by The U.S. precision medicine market size was valued at USD 24.84 billion in 2023 and is expected to hit around USD 75.44 billion by 2033, growing at a CAGR of 11.80% from 2024 to 2033.
Key Takeaways
- By technology, the drug discovery segment held the dominating share of the market in 2023.
- By application, the oncology segment dominated the U.S. precision medicine market in 2023.
- By end-use, the pharmaceutical company segment held the largest share of the market in 2023.
- By sequencing technology, the single molecule real-time sequencing segment is expected to dominate the market over the forecast period.
- By product, the consumables segment held the largest share of the market in 2023.
- By route of administration, the oral segment held the largest share of the market in 2023.
- By drugs, the Mepolizumab segment is observed to witness significant growth during the forecast period
The U.S. precision medicine market is experiencing significant growth driven by advancements in technology, increasing prevalence of chronic diseases, and growing demand for personalized healthcare solutions. Precision medicine, which involves tailoring medical treatment to the individual characteristics of each patient, has gained traction due to its potential to improve treatment outcomes and reduce healthcare costs.
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Growth Factors:
Several factors are fueling the growth of the U.S. precision medicine market. Firstly, rapid advancements in genomics, bioinformatics, and data analytics have enabled healthcare providers to better understand the molecular basis of diseases and develop targeted therapies. Additionally, increasing collaborations between pharmaceutical companies, research institutions, and healthcare providers are facilitating the development and commercialization of precision medicine products and services. Furthermore, government initiatives and funding support for precision medicine research are driving innovation and adoption in the healthcare industry.
U.S. Precision Medicine Market Scope
| Report Coverage | Details |
| Growth Rate from 2024 to 2033 | CAGR of 11.80% |
| U.S. Market Size in 2023 | USD 24.84 Billion |
| U.S. Market Size by 2033 | USD 75.44 Billion |
| Base Year | 2024 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | By Technology, By Application, By End-Use, By Sequencing Technology, By Product, By Route of Administration, and By Drugs |
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Opportunities
The U.S. precision medicine market presents numerous opportunities for stakeholders across the healthcare ecosystem. Healthcare providers can leverage precision medicine to deliver more effective and personalized treatments, thereby improving patient outcomes and satisfaction. Pharmaceutical companies have the opportunity to develop and commercialize innovative precision medicine therapies, tapping into new revenue streams and gaining a competitive edge in the market. Furthermore, the integration of artificial intelligence and machine learning technologies in precision medicine offers opportunities for the development of predictive models and decision support tools to enhance clinical decision-making and patient care.
Challenges
Despite its promising prospects, the U.S. precision medicine market also faces several challenges. One of the key challenges is the high cost associated with precision medicine technologies and treatments, which may limit accessibility for certain patient populations. Additionally, regulatory and reimbursement hurdles pose challenges for the commercialization and adoption of precision medicine products and services. Moreover, concerns related to data privacy, security, and interoperability need to be addressed to ensure the effective implementation of precision medicine solutions while safeguarding patient confidentiality and data integrity.
Reasons to Purchase this Report:
- Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
- In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
- Market size in USD million and volume in million units provided for each segment and sub-segment.
- Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
- Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.
U.S. Precision Medicine Market Players
- Biocrates Life Sciences
- Quest Diagnostics
- NanoString Technologies
- Pfizer
- AbbVie Inc.
- AstraZeneca
- Johnson & Johnson Services, Inc
- Thermo Fisher Scientific, Inc.
- Illumina, Inc.
- ARIEL Precision Medicine, Inc.
