Pharmacogenomics (PGx) Market

Pharmacogenomics (PGx) Market Size by Technology (Polymerase Chain Reaction (PCR), DNA Sequencing/Next Generation Sequencing (NGS), Nucleic Acid Amplification Tests (NAATs), Mass Spectrometry, Gel Electrophoresis, Hybridization, Microarray), Application (Pain Management, Oncology, Infectious Diseases, Neurology/Psychiatry, Cardiovascular), End-User, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2028

Base Year: 2020 Historical Data: 2018-19
  • Report ID: TBI-12517
  • Published Date: Oct, 2021
  • Pages: 218
  • Category: Healthcare
  • Format: PDF
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Global pharmacogenomics (PGx) market is expected to reach USD 11.63 billion by 2028, at a CAGR of 7.0% from 2021 to 2028. Global pharmacogenomics (PGx) market is witnessing a considerable growth owing to increasing incidences of chronic conditions.

Market Overview:

Pharmacogenomics (PGx), is the analysis of how humansreact differently to a drug treatment based upon their individual genetic makeup. The pharmacogenomics is part of the field of precision medicine, which aims to treat each patient individually. It uses genomic information to study individual responses to drugs and helps doctors to selectthe an ideal drug for different patients. Customizing every patient's medicationsconsidering their genetic characteristics can replace the age old approach of dosage and drug selection that is commonly used today. The Food and Drug Administration (FDA) supervises and monitors all drugs and medicines-related activities in the United States. Presently, over two fifty prescription medications contain pharmacogenetics information in their FDA approved labels. The label's report includes the identification of biomarkers – the primary measurable indicators associated with a patient's specific condition, which helps to identify targeted drug therapy particular for that genetic variations as well as list the genetic abnormality which may influence how a drug is broken down or metabolized in the body. The information helps the physicians to offer the personalized medicines to the patients based on their genetics and possible side effects. 

Many Pharmaceutical companies are heavily investing in the development of personalized medicines based on people genetics information. Pharmacogenomics is anticipated to offer various growth opportunities for the biotech and pharmaceutical companies for the innovation in the drug development.However, pharmacogenomics market is still in its infancy phase, and its use is currently quite limited, but new approaches are under study in clinical trials. In the future, pharmacogenomics will allow the development of tailored drugs to treat a wide range of health problems, including cancer, cardiovascular disease, Alzheimer disease, HIV/AIDS, and asthma.

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Market Dynamics:

Drivers:
  • Increasing demand for personalized medicines 

Personalized medicine has the potential to improve healthcare through therapies tailored more specifically for the needs of the patients. It helps to reduce the side effects of the drugs, which is not suitable for every patient. Pharmacogenomics (PGx) has been widely recognized as one of the most key processes for the development of personalized medicines. Thus, growing demand for personalized drugs across the globe, driving the growth of the market during the forecast period. 

  • Rising prevalence of chronic diseases

The burden of chronic diseases is rapidly growing worldwide. These are the leading cause of death across the globe. For instance, WHO estimates that, by 2020, chronic diseases will account for almost three-quarters of all deaths worldwide, and that 71% of deaths due to ischaemic heart disease (IHD), 75% of deaths due to stroke, and 70% of deaths due to diabetes will occur in developing countries. Some of the most prominent chronic diseases – cancer, cardiovascular diseases, chronic obstructive pulmonary disease and type two diabetes. Pharmacogenomics is extensively used in chronic indications like cancer for the diagnosis or prevention, treatment, infectious diseases, cardiovascular diseases and others. Rising geriatric population is leading to growing incidences of chronic diseases and aggregate demand for healthcare system for developed treatments. Thus, the rising prevalence of chronic diseases across the globe, boosting the growth of the market. 

Restraints:
  • Ethical issues 

There are many ethical problems restraining the growth of the market. This is because pharmacogenomics offers designer drugs suitable for individual patient, which is expensive, causing many poor and disadvantaged people and countries unable to get top-level care. This is likely to result in increasing the disparity between the affluent and poor. The other major ethical issue is the usage of genetically modified animals to create human drugs, raising the question of inhumane treatment of the animals. Thus, various ethical issues is anticipated to hamper the market growth over the forecast period.

