The global Pharmacogenomics Market is expected to reach USD 11.97 Billion by 2027

SURREY, BRITISH COLUMBIA, CANADA , April 14, 2022 /EINPresswire.com/ -- The latest and updated research report on the Global Pharmacogenomics Market covers a comprehensive overview of the Pharmacogenomics market, future economic condition, competitive landscape mapping, supply and demand trends, and production and consumption analysis. The report also covers the influence of the COVID-19 pandemic on the Pharmacogenomics market. The pandemic has dynamically affected all aspects of life on a global scale along with drastic changes in the economy and market conditions. The report covers the currently fluctuating market scenario along with present and future assessment of the COVID-19 impact. The report encompasses the historical data, company overview, financial standing, and necessary information about the new and key players of the market.

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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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.

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.

The global pharmacogenomics (PGx) market is growing at a substantial pace owing to the growing demand for personalized therapy, increasing prevalence of target chronic diseases, technological advancements, favorable government initiatives, availability of financial support for research and development.

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.

The latest research report by emergen research, named ‘Global Pharmacogenomics Market – Forecast to 2027’, entails a comprehensive review of the global Pharmacogenomics market’s present and future trends. The report gathers viable information on the most established industry players, sales and distribution channels, regional spectrum, estimated market share and size, and revenue estimations over the forecast timeframe. The study is inclusive of a profound analysis of this business sphere focuses on the overall remuneration of the market over the projected period. The study also includes significant information pertinent to the Pharmacogenomics industry, particularly the current COVID-19 scenario.

Furthermore, the report is attuned with the latest market changes and economic landscape with regard to the currently unfolding COVID-19 pandemic. The crisis has affected the demand and supply pattern, as well as the trends of the industry. It has also brought an economic slowdown that has affected the business of the key manufacturers of the industry. The report estimates the impact of this crisis on the current scenario and future prospects and provides a post-COVID market scenario.

Pharmacogenomics Market research report depicts the latest market scenario with updated trends and segmentation of the products and services. The study provides crucial information on the market situation, size, share, growth factors of the Pharmacogenomics

Market Taxonomy:

Chapter 1: Methodology & Scope

Definition and forecast parameters
Methodology and forecast parameters
Data Sources

Chapter 2:

Executive Summary

Business trends
Regional trends
Product trends
End-use trends

Chapter 3:

Industry Insights

Industry segmentation
Industry landscape
Vendor matrix
Technological and innovation landscape

Chapter 4:

Regional Landscape

Chapter 5:

Company Profile

Business Overview
Financial Data
Product Landscape
Strategic Outlook
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis

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.

Read More: https://www.emergenresearch.com/industry-report/pharmacogenomics-market

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)

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

The report considers the following timeline for market estimation:

Historical Years: 2017-2018

Base Year: 2019

Estimated Year: 2027

Forecast Years: 2020-2027

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