Segments Covered in the Report
By Technology
- Bioinformatics
- Big Data Analytics
- Drug Discovery
- Gene Sequencing
- Companion Diagnostics
- Others
By Application
- CNS
- Immunology
- Oncology
- Respiratory
- Others
By End-Use
- Diagnostic Companies
- Pharmaceutical Companies
- Healthcare IT companies
- Others
By Sequencing Technology
- Sequencing by Synthesis
- Ion Semiconductor Sequencing
- Sequencing by Ligation
- Pyrosequencing
- Single Molecule Real Time Sequencing
- Chain Termination Sequencing
- Nanopore Sequencing
By Product
- Consumables
- Instruments
- Services
By Route of Administration
- Oral
- Injectable
By Drugs
- Alectinib
- Osimertinib
- Mepolizumab
- Aripiprazole Lauroxil
- Others
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global U.S. Precision Medicine Market, By Technology
7.1. U.S. Precision Medicine Market Revenue and Volume, by Technology, 2024-2033
7.1.1. Bioinformatics
7.1.1.1. Market Revenue and Volume Forecast (2021-2033)
7.1.2. Big Data Analytics
7.1.2.1. Market Revenue and Volume Forecast (2021-2033)
7.1.3. Drug Discovery
7.1.3.1. Market Revenue and Volume Forecast (2021-2033)
7.1.4. Gene Sequencing
7.1.4.1. Market Revenue and Volume Forecast (2021-2033)
7.1.5. Companion Diagnostics
7.1.6.1. Market Revenue and Volume Forecast (2021-2033)
7.1.6. Others
7.1.5.1. Market Revenue and Volume Forecast (2021-2033)
Chapter 8. Global U.S. Precision Medicine Market, By Application
8.1. U.S. Precision Medicine Market Revenue and Volume, by Application, 2024-2033
8.1.1. CNS
8.1.1.1. Market Revenue and Volume Forecast (2021-2033)
8.1.2. Immunology
8.1.2.1. Market Revenue and Volume Forecast (2021-2033)
8.1.3. Oncology
8.1.3.1. Market Revenue and Volume Forecast (2021-2033)
8.1.4. Respiratory
8.1.4.1. Market Revenue and Volume Forecast (2021-2033)
8.1.5. Others
8.1.5.1. Market Revenue and Volume Forecast (2021-2033)
Chapter 9. Global U.S. Precision Medicine Market, By End-Use
9.1. U.S. Precision Medicine Market Revenue and Volume, by End-Use, 2024-2033
9.1.1. Diagnostic Companies
9.1.1.1. Market Revenue and Volume Forecast (2021-2033)
9.1.2. Pharmaceutical Companies
9.1.2.1. Market Revenue and Volume Forecast (2021-2033)
9.1.3. Healthcare IT companies
9.1.3.1. Market Revenue and Volume Forecast (2021-2033)
9.1.4. Others
9.1.4.1. Market Revenue and Volume Forecast (2021-2033)
Chapter 10. Global U.S. Precision Medicine Market, By Sequencing Technology
10.1. U.S. Precision Medicine Market Revenue and Volume, by Sequencing Technology, 2024-2033
10.1.1. Sequencing by Synthesis
10.1.1.1. Market Revenue and Volume Forecast (2021-2033)
10.1.2. Ion Semiconductor Sequencing
10.1.2.1. Market Revenue and Volume Forecast (2021-2033)
10.1.3. Sequencing by Ligation
10.1.3.1. Market Revenue and Volume Forecast (2021-2033)
10.1.4. Pyrosequencing
10.1.4.1. Market Revenue and Volume Forecast (2021-2033)
10.1.5. Single Molecule Real Time Sequencing
10.1.5.1. Market Revenue and Volume Forecast (2021-2033)
10.1.6. Chain Termination Sequencing
10.1.6.1. Market Revenue and Volume Forecast (2021-2033)
10.1.7. Nanopore Sequencing
10.1.7.1. Market Revenue and Volume Forecast (2021-2033)
Chapter 11. Global U.S. Precision Medicine Market, By Product
11.1. U.S. Precision Medicine Market Revenue and Volume, by Product, 2024-2033
