U.S. Precision Medicine Market Size & Outlook, 2023-2030
U.S. precision medicine market, 2018-2030 (US$M)
Related Markets
U.S. precision medicine market highlights
- The U.S. precision medicine market generated a revenue of USD 42,776.6 million in 2023 and is expected to reach USD 108,807.2 million by 2030.
- The U.S. market is expected to grow at a CAGR of 14.3% 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 42,776.6 million |
| Market revenue in 2030 | USD 108,807.2 million |
| Growth rate | 14.3% (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, U.S. accounted for 48.9% 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 North America, U.S. precision medicine market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 11,408.5 million by 2030.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Precision Medicine Market Scope
Precision Medicine Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
U.S. 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 85.69% in 2023. Horizon Databook has segmented the U.S. precision medicine market based on diagnostics, therapeutics covering the revenue growth of each sub-segment from 2018 to 2030.
PM has gained significant attention in the U.S., especially following the launch of the nationwide Precision Medicine Initiative (PMI), All of Us, in 2015. PM combines genomic and molecular analyses with established clinical indices to achieve more precise disease classification and potentially more effective prevention & treatment across diverse population groups.
This emerging healthcare approach, embraced by U.S. scientists and policymakers, focuses on disease taxonomy without necessarily implying personalized treatment. According to the Personalized Medicine Coalition (PMC), personalized medicines accounted for over one-third of new U.S. FDA drug approvals for the fourth consecutive year in 2023.
This trend toward personalized treatment approvals is especially notable in the area of rare diseases, where the number of new treatment approvals more than doubled last year. In 2023, the FDA approved 16 new personalized treatments for rare disease patients, up from six in 2022. Moreover, the newly approved personalized treatments for 2023 include seven cancer drugs and three for other diseases & conditions.
Reasons to subscribe to U.S. precision medicine market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of U.S. precision medicine market databook
-
Our clientele includes a mix of precision medicine market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
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 U.S. precision medicine market , including forecasts for subscribers. This country databook contains high-level insights into U.S. precision medicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
U.S. precision medicine diagnostics therapeutics market size, by application, 2018-2030 (US$M)
U.S. Precision Medicine Market Outlook Share, 2023 & 2030 (US$M)
Related industry reports
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