Opportunities:
  • Rising research and development activities for the development of new therapies  

Increasing research and development activities in pharmacogenomics sector is anticipated to offer future growth opportunities in the market. This sector is still in the infancy stage, and thus, various research studies are going on, such as next-generation sequencing, real-time PCR, microarray, and others in the pharmacogenomics field. 

Challenges:
  • Lack of skilled personnel could hamper the market growth

Educating healthcare professionals about every drug is one of the critical challenges in the pharmacogenomics market. The problem with pharmacogenomics is that there will be 100's if not 1000's of very similar drugs on the market with only slight alterations depending on every patient's genetic code. This will significantly complicate the process of handing out and choosing prescriptions, which may hamper the growth of the market.

Segmentation Analysis:

The global pharmacogenomics (PGx) market has been segmented based on technology, application, end-user and regions.

  • The technology segment includes polymerase chain reaction (PCR), DNA sequencing/next-generation sequencing (NGS), nucleic acid amplification tests (NAATs), mass spectrometry, gel electrophoresis, hybridization, microarray, and others. The polymerase chain reaction (PCR) segment dominated the market and valued at USD 2.82 billion in 2020. PCR is one of the widely used technology in the pharmacogenomics, and it represents an innovative method for the development of personalized, safer and cost-effective therapy. PCR offers unique benefits such as higher sensitivity, reproducibility and precision, ease of quantification, rapid analysis, better control of quality in the process and a lower risk of contamination. 
  • The application segment includes pain management, oncology, infectious diseases, neurology/psychiatry, cardiovascular, and others. The oncology segment accounted for the major market share of 36.5% in 2020, and it is anticipated to maintain its position throughout the forecast period. This is mainly due to increasing the prevalence of cancer across the globe. Pharmacogenomics has already been applied to predict cancer susceptibility, tumour progression and recurrence, patient survival, and response to and toxicity associated with traditional chemotherapy treatments. However, infectious disease segment is expected to grow at the highest CAGR of 9.6% over the forecast period. The therapeutic management of contagious diseases has been challenged by the soaring phenomenon of antibiotic resistance, the high rate of which is mainly due to improper prescription and use of antimicrobials. Personalized medicine for infectious diseases is an emerging concept, which is boosting the growth of this segment over the forecast period.
  • The end-user segment is divided into a research organization, hospitals, diagnostic centres, academic institutes, and others. The hospital segment held the major market share of 35.8% in 2020. Many hospitals have rolled out the pharmacogenomics programs in the hospitals for the treatment such as oncology and neurology/psychiatry, among others. Pharmacogenomics (PGx) testing is gaining recognition from physicians, patients, and pharmacists as a tool for evidence-based medication management. Currently, fewer than 20% of U.S. hospitals use pharmacogenomics testing, but the American Society for Health-System Pharmacists (ASHP) Foundation predicts that most U.S. regions will have a formal hospital pharmacogenomics program within the next five years. 
Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. The North America region emerged as the largest market for the pharmacogenomics (PGx) market, with a 41.3% share of the market revenue in 2020.

  • This is because North America is growing tremendously in terms of the healthcare industry. North America region has become the hub for the technological development and transformation of the industry. Due to the presence of several technical and pharmaceutical players in countries like Canada and the U.S., North America is projected to dominate the global pharmacogenomics (PGx) market on geographical front. In addition to this, many hospitals have been using pharmacogenomics in the clinical practice, from the past few years, further boosting the growth of the market in the region. 
  • The Asia Pacific region is one of the prominent regions in the global pharmacogenomics market, owing to growing awareness among the physicians and drug developers in the region. China and Taiwan, India, Japan and South Korea are some of the prominent countries in the growth of pharmacogenomics market in the Asia Pacific region. In addition to this, rising research and development activities and increasing funds from the government for the development of innovative therapies in the healthcare field, further fuelling the growth of the market in the region. 

North America Pharmacogenomics (PGx) Market Share in 2020- 41.3%

 

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Competitive Analysis:

The leading players in this industry are now coming up with the new-age strategies such as adopting product innovations,new technology, mergers &acquisitions, alliances& partnerships, and joint venture to improve their market position in the worldwide pharmacogenomics (PGx) industry.

In November 2019, Agena Bioscience, LLC, announced the release of the VeriDose CYP2D6 CNV panel designed to provide PGx testing programs with a more accurate and efficient way to analyze CYP2D6 copy number.

