Precision Diagnostics Market Report by Type (Genetic Tests, Esoteric Tests, and Others), Application (Oncology, Cardiology, Immunology, and Others), End User (Hospitals, Clinical Laboratories, Homecare), and Region 2024-2032

Precision Diagnostics Market Report by Type (Genetic Tests, Esoteric Tests, and Others), Application (Oncology, Cardiology, Immunology, and Others), End User (Hospitals, Clinical Laboratories, Homecare), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A12374
Buy Now

Market Overview:

The global precision diagnostics market size reached US$ 75.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 187.1 Billion by 2032, exhibiting a growth rate (CAGR) of 10.62% during 2024-2032. The increasing demand for personalized medicine, advancements in genomics and molecular diagnostics, and growing awareness regarding diagnostic procedures represent some of the key factors driving the market.

Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023 US$ 75.4 Billion
Market Forecast in 2032 US$ 187.1 Billion
Market Growth Rate 2024-2032 10.62%


Precision diagnostics, also known as precision medicine diagnostics or personalized diagnostics, refers to a branch of medicine that uses advanced diagnostic techniques and technologies to tailor medical decisions, treatments, and interventions to individual patients. It involves the use of various diagnostic tests, including genetic testing, molecular profiling, imaging, and other advanced diagnostic modalities, to gather detailed information about a patient's unique genetic makeup, molecular characteristics, and disease status. It provides precise and targeted information that helps healthcare providers understand a patient's disease or condition, predict their response to specific treatments, and develop personalized treatment plans. It can also provide information about the prognosis of a disease, helping to identify patients who are at higher risk or may require more aggressive treatments. Moreover, it enables healthcare professionals to make more informed decisions about disease prevention, diagnosis, treatment selection, and monitoring. In addition, these procedures improve patient outcomes, enhance treatment efficacy, minimize adverse effects, and optimize healthcare resource utilization.

Precision Diagnostics Market

Precision Diagnostics Market Trends:

The market is primarily driven by the demand for personalized medicine. Precision diagnostics play a crucial role in the field of personalized medicine by providing precise information about a patient's genetic makeup, disease susceptibility, and treatment response. In addition, various technological advancements in genomics and molecular diagnostics represent another major growth-inducing factor. The emergence of technologies such as next-generation sequencing (NGS), gene expression profiling, and molecular imaging techniques have enhanced the understanding of diseases at a molecular level, enabling the development of more accurate and targeted diagnostic tests. Besides this, the rising prevalence of chronic diseases, such as cancer, cardiovascular diseases, and diabetes, is accelerating the adoption of precise diagnostics to aid in early detection, accurate diagnosis, and monitoring of these diseases. This, coupled with the growing awareness regarding early detection of disease and companion diagnostics, is contributing to market growth. Moreover, the market is further propelled by the introduction of microfluidics, lab-on-a-chip technologies, and point-of-care testing devices, which have made diagnostics more accessible, portable, and cost-effective, allowing for faster and real-time results, especially in resource-limited settings and remote areas. Furthermore, the rising healthcare expenditure and the developing healthcare infrastructure worldwide are also creating a favorable market outlook across the globe.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global precision diagnostics market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on type, application, and end user.

Type Insights:

Precision Diagnostics Market

  • Genetic Tests
  • Esoteric Tests
  • Others
     

The report has provided a detailed breakup and analysis of the precision diagnostics market based on the type. This includes genetic tests, esoteric tests, and others. According to the report, genetic tests represented the largest segment.

Application Insights:

  • Oncology
  • Cardiology
  • Immunology
  • Others
     

A detailed breakup and analysis of the precision diagnostics market based on the application has also been provided in the report. This includes oncology, cardiology, immunology, and others. According to the report, oncology accounted for the largest market share.

End User Insights:

  • Hospitals
  • Clinical Laboratories
  • Homecare
     

The report has provided a detailed breakup and analysis of the precision diagnostics market based on the end user. This includes hospitals, clinical laboratories, and homecare. According to the report, clinical laboratories represented the largest segment.

Regional Insights:

Precision Diagnostics Market

  • North America
    • United States
    • Canada
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for precision diagnostics. Some of the factors driving the North America precision diagnostics market included the growing prevalence of chronic diseases, the escalating demand for personalized medicine, and the rising awareness among masses regarding early diagnosis of diseases.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global precision diagnostics market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Abbott Laboratories, Bayer AG, Koninklijke Philips N.V., Lantheus Holdings Inc., Novartis AG, Qiagen N.V., Quest Diagnostics Incorporated, Sanofi, and Swiss Precision Diagnostics GmbH (Procter & Gamble),etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Scope of the Report Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: 
  • Type
  • Application
  • End User
  • Region 
Types Covered Genetic Tests, Esoteric Tests, Others
Applications Covered Oncology, Cardiology, Immunology, Others
End Users Covered Hospitals, Clinical Laboratories, Homecare
Regions Covered North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Abbott Laboratories, Bayer AG, Koninklijke Philips N.V., Lantheus Holdings Inc., Novartis AG, Qiagen N.V., Quest Diagnostics Incorporated, Sanofi, Swiss Precision Diagnostics GmbH (Procter & Gamble),etc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

  • How has the global precision diagnostics market performed so far, and how will it perform in the coming years?
  • What are the drivers, restraints, and opportunities in the global precision diagnostics market?
  • What is the impact of each driver, restraint, and opportunity on the global precision diagnostics market?
  • What are the key regional markets?
  • Which countries represent the most attractive precision diagnostics market?
  • What is the breakup of the market based on the type?
  • Which is the most attractive type in the precision diagnostics market?
  • What is the breakup of the market based on the application?
  • Which is the most attractive application in the precision diagnostics market?
  • What is the breakup of the market based on end user?
  • Which is the most attractive end user in the precision diagnostics market?
  • What is the competitive structure of the global precision diagnostics market?
  • Who are the key players/companies in the global precision diagnostics market?

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 precision diagnostics market from 2018-2032.
  • The research study provides the latest information on the market drivers, challenges, and opportunities in the global precision diagnostics market.
  • The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
  • Porter's five forces analysis assist 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 precision diagnostics 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.

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Precision Diagnostics Market Report by Type (Genetic Tests, Esoteric Tests, and Others), Application (Oncology, Cardiology, Immunology, and Others), End User (Hospitals, Clinical Laboratories, Homecare), and Region 2024-2032
Purchase options




Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More