Pharmacogenomics Market Size – By Offering (Kits & Reagents [Sequencing, PCR], Service), Technology (Sequencing, PCR), Application (Personalized Medicine, Clinic Research), Disease Area (Oncology, Cardiovascular Disorders), End-user & Forecast, 2024 – 2032

Pharmacogenomics Market Size – By Offering (Kits & Reagents [Sequencing, PCR], Service), Technology (Sequencing, PCR), Application (Personalized Medicine, Clinic Research), Disease Area (Oncology, Cardiovascular Disorders), End-user & Forecast, 2024 – 2032

Pharmacogenomics Market Size

Pharmacogenomics Market size was valued at USD 3.3 billion in 2023 and is expected to expand at over 10.5% CAGR between 2024 and 2032. The market is experiencing significant growth driven by increasing demand for precision medicine and advancements in genomic technologies

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Pharmacogenomics, which examines how genetic variations influence an individual's response to medications, plays a pivotal role in tailoring medical treatments to patients' unique genetic profiles. This approach is being applied across various therapeutic areas, broadening the market potential for pharmacogenomics products and services. Additionally, increasing awareness and education about the benefits of pharmacogenomics are fostering greater acceptance and adoption among healthcare professionals and patients, further driving the market growth.
 

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Pharmacogenomics is a field of study that focuses on how an individual's genetic makeup influences their response to drugs. It combines pharmacology (the study of how drugs work in the body) with genomics (the study of genes and their functions) to understand how genetic variations affect drug metabolism, efficacy, and adverse reactions. By analyzing a person's genetic profile, pharmacogenomics aims to predict how they will respond to specific medications, enabling healthcare providers to prescribe the most effective and safest treatments tailored to individual patients.

Pharmacogenomics Market Trends

• As the global burden of cancer continues to increase, fueled by factors such as aging populations and lifestyle changes, the demand for pharmacogenomics testing and targeted cancer therapies is expected to grow substantially.
• This trend underscores the importance of pharmacogenomics in addressing the complex challenges posed by cancer and driving advancements in precision oncology.
• Additionally, the escalating burden of adverse drug reactions underscores the need for pharmacogenomics solutions to mitigate medication risks and enhance patient safety, further driving market growth and innovation.
• Furthermore, there is a significant increase in research and development investments from pharmaceutical companies, biotechnology firms, and research institutions. This surge in funding is advancing pharmacogenomics technologies and therapies, accelerating the translation of genomic insights into personalized medical treatments.

Pharmacogenomics Market Analysis

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Based on offering, the market is segmented into kits & reagents and service. The kits & reagents segment is further sub-segmented into sequencing kits & reagents, PCR kits & reagents, microarray kits & reagents, and other kits & reagents. The kits & reagents segment dominated the market and accounted for USD 2 billion in 2023.

• Kits & reagents are essential components for conducting pharmacogenomics testing, encompassing a wide range of applications from sample preparation to data analysis, contributing to significant market share.
• These offer a diverse portfolio of products tailored to different pharmacogenomics applications and technologies, including sequencing kits, PCR kits, and microarray kits.
• Thus, the availability of a wide range of products allows customers to select the most suitable kits and reagents for their experiments, driving market demand and adoption.

Based on technology, the pharmacogenomics market is classified into sequencing, PCR, microarray, and other technologies. The sequencing segment held highest market share of 40.2% in 2023.

• The sequencing segment stands out as the leading force in the pharmacogenomics industry due to its transformative capabilities and widespread adoption.
• Additionally, next-generation sequencing (NGS) technologies have revolutionized genetic analysis by enabling rapid, cost-effective sequencing of entire genomes or targeted gene panels.
• It offers unmatched accuracy and resolution, facilitating the identification of diverse genetic variations crucial for understanding drug metabolism, pharmacodynamics, and adverse reactions. Owing to these factors the sequencing segment is expected to grow in coming years.

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Based on application, the pharmacogenomics market is divided into personalized medicine, clinical research, and drug discovery and preclinical development. The personalized medicine segment is anticipated to grow at 10.3% CAGR through 2032.

• Increasing adoption of precision medicine across various medical fields, especially oncology, cardiovascular, and neurological disorders, propels demand for pharmacogenomics testing.
• Moreover, pharmacogenomics is a vital component of precision medicine. It identifies genetic variations influencing drug response, enabling optimized medication selection, and dosing.
• Such aforementioned factors support the growth of personalized medicine segment in global market.

Based on disease area, the pharmacogenomics market is categorized into oncology, cardiovascular disorders, neurological diseases, infectious diseases, mental health, and other disease areas. The oncology segment is poised to reach USD 2.3 billion by 2032.

• Pharmacogenomics enables personalized cancer treatment by identifying genetic biomarkers associated with drug response, guiding treatment decisions, and minimizing adverse reactions.
• With the increasing prevalence of cancer globally and growing adoption of precision medicine approaches, there is a rising demand for pharmacogenomics testing and services in oncology.
• Further, advancements in genomic technologies enhance the dominance of oncology segment by providing comprehensive analysis of tumor genomes and guiding personalized treatment strategies.

