United States Precision Medicine Market

United States Precision Medicine Market Size and Share:

The United States precision medicine market size reached USD 38.4 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 43.2 Billion by 2033, exhibiting a growth rate (CAGR) of 11.7% during 2025-2033.  The market is primarily driven by the advancement of genomics technology, increasing healthcare data, and the adoption of AI and machine learning technologies, government support for personal medicine, the rising prevalence of chronic diseases, and regional collaborations between healthcare institutions and tech firms.

The market in the US is primarily driven by the widespread prevalence of chronic diseases. Including cancer and cardiovascular conditions. For instance, U.S. Food & Drug Administration reported that seven of the ten leading causes of death in the U.S. are common chronic diseases (CCDs), with diet-related illnesses such as cardiovascular disease, diabetes, obesity, and certain cancers contributing significantly. The U.S. ranks behind 42 countries in diet-related disease rates, and 28 million Americans continue to smoke, which is fueling the need for unique therapeutic intervention. Ongoing technological advances in genomics and bioinformatics are further improving the design of personalized therapies, thereby propelling the market. In addition, accelerating investments from pharmaceutical companies into precision medicine research and development activities are adding momentum to the precision medicine market in the United States. Moreover, government programs encouraging innovative healthcare solutions and funding for precision medicine programs are making the solutions more accessible, supporting broader market adoption across healthcare systems.  Also, the increasing integration of AI and big data analytics in healthcare is promoting more accurate patient profiling and treatment customization, supporting market growth.

The increasing availability of direct-to-consumer genetic testing services is improving patient awareness and engagement is acting as a significant growth inducing factor for the market. Apart from this, strategic partnerships between research centers and healthcare service providers are speeding up the translation of research into clinical practice, which in turn is fostering growth. For instance, on August 26, 2024, Care Access announced a multimillion-dollar agreement with the U.S. Department of Health and Human Services' Biomedical Advanced Research and Development Authority (BARDA) to improve pandemic preparedness. The partnership will add up to 150 community-based clinicians across 30 regions, community organizations in underserved areas, and nationwide long-term care providers to Care Access's decentralized clinical trial network. The initiative aims at improving access to vaccines and treatments during public health emergencies, and it ensures equal healthcare for all diverse populations. The growing interest in minimizing adverse drug reactions and improving the effectiveness of treatments is creating increased demand for precision medicine solutions, which further bolsters the market outlook in the United States.

United States Precision Medicine Market Trends:

Increased Research on Pharmacogenomics

The U.S. precision medicine market size continues to grow by the incorporation of pharmacogenomics during drug development as well as medical care. Notably, on June 25, 2024, ImmunoPrecise Antibodies Ltd. announced that its wholly owned subsidiary, BioStrand, has formed a strategic collaboration with PGxAI to develop an AI model that generates pharmacogenomics recommendations based on BioStrand's LENSaiTM platform. It will improve the application of personalized medicine by making predictions on individual responses to medications. This can thereby improve treatment safety and efficacy. A trend that gives the opportunity of identifying genetic diversity that impacts variation in individual response toward drugs, ensures efficacy, and better safety. The pharmaceutical industry is now rapidly investing in various pharmacogenomics trials for efficient treatment protocols where adverse reactions among patients are likely to decrease followed by improved healthcare outcomes. With growing interest in research work, the growth for precision medicine in the United States, in turn, is propelling this market by stimulating innovations in discovering drugs and giving way to efficient personalized therapies.

Rising Utilization of NGS

The utilization of next-generation sequencing (NGS) is elevating the United States precision medicine market size with high-speed and cheaper genetic profiling compared to traditional technology. For instance, on October 17, 2024, Illumina introduced the MiSeq i100 Series, its latest benchtop sequencing systems designed to improve next-generation sequencing (NGS) capabilities for laboratories.  These systems provide flexible output capabilities, with the MiSeq i100 Plus delivering up to 100 million single end reads per run and are scheduled for global availability in 2025. This has led NGS technology to be a huge success in determining the biomarkers and rare mutations, thereby significantly helping in expediting the research process of determining personal treatment regimens. Particularly in oncology, this facilitates cancer therapy adaptation according to individual genetic profiles. High market demand for NGS in clinical diagnostics and research is widening market opportunities, reinforcing the trends & growth seen across healthcare sectors and very much advancing precision medicine in the United States.

