Global Pharmacogenomics Market
Pharmacogenomics is the study of the relationship between genes and the drug response in patients. This relatively new area combines genomics and pharmacology (both the science of genes and the pharmacology of drugs) to design effective, safe drugs that will specifically be tailored to an individual s genetic makeup and reaction to that drug. The use of this two approach to design treatments for serious diseases like Alzheimer’s, multiple sclerosis, rheumatoid arthritis and even acne is making huge strides forward as researchers strive to find the causes of these diseases and why they are able to manifest themselves in a way that seems to have no cure. By studying the genetics of the individual, the scientists are trying to unlock the secrets to the codes that allow our bodies to fight or even prevent disease.
The global pharmacogenomics market was valued at US$ 8,357.3 million in 2017 and is expected to witness a CAGR of 10.8% during the forecast period (2018 – 2026).
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Global Pharmacogenomics Market: Drivers
R&D in pharmacogenomics-led treatment is expected to propel growth of the global pharmacogenomics market over the forecast period. For instance, in June 2020, Green Shield Canada and HBM+ (its health benefit management solutions division) announced the high-level results of a groundbreaking pharmacogenomics clinical trial study which has confirmed the value of tailoring drug treatment to a person’s genetic makeup.
Moreover, high prevalence of infectious and non-infectious diseases is also expected to aid in growth of the market. For instance, according to the study, ‘The cascade of HIV care in Oman, 2015–2018: A population-based study from the Middle East’, published in the International Journal of Infectious Diseases in September 2019, the estimated number of people living with HIV in Oman was 3030 and the proportion of patients linked to care increased from 72.6% in 2015 to 95.6% in 2018.
Global Pharmacogenomics Market: Opportunities
Increasing funding in pharmacogenomics is expected to offer lucrative growth opportunities for players in the global pharmacogenomics market. For instance, in 2017, Armonica Technologies, Inc. received US$ 1.5 million from the states U.S US$ 40 million catalyst fund for seed early stage-companies.
Market Trends
Increasing number of clinical trials is expected to propel growth of the global pharmacogenomics market over the forecast period. For instance, in June 2020, Concert Pharmaceuticals Inc. released new data analyses from its Phase 2 dose-ranging clinical trial of its investigational agent CTP‑543 for the treatment of moderate-to-severe alopecia areata.
Moreover, R&D in genetic composition of the population is also expected to aid in growth of the market. For instance, in 2017, South African Medical Research Council collaborated with Beijing Genomics Institute for R&D in genetic composition of the population.
Global Pharmacogenomics Market: Restraints
High costs associated with tests, unavailability of proper diagnostic testing due to lack of trained personnel, dearth of laboratory facility, and lack of standardization and validation of the test procedures are factors limiting growth of the global pharmacogenomics market.
Global Pharmacogenomics Market: Competitive Landscape
Major players operating in the global pharmacogenomics market include, Abbott Laboratories, Assurex Health Inc., Diatech Pharmacogenetics Srl, F. Hoffmann-La Roche AG, Pacific Biosciences of California, Inc., Qiagen N.V., and Thermo Fisher Scientific Inc.
Global Pharmacogenomics Market: Key Developments
Major players operating in the global pharmacogenomics market are focused on adopting partnership strategies to enhance their market share. For instance, in 2017, Qiagen N.V. and Bristol-Myers Squibb signed an agreement for use of Next Generation Sequencing technology to develop gene expression profiles for immuno-oncology therapies.
Global Pharmacogenomics Market: Segmentation
By Technology Type
- Polymerase Chain Reaction
- Sequencing
- Microarray
- Others
By Application
- Drug Discovery
- Therapeutic Applications
Table of Contents
- Research Objective and Assumption
- Research Objectives
- Assumptions
- Abbreviations
- Market Overview
- Market Definition and Scope
- Market Snippet, By Technology Type
- Market Snippet, By Application
- Market Snippet, By Region
- Report Description
- Executive Summary
- Coherent Opportunity Map (COM)
- Market Dynamics, Regulations, and Trends Analysis
- Drivers
- Supply Side Drivers
- Demand Side Drivers
- Economic Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Epidemiology
- Strategic Acquisitions
- Key Highlights
- PEST Analysis
- Market Dynamics
- Drivers
- Global Pharmacogenomics Market, By Technology Type, 2018 – 2026, (US$ Million)
- Market Share Analysis, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, 2018 – 2026
- Segment Trends
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 – 2026, (US$ Million)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 – 2026, (US$ Million)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 – 2026, (US$ Million)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 – 2026, (US$ Million)
- Introduction
- Polymerase Chain Reaction
- Sequencing
- Microarray
- Other Technologies
- Global Pharmacogenomics Market, By Application, 2018 – 2026, (US$ Million)
- Market Share Analysis, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, 2018 – 2026
- Segment Trends
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 – 2026, (US$ Million)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 – 2026, (US$ Million)
- Oncology
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 – 2026, (US$ Million)
- Cardiology
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 – 2026, (US$ Million)
- Pain Management
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 – 2026, (US$ Million)
- Neurological Disorders
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 – 2026, (US$ Million)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018 – 2026, (US$ Million)
- Oncology
- Introduction
- Drug Discovery
- Therapeutic Application
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