected to reach around USD 463.11 billion by 2034, growing at a CAGR of 16.35% for the forecasted period.

Ottawa, Oct. 10, 2025 (GLOBE NEWSWIRE) -- The global precision medicine market size was valued at USD 101.86 billion in 2024 and is predicted to hit around USD 463.11 billion by 2034, rising at a 16.35% CAGR, a study published by Towards Healthcare a sister firm of Precedence Research.

The Complete Study is Now Available for Immediate Access | Download the Sample Pages of this Report @ https://www.towardshealthcare.com/download-sample/5821

Key Takeaways

The precision medicine market will likely exceed USD 101.86 billion by 2024.
Valuation is projected to hit USD 463.11 billion by 2034.
Estimated to grow at a CAGR of 16.35% from 2025 to 2034.
North America led the precision medicine market share by 50% in 2024.
Asia-Pacific is expected to be the fastest-growing region during 2025-2034.
By product, the therapeutics (targeted therapy) segment was dominant in the market in 2024.
By product, the data analytics & software segment is expected to witness rapid expansion during the forecast period.
By application, the oncology segment dominated the market in 2024.
By application, the rare genetic diseases segment is expected to grow at the fastest CAGR in the upcoming years.
By technology, the genomics segment registered dominance in the precision medicine market in 2024.
By technology, the pharmacogenomics segment is expected to grow rapidly during 2025-2034.
By end-user, the hospitals & clinics segment held a major share of the market in 2024.
By end-user, the pharmaceutical & biotech companies segment is expected to grow fastest during 2025-2034.

What is the Precision Medicine Market?

The global precision medicine market comprises customized disease treatment and prevention plans for diverse individual genes, environments, and lifestyles. The market is mainly fueled by a rise in chronic disease prevalence, breakthroughs in genetic sequencing, and the integration of Artificial Intelligence (AI) for tailored treatments and data analysis. Nowadays, researchers are focusing on the development of targeted therapies and immunotherapies (e.g., immune checkpoint inhibitors). Although AI assists in the analysis of multi-omics data, medical imaging, and data from wearable devices.

You can place an order or ask any questions, please feel free to contact us at sales@towardshealthcare.com

Market Scope:

Metric	Details
Market Size in 2025	USD 118.52 Billion
Projected Market Size in 2034	USD 463.11 Billion
CAGR (2025 - 2034)	16.35	%
Leading Region	North America Share by 50%
Market Segmentation	By Product & Service, By Application, By Technology, By End User, By Region
Top Key Players	Roche Diagnostics, Illumina, Inc., Thermo Fisher Scientific, QIAGEN N.V., Agilent Technologies, Novartis AG, Pfizer Inc., Merck & Co., Inc., Johnson & Johnson, Bio-Rad Laboratories, Inc., Guardant Health, Adaptive Biotechnologies, Foundation Medicine (Roche), Natera, Inc., Invitae Corporation, Myriad Genetics, 23andMe, Inc., GeneDx (a subsidiary of Invitae), Guardant Health, Genomic Health, Inc.

What are the Major Drivers in the Precision Medicine Market?

The globe is facing a huge rise in geriatric population associated with severe and chronic disease, like heart issues, diabetes, and cancers, which are increasingly fostering innovations in the treatment based on each mutation. Along with this, technological developments, such as genomic testing, accelerate its accessibility in clinical practice, allowing precision treatments. Various governments, private entities, and philanthropic organizations are heavily investing in the precision medicine R&D domain.

What are the Ongoing Trends in the Precision Medicine Market?

Many companies are expanding their facilities around the world, with advancements in approaches, like AI-driven solutions in various R&D areas.

In April 2025, Caris Life Sciences secured $168M for a precision medicine platform.
In April 2025, Okeiro, a company specializing in precision medicine for transplantation and advanced chronic diseases, made a €10 million funding round to boost its deployment in France and internationally.
In March 2025, MSInsight, a pioneering startup in precision medicine, completed a €1.6 million seed funding round led by Calyseed to escalate the development of AI-enabled diagnostic solutions in oncology.

Become a valued research partner with us - https://www.towardshealthcare.com/schedule-meeting

What is the Developing Challenge in the Precision Medicine Market?

The requirement of higher expenditure on advanced technologies, as well as raising data privacy and security issues, and complex regulatory landscapes, is creating a major barrier to market progress. Also, the need for interoperable data platforms, a lack of specialized personnel, and insufficient reimbursement models are emerging as another hurdle to future developments.