 Digital Health and AI Integration

The integration of artificial intelligence and digital health technologies is further strengthening the market through efficiency in data analysis and managing patients. Notably, on 8 October 2024, Healthcare IT News reported that healthcare organizations across the globe were striving to modernize their IT infrastructure in response to more flexible patient preferences. Traditional care is needed to coexist with digital self-service solution offerings. Over 60% of these organizations planned to adopt such AI technologies as generative AI, predictive analytics, and workflow automations in the next three years, according to a recent study conducted by HIMSS Market Insights. However, the main barriers to these modernization efforts are challenges such as increasing IT infrastructure costs (named by 76% of leaders), security concerns (61%), and investment prioritization (59%). AI algorithms are analyzing vast datasets to identify patterns, predict disease risks, and suggest personalized interventions. This is making the diagnosis more accurate and propitiating proactive healthcare, which is leading to further market growth. Also, digital health platforms are equipping patients to monitor their health metrics, allowing for tailored wellbeing strategies. A fusion of AI and precision medicine has heralded a change that marks a pivotal turn in the United States precision medicine market trends & growth.

United States Precision Medicine Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the United States precision medicine market, along with forecasts at the country and regional levels from 2025-2033. The market has been categorized based on product, technology, application, and end user.

Analysis by Product:

• Consumables
• Instruments
• Services
   

Consumables form a crucial segment of the United States precision medicine market. Consumables are crucial for diagnostic testing, sample collection, and processing. Reagents, test kits, and laboratory supplies ensure accurate functioning of diagnostic procedures that form the backbone of precision medicine. High-quality consumables have been in demand due to advancements in genomics and molecular biology, and this has promoted innovation in personalized healthcare and improved treatment outcomes.

Instruments are an essential part of the United States precision medicine market, as they allow healthcare providers to analyze genetic information, biomarkers, and other patient-specific data. Advanced instruments, such as next-generation sequencing (NGS) platforms, PCR machines, and mass spectrometers, are essential for performing precise diagnostics and tailored treatments. As the precision medicine field continues to change, the sophistication and accuracy of these instruments play a pivotal role in delivering personalized care, contributing to improved patient outcomes.

Services are vital in the United States precision medicine market as it represents the services required in the practice of personalized healthcare. Such services comprise genetic counseling, bioinformatics, data analysis, and laboratory testing, which will all increase the chances of receiving individualized treatment plans relative to an individual's genetic makeup. Growing demand for precision medicine has led to the expansion of specialized service providers, which is critical in translating genetic data into actionable insights for clinicians and patients alike.

Analysis by Technology:

• Big Data Analytics
• Bioinformatics
• Gene Sequencing
• Drug Discovery
• Companion Diagnostics
• Others
   

Big data analytics plays a significant role in the U.S. market of precision medicine as it involves the processing of big amounts of health data for a patient from their genetics, clinical observations, and exposures. This reveal individualized patterned risk and response to any form of therapy. The analyzing power of Big Data enhances better health care outcome improvement and thus contributes to quick implementation of this practice across all U.S. clinics.

Bioinformatics is essential in the United States precision medicine market as it helps in the interpretation of complex biological data, such as genetic sequences, which is central to developing personalized treatments. With the increasing availability of genomic data, bioinformatics tools enable healthcare professionals to predict disease risks, tailor therapies, and optimize treatment plans based on individual genetic profiles. This enhances the efficiency and effectiveness of precision medicine, making it an integral part of modern healthcare solutions.

