Rapid advancements in genomics, development of novel and state-of-the-art technologies in pharmaceutical sector, and rising focus on precision medicine are some key factors expected to drive Pharmacogenomics market growth.
Rapid advancements in genomics, development of novel and state-of-the-art technologies in pharmaceutical sector, and rising focus on precision medicine are some key factors expected to drive Pharmacogenomics market growth.
Emergen Research has recently published its latest report titled “Pharmacogenomics Market By Offering (Hardware, Software, Services), By Technology (Machine Learning, Natural Language Processing (NLP), Context-Aware Computing), By End-User Industry (Healthcare, Manufacturing, Agriculture, Automotive), and By Region Forecast to 2027.”
According to Emergen Research, the global pharmacogenomics market size was USD 6.16 billion in 2019 and is expected to reach USD 11.97 billion in 2027 and register a revenue CAGR of 8.7% during the forecast period.
Market Dynamics:
Pharmacogenomics is the use of genomic and other omic data to individualize drug selection and drug use to avoid adverse reaction and understand the influence of genetic variation on drug response in each individual. Pharmacogenomics aims to improve and optimize drug therapy in response with patient’s genotype to enhance efficacy and reduce side effects. The advent of personalized medicine, growing need to reduce adverse off-target effects and patient deaths, and development of targeted drug therapies to combat growing prevalence of chronic diseases across the globe are some key factors expected to drive market revenue growth over the forecast period.
Click Here to Access Free sample PDF Copy of the Report@ https://www.emergenresearch.com/request-sample/88
Pharmacogenomics combines conventional pharmaceutical sciences such as biochemistry with extensive repository of genes, proteins, and single nucleotide polymorphisms which in turn helps in developing targeted drugs that accelerate recovery time and increase safety. This is expected to further contribute to growing adoption of pharamcogenetic testing and this is another key factor expected to fuel revenue growth of the market going ahead. Pharmacogenomics can also assist in determining the dosages based on genetic makeup of an individual and this can maximize value of the therapy and decrease the probability of an overdose. In addition, pharmacogenomics can provide insights into severity and pathophysiology of certain genetic diseases and this knowledge can help in regular monitoring and introduction of treatments at the most appropriate stage to ensure maximum effectiveness of the therapy and this is expected to further contribute to market growth. However, lack of awareness and inaccessibility to advanced healthcare facilities in developing and underdeveloped countries can hamper market growth to a certain extent going ahead.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Kits Segment to Lead in Terms of Revenue Share:
Kits segment is expected to dominate other product and services segments in terms of revenue share over the forecast period attributable to increasing demand for kits from research organizations due to rapid rise in research activities, availability of robust testing kits, and cost-effective prices of kits.
Cardiovascular Segment to Register Rapid Revenue CAGR:
Increasing prevalence of cardiovascular disorders worldwide, increasing use of pharmacogenomics to tailor drug therapy, and rising focus on personalized medicine are some key factors contributing to revenue growth of the segment.
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Asia Pacific to Lead in Terms of Revenue Growth:
Asia Pacific market revenue to expand at a rapid revenue CAGR over the forecast period attributable to increasing advancements in healthcare sector, growing progress of pharmacogenomics, presence of large patient pool, increasing disposable income and rise in healthcare spending, development of robust healthcare and research facilities, increasing awareness regarding personalized medicine, and growing presence of key pharmaceutical companies in the region.
Major Companies in the Market 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.
- Laboratory Corporation of America Holdings
For the purpose of this report, Emergen Research has segmented 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
Have a look at Report Description and Table of Contents of Market Report@ https://www.emergenresearch.com/industry-report/pharmacogenomics-market
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
Explore Similar Reports offered by Emergen Research:
The global nutrigenomics market size reached USD 389.4 Million in 2020 and is expected to register a CAGR of 16.2% during the forecast period. Market revenue growth is primarily driven by increasing global burden of nutrition-related noncommunicable diseases.
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
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Read Full Press Release@ https://www.emergenresearch.com/press-release/global-pharmacogenomics-market
Rapid advancements in genomics, development of novel and state-of-the-art technologies in pharmaceutical sector, and rising focus on precision medicine are some key factors expected to drive Pharmacogenomics market growth.
Emergen Research has recently published its latest report titled “Pharmacogenomics Market By Offering (Hardware, Software, Services), By Technology (Machine Learning, Natural Language Processing (NLP), Context-Aware Computing), By End-User Industry (Healthcare, Manufacturing, Agriculture, Automotive), and By Region Forecast to 2027.”
According to Emergen Research, the global pharmacogenomics market size was USD 6.16 billion in 2019 and is expected to reach USD 11.97 billion in 2027 and register a revenue CAGR of 8.7% during the forecast period.
