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.
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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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.
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.
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.
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.
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.
The global pharmacogenomics (PGx) market has been segmented based on technology, application, end-user and regions.
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.
North America Pharmacogenomics (PGx) Market Share in 2020- 41.3%
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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.
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.
Ethical issues may hamper the market growth.
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:
Global Pharmacogenomics (PGx) Market by Application:
Global Pharmacogenomics (PGx) Market by End User:
Global Pharmacogenomics (PGx) Market by Region:
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