| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 27.30 Billion |
| Market Size (2030) | USD 45.73 Billion |
| CAGR (2025 - 2030) | 10.86 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Precision Medicine Market Analysis
The Europe Precision Medicine Market size is estimated at USD 27.30 billion in 2025, and is expected to reach USD 45.73 billion by 2030, at a CAGR of 10.86% during the forecast period (2025-2030).
In Europe, the market is anticipated to grow, driven by several key factors: the expansion of online collaborative forums, increased focus on gene characterization, advancements in technology, and innovations in personalized therapies. These drivers are further supported by the rising prevalence of targeted diseases and the growing geriatric population. For instance, in October 2023, the European Partnership for Personalised Medicine (EP PerMed) was officially inaugurated during a high-profile conference in Valencia centered on the theme of Personalised Medicine. Hosted under the auspices of the Spanish Presidency of the Council of the European Union, the conference delved into how Personalised Medicine is reshaping healthcare to enhance people's lives. Its mission encompasses promoting diverse facets of precision medicine, fostering innovation and its transfer, and embedding these advancements within health systems for ongoing enhancement. Such partnerships offer a significant understanding of digital health, omics technologies, and artificial intelligence and their success in precision medicine, which is further expected to fuel the market growth in Europe over the forecast period.
Furthermore, an increase in research studies highlighting the importance of precision medicine in treating chronic diseases is expected to drive the market growth over the forecast period. For instance, as per the article published in February 2024 in the Frontiers in Psychiatry journal, the researchers from Europe demonstrated that, the PROMPT consortium, funded by the European ERA PerMed scheme, aims to revolutionize treatment for major depressive disorder (MDD). By merging clinical insights with genomic, transcriptomic, and sex-related data, the consortium seeks to pioneer an integrated precision medicine approach. Central to this initiative is the development of a novel algorithm designed to predict treatment responses, paving the way for validation in upcoming clinical trials. Hence, such schemes and government initiatives are expected to increase the demand for precision medicine in Europe, augmenting market growth over the forecast period.
Thus, owing to the increase in government initiatives by authorities and the rise in strategic collaborations by the key players in Europe, the studied market is expected to witness notable growth in Europe over the forecast period. However, the issues associated with data sharing, the shift from treatment-based to preventive healthcare and stringent regulatory requirements are likely to hinder market growth over the forecast period.
Europe Precision Medicine Market Trends
Oncology Segment is Anticipated to Grow Over the Forecast Period
The oncology segment is expected to witness significant growth in Europe due to the increase in cancer cases and the rise in demand for precision medicine and targeted therapies in cancer treatment. For instance, as per the Spanish Network of Cancer Registries report published in 2023, 42.7 thousand colon and rectum cancer, 35 thousand breast cancer, 31.2 thousand lung cancer, and 29 thousand prostate cancer cases were diagnosed in 2023 in Spain.
Similarly, according to the cancer statistics published by the Italian Association of Cancer Registries (AIRTUM) in 2023, there were around 395 thousand new cancer diagnoses in 2023 in Italy, of which almost 208 thousand among men and 187 thousand among women, excluding non-melanoma skin cancers. Hence, a high prevalence of cancer cases in European countries like Spain and Italy is anticipated to increase the demand for precision medicine, contributing to the segment growth over the forecast period.
Moreover, an increase in regulatory approvals for various companion diagnostics products demonstrating the efficacy of the precision medicine approach in oncology is further expected to fuel the segment growth over the forecast period. For instance, in August 2023, Agilent Technologies Inc. has secured a Class C IVDR certification for its PD-L1 IHC 22C3 pharmDx (Code SK006) companion diagnostic (CDx). This CDx assay was earlier CE-IVD marked, allowing sales within the European Union.
With the recent certification, it now complies with the updated EU Regulation for in vitro diagnostic medical devices (IVDR). The PD-L1 IHC 22C3 pharmDx, Code SK006, plays a crucial role in pinpointing specific cancer patients who are eligible for treatment with KEYTRUDA (pembrolizumab). Companion diagnostic tests identify specific genetic mutations and biomarkers, pinpointing patients most likely to benefit from precision medicine treatments. This targeted approach effectively reduces the overall number of patients undergoing treatment. Thus, due to the emergence of companion diagnostic assays, the demand for precision medicine in oncology is likely to rise, thereby driving segment growth over the forecast period.
Thus, owing to the rise in the adoption of precision medicine in cancer treatment and the high prevalence of cancer cases in Europe, the studied segment is expected to witness significant growth over the forecast period.
