Pharmacogenomics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented by Technology (PCR, Sequencing, Microarray, Gel Electrophoresis, Mass Spectrometry, Others), By Service (Genotyping, SNP Identification, Pharmacogenetic Testing, Others), By Application (Drug Discovery, Oncology, Neurology and Psychiatry, Pain Management, Cardiovascular Diseases, Others),
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationPharmacogenomics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented by Technology (PCR, Sequencing, Microarray, Gel Electrophoresis, Mass Spectrometry, Others), By Service (Genotyping, SNP Identification, Pharmacogenetic Testing, Others), By Application (Drug Discovery, Oncology, Neurology and Psychiatry, Pain Management, Cardiovascular Diseases, Others),
The global pharmacogenomics market is expected to grow at a robust rate during the forecast period. This can be ascribed to the growing popularity and adoption of personalized medicine in the field of healthcare. Pharmacogenomics studies the way a patient’s DNA affects the way his/her body responds to drugs. The growing prevalence of various chronic diseases such as cancer, cardiovascular diseases, respiratory ailments, renal disorders, among others has significantly increased the demand for developing personalized treatment for the treatment of these diseases, thereby driving the growth of global pharmacogenomics market. Additionally, increasing research & development activities along with various companies entering the personalized medicine space is expected to create lucrative opportunities for the growth of global pharmacogenomics market. For instance, in June 2020, Infosys Limited launched personalized medicine solution for the pharmaceutical industry to digitally transform their processes and drive stronger business outcomes.
Increasing Rate of Adverse Drug Reaction
Adverse Drug Reactions (ADRs) include medication-related side effects that develop during clinical use. Furthermore, they can continue for a long time, decreasing a patient's quality of life. ADRs can cause morbidity and fatality in severe circumstances. The increasing number of medications on the market, the rapid rise of polypharmacy to treat different disorders especially in the elderly population, among others are all contributing to the global occurrence of ADRs.
Increasing Research & Development Activities
For instance, according to a report published by National Institute of Health of the United States in May 2022, the expenditure on research & development activities related to cancer genomics increased from USD861 million in 2016 to USD1,220 million in 2022.
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Market Segmentation
The global pharmacogenomics market can be segmented by technology, by service, by application, by end user, by region. Based on technology, the market can be categorized into PCR, sequencing, microarray, gel electrophoresis, mass spectrometry, and others. Based on by service, the market can be fragmented into genotyping, SNP identification, pharmacogenetic testing, and others. Based on application, the market can be grouped into drug discovery, oncology, neurology and psychiatry, pain management, cardiovascular diseases, and others. Based on end user, the market can be classified into hospitals & clinics, biotechnology & pharmaceutical companies, and others. Regionally, North America dominated the market among Europe, Asia Pacific, Middle East & Africa and South America.
Market Players
Abbott Laboratories, Inc., Illumina, Inc., Thermo Fischer Scientific, Inc., AstraZeneca Plc., F.Hoffmann-La Roche AG, Bio-Rad Laboratories, Inc., Becton, Dickinson and Company, Eurofins Scientific SE, Pacific Biosciences of California Inc., Qiagen N.V., PerkinElmer, Inc., Oxford Nanopore Technologies Limited, Agilent Technologies, Inc., Myriad Genetics, Inc, Admera Health, LLC
| Attribute | Details |
| Base Year | 2021 |
| Historic Data | 2017 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027 |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | · By Technology · By Service · By Application · By End User · By Region |
| Regional scope | North America; Asia Pacific; Europe; South America; Middle East & Africa |
| Country scope | United States; Canada; Mexico; China; India; Japan; South Korea; Australia; Germany; France; United Kingdom; Spain; Italy; Brazil; Argentina; Colombia; South Africa; Saudi Arabia; UAE; Egypt; Turkey |
| Key companies profiled | Abbott Laboratories, Inc., Illumina, Inc., Thermo Fischer Scientific, Inc., AstraZeneca Plc., F.Hoffmann-La Roche AG, Bio-Rad Laboratories, Inc., Becton, Dickinson and Company, Eurofins Scientific SE, Pacific Biosciences of California Inc., Qiagen N.V., PerkinElmer, Inc., Oxford Nanopore Technologies Limited, Agilent Technologies, Inc., Myriad Genetics, Inc, Admera Health, LLC |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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