In January 2020, Illumina, Inc. announced 15 years partnership with the Roche, drug and diagnostics maker company, to increase the availability of genomic testing to patients with cancers and to broaden adoption of distributable next-generation sequencing-based testing in oncology.

List of Key Market Players:

  • Abbott Laboratories
  • AstraZeneca PLC
  • Admera Health, LLC
  • Biomerieux
  • Agena Biosciences, Inc.
  • Bayer AG
  • Cancer Genetics, Inc.
  • F. Hoffmann-La Roche Ltd
  • Dynamic DNA Laboratories
  • geneOmbio Technologies Pvt Ltd.
  • Qiagen
  • Genomic Health, Inc.
  • Illumina, Inc.
  • Laboratory Corporation of America Holdings
  • Bio-Rad Laboratories Inc.

Key Target Audience

  • Healthcare Institute
  • Drug Manufacture
  • Pharmaceutical Companies
  • Government Authorities and R&D Institutions
  • World Health Organization
  • Food and Drug Administration
  • Consulting And Research Firm

Report Description:

  • Global Pharmacogenomics (PGx) Market, Industry Analysis, Trends, Analysis and Forecast, 2021 to 2028 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2020 is considered as the base year of the report. 2018 and 2019 are considered as the historic years and 2021 to 2028 are the forecast years. The global pharmacogenomics (PGx) market is based on revenue (USD Million/Billion). The report incorporates the market study on the basis of revenue and volume. The study covers the market share revenue/market share for each of the segments, regions and countries catering to global pharmacogenomics (PGx) market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses with the relative data & information, which have been validated by the leading industry professionals and experts all across the globe. The research report also delivers an outline of the attractiveness of pharmacogenomics (PGx) and regions which are deduced and formulated on the basis of their growth rate (CAGR), market size, and attractiveness by analyzing the present and future prospects to market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global pharmacogenomics (PGx) market. This offers vital and in depth insights in order to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global pharmacogenomics (PGx) market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development &innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario. 
  • The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis so as to provide business related data and information’s. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company growth and development in order to sustain and survive in the long run.
  • Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which act as a key potential for the investors. 
  • Potential growth prospects along with the penetration rate analysis of the products (market related i.e., global pharmacogenomics (PGx) market is covered in order to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the pharmacogenomics (PGx) market was valued at USD 6.73 billion in 2020 and is anticipated to reach USD 11.63 billion by 2028.

Global pharmacogenomics (PGx) market is growing at a CAGR of 7.0% during the forecast period 2021-2028.

Theglobal pharmacogenomics (PGx) market has been segmented based on technology, application, end-user and regions. The polymerase chain reaction (PCR) segment accounted for the major market share in 2020.

The North America region emerged as the largest market for the pharmacogenomics (PGx).

Increasing demand for personalized medicines is the key driving factor for the pharmacogenomics (PGx)market. Rising prevalence of chronic diseases driving the demand for pharmacogenomics (PGx)market.

Increasing research and development activities for the development of new therapies will provide huge opportunities to the market.

Key players are Abbott Laboratories, AstraZeneca PLC, Admera Health, LLC, Agena Biosciences, Inc., Biomerieux, and Bayer AG.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Technology
          4.3.2. Market Attractiveness Analysis By Application
          4.3.3. Market Attractiveness Analysis By End User
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increasing demand for personalized medicines
          5.2.2. Rising prevalence of chronic diseases
    5.3. Restrains
          5.3.1. Ethical issues
    5.4. Opportunities
          5.4.1. Increasing research and development activities for the development of new therapies
    5.5. Challenges
          5.5.1. Lack of skilled personnel could hamper the market growth

6. Global Pharmacogenomics (PGx) Market Analysis and Forecast, By Technology
    6.1. Segment Overview
    6.2. Polymerase Chain Reaction (PCR)
    6.3. DNA Sequencing/Next Generation Sequencing (NGS)
    6.4. Nucleic Acid Amplification Tests (NAATs)
    6.5. Mass Spectrometry
    6.6. Gel Electrophoresis
    6.7. Hybridization
    6.8. Microarray
    6.9. Others

7. Global Pharmacogenomics (PGx) Market Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. Pain Management
    7.3. Oncology
    7.4. Infectious Diseases
    7.5. Neurology/Psychiatry
    7.6. Cardiovascular
    7.7. Others