Based on end-user, the pharmacogenomics market is divided into hospitals & clinics, academic & research institutes, pharmaceutical & biotechnology companies, and other end-users. The hospitals & clinics segment held majority of market share and is set to witness growth at 10.1% CAGR during the forecast period.

• The dominance of the hospitals and clinics segment in the market stems from its pivotal role as the primary point of care for patients. These healthcare settings seamlessly integrate pharmacogenomic testing into routine clinical practice, leveraging personalized medicine approaches to optimize treatment decisions and improve patient outcomes.
• Additionally, the high prevalence of chronic diseases treated in these settings significant demand for pharmacogenomic testing to guide personalized treatment strategies for conditions such as cancer, cardiovascular disorders, and psychiatric illnesses. These factors collectively aid in fostering the growth of this segment.

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North America pharmacogenomics market size dominated around USD 1.3 billion in 2023 and is projected to witness 10.4% CAGR during 2024 to 2032.

• North America boasts a robust healthcare infrastructure, with advanced research facilities, leading academic institutions, and a well-established biotechnology and pharmaceutical industry. This conducive environment fosters innovation and facilitates the adoption of cutting-edge technologies, including pharmacogenomics, in clinical practice and research.
• In addition to advanced healthcare infrastructure, other factors including supportive regulatory environment, high disease prevalence, and strong presence of pharmaceutical industry collectively aid in driving the growth of this region.

U.S. pharmacogenomics market was valued at USD 1.2 billion in 2023 and is expected to reach USD 2.9 billion by 2032.

• According to American Cancer Society, in U.S. the number of new cancer cases and cancer deaths were estimated to be 1.9 million and 609,360 respectively in 2022. Thus, the high incidence rates of cancer highlight the immense demand for pharmacogenomics testing and personalized treatment.
• As a result, growing emphasis on personalized medicine is expected to contribute to the growth of the U.S. market.

Germany pharmacogenomics market is anticipated to showcase remarkable growth over the forecast period.

• Germany has a large and diverse population with a high prevalence of chronic diseases, driving demand for pharmacogenomics testing and personalized treatment approaches.
• Further, the healthcare landscape in Germany is characterized by a growing awareness of the benefits of personalized medicine, leading to increased adoption of pharmacogenomics among healthcare providers and patients.

India pharmacogenomics market is projected to experience lucrative growth during the forecast period.

• The large population, growing healthcare sector, expanding biotechnology industry, supportive regulatory environment, and government initiatives in India collectively drive its expansion in the global market.
• Furthermore, as personalized medicine continues to gain momentum globally, India is poised to play a pivotal role in advancing pharmacogenomics research, innovation, and adoption in the years to come, consequently fueling market growth.

Pharmacogenomics Market Share

The pharmacogenomics industry is characterized by intense competition, with companies focusing on innovation, product differentiation, and strategic collaborations to gain a competitive edge. Growing adoption of pharmacogenomics in clinical practice, coupled with advancements in genomic technologies and increasing investment in research and development, is expected to drive further competition and innovation in the market. Overall, the market presents lucrative opportunities for companies to capitalize on the growing demand for personalized medicine and genetic testing in healthcare.

Pharmacogenomics Market Companies

Prominent players operating in the pharmacogenomics industry include

• Agilent Technologies Inc.
• Becton, Dickinson and Company
• Bio-Rad Laboratories Inc.
• Charles River Laboratories
• Danaher Corporation
• Eurofins Scientific
• F. Hoffmann-La Roche Ltd
• Illumina Inc.
• Laboratory Corporation of America Holdings
• Mesa Labs, Inc.
• Novogene Co., Ltd.
• Revvity
• Qiagen N.V.
• Takara Bio Inc.
• Thermo Fisher Scientific Inc.

Pharmacogenomics Industry News

• In May 2022, Invitae announced the commercial availability of the expanded Invitae Pharmacogenomics (PGx) Panel which includes the specialized Invitae Pharmacogenomics Mental Health Panel and access to a clinical decision support tool. This strategic expansion helped the company to reach untapped market and enhance their position in global market.
• In May 2022, Day Lewis declared their plans to be the first to launch a private pharmacogenomic testing service in community pharmacy. This initiative helped the company to expand its range of services and diversify its revenue streams.

The pharmacogenomics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 - 2032 for the following segments

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Market, By Offering

• Kits & reagents
  • Sequencing kits & reagents
  • PCR kits & reagents
  • Microarray kits & reagents
  • Other kits & reagents
• Service

Market, By Technology

• Sequencing
• PCR
• Microarray
• Other technologies

Market, By Application

• Personalized medicine
• Clinical research
• Drug discovery and preclinical development

Market, By Disease Area

• Oncology
• Cardiovascular disorders
• Neurological diseases
• Infectious diseases
• Mental health
• Other disease areas

Market, By End-user

• Hospitals & clinics
• Academic & research institutes
• Pharmaceutical & biotechnology companies
• CROs

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa