In 2022, total spending on treatments with precision medicine stood at some 32 billion U.S. dollars globally. By 2027, it is projected that total spending will increase to around 124 billion dollars. The idea behind precision medicine, also called personalized medicine, is that every patient needs a specific, tailored approach instead of a one-size-fits-all approach. This is the case, for example, with the various types of cancer which are impacted by many individual factors like people's genetics, lifestyle, environment, etc.
Total precision medicine treatment spending worldwide from 2022 to 2027
(in million U.S. dollars)
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Spending in million U.S. dollars
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Juniper Research. (September 1, 2023). Total precision medicine treatment spending worldwide from 2022 to 2027 (in million U.S. dollars) [Graph]. In Statista. Retrieved September 08, 2024, from https://www.statista.com/statistics/1420946/spending-on-precision-medicine-treatments-globally/
Juniper Research. "Total precision medicine treatment spending worldwide from 2022 to 2027 (in million U.S. dollars)." Chart. September 1, 2023. Statista. Accessed September 08, 2024. https://www.statista.com/statistics/1420946/spending-on-precision-medicine-treatments-globally/
Juniper Research. (2023). Total precision medicine treatment spending worldwide from 2022 to 2027 (in million U.S. dollars). Statista. Statista Inc.. Accessed: September 08, 2024. https://www.statista.com/statistics/1420946/spending-on-precision-medicine-treatments-globally/
Juniper Research. "Total Precision Medicine Treatment Spending Worldwide from 2022 to 2027 (in Million U.S. Dollars)." Statista, Statista Inc., 1 Sep 2023, https://www.statista.com/statistics/1420946/spending-on-precision-medicine-treatments-globally/
Juniper Research, Total precision medicine treatment spending worldwide from 2022 to 2027 (in million U.S. dollars) Statista, https://www.statista.com/statistics/1420946/spending-on-precision-medicine-treatments-globally/ (last visited September 08, 2024)
Total precision medicine treatment spending worldwide from 2022 to 2027 (in million U.S. dollars) [Graph], Juniper Research, September 1, 2023. [Online]. Available: https://www.statista.com/statistics/1420946/spending-on-precision-medicine-treatments-globally/