8. Global Pharmacogenomics (PGx) Market Analysis and Forecast, By End User
    8.1. Segment Overview
    8.2. Research Organization
    8.3. Hospitals
    8.4. Diagnostic Centers
    8.5. Academic Institutes
    8.6. Others

9. Global Pharmacogenomics (PGx) Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Pharmacogenomics (PGx) Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Pharmacogenomics (PGx) Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Abbott Laboratories
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. AstraZeneca PLC
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Admera Health, LLC
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Agena Biosciences, Inc.
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Biomerieux
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Bayer AG
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Cancer Genetics, Inc.
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Dynamic DNA Laboratories
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. F. Hoffmann-La Roche Ltd
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. geneOmbio Technologies Pvt Ltd.
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
    11.11. Qiagen
          11.11.1. Business Overview
          11.11.2. Company Snapshot
          11.11.3. Company Market Share Analysis
          11.11.4. Company Product Portfolio
          11.11.5. Recent Developments
          11.11.6. SWOT Analysis
    11.12. Genomic Health, Inc.
          11.12.1. Business Overview
          11.12.2. Company Snapshot
          11.12.3. Company Market Share Analysis
          11.12.4. Company Product Portfolio
          11.12.5. Recent Developments
          11.12.6. SWOT Analysis
    11.13. Illumina, Inc.
          11.13.1. Business Overview
          11.13.2. Company Snapshot
          11.13.3. Company Market Share Analysis
          11.13.4. Company Product Portfolio
          11.13.5. Recent Developments
          11.13.6. SWOT Analysis
    11.14. Laboratory Corporation of America Holdings
          11.14.1. Business Overview
          11.14.2. Company Snapshot
          11.14.3. Company Market Share Analysis
          11.14.4. Company Product Portfolio
          11.14.5. Recent Developments
          11.14.6. SWOT Analysis
    11.15. Bio-Rad Laboratories Inc.
          11.15.1. Business Overview
          11.15.2. Company Snapshot
          11.15.3. Company Market Share Analysis
          11.15.4. Company Product Portfolio
          11.15.5. Recent Developments
          11.15.6. SWOT Analysis

List of Table

1. Global Pharmacogenomics (PGx) Market, By Technology, 2018–2028 (USD Billion)

2. Global Polymerase Chain Reaction (PCR) Pharmacogenomics (PGx)Market, By Region, 2018–2028 (USD Billion)

3. Global DNA Sequencing/Next Generation Sequencing (NGS) Pharmacogenomics (PGx)Market, By Region, 2018–2028 (USD Billion)

