Precision Diagnostics and Medicine Market Projected to Reach $246.66 B by 2029

The global precision diagnostics and medicine market was valued at US$132.46 billion in 2023 and grew to US$145.53 billion in 2024. It is forecast to expand at a compound annual growth rate of 11.1% from 2024 to 2029, reaching approximately US$246.66 billion by the end of the period.

Key growth drivers include the integration of artificial intelligence (AI) and machine learning (ML) to improve diagnostic accuracy and therapeutic decision‑making, expanding collaborations between pharmaceutical and diagnostics firms, rising direct‑to‑consumer testing, and the increasing use of wearable devices for real‑time health monitoring. Major players are also extending their geographic presence by establishing manufacturing and research facilities in emerging economies.