How Can AI Affect the Precision Medicine Market?

AI is significantly transforming the market by enabling faster and more accurate analysis of complex genetic, clinical, and lifestyle data. It helps identify disease patterns, predict patient responses to treatments, and accelerate drug discovery. AI-driven tools enhance diagnostic accuracy, personalize therapy selection, and support real-time clinical decision-making. By streamlining workflows and improving predictive capabilities, AI is making precision medicine more efficient, scalable, and accessible, ultimately leading to better patient outcomes and cost-effective healthcare solutions.

AI in Precision Medicine Market Growth

The global Artificial Intelligence (AI) in precision medicine market size is projected to rise from USD 2.74 billion in 2024 to over USD 26.66 billion by 2034, expanding at a CAGR of 25.54% during the forecast period. This growth is driven by the increasing prevalence of cancer and the growing demand for personalized healthcare solutions.

Access the in-depth report for AI in Precision Medicine Market Size, Trends, Growth, Company Profiles and Challenges @ https://www.towardshealthcare.com/checkout/5080

Regional Analysis

What Made North America Dominant in the Market in 2024?

In 2024, North America’s precision medicine market share by 50% accounted for the biggest share. This dominance is led by the increasing technological advances, the presence of a robust government pillar, and the accelerating demand for tailored solutions in the growing burden of chronic disease instances. The US is emphasizing the expansion of Whole-Genome Sequencing (WGS) in concerns other than rare disease, and the widespread adoption of digital technologies, such as smart wearables, and continuous monitoring approaches.

For instance,

In March 2025, Ataraxis AI secured $20.4 million in Series A funding to transform precision medicine in cancer care.

How did the Asia Pacific Grow Notably in the Market in 2024?

In the coming era, the Asia Pacific is predicted to expand at a CAGR in the precision medicine market. India and China are experiencing the expansion of disposable incomes and wider awareness about personalized solutions, which is further enhancing the demand for tailored treatments, especially in an aging population. The emergence of the ASEAN Medical Device Directive and other regional efforts is developing uniform regulatory needs to offer market access and the approval of novel products in precision medicine. Furthermore, China's National Genomics Project and Singapore's National Precision Medicine Programme are assisting the future targeted drug development processes.

For instance,

In September 2025, US-based Metabolon, Inc., a global company providing metabolomics solutions, collaborated with the China Kadoorie Biobank (CKB) to advance precision health.

Download the single region market report @ https://www.towardshealthcare.com/checkout/5821

Precision Medicine Market: US FDA-Approved Treatments in 2025

Treatment	Indication
Zongertinib (Hernexeos) (August 2025)	For adults with unresectable or metastatic non-squamous NSCLC.
Taletrectinib (Ibtrozi) (June 2025)	For locally advanced or metastatic ROS1-positive non-small cell lung cancer (NSCLC).
Fitusiran (Qfitlia) (March 2025)	For preventing or reducing bleeding episodes in hemophilia A or B.
Datopotamab deruxtecan-dlnk (Datroway): (January 2025)	For HR-positive, HER2-negative breast cancer.

Segmental Insights

By product analysis

Which Product Led the Precision Medicine Market in 2024?

The therapeutics (targeted therapy) segment held a major share of the market in 2024. A prominent catalyst is the growing adoption of AI and data analytics in leveraging accuracy, and consistent advances in genomics, biomarker identification, and next-generation sequencing (NGS). PMT5 Inhibitors are a novel class of epigenetic drugs which is efficacious in patients with MTAP loss, with strong effects in pancreatic and lung cancers.

On the other hand, the data analytics & software segment is anticipated to expand rapidly. Primarily, the rising adoption of multi-omics analytics, which are further combined with diverse biological datasets (genomics, proteomics, metabolomics, etc.), facilitates a more comprehensive picture of a patient's health. Current developments include AI-powered predictive models, real-time data management systems for separating clinical and research data, and software, and simplifying drug development.

By application analysis

What Made the Oncology Segment Dominant in the Market in 2024?

In 2024, the oncology segment held the biggest share of the precision medicine market. The broader improvements in genomic profiling, specifically non-invasive techniques, including liquid biopsies, are fostering early cancer detection and identification of target mutations. This era explored different examples, like sotorasib for lung cancer by targeting the KRAS G12C mutation, the application of epigenome editing to restore tumor suppressor genes, and using ADCs (Antibody-Drug Conjugates) to transfer chemotherapy directly to cancer cells.

