, /PRNewswire/ -- The global is estimated to be valued at in 2024 and is expected to reach by 2031, growing at a compound annual growth rate (CAGR) of 9.4% from 2024 to 2031, according to Coherent Market Insights. The growth of the personalized medicine market is driven by the increasing adoption of genomic testing across various regions.
Genomic medicine is evolving rapidly, and it enables early detection, accurate diagnosis, and targeted prevention and treatment of diseases. : The increasing adoption of personalized medicine and growing demand for personalized healthcare are the major factors driving the growth of the personalized medicine market. Personalized medicine considers individual lifestyle, environmental, and genetic differences and helps healthcare providers customize medical treatment accordingly.
It is more effective in diagnosing, preventing, and treating diseases in individuals compared to traditional medicine, which follows a "one-size-fits-all" approach. Additionally, technological advancements in genomics and development of next-generation sequencing techniques are further fueling the adoption of personalized medicine. : Pharmacogenomics is the study of how genes affect an individual's response to drugs, which plays a vital role in the development of personalized medicine.
Researchers are increasingly focusing on pharmacogenomics to develop personalized drug therapies based on an individual's genetic makeup. This helps physicians prescribe effective medici.
