Precision Medicine Market Size & Share, Forecast 2032

1. The global precision medicine market is projected to grow from $191.31 billion in 2024 to $207.80 billion by 2032, with a compound annual growth rate (CAGR) of 10.8%. North America dominates with a 50.91% market share as of 2023. Key segments include:  Products: Devices, drugs, and software, with devices holding the largest share in 2023  Applications: Oncology leads the market, followed by neurology/psychiatry, immunology, and cardiology  End Users: Hospitals, diagnostic centers, and pharmaceutical companies Major market drivers:  Rising prevalence of chronic diseases  Increased investment in genomics research  Growing adoption of AI and machine learning in healthcare  Government support for precision medicine initiatives Recent developments highlight industry momentum:  In December 2023, FDA approved two new treatment options (Casgevy and Lyfgenia) for sickle cell disease using novel genome editing technology  In October 2023, 23andMe reported a data breach affecting approximately 14,000 individuals, highlighting privacy concerns in precision medicine  Launch of new diagnostic tools, such as Waters Corporation's XBridge Premier GTX columns in 20231  Strategic partnerships, like Rymedi and Precision Genetics' collaboration in 2024 for personalized post-surgery care The COVID-19 pandemic positively impacted market growth by increasing demand for individualized treatment strategies and accelerating investment in genomics research. Report- Fortune Business Insights - Precision Medicine Market Size, Share, Growth Report, 2032 https://www.fortunebusinessinsights.com/precision-medicine-market-110463