The Global Pharmacogenomics (P G x) Market size is forecasted to reach USD 11.01 billion from USD 5.66 billion in 2019, delivering a CAGR of 8.7% through 2027. The market growth is driven by the increasing prevalence of chronic diseases, expanding research and development activities, rising patient awareness, and an associated demand for personalized therapy.
Pharmacogenomics is the study of the effect of individual genetic make-up, which indicates the therapeutic effect of the medication on a specific patient. Genetic variation is directly linked to the effects on the human body. Pharmacogenomics testing is witnessing massive adoption in medical settings for supplementing translational and pharmaceutical research.
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The increasing use of the patient-specific treatment by healthcare professionals to minimize severe adverse reactions of medication that varies from person to person tremendously will boost the pharmacogenomics market growth over the coming years. The increasing emphasis on a patient-specific approach for the treatment of chronic diseases and the study of factors that can impact treatment like genetic factors is influencing the desired action of medication in the modern medical landscape. Growing preference for pharmacogenomics testing by physicians to choose better-suited treatment for the particular patient to attain a better therapeutic effect will foster the global pharmacogenomics market share through 2027.
Top Companies Profiled in the Report Include:
Dynamic DNA Laboratories
Hoffmann-La Roche Ltd
geneOmbio Technologies Pvt Ltd.
The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.
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The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, R&D activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.
The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the Pharmacogenomics (PGx) market in these key regions.
Country-wise regional analysis covers:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Additionally, the report consists a detailed analysis of the segmentation of the Pharmacogenomics (PGx) market based on product types and end-use/application offered in the Pharmacogenomics (PGx) market.
Products and Services Outlook (Revenue, USD Billion; 2017-2027)
Assay & Reagents
Technology Outlook (Revenue, USD Billion; 2017-2027)
Polymerase Chain Reaction (PCR)
Real Time PCR
DNA Sequencing/Next Generation Sequencing (NGS)
Nucleic Acid Amplification Tests (NAATs)
Fluorescence In Situ Hybridization (FISH)
Chromogenic In Situ Hybridization (CISH)
Application Outlook (Revenue, USD Billion; 2017-2027)
End-Use Outlook (Revenue, USD Billion; 2017-2027)
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