Australia Personalized Medicine Market Size & Outlook
Australia personalized medicine market, 2018-2030 (US$M)
Related Markets
Australia personalized medicine market highlights
- The Australia personalized medicine market generated a revenue of USD 8,952.5 million in 2023 and is expected to reach USD 18,842.8 million by 2030.
- The Australia market is expected to grow at a CAGR of 11.2% from 2024 to 2030.
- In terms of segment, personalized nutrition & wellness was the largest revenue generating product in 2023.
- PM Therapeutics is the most lucrative product segment registering the fastest growth during the forecast period.
Personalized medicine market data book summary
| Market revenue in 2023 | USD 8,952.5 million |
| Market revenue in 2030 | USD 18,842.8 million |
| Growth rate | 11.2% (CAGR from 2023 to 2030) |
| Largest segment | Personalized nutrition & wellness |
| Fastest growing segment | PM Therapeutics |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | PM Diagnostics, PM Therapeutics, Personalized Medical Care, Personalized Nutrition & Wellness |
| Key market players worldwide | GE HealthCare Technologies Inc Common Stock, Illumina Inc, Asure Software Inc, Abbott Laboratories, Danaos Corp, Exact Sciences Corp, Danaher Corp, Amgen Inc, Qiagen NV, Exagen Inc Ordinary Shares, Quest Diagnostics Inc, Biogen Inc, Genelux Corp, International Business Machines Corp, Genentech, 23andMe Holding Co Class A |
Other key industry trends
- In terms of revenue, Australia accounted for 1.7% of the global personalized medicine market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China personalized medicine market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 52,685.8 million by 2030.
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Personalized Medicine Market Scope
Personalized Medicine Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia personalized medicine market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to personalized medicine market will help companies and investors design strategic landscapes.
Personalized nutrition & wellness was the largest segment with a revenue share of 33.38% in 2023. Horizon Databook has segmented the Australia personalized medicine market based on pm diagnostics, pm therapeutics, personalized medical care, personalized nutrition & wellness covering the revenue growth of each sub-segment from 2018 to 2030.
Australia’s personalized medicine market is expected to grow significantly due to research collaborations, favorable government initiatives, increased prevalence of target diseases, and advanced healthcare infrastructure.
In January 2022, the Australian government announced an investment of USD 10 million in medical research to identify innovative methods to enhance participation in the country's programs for screening bowel, breast, & cervical cancers. Such developments are expected to boost the personalized medicine market in Australia during the forecast period.
In July 2023, the Precision Oncology Screening Platform Enabling Clinical Trials (PrOSPeCT), an Australian cancer genomics initiative, was launched. The initiative was launched with the partnership of Omico and UNSW's new Centre for Molecular Oncology (CMO).
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Our clientele includes a mix of personalized medicine market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia personalized medicine market , including forecasts for subscribers. This country databook contains high-level insights into Australia personalized medicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia personalized medicine market size, by product, 2018-2030 (US$M)
Australia Personalized Medicine Market Outlook Share, 2023 & 2030 (US$M)
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