Pharmacogenomics Global Market Report 2024

The pharmacogenomics market size has grown rapidly in recent years. It will grow from $8.14 billion in 2023 to $9.04 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The expansion observed in the historical period can be attributed to robust economic growth in emerging markets, a growing emphasis on personalized medicine, the development of advanced healthcare infrastructure, and an increase in healthcare expenditure.

The pharmacogenomics market size is expected to see rapid growth in the next few years. It will grow to $13.48 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The anticipated growth in the forecast period can be attributed to factors such as the increasing aging population, a rise in chronic diseases, a growing overall population, and an increasing demand for cancer treatment. Key trends expected in the forecast period include the launch of genome editing solutions for a more in-depth analysis of advanced therapies, a focus on integrating artificial intelligence (AI) in genomics for the analysis of genetic data, continuous advancements in metagenomics, strategic partnerships and collaborations among market players, the introduction of three-dimensional (3D) genomics to study influences on gene expression and function, new product innovations with a focus on infectious diseases and gene editing, and the development of psychotropic pharmacogenomics tests for informed decision-making.

The growing demand for precision medicine is fueling the expansion of the pharmacogenomics market. Precision medicine, a healthcare model focused on personalized treatment tailored to specific patient subsets, is gaining traction, especially in advanced areas such as oncology. Its applications extend beyond late-stage diseases to encompass rare and genetic conditions. Precision medicine aims to integrate genetic and environmental information to tailor treatments for specific diseases and responses. A Linchpinseo article from March 2022 indicates a 1/3 increase in precision medicine investment by leading pharmaceutical companies over the next five years. In the USA, where 30 million people with type 2 diabetes are diagnosed and treated, precision medicine offers individualized treatment, reshaping current practices. The rising demand for precision medicine is a key driver propelling the pharmacogenomics market.

The pharmacogenomics market is expected to experience growth due to the increasing prevalence of chronic diseases. Chronic diseases, persistent over an extended period, pose a significant global health challenge. Pharmacogenomics provides a personalized treatment approach, considering individual genetic variations influencing drug responses. According to the World Health Organization's September 2023 report, non-communicable diseases (NCDs) or chronic diseases account for 74% of the 41 million annual deaths worldwide. Cardiovascular diseases, cancer, chronic respiratory diseases, and diabetes contribute significantly to this burden. The upward trend in chronic diseases is a major factor propelling the pharmacogenomics market.

A noteworthy trend in the pharmacogenomics market is technological advancement. Medicine manufacturers are actively pursuing various approaches to pharmacogenomics analysis, aiming to offer cost-effective solutions for screening known polymorphisms and discovering novel variants. In May 2021, Integrated Prescription Management (IPM), a U.S.-based pharmacy benefits management (PBM) company, collaborated with Myriad Genetics Inc. to launch the GeneSight test. This pharmacogenomics testing solution targets patients dealing with depression or anxiety, showcasing technological advancements in precision medicine.

Companies in the pharmacogenomics market are concentrating on the development of innovative solutions for infectious disease diagnosis and gene editing to fortify their market standing. For instance, in March 2022, Thermo Fisher Scientific Inc., a U.S.-based supplier of analytical instruments and life sciences solutions, introduced the latest generation of its SeqStudio Flex Series Genetic Analyzer. This innovative tool, leveraging Capillary Electrophoresis (CE) technology, enhances research in infectious disease diagnosis and gene editing. The SeqStudio Flex Genetic Analyzer, available in 8- and 24-capillary configurations, delivers high-quality data and reliable performance across various applications.

In June 2023, Genomenon, a U.S.-based genomics intelligence company, acquired Boston Genetics for an undisclosed amount. This strategic acquisition combines Genomenon's AI-powered genomic platform with Boston Genetics' genetic scientists to comprehensively curate the human genome. The acquisition strengthens clinical diagnostic and pharmaceutical drug development programs by providing valuable insights into the genomic drivers of genetic diseases and oncology. Additionally, it establishes a genomics data service arm for Genomenon, offering cost-effective variant curation team extensions for genetic testing labs, expediting turnaround times. Boston Genetics, a genomics interpretation and curation company based in the U.S., is part of this acquisition.

Major companies operating in the pharmacogenomics market report are Illumina Inc., Eurofins Scientific, Myriad Genetics Inc., PerkinElmer Inc., Centogene N.V, Invitae Corporation, Genomind, Pacific Biosciences of California Inc., Oneome LLC, Admera Health, MapMyGenome, Positive Bioscience, Xcode Life Sciences, Xcelris Labs, Takeda Pharmaceutical Company Limited, Garvan Institute of Medical Research, 3D Medicines Inc., Berry Genomics, BGI, GenomiCare Biotechnology, Biotecan Pharmaceuticals, Bayer AG, GlaxoSmithKline plc (GSK), F Hoffmann-La Roche AG, Merck KGaA, Future Science Group, QIAGEN N.V, Institute of Biomedical Chemistry, Centro de Genoma e Biologia de Sistemas (CGBS), Dasa Group, Datar Cancer Genetics Limited, MedGenome Labs, AnorMed, 23andMe, Myriad Genetics, Color Genomics, Pathway Genomics, Laboratório Richet, Laboratório Exame, Genomika Diagnósticos, Gulf Pharmaceutical Industries JULPHA, Neopharm, NewBridge Pharmaceuticals Limited, EIPICO (Egyptian International Pharmaceutical Industries Company), Aspen Pharmacare Holdings Limited, Pharma-Q (Pty) Ltd.

North America was the largest region in the pharmacogenomics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pharmacogenomics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the pharmacogenomics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

Key technologies employed in the pharmacogenomics market include next-generation sequencing (NGS), polymerase chain reaction, gel electrophoresis, mass spectrometry, microarray, and others. NGS, a massively parallel sequencing technology, offers ultra-high throughput, scalability, and speed, enabling the determination of nucleotide order in entire genomes or specific DNA/RNA regions. Pharmacogenomics applications span neurological diseases, infectious diseases, oncology, cardiovascular diseases, pain management, and various other areas. End-users encompass hospitals and clinics, research institutions, academic institutes, and others.

The pharmacogenomics market research report is one of a series of new reports that provides pharmacogenomics market statistics, including pharmacogenomics industry global market size, regional shares, competitors with a pharmacogenomics market share, detailed pharmacogenomics market segments, market trends and opportunities, and any further data you may need to thrive in the pharmacogenomics industry. This pharmacogenomics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The pharmacogenomics market includes revenues earned by entities by PennCNV,QuantiSNP, GenoCN and Nexus.The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.


The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.