South Africa Precision Medicine Market Size & Outlook
South Africa precision medicine market, 2018-2030 (US$M)
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South Africa precision medicine market highlights
- The South Africa precision medicine market generated a revenue of USD 653.9 million in 2023 and is expected to reach USD 1,188.1 million by 2030.
- The South Africa 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 653.9 million |
| Market revenue in 2030 | USD 1,188.1 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, South Africa accounted for 0.7% 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 |
|---|
South Africa 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 85.36% in 2023. Horizon Databook has segmented the South Africa 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, Mediclinic 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.
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Our clientele includes a mix of precision medicine market companies, investment firms, advisory firms & academic institutions.
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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 South Africa precision medicine market , including forecasts for subscribers. This country databook contains high-level insights into South Africa precision medicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
South Africa precision medicine diagnostics therapeutics market size, by application, 2018-2030 (US$M)
South Africa Precision Medicine Market Outlook Share, 2023 & 2030 (US$M)
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