Gene sequencing is one of the pillars of the precision medicine market in the United States, giving vital information about individual genetic makeup. It identifies mutations in a patient's genetic code that influence disease susceptibility and drug responses by analyzing a patient's genetic code. This information will be used in developing highly targeted therapies and preventive strategies, which are crucial to the success of precision medicine and will provide patients with more accurate diagnoses and more tailored treatment options.

Analysis by Application:

• Oncology
• Central Nervous System (CNS)
• Immunology
• Respiratory Medicine
• Infections
• Others
   

Oncology-based concepts have found significant importance in the U.S. market due to the growing incidence of cancer and the understanding of the need for individualized treatment techniques. Novel breakthroughs in genomic profiling and targeted therapies have paved the way for personalizing cancer treatments based on the patient's individual genetic profile as well as that of the tumor. Precision oncology leads to better prognosis of treatment results, fewer adverse effects, and better patient response by identifying the right therapy for an individual type of cancer.

Another high-end area of attention in the US precision medicine market is the central nervous system area, especially where neurological disorders, such as Alzheimer's disease and Parkinson's and multiple sclerosis are concerned. With the advancement of genomics and biomarkers, precision medicine aims to provide personalized therapeutic strategies for CNS conditions, targeting specific molecular pathways and genetic factors. This approach may hold future promises for improving diagnosis, optimizing treatments, and enhancing quality of life for patients with complex neurological diseases.

Immunology is central to the market of precision medicine in the U.S. market, especially while developing personalized immunotherapy for diseases including autoimmune diseases as well as in cancer. Precision medicine, through genomics and other molecular data, enables the possibility of designing medicines that modulate the immune response to suppress unhelpful activity or enhance responses against pathogens and even cancer cells. Immunology’s integration into precision medicine has significantly advanced the effectiveness of immunotherapies, offering hope for better disease management and patient outcomes.

Analysis by End User:

• Hospitals and Clinics
• Diagnostic Centers
• Pharma and Biotech Companies
• Healthcare IT Firms
• Others
   

Hospitals and clinics play a vital role in the precision market as they represent the direct providers of care, where personal therapies are delivered to patients. Incorporating advanced diagnostic tools and molecular profiling, the healthcare institutions can develop precise plans of treatment specifically for individual patients. These centers become instrumental in ensuring targeted therapies with improved patient results and reduced health expenditure. Thus, these medical institutions play a pivotal role in ensuring that precision medicine spreads across the nation.

In the U.S. precision medicine market, diagnostic centers form a crucial component as they offer patients the basic testing and genetic screening for biomarkers that are unique to a patient's disease. These centers make use of advanced technologies such as next-generation sequencing (NGS) and liquid biopsy to deliver correct diagnoses and inform treatment decisions. Their ability to handle big pools of genetic data is crucial for developing personalized treatment strategies, making them contributing members to the success of precision medicine.

Pharmaceutical and biotechnology companies are the leaders in the U.S. precision medicine market, driving innovation in drug development and targeted therapies. These companies invest heavily in research to identify genetic targets and develop medications that are tailored to specific genetic profiles. Pharma and biotech firms, focusing on personalized treatment solutions, improve the efficacy of drugs, reduce adverse effects, and contribute significantly to the evolution of precision medicine, thereby improving healthcare outcomes for diverse patient populations.

Regional Analysis:

• Northeast
• Midwest
• South
• West
   

The Northeast region is a very significant contributor to the U.S. precision medicine market, given its well-established healthcare infrastructure, top academic institutions, and advanced research facilities. Massachusetts, New York, and Pennsylvania are home to many biotechnology companies and medical research centers that have led to breakthroughs in personalized treatments. The region has become a hotbed for clinical trials, taking advantage of data from diverse patient populations, and has been instrumental in developing innovative diagnostic tools and therapies.

