The global Pharmacogenomics Market is expected to reach USD 11.97 Billion by 2027
SURREY, BRITISH COLUMBIA, CANADA , April 23, 2022 /EINPresswire.com/ — Pharmacogenomics Market has recently added a report Forecast to 2027 to its repository, which comprises of data relating to the market size, share, value, and volume, production processes, revenue generation, the regional analysis of the business vertical, along with the outcomes of analytical tools including, SWOT analysis and Porter’s Five Forces analysis. The report highlights the growth opportunities and challenges that industry players might encounter in the forecast years, along with an elaborate competitive landscape and expansion strategies adopted by the companies functioning in the Market.
The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others.
Rising incidences of bizarre adverse drug reactions and resistance to the therapeutic treatments, such as increasing cases of antibiotic resistance cases, is driving the market during the forecast period.
Pharmacogenomics Market Size – USD 6.16 billion in 2019, Market Growth – CAGR of 8.7%, Market trends – Growing demand for personalized therapy.
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Pharmacogenomics has high demand; therefore, research centers invest a handful of the amount in their R&D, which fuels up the market growth by a large margin. Pharmacogenomics also may help to quickly identify the best drugs to treat people with certain mental health disorders. Cancer is another active area of pharmacogenomic research. Whether fighting a unique and fast-spreading disease like the novel coronavirus or treating a well-known common condition, genomics is increasingly being used to inform more personalized and cost-effective strategies for drug development and use. Such advantages are expected to foster the market significantly during the forecast period.
Clinical trials are now underway to learn whether genetic tests that predict SSRI response can improve patients’ outcomes. Pharmacogenomics, a cornerstone of precision medicine, is proving successful for many conditions. Increasing R&D will impact the market substantially in recent years.
The report offers insightful information about the market dynamics of the Pharmacogenomics market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Pharmacogenomics market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Pharmacogenomics market.
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.
Radical Highlights of the Pharmacogenomics Market Report:
Comprehensive overview of the Pharmacogenomics market along with analysis of the changing dynamics of the market
Growth Assessment of various market segments throughout the forecast period
Regional and global analysis of the market players, including their market share and global position
Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
Impact of the technological developments and R&D advancements on the Pharmacogenomics market
Information about profit-making strategies and developmental strategies of major companies and manufacturers
Insightful information for the new entrants willing to enter the market
Details and insights about business expansion strategies, product launches, and other collaborations
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
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)
Assays and Reagents
Technology Outlook (Revenue, USD Billion; 2017-2027)
Polymerase Chain Reaction (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)
Regional Outlook (Revenue, USD Billion; 2017-2027)
Rest of Europe
Rest of APAC
Rest of LATAM
Rest of MEA
Key questions addressed in the report:
Who are the leading players dominating the global Pharmacogenomics Market?
Which factors could potentially hamper the global market growth during the forecast period?
Which regional market offers the most attractive growth opportunities to the companies operating in this market?
How is the raw material availability affecting the demand for Pharmacogenomics in this industry vertical?
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