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Precision Medicine Market Size
- Report ID: GMI671
- Published Date: Apr 2024
- Report Format: PDF
Precision Medicine Market Size
Precision Medicine Market size accounted for around USD 79.9 billion revenue size in 2023 and is projected to witness significant growth at 7.6% CAGR between 2024 to 2032. One of the primary drivers is the increasing prevalence of chronic diseases, such as cancer, cardiovascular diseases, and diabetes. These conditions require tailored treatments, and precision medicine offers personalized approaches based on individual genetic, environmental, and lifestyle factors.
Further, advancements in genomics and molecular biology have also accelerated the growth of precision medicine by enabling more precise and cost-effective genetic testing. Moreover, government initiatives and funding support have also played a significant role in driving the expansion of the precision medicine market.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Precision Medicine Market Size in 2023: | USD 79.9 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 7.6% |
| 2032 Value Projection: | USD 157.1 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 234 |
| Tables, Charts & Figures: | 407 |
| Segments covered: | Application, Indication, Technology, End-user, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Precision medicine, also known as personalized medicine or individualized medicine, is an approach to healthcare that takes into account individual differences in genes, environment, and lifestyle when designing medical treatment plans and interventions. Rather than applying a one-size-fits-all approach, precision medicine aims to tailor medical decisions and treatments to the specific characteristics of each patient.
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Precision Medicine Market Scope