Market Dynamics:
Pharmacogenomics is the use of genomic and other omic data to individualize drug selection and drug use to avoid adverse reaction and understand the influence of genetic variation on drug response in each individual. Pharmacogenomics aims to improve and optimize drug therapy in response with patient’s genotype to enhance efficacy and reduce side effects. The advent of personalized medicine, growing need to reduce adverse off-target effects and patient deaths, and development of targeted drug therapies to combat growing prevalence of chronic diseases across the globe are some key factors expected to drive market revenue growth over the forecast period.
Click Here to Access Free sample PDF Copy of the Report@ https://www.emergenresearch.com/request-sample/88
Pharmacogenomics combines conventional pharmaceutical sciences such as biochemistry with extensive repository of genes, proteins, and single nucleotide polymorphisms which in turn helps in developing targeted drugs that accelerate recovery time and increase safety. This is expected to further contribute to growing adoption of pharamcogenetic testing and this is another key factor expected to fuel revenue growth of the market going ahead. Pharmacogenomics can also assist in determining the dosages based on genetic makeup of an individual and this can maximize value of the therapy and decrease the probability of an overdose. In addition, pharmacogenomics can provide insights into severity and pathophysiology of certain genetic diseases and this knowledge can help in regular monitoring and introduction of treatments at the most appropriate stage to ensure maximum effectiveness of the therapy and this is expected to further contribute to market growth. However, lack of awareness and inaccessibility to advanced healthcare facilities in developing and underdeveloped countries can hamper market growth to a certain extent going ahead.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Kits Segment to Lead in Terms of Revenue Share:
Kits segment is expected to dominate other product and services segments in terms of revenue share over the forecast period attributable to increasing demand for kits from research organizations due to rapid rise in research activities, availability of robust testing kits, and cost-effective prices of kits.
Cardiovascular Segment to Register Rapid Revenue CAGR:
Increasing prevalence of cardiovascular disorders worldwide, increasing use of pharmacogenomics to tailor drug therapy, and rising focus on personalized medicine are some key factors contributing to revenue growth of the segment.
Looking for Discount [Click on the link] @ https://www.emergenresearch.com/request-discount/88
Asia Pacific to Lead in Terms of Revenue Growth:
Asia Pacific market revenue to expand at a rapid revenue CAGR over the forecast period attributable to increasing advancements in healthcare sector, growing progress of pharmacogenomics, presence of large patient pool, increasing disposable income and rise in healthcare spending, development of robust healthcare and research facilities, increasing awareness regarding personalized medicine, and growing presence of key pharmaceutical companies in the region.
Major Companies in the Market 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.
- Laboratory Corporation of America Holdings
For the purpose of this report, Emergen Research has segmented 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
Have a look at Report Description and Table of Contents of Market Report@ https://www.emergenresearch.com/industry-report/pharmacogenomics-market
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
Explore Similar Reports offered by Emergen Research:
The global nutrigenomics market size reached USD 389.4 Million in 2020 and is expected to register a CAGR of 16.2% during the forecast period. Market revenue growth is primarily driven by increasing global burden of nutrition-related noncommunicable diseases.
The global Sanger sequencing services market size was significantly robust in 2020 and is expected to register steady revenue CAGR over the forecast period. Increasing advancements in sequencing techniques, benefits of Sanger sequencing, and rising investments to accelerate R&D activities in genomics are key factors expected to drive market revenue growth over the forecast period. In addition, increasing application scope of Sangers sequencing technique has boosted deployment of this procedure and is another key factor expected to further contribute to revenue growth of the market going ahead.
The global whole exome sequencing (WES) market size was significantly robust in 2020 and is expected to register a steady revenue CAGR during the forecast period. Rapid adoption of cutting-edge technologies, and rising awareness regarding whole exome sequencing technology are some key factors expected to drive market revenue growth over the forecast period.
The global health data archiving market size is expected to reach USD 9.28 Billion in 2028 and register a revenue CAGR of 14.1% during the forecast period. Increasing volume of digital data and rapid deployment of cloud-based storage solutions are key factors driving global health data archiving market revenue growth.
The global gel documentation system market size reached USD 291.5 Million in 2020 and is expected to register a revenue CAGR of 3.6% during the forecast period. Major factors driving gel documentation system market revenue growth are rising prevalence of infectious diseases and genetic disorders, and rapid developments and advancements across pharmaceutical and biotechnological industries globally.
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Visit for More Insights: https://www.emergenresearch.com/insights
Explore Our Custom Intelligence services | Growth Consulting Services
Read Full Press Release@ https://www.emergenresearch.com/press-release/global-pharmacogenomics-market