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United Kingdom is Expected to Witness a Significant Growth Over the Forecast Period
United Kingdom is expected to witness significant market growth owing to the well-established research and development(R&D) infrastructure, an increase in investment in R&D by the government and the presence of key market players. For instance, in May 2023, Innovate UK, part of UK Research and Innovation, invested up to GBP 20 million (USD 25.78 million) in industry-led collaborative R&D innovation projects that focused on advancing precision medicine in multiple therapeutic areas. Thus, owing to such investment to support precision medicine in the United Kingdom is expected to bolster the market growth in the country.
UK's numerous Centres of Excellence provide advanced research and expertise in precision medicine and diagnostics. These centers assist companies in designing, researching, and developing precision medicine solutions that seamlessly integrate with a large-scale, active healthcare system.
Furthermore, the development of new schemes and plans to support precision medicine by government agencies is likely to augment the market growth in the United Kingdom. For instance, in March 2023, the Genetic scientists with the National Health Service (NHS) in England put forward a plan to offer rapid whole genome sequencing (rWGS) for children and babies with serious illnesses as part of a larger initiative to embrace genomic medicine in the United Kingdom.
This strategy is expected to focus on empowering people to take preventative action following risk-based predictions, receive life-changing diagnoses, and get the support needed to live with genomically-informed diagnoses with improved access to advanced precision medicine. Thus, owing to such initiatives that incorporate precision medicine in public healthcare are expected to drive market growth in the United Kingdom over the forecast period.
Hence, due to the increase in the adoption of precision medicine in healthcare and a rise in government initiatives, the United Kingdom is expected to witness significant growth over the forecast period.
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Europe Precision Medicine Industry Overview
The Europe precision medicine market is semi-consolidated in nature due to the presence of several companies operating globally as well as regionally. A few of the major companies in the market are Abbott, AstraZeneca PLC, Danaher Corporation, Qiagen NV, and Thermo Fisher Scientific Inc among others.
Europe Precision Medicine Market Leaders
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AstraZeneca PLC
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Danaher Corporation
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Qiagen NV
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Thermo Fisher Scientific Inc.
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Abbott
- *Disclaimer: Major Players sorted in no particular order
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Europe Precision Medicine Market News
- September 2024: CardiaTec, a tech firm unraveling the biology of cardiovascular diseases, successfully raised EUR 5.8 million (USD 6.4 million) in seed funding. This fresh capital infusion will enable CardiaTec to broaden its platform and advance its proprietary drug targets into the preclinical phase. To facilitate this endeavor, CardiaTec has forged partnerships with 65 hospitals in the US and the UK, enabling tailored collections of human hearts for data generation.
- June 2024: The National Health Service (NHS) reported the successful treatment of its inaugural patient in England with a tailored vaccine targeting bowel cancer. This milestone is part of a clinical trial under NHS England's newly introduced Cancer Vaccine Launch Pad initiative.
Europe Precision Medicine Industry Segmentation
As per the scope of the report, precision medicine, a combination of molecular biology techniques and system biology, is an emerging approach to disease treatment and prevention.
The Europe Precision Medicine Market is Segmented by Technology, Application, and Geography. By technology, the market is segmented into Big Data Analytics, Bioinformatics, Gene Sequencing, Drug Discovery, Companion Diagnostics, and Other Technologies. Other technologies are Omics Technologies, Biomarkers, etc. By application, the market is segmented into Oncology, CNS, Immunology, Respiratory, and Other Applications. Other Applications include Pharmacogenomics and Rare Diseases. By geography, the market is segmented into Germany, United Kingdom, France, Italy, Spain, Rest of Europe. The report offers the value (in USD) for the above segments.
| By Technology | Big Data Analytics |
| Bioinformatics | |
| Gene Sequencing | |
| Drug Discovery | |
| Companion Diagnostics | |
| Other Technologies (Omics Technologies, Biomarkers) | |
| By Application | Oncology |
| CNS | |
| Immunology | |
| Respiratory | |
| Other Applications (Pharmacogenomics and Rare Diseases) | |
| Geography | Germany |
| United Kingdom | |
| France | |
| Italy | |
| Spain | |
| Rest of Europe |
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Europe Precision Medicine Market Research FAQs
How big is the Europe Precision Medicine Market?
The Europe Precision Medicine Market size is expected to reach USD 27.30 billion in 2025 and grow at a CAGR of 10.86% to reach USD 45.73 billion by 2030.
What is the current Europe Precision Medicine Market size?
In 2025, the Europe Precision Medicine Market size is expected to reach USD 27.30 billion.
Who are the key players in Europe Precision Medicine Market?
AstraZeneca PLC, Danaher Corporation, Qiagen NV, Thermo Fisher Scientific Inc. and Abbott are the major companies operating in the Europe Precision Medicine Market.
What years does this Europe Precision Medicine Market cover, and what was the market size in 2024?
In 2024, the Europe Precision Medicine Market size was estimated at USD 24.34 billion. The report covers the Europe Precision Medicine Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Europe Precision Medicine Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
