According to a new report published by Allied Market Research, titled, "Personalized Cancer Medicine Market," The personalized cancer medicine market was valued at $179.99 billion in 2022, and is estimated to reach $507.2 billion by 2032, growing at a CAGR of 10.9% from 2023 to 2032.

The personalized cancer medicine market growth is being driven by several key factors such as the increase in prevalence of cancer, resulting in a greater demand for effective treatment options. Precision medicine has emerged as a promising approach for treating cancer, thus driving its adoption and growth. In addition, the aging population is another factor that drives the demand for precision medicine. The geriatric population is more prone to developing cancer, creating a larger pool of potential patients. Furthermore, advances in biotechnology and genetic engineering have made it possible to develop more targeted and personalized cancer therapies, which are likely to drive the market growth. In addition, personalized medicines have shown promising results in clinical trials, leading to increased investment in research and development activities.
Moreover, the rise in key strategies adopted by the key market players such as product launch, agreement, and collaborations further drive the growth of the market during the forecast period. For instance, on February 2021, Qiagen and Inovio Pharmaceuticals, a biotechnology company announced an extension of their partnership with a new master collaboration agreement to develop liquid biopsy-based companion diagnostic products based on next-generation sequencing (NGS) technology to complement INOVIO's therapies.
Furthermore, a rise in approvals from regulatory organizations further provides opportunity for market growth. For instance, on October 2021, F. Hoffmann-La Roche AG , a global pioneer in pharmaceuticals and diagnostics, received U.S. Food and Drug Administration (FDA) approval of the VENTANA PD-L1 (SP263) Assay in non- small cell lung cancer (NSCLC) as a companion diagnostic test for Tecentriq, advancing the company's commitment to guide clinical decision making through innovative, high quality assays that improve patient access to personalized healthcare. Thus, the adoption of such strategies by key manufacturers can potentially increase the demand and adoption of personalized medicine arena and provide lucrative opportunity to market growth.
However, the high cost of personalized medicines hinders the growth of the personalized medicine market. High cost of diagnosis and treatment makes it inaccessible for the patients with poor financial conditions and restrains the market in developing regions. Furthermore, many patients are unaware about the concept of personalized medicines, which acts as a restrain to the market. On the other hand, government and non-government organizations create awareness about the advanced healthcare options among the population, which may increase the adoption of personalized cancer medicines, thus, driving the market expansion during the forecast period.
The personalized cancer medicine market is segmented into product, end user, and region. By product, the market is categorized into personalized medicine diagnostics and personalized medicine therapeutics. By end user, the market is bifurcated into hospitals & clinics and others. Region wise, the market is analyzed across North America (the U.S., Canada), Europe (Germany, France, the UK, and rest of Europe), Asia-Pacific (Japan, China and rest of Asia-Pacific), and LAMEA (Latin America, Middle East & Africa).
Major key players that operate in the global personalized cancer medicine market are Abbott Laboratories, ARIEL Precision Medicine, Inc., F. Hoffmann-La Roche Ltd., GE Healthcare, Inc, Aadi Bioscience, Inc., Illumina, Inc., Qiagen, Novartis AG, Thermo Fisher Scientific Inc., Bristol-Myers Squibb Company. The key players operating in the market have adopted product approval, agreement, partnership, product launch, and collaboration as their key strategies to expand their product portfolio.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the personalized cancer medicine market analysis from 2022 to 2032 to identify the prevailing personalized cancer medicine market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the personalized cancer medicine market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global personalized cancer medicine market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product
- Personalized Medicine Diagnostics
- Personalized Medicine Therapeutics
By End User
- Hospitals and clinics
- Others
By Region
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East And Africa
Key Market Players:
- Aadi Bioscience, Inc.
- Abbott Laboratories
- ARIEL Precision Medicine, Inc.
- Bristol-Myers Squibb Company
- F. Hoffmann-La Roche Ltd.
- General Electric
- Illumina, Inc.
- Novartis AG
- Qiagen NV.
- Thermo Fisher Scientific Inc.
