Saudi Arabia Precision Medicine Market Size & Outlook
Saudi Arabia precision medicine market, 2018-2030 (US$M)
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Saudi Arabia precision medicine market highlights
- The Saudi Arabia precision medicine market generated a revenue of USD 526.5 million in 2023 and is expected to reach USD 956.8 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 8.9% from 2024 to 2030.
- In terms of segment, therapeutics was the largest revenue generating application in 2023.
- Diagnostics is the most lucrative application segment registering the fastest growth during the forecast period.
Precision medicine market data book summary
| Market revenue in 2023 | USD 526.5 million |
| Market revenue in 2030 | USD 956.8 million |
| Growth rate | 8.9% (CAGR from 2023 to 2030) |
| Largest segment | Therapeutics |
| Fastest growing segment | Diagnostics |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Diagnostics, Therapeutics |
| Key market players worldwide | Roche, Siemens Healthineers AG ADR, Janssen Pharmaceuticals, Illumina Inc, Quest Diagnostics Inc, 23andMe Holding Co Class A, NeoDiagnostix, International Business Machines Corp, Myriad Genetics Inc, Medtronic PLC, GE HealthCare Technologies Inc Common Stock, Abbott Laboratories, Dakota Software, Biogen Inc, Qiagen NV, ImmunityBio Inc Ordinary Shares |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 0.6% of the global precision medicine market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, South Africa precision medicine market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 1,188.1 million by 2030.
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Precision Medicine Market Scope
Precision Medicine Market Companies
| Name | Profile | # Employees | HQ | Website |
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Saudi Arabia precision 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 precision medicine market will help companies and investors design strategic landscapes.
Therapeutics was the largest segment with a revenue share of 85.53% in 2023. Horizon Databook has segmented the Saudi Arabia precision medicine market based on diagnostics, therapeutics covering the revenue growth of each sub-segment from 2018 to 2030.
South Africa’s precision medicine market has benefitted from the recent establishment of the African Genomics Centre in Cape Town. The South African Medical Research Council (SAMRC) in partnership with Beijing Genomics Institute (BGI) announced the establishment of this genomic center in February 2018.
This center was the first facility in the African region that is capable of performing large-scale studies on WGS. This approach harnessed the science of genomics for precision medicine, thus driving the market. In addition, the companies in South Africa are emphasizing investing substantial amounts to extend and consolidate their presence in precision medicine market.
For instance, in February 2023, Med clinic Southern Africa acquired an 80% stake in Artisan Biomed, a subsidiary of the Centre for Proteomic & Genomic Research (CPGR), to expand its presence in South Africa's precision medicine market. Most of the therapeutics are developed outside South Africa and therefore some of the medicines seem less effective, especially in case of lifestyle diseases, including cancer and cardiovascular diseases.
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Our clientele includes a mix of precision medicine market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia precision medicine market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia precision medicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia precision medicine diagnostics therapeutics market size, by application, 2018-2030 (US$M)
Saudi Arabia Precision Medicine Market Outlook Share, 2023 & 2030 (US$M)
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