Increasing prevalence of various chronic diseases, rising awareness and need for personalized medicines and therapies, and increasing research and development projects in the field are key factors driving market revenue growth.
Market Size - USD 6,188.3 Million in 2020, Market Growth - CAGR of 8.4%, Market Trends - Rising investments in research, development, and launch of personalized drugs to ensure appropriate outcome of taking drugs.
The global pharmacogenomics (PGx) market size is expected to reach USD 11.86 Billion in 2028, and register a CAGR of 8.4% during the forecast period. Growing demand for pharmacogenomics to develop drugs and treatment for various chronic diseases including cardiovascular diseases (CVD) and neurology, constant technological advancements in pharmaceutical sector, investments to ensure efficiency and safety of drugs, clubbed with increasing need for personalized drugs and treatment are some of the major factors expected to drive growth of the global pharmacogenomics (PGx) market.
Pharmacogenomics is a combined study of pharmacology and genomics which defines effects of genes on an individual’s response to specific drugs. This helps to develop safe and effective medications and measured doses that can be customized according to individual’s genetic makeup.
Some Key Findings From the Report:
For the purpose of this report, the global pharmacogenomics (PGx) market is segmented on the basis of products and services, technology, application, end use, and region:
Products and Services Outlook (Revenue, USD Billion; 2018 - 2028)
Technology Outlook (Revenue, USD Billion; 2018 - 2028)
Application Outlook (Revenue, USD Billion; 2018 - 2028)
End Use Outlook (Revenue, USD Billion; 2018 - 2028)
Region Outlook (Revenue, USD Billion; 2018 - 2028)
Reasons to Buy the Report
Market Size - USD 6,188.3 Million in 2020, Market Growth - CAGR of 8.4%, Market Trends - Rising investments in research, development, and launch of personalized drugs to ensure appropriate outcome of taking drugs.
The global pharmacogenomics (PGx) market size is expected to reach USD 11.86 Billion in 2028, and register a CAGR of 8.4% during the forecast period. Growing demand for pharmacogenomics to develop drugs and treatment for various chronic diseases including cardiovascular diseases (CVD) and neurology, constant technological advancements in pharmaceutical sector, investments to ensure efficiency and safety of drugs, clubbed with increasing need for personalized drugs and treatment are some of the major factors expected to drive growth of the global pharmacogenomics (PGx) market.
Pharmacogenomics is a combined study of pharmacology and genomics which defines effects of genes on an individual’s response to specific drugs. This helps to develop safe and effective medications and measured doses that can be customized according to individual’s genetic makeup.
Some Key Findings From the Report:
- Among the application segments, the oncology segment accounted for the largest revenue share of 32.1% in 2020.
- North America accounted for major revenue share in 2020, followed by Europe market.
- The Asia Pacific market size was USD 1,423.3 Million in 2020, due to increasing spending on R&D of personalized medication in order to cater to individual patients by understanding genomics.
- Key players profiled in the report 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. The market players have adopted various strategies including mergers, acquisitions, partnerships, and new product developments, among other strategies, to stay ahead of the competition and expand market footprint.
- In February 2020, Euformatics and bio.logis digital health GmbH formed alliance to work together on pharmacogenomics. This alliance was made to combine their respective informatics technologies to provide pharmacogenomic information for patients undergoing next-generation sequencing-based genetic testing.
For the purpose of this report, the global pharmacogenomics (PGx) market is segmented on the basis of products and services, technology, application, end use, and region:
Products and Services Outlook (Revenue, USD Billion; 2018 - 2028)
- Products
- Kits
- Assay & Reagents
- Instruments
- Software
- Services
- Genotyping
- SNP Identification
- Pharmacogenetics Testing
- Other Services
Technology Outlook (Revenue, USD Billion; 2018 - 2028)
- 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; 2018 - 2028)
- Oncology
- Infectious Diseases
- Neurology/Psychiatry
- Cardiovascular
- Others
End Use Outlook (Revenue, USD Billion; 2018 - 2028)
- Research Organizations
- Pharmaceutical Companies
- Diagnostic Centers
- Others
Region Outlook (Revenue, USD Billion; 2018 - 2028)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
Reasons to Buy the Report
- A robust analysis and estimation of the Pharmacogenomics (PGx) Market with four levels of quality check - in-house database, expert interviews, governmental regulation, and a forecast specifically done through time series analysis
- A holistic competitive landscape of the all the major players in the Pharmacogenomics (PGx) Market. The report covers their market shares, strategic initiatives, new product launches, R&D expenditure, M&As, Joint ventures, expansionary plans, product wise metric space analysis and key developments
- Go-to-market strategies specifically formulated in line with location analysis which takes into the factors such as government regulations, supplier mapping, supply chain obstacles, and feedback from local vendors
- Most deep dive segmental bifurcation available currently in the market. Our stellar methodology helps us understand the overall gamut of the supply chain and will help you explain the current market dynamics
- Special focus given on vendor landscape, supplier portfolio, customer mapping, production capacity, and yearly capacity utilization
Table of Contents
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Pharmacogenomics (PGx) Segmentation & Impact Analysis
Chapter 5. Pharmacogenomics (PGx) Market By Products & Services Insights & Trends
Chapter 6. Pharmacogenomics (PGx) Market By Technology Insights & Trends
Chapter 7. Pharmacogenomics (PGx) Market By Application Insights & Trends
Chapter 8. Pharmacogenomics (PGx) Market By End Use Insights & Trends
Chapter 9. Pharmacogenomics (PGx) Market Regional Outlook
Chapter 10. Competitive Landscape
Chapter 11. Company Profiles
Companies Mentioned
- 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