4. Global Nucleic Acid Amplification Tests (NAATs) Pharmacogenomics (PGx) Market, By Region, 2018–2028 (USD Billion)

5. Global Mass Spectrometry Pharmacogenomics (PGx) Market, By Region, 2018–2028 (USD Billion)

6. Global Gel Electrophoresis Pharmacogenomics (PGx) Market, By Region, 2018–2028 (USD Billion)

7. Global Hybridization Pharmacogenomics (PGx) Market, By Region, 2018–2028 (USD Billion)

8. Global Microarray Pharmacogenomics (PGx) Market, By Region, 2018–2028 (USD Billion)

9. Global Others Pharmacogenomics (PGx) Market, By Region, 2018–2028 (USD Billion)

10. Global Pharmacogenomics (PGx) Market, By Application, 2018–2028 (USD Billion)

11. Global Pain ManagementPharmacogenomics (PGx) Market, By Region, 2018–2028 (USD Billion)

12. Global OncologyPharmacogenomics (PGx) Market, By Region, 2018–2028 (USD Billion)

13. Global Infectious DiseasesPharmacogenomics (PGx) Market, By Region, 2018–2028 (USD Billion)

14. Global Neurology/PsychiatryPharmacogenomics (PGx) Market, By Region, 2018–2028 (USD Billion)

15. Global CardiovascularPharmacogenomics (PGx) Market, By Region, 2018–2028 (USD Billion)

16. Global OthersPharmacogenomics (PGx) Market, By Region, 2018–2028 (USD Billion)

17. Global Pharmacogenomics (PGx) Market, By End User, 2018–2028 (USD Billion)

18. GlobalResearch OrganizationPharmacogenomics (PGx) Market, By Region, 2018–2028 (USD Billion)

19. Global HospitalsPharmacogenomics (PGx) Market, By Region, 2018–2028 (USD Billion)

20. Global Diagnostic CentersPharmacogenomics (PGx) Market, By Region, 2018–2028 (USD Billion)

21. Global Academic Institutes Pharmacogenomics (PGx) Market, By Region, 2018–2028 (USD Billion)

22. Global Others Pharmacogenomics (PGx) Market, By Region, 2018–2028 (USD Billion)

23. Global Pharmacogenomics (PGx) Market, By Region, 2018–2028 (USD Billion)

24. Global Pharmacogenomics (PGx) Market, By North America, 2018–2028 (USD Billion)

25. North America Pharmacogenomics (PGx) Market, By Technology, 2018–2028 (USD Billion)

26. North America Pharmacogenomics (PGx) Market, By Application, 2018–2028 (USD Billion)

27. North America Pharmacogenomics (PGx) Market, By End User, 2018–2028 (USD Billion)

28. U.S. Pharmacogenomics (PGx) Market, By Technology, 2018–2028 (USD Billion)

29. U.S. Pharmacogenomics (PGx) Market, By Application, 2018–2028 (USD Billion)

30. U.S. Pharmacogenomics (PGx) Market, By End User, 2018–2028 (USD Billion)

31. Canada Pharmacogenomics (PGx) Market, By Technology, 2018–2028 (USD Billion)

32. Canada Pharmacogenomics (PGx) Market, By Application, 2018–2028 (USD Billion)

33. Canada Pharmacogenomics (PGx) Market, By End User, 2018–2028 (USD Billion)

34. Mexico Pharmacogenomics (PGx) Market, By Technology, 2018–2028 (USD Billion)

35. Mexico Pharmacogenomics (PGx) Market, By Application, 2018–2028 (USD Billion)

36. Mexico Pharmacogenomics (PGx) Market, By End User, 2018–2028 (USD Billion)

37. Europe Pharmacogenomics (PGx) Market, By Technology, 2018–2028 (USD Billion)

38. Europe Pharmacogenomics (PGx) Market, By Application, 2018–2028 (USD Billion)

39. Europe Pharmacogenomics (PGx) Market, By End User, 2018–2028 (USD Billion)

40. Germany Pharmacogenomics (PGx) Market, By Technology, 2018–2028 (USD Billion)

41. Germany Pharmacogenomics (PGx) Market, By Application, 2018–2028 (USD Billion)

42. Germany Pharmacogenomics (PGx) Market, By End User, 2018–2028 (USD Billion)

43. France Pharmacogenomics (PGx) Market, By Technology, 2018–2028 (USD Billion)

44. France Pharmacogenomics (PGx) Market, By Application, 2018–2028 (USD Billion)

45. France Pharmacogenomics (PGx) Market, By End User, 2018–2028 (USD Billion)

46. U.K. Pharmacogenomics (PGx) Market, By Technology, 2018–2028 (USD Billion)

47. U.K. Pharmacogenomics (PGx) Market, By Application, 2018–2028 (USD Billion)

48. U.K. Pharmacogenomics (PGx) Market, By End User, 2018–2028 (USD Billion)

49. Italy Pharmacogenomics (PGx) Market, By Technology, 2018–2028 (USD Billion)

50. Italy Pharmacogenomics (PGx) Market, By Application, 2018–2028 (USD Billion)

51. Italy Pharmacogenomics (PGx) Market, By End User, 2018–2028 (USD Billion)

52. Spain Pharmacogenomics (PGx) Market, By Technology, 2018–2028 (USD Billion)

53. Spain Pharmacogenomics (PGx) Market, By Application, 2018–2028 (USD Billion)

