Precision Medicine Market Size

Precision Medicine Market size was valued at USD 86.6 billion in 2023 and is estimated to reach USD 323.2 billion by the end of 2036, expanding at more than 11.6% CAGR during the forecast period i.e., between 2024-2036. In 2024, the industry size of precision medicine is assessed at USD 101.5 billion.

Precision oncology is the largest segment in the drug development pipeline. It has emerged as a potential clinical strategy in oncology to provide the most accurate and optimal treatment to patients based on their genetic profiles. Owing to the genetic diversity and the rapidly evolving dynamics of genomic profiles, treatment efficacy is possible if cancer therapeutics shift from a generalized approach to a tailored treatment strategy. Precision oncology is the most prominent use case of precision medicine and is expected to tackle various obstacles faced in cancer management, including genomic heterogeneity of tumors, unexplained drug resistances, and lack of appropriate methods for monitoring responses to treatments.