The Pharmacogenomics Archiving Market Research Report covers business strategies, qualitative and quantitative analysis, and emerging industry trends. It is a detailed and significant study. The study conducts a complete examination and analysis of the key elements of the global Pharmacogenomics archiving market. The research analysts created this report after carefully examining the drivers, restraints, challenges, trends, and opportunities in the global Pharmacogenomics archiving market.
The global pharmacogenomics market is expected to reach USD 11.97 billion by 2027, according to a new report by Emergen Research. The global pharmacogenomics (PGx) market is growing at a substantial pace owing to the growing demand for personalized therapy, the increasing prevalence of target chronic diseases, technological advancements, favorable government initiatives, and the availability of financial support for research and development.
Pharmacogenomics has high demand; therefore, research centers invest a handful of the amount in their R&D, which fuels market growth by a large margin. Pharmacogenomics may also help to quickly identify the best drugs to treat people with certain mental health disorders. Cancer is another active area of pharmacogenomic research. Whether fighting a unique and fast-spreading disease like the novel coronavirus or treating a well-known common condition, genomics is increasingly being used to inform more personalized and cost-effective strategies for drug development and use. Such advantages are expected to foster the market significantly during the forecast period.
The main technologies used in the pharmacogenomics market are next-generation sequencing (NGS), polymerase chain reaction, gel electrophoresis, mass spectrometry, microarrays, and other technologies. NGS is a massively parallel sequencing technology that provides ultra-high throughput, scalability, and speed. The technology is used to determine the nucleotide order in entire genomes or specific regions of DNA or RNA. The applications of pharmacogenomics include neurology, drug discovery, oncology, cardiology, pain management, and others. The end-users included hospitals and clinics, research institutions, and academic institutes.
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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
The leading market contenders listed in the report are:
Abbott Laboratories, Admera Health, LLC, Agena Biosciences, Inc., Cancer Genetics, Inc., Dynamic DNA Laboratories, F. Hoffmann-La Roche Ltd, geneOmbio Technologies Pvt Ltd., Genomic Health, Inc., Illumina, Inc., and Laboratory Corporation of America Holdings
Target Audience of the Global Pharmacogenomics Market Report:
- Key Market Players
- Investors
- Venture capitalists
- Small- and medium-sized and large enterprises
- Third-party knowledge providers
- Value-Added Resellers (VARs)
- Global market producers, distributors, traders, and suppliers
- Research organizations, consulting companies, and various alliances interested in this sector
- Government bodies, independent regulatory authorities, and policymakers
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Major Geographies Analyzed in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Market Segmentations of the Pharmacogenomics Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2020 and 2027. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Pharmacogenomics market on the basis of product, application, and region:
Segments Covered in this report are:
- Product and Services Outlook (Revenue, USD Billion; 2017-2027)
- Products
- Kits
- Assays and Reagents
- Instruments
- Software
- Genotyping
- SNP Identification
- Pharmacogenetic Testing
- Other Services
- Technology Outlook (Revenue, USD Billion; 2017-2027)
- Polymerase Chain Reaction (PCR)
- Real-Time PCR
- qPCR
- Digital PCR
- Fluorescence In Situ Hybridization (FISH)
- Chromogenic In Situ Hybridization (CISH)
- Others
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Oncology
- Infectious Diseases
- Neurology/Psychiatry
- Cardiovascular
- Others
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Some Key Highlights from the Report
- The software under the product and services segment is expected to have the largest market share. This is attributed to the widespread application of genomic data to effectively influence healthcare outcomes. The testing methods are improved, and the public and health care professionals are educated about the potential benefits owing to technological advancements.
- The pharmacogenomics by application includes Oncology as one of the prospects which are expected to fuel the market growth. Pharmacogenomics is expected to help guide healthcare professionals to personalize treatment for cancer patients, which will contribute significantly to the market.
- Research organizations held a significant share in 2019, owing to its contribution to the research field. It is a relatively new field that combines pharmacology and genomics to develop effective, safe medications and doses that will be tailored to a person's genetic makeup.
- The major driving factors for the growth of this market in the North American region is the rising demand for personalized medicines, high medical reimbursement facilities, and technological advancement.
Additional information offered by the report:
- Along with a complete overview of the global Pharmacogenomics market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
- The report elaborates on the global Pharmacogenomics market size and share governed by the major geographies.
- It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
- It further presents a detailed description of the company profiles of the key market contenders.
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