In 2022, the cost of a genetic test that was used for a treatment with precision medicine stood at 1,816 U.S. dollars on a global average. By 2027, it is projected that this cost will decrease to below 1,700 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.
Average cost of a genetic test used for precision medicine worldwide from 2022 to 2027
(in U.S. dollars)
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Juniper Research. (September 1, 2023). Average cost of a genetic test used for precision medicine worldwide from 2022 to 2027 (in U.S. dollars) [Graph]. In Statista. Retrieved March 13, 2025, from https://www.statista.com/statistics/1420926/average-cost-genetic-test-used-for-precision-medicine/
Juniper Research. "Average cost of a genetic test used for precision medicine worldwide from 2022 to 2027 (in U.S. dollars)." Chart. September 1, 2023. Statista. Accessed March 13, 2025. https://www.statista.com/statistics/1420926/average-cost-genetic-test-used-for-precision-medicine/
Juniper Research. (2023). Average cost of a genetic test used for precision medicine worldwide from 2022 to 2027 (in U.S. dollars). Statista. Statista Inc.. Accessed: March 13, 2025. https://www.statista.com/statistics/1420926/average-cost-genetic-test-used-for-precision-medicine/
Juniper Research. "Average Cost of a Genetic Test Used for Precision Medicine Worldwide from 2022 to 2027 (in U.S. Dollars)." Statista, Statista Inc., 1 Sep 2023, https://www.statista.com/statistics/1420926/average-cost-genetic-test-used-for-precision-medicine/
Juniper Research, Average cost of a genetic test used for precision medicine worldwide from 2022 to 2027 (in U.S. dollars) Statista, https://www.statista.com/statistics/1420926/average-cost-genetic-test-used-for-precision-medicine/ (last visited March 13, 2025)
Average cost of a genetic test used for precision medicine worldwide from 2022 to 2027 (in U.S. dollars) [Graph], Juniper Research, September 1, 2023. [Online]. Available: https://www.statista.com/statistics/1420926/average-cost-genetic-test-used-for-precision-medicine/
