UK Precision Medicine Market Size & Outlook, 2023-2030
UK precision medicine market, 2018-2030 (US$M)
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UK precision medicine market highlights
- The UK precision medicine market generated a revenue of USD 2,749.4 million in 2023 and is expected to reach USD 8,968.9 million by 2030.
- The UK market is expected to grow at a CAGR of 18.4% 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 2,749.4 million |
| Market revenue in 2030 | USD 8,968.9 million |
| Growth rate | 18.4% (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, UK accounted for 3.1% 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 Europe, Germany precision medicine market is projected to lead the regional market in terms of revenue in 2030.
- UK is the fastest growing regional market in Europe and is projected to reach USD 8,968.9 million by 2030.
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Precision Medicine Market Scope
Precision Medicine Market Companies
| Name | Profile | # Employees | HQ | Website |
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UK 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 80.42% in 2023. Horizon Databook has segmented the UK precision medicine market based on diagnostics, therapeutics covering the revenue growth of each sub-segment from 2018 to 2030.
The presence of sophisticated healthcare infrastructure, collaborations between key market players, and launch of novel products are anticipated to contribute to market growth in the UK. Government support & initiatives are expected to further propel the growth of the country’s precision medicine market in the coming years.
For instance, in 2020, the UK government issued GENOME UK: 2020 national genomic healthcare strategy, which focused on the strategies to improve genomics in healthcare and research. Similarly, in December 2018, Genomics plc, a UK-based company, raised funding of USD 40.3 million (EUR 37 million) for developing personalized medicine.
In January 2022, Eagle Genomics, a UK-based company, raised a funding of USD 20 million, which is aimed toward innovation in personalized medicine. In addition, in February 2024, an innovative AI-driven project, NextGen, was launched in the UK and EU to personalize therapies for cardiovascular disease patients.
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Our clientele includes a mix of precision 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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the UK precision medicine market , including forecasts for subscribers. This country databook contains high-level insights into UK precision medicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK precision medicine diagnostics therapeutics market size, by application, 2018-2030 (US$M)
UK Precision Medicine Market Outlook Share, 2023 & 2030 (US$M)
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