Research Report on Pharmacogenomics Market Business Opportunities, Challenges, Drivers and Restraints by 2027
Emerging research
Global Pharmacogenomics Market Expected to Reach USD 11.97 Billion by 2027
SURREY, BRITISH COLUMBIA, CANADA, April 23, 2022 /EINPresswire.com/ — Pharmacogenomics Market recently added a Forecast to 2027 report to its repository, which includes data related to market size, share, value and volume , production process, revenue generation, regional business vertical analysis, along with the results of analytical tools including SWOT analysis and Porter’s Five Forces analysis. The report highlights the growth opportunities and challenges that industry players may encounter over the forecast years, along with an elaborate competitive landscape and expansion strategies adopted by companies operating in the market.
The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. .
Rising incidence of bizarre adverse drug reactions and resistance to therapeutic treatments such as rising cases of antibiotic resistance are driving the market over 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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Pharmacogenomics is in high demand; hence, the research centers invest a handful of the amount in their R&D, which largely fuels the growth of the market. Pharmacogenomics can also help quickly identify the best drugs to treat people with certain mental health conditions. Cancer is another active area of pharmacogenomics 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 development and l use of drugs. Such benefits are expected to boost the market significantly over the forecast period.
Clinical trials are currently underway to find out if genetic tests that predict response to SSRIs can improve patient outcomes. Pharmacogenomics, the cornerstone of precision medicine, is proving effective for many conditions. The increase in R&D will have a great impact on the market in recent years.
Market dynamics:
The report offers insightful insights into market dynamics of the Pharmacogenomics Market. It offers SWOT analysis, PESTEL analysis and Porter’s Five Forces analysis to present a better understanding of the Pharmacogenomics market, competitive landscape, factors affecting it and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of regulatory framework on the Pharmacogenomics Market growth.
Software from the product and service segment is expected to have the largest market share. This is attributed to the widespread application of genomic data to effectively influence healthcare outcomes. Testing methods are improved and the public and healthcare professionals are made aware of the potential benefits of technological advances.
Pharmacogenomics by application includes oncology as one of the prospects expected to fuel the market growth. Pharmacogenomics is expected to help guide healthcare professionals to personalize the treatment of cancer patients, which will significantly contribute to the market.
Research organizations held a large share in 2019, due to their contribution to the field of research. This is a relatively new field that combines pharmacology and genomics to develop effective and safe drugs and doses that will be tailored to a person’s genetic makeup.
The major factors driving the growth of this market in the North American region are growing demand for personalized drugs, high medical reimbursement facilities, and technological advancements.
The main participants are 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.
Learn more: https://www.emergenresearch.com/industry-report/pharmacogenomics-market
Radical Highlights Of The Pharmacogenomics Market Report:
Comprehensive overview of the Pharmacogenomics market along with an analysis of changing market dynamics
Assessing the growth of various market segments throughout the forecast period
Regional and global analysis of market players including their market share and global position
Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
Impact of technological developments and R&D advancements on the Pharmacogenomics market
Information on money-making strategies and development strategies of major companies and manufacturers
Relevant information for new entrants wishing to enter the market
Details and information on business expansion strategies, product launches and other collaborations
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s five forces analysis, feasibility analysis, and investment return analysis.
For the purposes of this report, Emergen Research has segmented the global pharmacogenomics market on the basis of product and service, technology, application, end-use, and region:
Products and Services Outlook (Revenue, USD Billion; 2017-2027)
Some 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
Fluorescent In Situ Hybridization (FISH)
Chromogenic In Situ Hybridization (CISH)
Others
microchip
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
Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
WE
Canada
Europe
Germany
UK
France
BENELUX
The rest of Europe
Asia Pacific
China
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
AEM
Saudi Arabia
United Arab Emirates
Rest of MEA
Key questions addressed in the report:
Who are the key players dominating the global Pharmacogenomics market?
What factors could potentially hinder the growth of the global market during the forecast period?
Which regional market offers the most attractive growth opportunities for companies operating in this market?
How does the availability of raw materials affect the demand for pharmacogenomics in this industry vertical?
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