Pharmacogenomics Market Research Report, By Technology (Microarray, Sequencing, Polymerase Chain Reaction) By Application (Cardiology, Neurological Disorders) By End Users (Hospitals, Research Organizations, Academic Institute) – Global Forecast till 2023
Pharmacogenomics defines how genes can affect a person’s response to drugs. Pharmacogenomics is predicted to treat a wide range of health problems including cardiovascular diseases, Alzheimer disease, cancer, HIV/AIDS, and asthma, in near future. The growing biotech industry boosts the market growth. According to the Organization for Economic Co-operation and Development in 2017, biotech R&D in the business enterprise sector was 11.3%, and 9.4% of total business enterprise R&D, for U.S. and France respectively in 2014.
The Global Pharmacogenomics Market is expected to grow at a ~CAGR of 5.8% during the forecast period.
Moreover, in 2016, according to the BIOCOM AG, the total turnover for the Germany based biotech companies was USD 3.7 billion. Moreover, rising healthcare expenditures followed by increasing interest for customized drugs will drive the market growth. However, lack of awareness and consistency in pharmacogenomics products will restrain the market growth during the forecasted period.
Global Pharmacogenomics Market – Competitive Analysis
Pharmacogenomics in recent years has used a new generation of technology approaches that has led to a revolution in the understanding of disease susceptibility and pathophysiology, providing enormous potential for novel therapeutic strategies.
However, with companies aiming to capture a considerable share of the market segment as early as possible, they are competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the best strategies.
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The key players profiled in pharmacogenomics market report includes Myriad Genetics, Inc. (U.S.), 23andMe, Inc. (U.S.), Pathway Genomics (U.S.), GeneTech (U.S.), GeneDx. (U.S.), Future Science Group (U.S.), Teva Pharmaceutical Industries Ltd. (Israel), Assurex Health, Inc. (U.S.), OneOme (U.S.) and others.
The global pharmacogenomics market is segmented on the basis of technology, application, and end user.
On the basis of technology, the market is segmented into microarray, sequencing, polymerase chain reaction, and others. The sequencing segment is sub-segmented into Sanger sequencing, pyrosequencing, next-generation sequencing, and others.
On the basis of application, the market is segmented into oncology, cardiology, neurological disorders, and others. The oncology segment, by technology, is sub-segmented into breast cancer, lung cancer, and others.
On the basis of end users, the market is segmented into hospitals, research organizations, academic institute, and others
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Key Questions Answered In This Report
- What will the market size and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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