The Midwest, comprising a high concentration of medical institutions and universities, will play a significant role in the future of the precision medicine market. With key cities such as Chicago, Cleveland, and Minneapolis, the region has a strong foundation in medical research and healthcare technology. Advance precision medicine in the Midwest through the integration of diverse demographic data with innovative healthcare solutions, focusing more on genetic testing, diagnostics, and approaches towards treatment that are appropriate for the population.

The South is emerging as a crucial contributor to the U.S. precision medicine market, particularly with expanding healthcare access and innovation in medical technologies. The states of Texas, Florida, and North Carolina are investing in large-scale healthcare initiatives that integrate genomics, data analytics, and personalized treatment regimens. The region's diverse population provides valuable genetic and clinical data that accelerates the development of targeted therapies, further boosting the precision medicine landscape.

The West is at the forefront of innovation in the U.S. precision medicine market, especially in the states of California and Washington, which host hundreds of biotech companies and famous research centers. Focused on integrating AI, big data, and genomics, the West is creating the frontiers of personalized medicine. Moreover, the diversity of the population with a keen eye for technology and the fact that it's quite accessible in different patient demographics contribute to the development of precision medicine solutions.

Competitive Landscape:

The United States precision medicine market is characterized by constant innovation, strategic collaborations, and high investment in research and development. Companies are looking to expand their portfolios through the integration of advanced technologies like next-generation sequencing, artificial intelligence, and biomarker discovery. Personalized therapeutics is another focus area where firms are developing customized treatments to treat complex diseases, especially in oncology and rare genetic disorders. In addition, healthcare provider, academia, and biotech firm collaboration are driving developments that improve competition in the marketplace and speed adoption of precision medicine solutions in the U.S.

The report provides a comprehensive analysis of the competitive landscape in the United States precision medicine market with detailed profiles of all major companies.

Latest News and Developments:

• On October 31, 2024, Ataraxis AI launched Ataraxis Breast, the first AI-native prognostic and predictive test for breast cancer, marking a major advancement in precision medicine. Clinically validated in a landmark study, the test demonstrated a 30% improvement in accuracy over the current standard of care. The company also secured USD 4 Million in seed funding, co-led by Giant Ventures and Obvious Ventures, to advance its development. 
• On October 23, 2024, four prominent cancer research organizations—the Alliance for Clinical Trials in Oncology, Canadian Cancer Trials Group, ECOG-ACRIN Cancer Research Group, and SWOG Cancer Research Network—initiated patient enrollment for myeloMATCH. This precision medicine clinical trial portfolio, conducted under the National Cancer Institute's National Clinical Trials Network, targets acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS). The program aims to enroll over 5,000 patients in the U.S. and Canada, providing biomarker-driven treatment options throughout their care.
• On April 3, 2024, Denovo Biopharma announced positive results from its ENLIGHTEN Phase 2b clinical trial for DB104 (liafensine) in treating treatment-resistant depression (TRD). The trial, guided by a novel genetic biomarker, showed significant improvements in TRD patients who received liafensine compared to those who received a placebo. The drug demonstrated good tolerability and safety, marking a breakthrough in precision medicine for central nervous system diseases. Denovo is now seeking a global partner to further develop liafensine and is also working on biomarkers for other high unmet medical needs. Liafensine is a first-in-class triple reuptake inhibitor, and Denovo Biopharma is a clinical-stage biopharmaceutical company with multiple late-stage drugs in its pipeline.
• On February 19, 2024, the National Institutes of Health (NIH) announced the identification of 275 million new genetic variants through the All of Us Research Program, which aims to advance precision medicine. This was identified from data shared by nearly 250,000 participants in the All of Us Research Program. Notably, half of the genomic data are from participants of non-European genetic ancestry, improving the diversity and inclusivity of genetic research. Around 4 million of these newly discovered variants are situated in areas potentially linked to disease risk, offering researchers avenues to explore the genetic factors that impact health and disease, particularly in communities that have been historically underrepresented in scientific studies.

United States Precision Medicine Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the United States precision medicine market from 2019-2033.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the United States precision medicine market.
• Porter's Five Forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the United States precision medicine industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.