54. Spain Pharmacogenomics (PGx) Market, By End User, 2018–2028 (USD Billion)

55. Asia Pacific Pharmacogenomics (PGx) Market, By Technology, 2018–2028 (USD Billion)

56. Asia Pacific Pharmacogenomics (PGx) Market, By Application, 2018–2028 (USD Billion)

57. Asia Pacific Pharmacogenomics (PGx) Market, By End User, 2018–2028 (USD Billion)

58. Japan Pharmacogenomics (PGx) Market, By Technology, 2018–2028 (USD Billion)

59. Japan Pharmacogenomics (PGx) Market, By Application, 2018–2028 (USD Billion)

60. Japan Pharmacogenomics (PGx) Market, By End User, 2018–2028 (USD Billion)

61. China Pharmacogenomics (PGx) Market, By Technology, 2018–2028 (USD Billion)

62. China Pharmacogenomics (PGx) Market, By Application, 2018–2028 (USD Billion)

63. China Pharmacogenomics (PGx) Market, By End User, 2018–2028 (USD Billion)

64. India Pharmacogenomics (PGx) Market, By Technology, 2018–2028 (USD Billion)

65. India Pharmacogenomics (PGx) Market, By Application, 2018–2028 (USD Billion)

66. India Pharmacogenomics (PGx) Market, By End User, 2018–2028 (USD Billion)

67. South America Pharmacogenomics (PGx) Market, By Technology, 2018–2028 (USD Billion)

68. South America Pharmacogenomics (PGx) Market, By Application, 2018–2028 (USD Billion)

69. South America Pharmacogenomics (PGx) Market, By End User, 2018–2028 (USD Billion)

70. Brazil Pharmacogenomics (PGx) Market, By Technology, 2018–2028 (USD Billion)

71. Brazil Pharmacogenomics (PGx) Market, By Application, 2018–2028 (USD Billion)

72. Brazil Pharmacogenomics (PGx) Market, By End User, 2018–2028 (USD Billion)

73. Middle East and Africa Pharmacogenomics (PGx) Market, By Technology, 2018–2028 (USD Billion)

74. Middle East and Africa Pharmacogenomics (PGx) Market, By Application, 2018–2028 (USD Billion)

75. Middle East and Africa Pharmacogenomics (PGx) Market, By End User, 2018–2028 (USD Billion)

76. UAE Pharmacogenomics (PGx) Market, By Technology, 2018–2028 (USD Billion)

77. UAE Pharmacogenomics (PGx) Market, By Application, 2018–2028 (USD Billion)

78. UAE Pharmacogenomics (PGx) Market, By End User, 2018–2028 (USD Billion)

79. South Africa Pharmacogenomics (PGx) Market, By Technology, 2018–2028 (USD Billion)

80. South Africa Pharmacogenomics (PGx) Market, By Application, 2018–2028 (USD Billion)

81. South Africa Pharmacogenomics (PGx) Market, By End User, 2018–2028 (USD Billion)

List of Figures 

1. Global Pharmacogenomics (PGx) Market Segmentation

2. Pharmacogenomics (PGx) Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Pharmacogenomics (PGx) Market Attractiveness Analysis By Technology

9. Global Pharmacogenomics (PGx) Market Attractiveness Analysis By Application

10. Global Pharmacogenomics (PGx) Market Attractiveness Analysis By End User

11. Global Pharmacogenomics (PGx) Market Attractiveness Analysis By Region

12. Global Pharmacogenomics (PGx) Market: Dynamics

13. Global Pharmacogenomics (PGx) Market Share By Technology (2021 &2028)

14. Global Pharmacogenomics (PGx) Market Share By Application (2021 &2028)

15. Global Pharmacogenomics (PGx) Market Share By End User(2021 &2028)

16. Global Pharmacogenomics (PGx) Market Share by Regions (2021 &2028)

17. Global Pharmacogenomics (PGx) Market Share by Company (2020)

This study forecasts revenue at global, regional, and country levels from 2018 to 2028. The Brainy Insights has segmented the global pharmacogenomics (PGx)market on the basis of below mentioned segments:

Global Pharmacogenomics (PGx) Market by Technology:

  • Polymerase Chain Reaction (PCR)
  • DNA Sequencing/Next Generation Sequencing (NGS)
  • Nucleic Acid Amplification Tests (NAATs)
  • Mass Spectrometry
  • Gel Electrophoresis
  • Hybridization
  • Microarray
  • Others

Global Pharmacogenomics (PGx) Market by Application:

  • Pain Management
  • Oncology
  • Infectious Diseases
  • Neurology/Psychiatry
  • Cardiovascular
  • Others

Global Pharmacogenomics (PGx) Market by End User:

  • Research Organization
  • Hospitals
  • Diagnostic Centers
  • Academic Institutes
  • Others

Global Pharmacogenomics (PGx) Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa 
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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