The Pharmacogenomics Global Market Report 2023 by The Business Research Company, provides pharmacogenomics market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Pharmacogenomics Global Market Report 2023, the market size is expected to grow from$7.26 billion in 2022 to $7.97 billion in 2023 at a compound annual growth rate (CAGR) of 9.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the pharmacogenomics market is expected to grow to $11.67 billion in 2027 at a CAGR of 10.0%.
The rising demand for precision medicine is driving the demand for the pharmacogenomics market. Precision medicine is a medical model that proposes healthcare customization, with medical decisions, treatments, practices, or products tailored to a subset of patients rather than a one drug fits all model. There is rising demand for precision medicine as it is the most advanced in oncology, having wider, exciting applications beyond oncology and late-stage disease such as rare and genetic diseases. The main aim of precision medicine is to integrate genetic and environmental information about particular diseases and/or their responses to particular treatments.
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The pharmacogenomics market is segmented:
1) By Technology: Next Generation Sequencing, Polymerase Chain Reaction, Gel Electrophoresis, Mass Spectrometry, Microarray, Other Technologies
2) By Distribution Channel: Hospital Pharmacy, Online Pharmacy, Retail Pharmacy
3) By Applications: Neurology, Drug Discovery, Oncology, Cardiology, Pain Management, Other Applications
4) By End User: Hospitals And Clinics, Research Institutions, Academic Institutes
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 pharmacogenomics market report table of contents includes:
1. Executive Summary
2. Pharmacogenomics Market Characteristics
3. Pharmacogenomics Market Trends And Strategies
4. Pharmacogenomics – Macro Economic Scenario
5. Pharmacogenomics Market Size And Growth
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26. Africa Pharmacogenomics Market
27. Pharmacogenomics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Pharmacogenomics Market
29. Pharmacogenomics Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Abbott Laboratories
- AstraZeneca plc
- Becton Dickinson and Company
- Bayer AG
- F Hoffmann-La Roche AG
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