However, the rare genetic diseases segment is estimated to register the fastest growth during 2025-2034. The growing prevalence is enhancing demand for advanced gene therapies and mRNA therapies, including personalized treatments. Recently developed gene therapy (e.g., Zolgensma for SMA), RNA-based therapies (Spinraza, Evrysdi), CRISPR gene editing (e.g., for sickle cell disease), and small molecule drugs (Trikafta for cystic fibrosis) are supporting the overall market expansion.

Get the latest insights on life science industry segmentation with our Annual Membership: https://www.towardshealthcare.com/get-an-annual-membership

By technology analysis

Which Technology Dominated the Precision Medicine Market in 2024?

The genomics segment captured a dominant share of the market in 2024. The segment is propelled by the COVID-19 pandemic, which leveraged the dominance of genomic surveillance for monitoring evolving pathogens, finding new viral variants, and accelerated investment in genomic technologies for infectious disease management. A surge in Next-Generation Sequencing (NGS) and comprehensive genomic profiling (CGP) is transforming the market by allowing enhanced, accurate diagnosis and customized treatment selection, mainly in oncology.

On the other hand, the pharmacogenomics segment is estimated to witness rapid growth. The U.S. FDA and EMA are promoting the use of pharmacogenomic data in drug discovery and development. The latest approach encompasses large-scale randomized trials that utilize entire pharmacogenomic panel tests for a critical reduction in adverse drug reactions, further addressing milestone steps in personalized medicine. It explored HLA-B tests for Abacavir in HIV, DPD testing for 5-fluorouracil in cancer to mitigate toxicity, and HER2 testing in the detection of breast cancer.

How did the Hospitals & Clinics Segment Dominate the Market in 2024?

The hospitals & clinics segment was dominant in the precision medicine market in 2024. Eventually, governments are widely investing in healthcare infrastructure and bolstering the adoption of advanced technologies, such as AI and data analytics, in clinical settings. Alongside, numerous hospitals are merging in clinical trials to facilitate access to cutting-edge treatments and accelerate the development of new therapies.

Besides this, the pharmaceutical & biotech companies segment will expand rapidly. These companies are putting efforts into fulfilling the expanding demand for advanced therapies, with customization, as well as they are widely involved in robust partnerships with other pharma firms, biotech companies, and academic institutions to boost reach and capabilities. The use of big data analytics and other sophisticated technologies, like AI and ML, in these companies is leveraging innovation in evolving diseases among the increasing population.

Browse More Insights of Towards Healthcare:

The AI in genomics market is poised for remarkable growth, projected to expand at a CAGR of 23.6%, rising from USD 1.67 billion in 2025 to an estimated USD 11.26 billion by 2034. This surge is driven by increasing cross-industry collaborations and a growing emphasis on R&D initiatives.

Meanwhile, the global precision oncology market is set to reach approximately USD 310.75 billion by 2034, up from USD 120.9 billion in 2024, reflecting a steady CAGR of 9.9% over the forecast period.

The non-oncology precision medicine market is also on a robust growth trajectory, expected to increase from USD 91.17 billion in 2025 to USD 193.16 billion by 2034, expanding at a CAGR of 8.7%.

In the NGS-based RNA-sequencing market, revenue is projected to climb from USD 3.74 billion in 2024 to USD 4.49 billion in 2025 and reach around USD 23.52 billion by 2034, reflecting a CAGR of 20.1% between 2025 and 2034.

The precision diagnostics and medicine market has already reached USD 146.88 billion in 2024 and is anticipated to grow to USD 162.88 billion in 2025, ultimately hitting USD 412.95 billion by 2034. This represents a CAGR of 10.89% during the forecast period.

On the U.S. life sciences front, the market is on an upward trajectory, expected to generate significant revenue growth, potentially reaching hundreds of millions over the 2025–2034 period.

The global oncology clinical trial market recorded USD 13.64 billion in 2024, is projected to grow to USD 14.36 billion in 2025, and is expected to reach nearly USD 22.85 billion by 2034, with a CAGR of 5.3%.

The U.S. clinical trial imaging market similarly shows strong momentum, rising from USD 684 million in 2024 to USD 748.09 million in 2025, and projected to hit USD 1.68 billion by 2034, expanding at a CAGR of 9.37%.

The microfluidics market is forecast to grow from USD 40.25 billion in 2025 to USD 116.17 billion by 2034, reflecting a CAGR of 12.5%.

