The global pharmacogenomics technology (theranostics and companion diagnostics) market is expected to reach USD 18.3 billion by 2025. Diagnostics is coming to grips with the wave of pharmacogenomic tests that are followed by new biological therapy introductions. These tests enable cost-effective treatment and also add value to the process of drug-development. Advantages associated with the usage of these tests such as disease risk prediction, patient stratification, and therapeutic response monitoring over the traditional methods is anticipated to significant source of progress in this market.
In addition, pharmacogenomics testing products aid physicians in individualizing and optimization of patient’s therapeutic regimen. Pharmacogenomics and theranostics are paving the way for integrated medicine. Rapid evolution in this group of specialized molecular diagnostic tests are contributing in improvement for assessment of real-time treatment of disease.
However, presence of challenges pertaining to early integration of pharmacogenomic based testing into drug development time lines for gaining the approval simultaneously is anticipated to impede growth. Proper designing and implementation of clinical trials in order to identify individual as well as population variations from a given therapy has become a necessary attribute for the success of theranostics.
Request A Sample Copy Of This Report at: www.radiantinsights.com/research/pharmacogenomics-technology-theranostics-companion-diagnostics-cdx-market/request-sample
Further key findings from the report suggest:
- Oncology is estimated to account for the largest revenue share owing to the presence of substantial number of products in this segment
- Furthermore, precision oncology investigators envision in giving multiple medications, in varied sorts of combinations, in an effort to squelch a tumor rather than just temper its growth
- Aforementioned fact is responsible for the estimated revenue share of cancer in pharmacogenomics technology market
- Polymerase Chain Reaction (PCR) was the largest revenue grossing segment of the with respect to technology for theranostics
- Advantages associated with the use of the PCR technique makes it current workhorse of clinical diagnostics
- Moreover, reproducible and precise results produced with the assays without sacrificing the sensitivity are responsible for the estimated share
- North American region dominates the market as a consequence of economic incentives for drug developers to pair their products with diagnostics.
- Asia Pacific market is projected to showcase fastest growth over the forecast period as the companies are engaged in capturing untapped opportunities
- Key players operating include F Hoffman La Roche, Agilent Technologies, Thermo Fisher Scientific Inc., GE Healthcare, Pfizer, Qiagen NV, Leica Biosystems Nussloch GmBH, and Foundation Medicine.
- Diagnostic companies are positioning themselves to offer theranostic tools by widening the application of in-vitro diagnostic technologies to include more than just disease detection
Explore Other Reports by Radiant Insights:
- Non-small Cell Lung Cancer (NSCLC) Therapeutics Market –
The global non-small cell lung cancer therapeutics market is expected to reach a value of USD 12.2 billion by 2025. The non-small cell cancer therapeutics (NSCLC) market is anticipated to witness significant growth during the forecast period. This can be attributed to the high investment by market players in the research and development of lung cancer therapy, presence of a rich pipeline, and increasing penetration of drugs during the forecast period.
- Medical Foods Market –
The global medical foods market is expected to reach a value of USD 24.4 billion by 2025. The medical foods market is anticipated to grow at a CAGR of 6.9% over the forecast period. The key factors supporting expansion include the growing awareness about medical foods, improvement in patient healthcare outcomes, rise in prevalence of several chronic diseases, increase in malnutrition, and continuous innovation.
About Radiant Insights,Inc
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Corporate Sales Specialist, USA
Radiant Insights, Inc
Toll Free: 1-888-202-9519