In 2022, the cost of a genetic test that was used for a treatment with precision medicine in North America stood at 1,471 U.S. dollars on average. By 2027, it is projected that this cost will decrease to 1,365 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, by region
(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, by region (in U.S. dollars) [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/1420932/average-cost-genetic-test-used-for-precision-medicine-by-world-region/
Juniper Research. "Average cost of a genetic test used for precision medicine worldwide from 2022 to 2027, by region (in U.S. dollars)." Chart. September 1, 2023. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/1420932/average-cost-genetic-test-used-for-precision-medicine-by-world-region/
Juniper Research. (2023). Average cost of a genetic test used for precision medicine worldwide from 2022 to 2027, by region (in U.S. dollars). Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/1420932/average-cost-genetic-test-used-for-precision-medicine-by-world-region/
Juniper Research. "Average Cost of a Genetic Test Used for Precision Medicine Worldwide from 2022 to 2027, by Region (in U.S. Dollars)." Statista, Statista Inc., 1 Sep 2023, https://www.statista.com/statistics/1420932/average-cost-genetic-test-used-for-precision-medicine-by-world-region/
Juniper Research, Average cost of a genetic test used for precision medicine worldwide from 2022 to 2027, by region (in U.S. dollars) Statista, https://www.statista.com/statistics/1420932/average-cost-genetic-test-used-for-precision-medicine-by-world-region/ (last visited December 22, 2024)
Average cost of a genetic test used for precision medicine worldwide from 2022 to 2027, by region (in U.S. dollars) [Graph], Juniper Research, September 1, 2023. [Online]. Available: https://www.statista.com/statistics/1420932/average-cost-genetic-test-used-for-precision-medicine-by-world-region/