11.1.1. Consumables
11.1.1.1. Market Revenue and Volume Forecast (2021-2033)
11.1.2. Instruments
11.1.2.1. Market Revenue and Volume Forecast (2021-2033)
11.1.3. Services
11.1.3.1. Market Revenue and Volume Forecast (2021-2033)
Chapter 12. Global U.S. Precision Medicine Market, By Route of Administration
12.1. U.S. Precision Medicine Market Revenue and Volume, by Route of Administration, 2024-2033
12.1.1. Oral
12.1.1.1. Market Revenue and Volume Forecast (2021-2033)
12.1.2. Injectable
12.1.2.1. Market Revenue and Volume Forecast (2021-2033)
Chapter 13. Global U.S. Precision Medicine Market, By Drugs
13.1. U.S. Precision Medicine Market Revenue and Volume, by Drugs, 2024-2033
13.1.1. Alectinib
13.1.1.1. Market Revenue and Volume Forecast (2021-2033)
13.1.2. Osimertinib
13.1.2.1. Market Revenue and Volume Forecast (2021-2033)
13.1.3. Mepolizumab
13.1.3.1. Market Revenue and Volume Forecast (2021-2033)
13.1.4. Aripiprazole Lauroxil
13.1.4.1. Market Revenue and Volume Forecast (2021-2033)
13.1.5. Others
13.1.5.1. Market Revenue and Volume Forecast (2021-2033)
Chapter 14. Global U.S. Precision Medicine Market, Regional Estimates and Trend Forecast
14.1. U.S.
14.1.1. Market Revenue and Volume Forecast, by Technology (2021-2033)
14.1.2. Market Revenue and Volume Forecast, by Application (2021-2033)
14.1.3. Market Revenue and Volume Forecast, by End-Use (2021-2033)
14.1.4. Market Revenue and Volume Forecast, by Sequencing Technology (2021-2033)
14.1.5. Market Revenue and Volume Forecast, by Product (2021-2033)
14.1.6. Market Revenue and Volume Forecast, by Drugs (2021-2033)
14.1.7. Market Revenue and Volume Forecast, by Route of Administration (2021-2033)
Chapter 15. Company Profiles
15.1. Biocrates Life Sciences
15.1.1. Company Overview
15.1.2. Product Offerings
15.1.3. Financial Performance
15.1.4. Recent Initiatives
15.2. Quest Diagnostics
15.2.1. Company Overview
15.2.2. Product Offerings
15.2.3. Financial Performance
15.2.4. Recent Initiatives
15.3. NanoString Technologies
15.3.1. Company Overview
15.3.2. Product Offerings
15.3.3. Financial Performance
15.3.4. Recent Initiatives
15.4. Pfizer
15.4.1. Company Overview
15.4.2. Product Offerings
15.4.3. Financial Performance
15.4.4. Recent Initiatives
15.5. AbbVie Inc.
15.5.1. Company Overview
15.5.2. Product Offerings
15.5.3. Financial Performance
15.5.4. Recent Initiatives
15.6. AstraZeneca
15.6.1. Company Overview
15.6.2. Product Offerings
15.6.3. Financial Performance
15.6.4. Recent Initiatives
15.7. Johnson & Johnson Services, Inc
15.7.1. Company Overview
15.7.2. Product Offerings
15.7.3. Financial Performance
15.7.4. Recent Initiatives
15.8. Thermo Fisher Scientific, Inc.
15.8.1. Company Overview
15.8.2. Product Offerings
15.8.3. Financial Performance
15.8.4. Recent Initiatives
15.9. Illumina, Inc.
15.9.1. Company Overview
15.9.2. Product Offerings
15.9.3. Financial Performance
15.9.4. Recent Initiatives
15.10. ARIEL Precision Medicine, Inc.
15.10.1. Company Overview
15.10.2. Product Offerings
15.10.3. Financial Performance
15.10.4. Recent Initiatives
Chapter 16. Research Methodology
16.1. Primary Research
16.2. Secondary Research
16.3. Assumptions
Chapter 17. Appendix
17.1. About Us
17.2. Glossary of Terms
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