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research Methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter's five forces analysis
- 3.3.1. High bargaining power of suppliers
- 3.3.2. Low threat of new entrants
- 3.3.3. Low threat of substitutes
- 3.3.4. Moderate intensity of rivalry
- 3.3.5. Moderate bargaining power of buyers
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.1.1. Rise in prevalence of cancer
- 3.4.1.2. Increase in demand for ideal therapeutics for treatment
- 3.4.1.3. Rise in adoption of Artificial Intelligence (AI) based diagnosis
- 3.4.2. Restraints
- 3.4.2.1. High cost of personalized medicine
- 3.4.2.2. Limited Reimbursement and coverage
- 3.4.3. Opportunities
- 3.4.3.1. Increase in R&D activities in personalized cancer medicine
- 3.5. COVID-19 Impact Analysis on the market
CHAPTER 4: PERSONALIZED CANCER MEDICINE MARKET, BY PRODUCT
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Personalized Medicine Therapeutics
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Personalized Medicine Diagnostics
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
CHAPTER 5: PERSONALIZED CANCER MEDICINE MARKET, BY END USER
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Hospitals and clinics
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Others
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
CHAPTER 6: PERSONALIZED CANCER MEDICINE MARKET, BY REGION
- 6.1. Overview
- 6.1.1. Market size and forecast By Region
- 6.2. North America
- 6.2.1. Key trends and opportunities
- 6.2.2. Market size and forecast, by Product
- 6.2.3. Market size and forecast, by End User
- 6.2.4. Market size and forecast, by country
- 6.2.4.1. U.S.
- 6.2.4.1.1. Key market trends, growth factors and opportunities
- 6.2.4.1.2. Market size and forecast, by Product
- 6.2.4.1.3. Market size and forecast, by End User
- 6.2.4.2. Canada
- 6.2.4.2.1. Key market trends, growth factors and opportunities
- 6.2.4.2.2. Market size and forecast, by Product
- 6.2.4.2.3. Market size and forecast, by End User
- 6.2.4.3. Mexico
- 6.2.4.3.1. Key market trends, growth factors and opportunities
- 6.2.4.3.2. Market size and forecast, by Product
- 6.2.4.3.3. Market size and forecast, by End User
- 6.3. Europe
- 6.3.1. Key trends and opportunities
- 6.3.2. Market size and forecast, by Product
- 6.3.3. Market size and forecast, by End User
- 6.3.4. Market size and forecast, by country
- 6.3.4.1. Germany
- 6.3.4.1.1. Key market trends, growth factors and opportunities
- 6.3.4.1.2. Market size and forecast, by Product
- 6.3.4.1.3. Market size and forecast, by End User
- 6.3.4.2. France
- 6.3.4.2.1. Key market trends, growth factors and opportunities
- 6.3.4.2.2. Market size and forecast, by Product
- 6.3.4.2.3. Market size and forecast, by End User
- 6.3.4.3. UK
- 6.3.4.3.1. Key market trends, growth factors and opportunities
- 6.3.4.3.2. Market size and forecast, by Product
- 6.3.4.3.3. Market size and forecast, by End User
- 6.3.4.4. Italy
- 6.3.4.4.1. Key market trends, growth factors and opportunities
- 6.3.4.4.2. Market size and forecast, by Product
- 6.3.4.4.3. Market size and forecast, by End User
- 6.3.4.5. Spain
- 6.3.4.5.1. Key market trends, growth factors and opportunities
- 6.3.4.5.2. Market size and forecast, by Product
- 6.3.4.5.3. Market size and forecast, by End User
- 6.3.4.6. Rest of Europe
- 6.3.4.6.1. Key market trends, growth factors and opportunities
- 6.3.4.6.2. Market size and forecast, by Product
- 6.3.4.6.3. Market size and forecast, by End User
- 6.4. Asia-Pacific
- 6.4.1. Key trends and opportunities
- 6.4.2. Market size and forecast, by Product
- 6.4.3. Market size and forecast, by End User
- 6.4.4. Market size and forecast, by country
- 6.4.4.1. Japan
