MEA Precision Medicine Market

MEA Precision Medicine Market Size (2024 to 2032)

The precision medicine market size in MEA is estimated to be growing at a CAGR of 11.32% from 2024 to 2032. As a result, the size of the market is expected to be USD 13.06 billion by 2032 from USD 5.54 billion in 2024.

Precision medicine is mainly one of the emerging approaches to preventive health and for the treatment of disease. Mainly the approach allows doctors and physicians or a patient to study the individual response to therapy. 

The Middle East and Africa precision medicine market is expected to be driven by the rise in online collaborative forums in developing and developed economies increased adoption of gene therapy across the region, and increased use of big data analytics in precision medicine in developing and developed economies advancements in cancer biology. In this regional market, the adoption and deployment of advanced technologies are a must-is opportunity, and it is expected to boost the market's growth during the forecast period.

The rising prevalence of cancer is expected to accelerate the demand for individualized cancer diagnostics and therapies. Furthermore, the precision medicine market in the MEA region is further predicted to grow during the forecast period due to substantial changes in the field of gene therapy, rise in the demand for gene therapy to treat major chronic illnesses and cancer, increased R&D for selecting the most effective treatment based on preclinical research and tumor molecular analysis. In addition, the growing demand for preventive care, along with advancements in next-generation sequencing (NGS) technologies, has resulted in an unprecedented proliferation and deluge of genomic sequence data, propelling the precision medicine market forward in the MEA region. 

However, misinterpretation of health and genetic data, an increase in the cost of precision medicine, reimbursement issues, and a breach of the privacy regulation are some of the limitations that would limit the market's growth during the forecast period.

This research report on the MEA precision medicine market has been segmented and sub-segmented into the following categories:

By Technology

• Big Data Analytics
• Bioinformatics
• Gene Sequencing
• Drug Discovery
• Companion Diagnostics
• Others

By Application

• Oncology
• CNS
• Immunology
• Respiratory
• Others

By Country

• KSA
• UAE
• Israel
• rest of GCC countries
• South Africa
• Ethiopia
• Kenya
• Egypt
• Sudan
• rest of MEA

Geographically, the Middle East and Africa are projected to record a moderate share in the global precision medicine market during the forecast period. The regional market is primarily driven by the acceptability of digital therapeutic applications in various medical disciplines, including mental health, substance misuse disorders, opioid-induced illnesses, cardiovascular diseases, metabolic disorders, and inflammatory diseases, among others. In addition, the Emerging countries in the region such as South Africa, Saudi Arabia, and UAE are significantly contributing to the MEA regional market growth. 

The South African precision medicine market accounted for the largest share of the MEA market in 2023, and it is likely to continue its dominance during the forecast period. There has been an increase in the use of technology for medical therapies. Consumers are becoming more aware of modern items for medical conditions treatment. Particularly because disposable incomes have increased, allowing them to adopt these things. In recent years, the precision medicine sector has developed as a potential means of providing individualized, comprehensive care to patients with various disorders. 

KEY MARKET PLAYERS

A few of the prominent companies operating in the MEA precision medicine market profiled in this report are Pfizer, Roche, Covance, Novartis, Qiagen, Biocrates Life Sciences, Teva Pharmaceutical, Nanostring Technologies, Laboratory Corporation of America Holdings, Tepnel Pharma Services, Intomics, Ferrer InCode, Silicon Biosystems, Eagle Genomics, Medtronic, and Quest Diagnostics.