The nanomedicine market is expected to expand from USD 265.88 billion in 2025 to USD 632.09 billion by 2034, achieving a CAGR of 10.1% over the same period.

Latest Developments in the Precision Medicine Market

In September 2025, Closed Loop Medicine Ltd (CLM), a company in personalized pharmaceutical dosing, launched WeDosify, which allows clinicians to personalize GLP-1 titration at scale.
In September 2025, GNQ Insilico (GNQ), a TechBio firm, introduced its deep tech Drug Assessment Platform (DAP) to expand precision medicine and drug development.
In September 2025, Advanced Biomed Inc., a biotechnology company, launched its A+PerfusC^™ system, a compact, all-in-one perfusion 3D cell culture incubator created to replicate human physiological conditions in vitro.
In September 2025, Foundation Medicine, Inc., a precision medicine company, unveiled a tissue-informed whole genome sequencing molecular residual disease (Tissue-informed WGS MRD) test to its portfolio of high-quality testing solutions.

Precision Medicine Market Key Players List

Roche Diagnostics 
Illumina, Inc.
Thermo Fisher Scientific
QIAGEN N.V.
Agilent Technologies
Novartis AG
Pfizer Inc.
Merck & Co., Inc.
Johnson & Johnson
Bio-Rad Laboratories, Inc.
Guardant Health
Adaptive Biotechnologies
Foundation Medicine (Roche)
Natera, Inc.
Invitae Corporation
Myriad Genetics
23andMe, Inc.
GeneDx (a subsidiary of Invitae)
Guardant Health 
Genomic Health, Inc.

Download the Competitive Landscape market report @ https://www.towardshealthcare.com/checkout/5821

Segments Covered in the Report

By Product & Service

Biomarkers 
- Diagnostic Biomarkers 
- Prognostic Biomarkers 
- Predictive Biomarkers 
Therapeutics 
- Targeted Therapy 
- Immunotherapy 
- Gene Therapy 
- Personalized Vaccines 
Sequencing & Genotyping 
- Next-Generation Sequencing (NGS) 
- Polymerase Chain Reaction (PCR) 
- Microarray 
- Sanger Sequencing
Companion Diagnostics 
- In Vitro Diagnostics (IVD) 
- Imaging Diagnostics
Data Analytics & Software
- Bioinformatics Tools 
- Clinical Decision Support Systems (CDSS)
Services 
- Research & Development 
- Clinical Trials
- Consulting & Support Services

By Application

Oncology 
Cardiovascular Diseases 
Neurological Disorders 
Metabolic Disorders (Diabetes, Obesity) 
Rare Genetic Diseases 
Infectious Diseases 
Others (Autoimmune diseases, Respiratory disorders)

By Technology 

Genomics 
Proteomics 
Transcriptomics 
Metabolomics 
Pharmacogenomics 
Epigenomics

By End User

Hospitals & Clinics 
Pharmaceutical & Biotechnology Companies 
Diagnostic Laboratories 
Research Institutes & Academic Centers 
Contract Research Organizations (CROs)

By Region

North America
- U.S.
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- Denmark
- Norway
Latin America
- Brazil
- Mexico
- Argentina
Middle East and Africa (MEA)
- South Africa
- UAE
- Saudi Arabia
- Kuwait

Immediate Delivery Available | Buy This Premium Research @ https://www.towardshealthcare.com/checkout/5821

Access our exclusive, data-rich dashboard dedicated to the healthcare market - built specifically for decision-makers, strategists, and industry leaders. The dashboard features comprehensive statistical data, segment-wise market breakdowns, regional performance shares, detailed company profiles, annual updates, and much more. From market sizing to competitive intelligence, this powerful tool is one-stop solution to your gateway.

Access the Dashboard: https://www.towardshealthcare.com/access-dashboard

About Us

Towards Healthcare is a leading global provider of technological solutions, clinical research services, and advanced analytics, with a strong emphasis on life science research. Dedicated to advancing innovation in the life sciences sector, we build strategic partnerships that generate actionable insights and transformative breakthroughs. As a global strategy consulting firm, we empower life science leaders to gain a competitive edge, drive research excellence, and accelerate sustainable growth.

You can place an order or ask any questions, please feel free to contact us at sales@towardshealthcare.com

Europe Region: +44 778 256 0738

North America Region: +1 8044 4193 44

APAC Region: +91 9356 9282 04

Web: https://www.towardshealthcare.com

Our Trusted Data Partners

Find us on social platforms: LinkedIn | Twitter | Instagram | Medium | Pinterest

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.