DUBLIN, November 23, 2022 /PRNewswire/ — Added the Pharmacogenomics Global Market Report 2022 ResearchAndMarkets.com Offer.
The global pharmacogenomics market is expected to continue growing $6.64 billion in 2021 to $7.23 billion in 2022 at a compound annual growth rate (CAGR) of 8.93%. It is expected to reach the pharmacogenomics market $10.51 billion in 2026 at a compound annual growth rate (CAGR) of 9.80%.
The increasing demand for precision medicine is driving the demand for the pharmacogenomics market. Precision medicine is a medical model that proposes an individual customization of healthcare, with medical decisions, treatments, practices, or products tailored to a subset of patients rather than one model that fits all.
The demand for precision medicine is increasing as it is the most advanced in oncology and has broader, exciting applications beyond oncology and late-stage diseases such as rare and genetic diseases. The main goal of precision medicine is to integrate genetic and environmental information about specific diseases and/or their responses to specific treatments.
For example, according to the article published on Linchpinseo in March 2022, the increasing demand for investment in precision medicine from leading pharmaceutical companies will increase by 1/3 in the next five years. Also in United States of America, 30 million people will be diagnosed and treated with type 2 diabetes, where precision medicine will provide individualized treatment and recalibrate current treatment practices. Therefore, the increasing demand for precision medicine will drive the pharmacogenomics market.
Technological advancement is a major trend gaining popularity in the pharmacogenomics market. Drug manufacturers are focusing on different approaches to pharmacogenomic analysis to provide cost-effective solutions for screening known polymorphisms and discovering new variants.
The Countries Covered in Pharmacogenomics Market Report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South KoreaGreat Britain and United States of America.
scope of the report
The pharmacogenomics marker consists of the sale by entities (organizations, sole proprietorships and partnerships) of pharmacogenomics tests related to an accurate medical treatment for each individual or group of individuals. Pharmacogenomics is a field of research that studies how a patient’s genes affect and how they respond to drugs.
The long-term goal of pharmacogenomics is to help physicians choose the most appropriate drugs and dosages for each individual. Pharmacogenomics is used to design tailored medicines to treat a variety of health conditions, including cardiovascular disease, Alzheimer’s, cancer and asthma.
The major technologies used in the pharmacogenomics market are next-generation sequencing (NGS), polymerase chain reaction, gel electrophoresis, mass spectrometry, microarray, and other technologies. NGS is a massively parallel sequencing technology that offers ultra-high throughput, scalability, and speed.
The technology is used to determine nucleotide order in entire genomes or specific regions of DNA or RNA. Pharmacogenomics applications include neurology, drug discovery, oncology, cardiology, pain management, and other applications. End users included hospitals and clinics, research institutions and academic institutes.
North America was the largest region in pharmacogenomics market in 2021. Asia Pacific is expected to be the fastest growing region during the forecast period. The Regions Covered in Pharmacogenomics Market Report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, middle East and Africa.
Major Players in Pharmacogenomics Market are
Beckon Dickinson and companies
F. Hoffmann-La Roche AG
Myriad Genetics Inc
Thermo Fisher Scientific Inc
OPKO Health Inc
Assurex Health Inc
Empire Genomics LLC
Future Science Group
Pathway Genomics Corporation
Main topics covered:
2. Characteristics of Pharmacogenomics Market
3. Pharmacogenomics Market Trends and Strategies
4. Impact of COVID-19 on pharmacogenomics
5. Pharmacogenomics Market Size and Growth
5.1. Historical Global Pharmacogenomics Market, 2016-2021, billion US$
5.1.1. drivers of the market
5.1.2. restrictions in the market
5.2. Global Pharmacogenomics Prognostic Market, 2021-2026F, 2031F, $Billion
5.2.1. drivers of the market
5.2.2. restrictions in the market
6. Pharmacogenomics Market Segmentation
6.1. Global Pharmacogenomics Market, Segmentation by Technology, Historical and Forecast, 2016-2021, 2021-2026F, 2031F, Billion US$
6.2. Global Pharmacogenomics Market, Segmentation by Distribution Channel, Historical and Forecast, 2016-2021, 2021-2026F, 2031F, US$ Billion
6.3. Global Pharmacogenomics Market, Segmentation by Applications, History and Forecast, 2016-2021, 2021-2026F, 2031F, US$ Billion
6.4. Global Pharmacogenomics Market, Segmentation by End-User, Historical and Forecast, 2016-2021, 2021-2026F, 2031F, Billion US$
hospitals and clinics
7. Regional and country analysis of the Pharmacogenomics Market
7.1. Global Pharmacogenomics Market Split by Region, Historical and Forecast, 2016-2021, 2021-2026F, 2031F, Billion US$
7.2. Global Pharmacogenomics Market Split by Country, Historical and Forecast, 2016-2021, 2021-2026F, 2031F, Billion US$
For more information about this report, visit https://www.researchandmarkets.com/r/pmvrwf
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SOURCE Research and Markets