Dublin, November 11, 2022 (GLOBE NEWSWIRE) – The “Global Pharmacogenomics Market Report 2022” Report added to ResearchAndMarkets.com Show.
The global pharmacogenomics market is expected to grow from $6.64 billion in 2021 to $7.23 billion in 2022 at a compound annual growth rate (CAGR) of 8.93%. The pharmacogenomics market is expected to reach $10.51 billion in 2026 with a compound annual growth rate (CAGR) of 9.80%.
The increasing demand for precision medicine is driving up the demand for the pharmacogenomics market. Precision medicine is a medical model that suggests personalizing health care, with medical decisions, treatments, practices, or products designed for a subset of patients rather than a one-size-fits-all model.
There is a growing demand for precision medicine because it is the most advanced in oncology, with broad and exciting applications beyond oncology and late-stage diseases such as rare and genetic diseases. The primary goal of precision medicine is to integrate genetic and environmental information about specific diseases and/or their responses to specific treatments.
For example, according to the article published on Linchpinseo in March 2022, the growing demand for investment in precision medicine from leading pharmaceutical companies is seeing a 1/3 increase in the next five years. Furthermore, in the USA, 30 million people with type 2 diabetes are diagnosed and treated as precision medicine provides individualized treatment and will re-calibrate current treatment practices. Hence, the increasing demand for precision medicine will drive the pharmacogenomics market.
Technological advancement is a major trend gaining popularity in the pharmacogenomics market. Pharmaceutical manufacturers focus on different approaches to pharmacogenomics analysis to provide cost-effective solutions for screening known polymorphisms and discovering new variants.
The countries covered in the Pharmacogenomics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
- The pharmacogenomics determinant consists of the sale of pharmacogenomics tests by entities (organizations, individual dealers, partnerships) that refer to the exact medical treatment of each person or group of persons. Pharmacogenomics is a field of research that studies how a patient’s genes affect and respond to drugs.
- The long-term goal of pharmacogenomics is to help clinicians choose the most appropriate drugs and doses for each person. Pharmacogenomics will be used to create personalized drugs to treat a variety of health problems, including cardiovascular disease, Alzheimer’s disease, cancer and asthma.
- The main technologies used in the pharmacogenomics market are next generation sequencing (NGS), polymerase chain reaction, gel electrophoresis, mass spectrometry, microarrays and other technologies. NGS is a massively parallel sequencing technology that provides superior throughput, scalability, and speed.
- This technique is used to determine the arrangement of nucleotides in the entire genome or specific regions of DNA or RNA. Pharmacogenomics applications include neuroscience, drug discovery, oncology, cardiology, pain management, and other applications. The end user included hospitals, clinics, research institutions, and academic institutes.
- North America was the largest region in the pharmacogenomics market in 2021. The Asia Pacific region is expected to be the fastest growing region in the forecast period. The regions covered in the Pharmacogenomics market report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, and the Middle East and Africa.
The major players in the Pharmacogenomics market are:
- Abbott Laboratories
- AstraZeneca plc
- Becton Dickinson & Co
- Bayer AG
- F Hoffmann-La Roche AG
- Illumina company
- GlaxoSmithKline Co
- Merck KGaA
- Myriad Genetics Company
- Thermo Fisher Scientific Company
- OPKO Health Inc
- Assurex Health Inc
- Empire Genomics LLC
- future science group
- Pathway Genomics
Main topics covered:
1. Executive Summary
2. Characteristics of the pharmaceutical market
3. Pharmacogenomics market trends and strategies
4. Impact of COVID-19 on pharmacogenomics
5. Pharmaceutical market size and growth
5.1 Global pharmacogenomics historical market, 2016-2021, billion
5.1.1. market drivers
5.1.2. Market Restrictions
5.2 Global Pharmaceutical Forecast Market, 2021-2026F, 2031F, $1 billion
5.2.1. market drivers
5.2.2. market restrictions
6. Pharmaceutical market segmentation
6.1 Global Pharmacogenomics Market Segmentation by Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Next Generation Sequence
- polymerase chain reaction
- electrophoresis gel
- mass spectrometry
- Other techniques
6.2 Global Pharmacogenomics Market Segmentation by Distribution Channel, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- hospital pharmacy
- Online pharmacy
- retail pharmacy
6.3 Global Pharmacogenomics Market Segmentation by Applications, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- real estate discovery
- Pain management
- Other apps
6.4. Global Pharmacogenomics Market Segmentation by End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion
- Hospitals and clinics
- research institutes
- academic institutes
7. Regional and Country Analysis of the Pharmaceutical Genetics Market
7.1 Global pharmacogenomics market, segmented by region, historical and forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2 Global Pharmaceutical Market, Segmented by Country, Historical and Forecast, 2016-2021, 2021-2026F, 2031F, $1 Billion
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