The global Pharmacogenomics Market is expected to reach USD 11.97 Billion by 2027, according to a new report by Emergen Research. The global pharmacogenomics (PGx) market is growing at a substantial pace owing to the growing demand for personalized therapy, increasing prevalence of target chronic diseases, technological advancements, favorable government initiatives, availability of financial support for research and development.
The report is updated with the latest economic scenario and market scope with regard to the ongoing COVID-19 pandemic. The report covers growth prospects as well as current and futuristic revenue estimations in a post COVID scenario. The report also covers changing trends and market dynamics due to the pandemic and provides an accurate impact analysis of the crisis on the overall market.
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Some Key Highlights from the Report
The software under the product and services segment is expected to have the largest market share. This is attributed to the widespread application of genomic data to effectively influence healthcare outcomes. The testing methods are improved, and the public and health care professionals are educated about the potential benefits owing to technological advancements.
The pharmacogenomics by application includes Oncology as one of the prospects which are expected to fuel the market growth. Pharmacogenomics is expected to help guide healthcare professionals to personalize treatment for cancer patients, which will contribute significantly to the market.
Research organizations held a significant share in 2019, owing to its contribution to the research field. It is a relatively new field that combines pharmacology and genomics to develop effective, safe medications and doses that will be tailored to a person's genetic makeup.
The major driving factors for the growth of this market in the North American region is the rising demand for personalized medicines, high medical reimbursement facilities, and technological advancement.
Key participants include Abbott Laboratories, Admera Health, LLC, Agena Biosciences, Inc., Cancer Genetics, Inc., Dynamic DNA Laboratories, F. Hoffmann-La Roche Ltd, geneOmbio Technologies Pvt Ltd., Genomic Health, Inc., Illumina, Inc., and Laboratory Corporation of America Holdings, among others.
Exhaustive coverage of the COVID-19 impact on the Pharmacogenomics industry is a major attraction of the report. The global health emergency has beleaguered the global economy, thereby disrupting this particular business domain’s functioning mechanism. It assesses the present market scenario and forecasts the pandemic’s aftermath in this business sector to help organizations boost their COVID-19 preparedness. The market intelligence report takes a closer view of the global market share, estimated growth rate, future market trends, entry-level barriers, fundamental market drivers, restraints, challenges, and opportunities. The report clearly defines the Pharmacogenomics market position on a global level. The detailed insights into the market’s geographical spectrum offered by the report make it an excellent source of knowledge about the Pharmacogenomics industry.
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For the purpose of this report, Emergen Research has segmented into the global Pharmacogenomics Market on the basis of products and services, technology, application, end-use, and region:
Product and Services Outlook (Revenue, USD Billion; 2017-2027)
- Products
- Kits
- Assays and Reagents
- Instruments
- Software
- Services
- Genotyping
- SNP Identification
- Pharmacogenetic Testing
- Other Services
Technology Outlook (Revenue, USD Billion; 2017-2027)
- Polymerase Chain Reaction (PCR)
- Real-Time PCR
- qPCR
- Digital PCR
- DNA Sequencing/Next Generation Sequencing (NGS)
- Nucleic Acid Amplification Tests (NAATs)
- Mass Spectrometry
- Gel Electrophoresis
- Hybridization
- Fluorescence In Situ Hybridization (FISH)
- Chromogenic In Situ Hybridization (CISH)
- Others
- Microarray
- Others
Application Outlook (Revenue, USD Billion; 2017-2027)
- Oncology
- Infectious Diseases
- Neurology/Psychiatry
- Cardiovascular
- Others
End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Research Organization
- Pharmaceutical Companies
- Diagnostic Centers
- Others
Highlights of the TOC:
- Report Overview
1.1 Research Scope
1.2 Key Pharmacogenomics market segments
1.3 Major players
1.4 Market analysis by product
1.5 Market analysis by application
1.6 Report timeline - Global Growth Trends
2.1 Global Pharmacogenomics market size
2.2 Latest Pharmacogenomics market trends
2.3 Key growth trends - Competitive Landscape
3.1 Global Pharmacogenomics market key players
3.2 Global Pharmacogenomics size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Pharmacogenomics market
3.5 Mergers, acquisitions, joint ventures, and strategic alliances
Key geographical areas:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
The report considers the following timeline for market estimation:
- Historical Years: 2017-2018
- Base Year: 2019
- Estimated Year: 2027
- Forecast Years: 2020-2027
Valuable Market Insights:
- The report highlights the latest trends observed in the consumption pattern of each regional segment.
- Extensive market segmentation included in the report helps better understand the revenue and estimated growth of the individual regions.
- The report throws light on the historical and current market scenarios and provides a concise year-on-year growth rate of the global Pharmacogenomics market.
- The report further entails the current market trends, technological advancements, revenue growth, and other aspects affecting market growth.
Read More : https://www.emergenresearch.com/industry-report/pharmacogenomics-market
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