Pharmacogenomics Market Study on the Leading Trends, Global Analysis, Forecast, and Opportunities for 2027
The global Pharmacogenomics Market is expected to reach USD 11.97 Billion by 2027, according to a new report by Emergen Research. The global pharmacogenomics (PGx) market is growing at a substantial pace owing to the growing demand for personalized therapy, the increasing prevalence of target chronic diseases, technological advancements, favorable government initiatives, and the availability of financial support for research and development.
The top competitors in the market, their expansion ambitions, and their growth strategies are all carefully examined in the Pharmacogenomics Market report. The archive particularly exhorts businesspeople to look for information about and instructions for potential customers. The review, which only highlights the greatest sellers, helps business owners understand their local market and find potential customers.
Pharmacogenomics has high demand; therefore, research centers invest a handful of the amount in their R&D, which fuels market growth by a large margin. Pharmacogenomics may also 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.
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Competitive Landscape:
The latest study provides an insightful analysis of the broad competitive landscape of the global Pharmacogenomics market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Pharmacogenomics market and pinpoint the fundamental growth trends.
The leading market contenders listed in the report 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
Global Pharmacogenomics Market Highlights:
Regional demand estimation and forecast
Product Mix Matrix
R&D Analysis
Cost-Benefit Analysis
Pre-commodity pricing volatility
Supply chain optimization analysis
Technological updates analysis
Raw Material Sourcing Strategy
Competitive Analysis
Mergers & Acquisitions
Location Quotients Analysis
Carbon Footprint Analysis
Patent Analysis
Vendor Management
Key Parameters Analyzed in This Section:
Company Profiles
Gross Revenue
Profit margins
Product sales trends
Product pricing
Industry Analysis
Sales & distribution channels
Regional Segmentation:
North America
Latin America
Europe
Middle East & Africa
Asia Pacific
Key Points Covered in This Section:
Regional contribution
Estimated revenue generation
Vital data and information about the consumption rate in all the leading regional segments
An expected rise in market share
Forecast growth in the overall consumption rate
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Some Key Highlights from the Report
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.
Research organizations held a significant share in 2019, owing to its contribution to the research field. It is a relatively new field that combines pharmacology and genomics to develop effective, safe medications and doses that will be tailored to a person’s genetic makeup.
The major driving factors for the growth of this market in the North American region is the rising demand for personalized medicines, high medical reimbursement facilities, and technological advancement.
Market Overview:
The report bifurcates the Pharmacogenomics market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
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
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Key reasons to buy the Global Pharmacogenomics Market report:
The latest report comprehensively studies the global Pharmacogenomics market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
The report offers an insightful analysis of the regional outlook of the market.
It offers a detailed account of the end-use applications of the products services offered by this industry.
The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
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