|Market Size in 2018||Market Forecast in 2025||CAGR (in %)||Base Year|
|USD 5,712.5 Million||USD 10,492.2 Million||9.2%||2018|
According to the report, global demand for the pharmacogenomics market size was valued at approximately USD 5,712.5 million in 2018 and is expected to generate revenue of around USD 10,492.2 million by the end of 2025, growing at a CAGR of around 9.2% between 2019 and 2025.
The report covers forecasts and analyses for the pharmacogenomics market on a global and regional level. The study provides historic data from 2016 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the pharmacogenomics market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the pharmacogenomics market on a global as well as regional level.
In order to give the users of this report a comprehensive view of the pharmacogenomics market we have included a competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein the Technology and services segment is benchmarked based on their market size, growth rate, and general attractiveness.
The report provides a company market share analysis in order to give a broader overview of the key players in the pharmacogenomics market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new technology launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the pharmacogenomics market on a global and regional basis.
Pharmacogenomics is the combination of pharmacology and genomics. Pharmacogenomics studies the effect of genes on drug response. The aim of pharmacogenomics is to develop safe and effective doses and medication tailored to the genetic makeup of a person.
Factors such as increasing implementation of pharmacogenomics procedures, growing geriatric population, increasing adoption of personalized therapy, rapidly rising incidence of chronic disorders, and growing rate of adverse reactions will act as major driving factors in the growth of the global pharmacogenomics market. Technological advancements in the field of pharmacogenomics and increasing awareness will act as an opportunity for the market players in the pharmacogenomics market. Nonetheless, the high cost of diagnosis, lack of skilled professionals, and low awareness in developing regions will restrict the growth of the global pharmacogenomics market.
The global pharmacogenomics market has been split into technology, application, end-user, and region. Based on technology, the pharmacogenomics market has been segmented into microarray, polymerase chain reaction, sequencing, electrophoresis, mass spectrometry, and others. The polymerase chain reaction segment accounted for the highest market share in 2018 due to its irreplaceable nature. The application segment has been divided into infectious diseases, oncology, neurological diseases, cardiovascular diseases, pain management, psychiatry, and others. The end user segment has been divided into research institutions, hospitals and clinics, and academic institutes. The hospitals and clinics segment accounted for the highest market share in 2018 due to the presence of the latest molecular diagnostic infrastructure in hospitals.
|Report Attributes||Report Details|
|Report Name||Pharmacogenomics Market Research Report|
|Market Size in 2018||USD 5,712.5 Million|
|Market Forecast in 2025||USD 10,492.2 Million|
|Growth Rate||CAGR of 9.2%|
|Number of Pages||255|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Key Companies Covered||Dynamic DNA Laboratories, Abbott Laboratories, Empire Genomics, LLC, Illumina, Inc., F. Hoffmann-La Roche Ltd., Myriad Genetics Inc., OneOme LLC, Thermo Fisher Scientific, Inc., and OPKO Health, Inc. among others.|
|Segments Covered||By Technology, By Application, By End User, By Product, By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA)|
|Historical Year||2016 to 2018|
|Forecast Year||2019 - 2025|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
North America will be the leading region during the forecast period. The U.S. accounted for the highest share in the North American region due to the growing execution of pharmacogenomics and quick implementation of the latest healthcare technologies. Europe is likely to be the succeeding key market. The crucial reasons are the existence of skilled healthcare professionals and the increasing acceptance of personalized medicine. Asia Pacific will develop at the highest growth rate owing to the presence of the large patient group, rise in consciousness regarding pharmacogenomics, and high incidence of chronic diseases. Latin America region will propagate at a noteworthy rate through the assessment time. Middle East & Africa will show positive advancement in the projected time frame.
The report also includes detailed profiles of key players such as
By End User
The field of study known as pharmacogenomics investigates how the genetic make-up of an individual (genomics) affects how they react to medications (pharmacology). It brings together the disciplines of pharmacology and genomics in an effort to gain a better understanding of the ways in which changes in a person's genetic makeup might influence both their susceptibility to certain diseases and their response to various drugs. This information can then be utilized to adapt medication treatments to an individual's genetic profile, which ultimately results in therapies that are more effective and safer.
Factors such as growing implementation of pharmacogenomics practice, growing elderly population, growing adoption of tailored therapy, rapidly increasing frequency of chronic ailments, and growing frequency of adversarial reactions are the key driving factors in the development of global pharmacogenomics market.
According to the report, global demand for pharmacogenomics market was valued at approximately USD 5,712.5 million in 2018, and is expected to generate revenue of around USD 10,492.2 million by end of 2025, growing at a CAGR of around 9.2% between 2019 and 2025.
U.S. will be the leading country in the North America region owing to growing execution of pharmacogenomics and quick implementation of latest healthcare technologies.
The report also includes detailed profiles of key players such as Dynamic DNA Laboratories, Abbott Laboratories, Empire Genomics, LLC, Illumina, Inc., F. Hoffmann-La Roche Ltd., Myriad Genetics Inc., OneOme LLC, Thermo Fisher Scientific, Inc., and OPKO Health, Inc. among others.