- 6.4.4.1.1. Key market trends, growth factors and opportunities
- 6.4.4.1.2. Market size and forecast, by Product
- 6.4.4.1.3. Market size and forecast, by End User
- 6.4.4.2. China
- 6.4.4.2.1. Key market trends, growth factors and opportunities
- 6.4.4.2.2. Market size and forecast, by Product
- 6.4.4.2.3. Market size and forecast, by End User
- 6.4.4.3. Australia
- 6.4.4.3.1. Key market trends, growth factors and opportunities
- 6.4.4.3.2. Market size and forecast, by Product
- 6.4.4.3.3. Market size and forecast, by End User
- 6.4.4.4. Rest of Asia-Pacific
- 6.4.4.4.1. Key market trends, growth factors and opportunities
- 6.4.4.4.2. Market size and forecast, by Product
- 6.4.4.4.3. Market size and forecast, by End User
- 6.5. LAMEA
- 6.5.1. Key trends and opportunities
- 6.5.2. Market size and forecast, by Product
- 6.5.3. Market size and forecast, by End User
- 6.5.4. Market size and forecast, by country
- 6.5.4.1. Latin America
- 6.5.4.1.1. Key market trends, growth factors and opportunities
- 6.5.4.1.2. Market size and forecast, by Product
- 6.5.4.1.3. Market size and forecast, by End User
- 6.5.4.2. Middle East And Africa
- 6.5.4.2.1. Key market trends, growth factors and opportunities
- 6.5.4.2.2. Market size and forecast, by Product
- 6.5.4.2.3. Market size and forecast, by End User
CHAPTER 7: COMPETITIVE LANDSCAPE
- 7.1. Introduction
- 7.2. Top winning strategies
- 7.3. Product Mapping of Top 10 Player
- 7.4. Competitive Dashboard
- 7.5. Competitive Heatmap
- 7.6. Top player positioning, 2022
CHAPTER 8: COMPANY PROFILES
- 8.1. Abbott Laboratories
- 8.1.1. Company overview
- 8.1.2. Key Executives
- 8.1.3. Company snapshot
- 8.1.4. Operating business segments
- 8.1.5. Product portfolio
- 8.1.6. Business performance
- 8.2. ARIEL Precision Medicine, Inc.
- 8.2.1. Company overview
- 8.2.2. Key Executives
- 8.2.3. Company snapshot
- 8.2.4. Operating business segments
- 8.2.5. Product portfolio
- 8.3. F. Hoffmann-La Roche Ltd.
- 8.3.1. Company overview
- 8.3.2. Key Executives
- 8.3.3. Company snapshot
- 8.3.4. Operating business segments
- 8.3.5. Product portfolio
- 8.3.6. Business performance
- 8.3.7. Key strategic moves and developments
- 8.4. General Electric
- 8.4.1. Company overview
- 8.4.2. Key Executives
- 8.4.3. Company snapshot
- 8.4.4. Operating business segments
- 8.4.5. Product portfolio
- 8.4.6. Business performance
- 8.4.7. Key strategic moves and developments
- 8.5. Aadi Bioscience, Inc.
- 8.5.1. Company overview
- 8.5.2. Key Executives
- 8.5.3. Company snapshot
- 8.5.4. Operating business segments
- 8.5.5. Product portfolio
- 8.5.6. Business performance
- 8.5.7. Key strategic moves and developments
- 8.6. Illumina, Inc.
- 8.6.1. Company overview
- 8.6.2. Key Executives
- 8.6.3. Company snapshot
- 8.6.4. Operating business segments
- 8.6.5. Product portfolio
- 8.6.6. Business performance
- 8.6.7. Key strategic moves and developments
- 8.7. Qiagen NV.
- 8.7.1. Company overview
- 8.7.2. Key Executives
- 8.7.3. Company snapshot
- 8.7.4. Operating business segments
- 8.7.5. Product portfolio
- 8.7.6. Business performance
- 8.7.7. Key strategic moves and developments
- 8.8. Novartis AG
- 8.8.1. Company overview
- 8.8.2. Key Executives
- 8.8.3. Company snapshot
- 8.8.4. Operating business segments
- 8.8.5. Product portfolio
- 8.8.6. Business performance
- 8.9. Thermo Fisher Scientific Inc.
- 8.9.1. Company overview
- 8.9.2. Key Executives
- 8.9.3. Company snapshot
- 8.9.4. Operating business segments
- 8.9.5. Product portfolio
- 8.9.6. Business performance
- 8.10. Bristol-Myers Squibb Company
- 8.10.1. Company overview
- 8.10.2. Key Executives
- 8.10.3. Company snapshot
- 8.10.4. Operating business segments
- 8.10.5. Product portfolio
- 8.10.6. Business performance