DUBLIN--(BUSINESS WIRE)--The "Global Pharmacogenomics Market: Focus on Services, Applications, Technologies, End Users, Country Data (16 Countries), and Competitive Landscape - Analysis and Forecast, 2019-2028" report has been added to ResearchAndMarkets.com's offering.
The global pharmacogenomics market has been witnessing a steady growth since the end of the Human Genome Project in 2003. The market is expected to continue to grow with a double digit CAGR of 6.98% during the forecast period, 2019-2028. Growing at a CAGR of 6.42% during the forecast period of 2019-2028, the genotyping service segment is anticipated to generate a value of $3.54 billion in 2028. However, the global market for pharmacogenetic testing services is anticipated to grow at the fastest CAGR of 8.95% during the forecast period 2019-2028.
Pharmacogenomic services have significantly transformed the entire medical industry. With evolution of these services into direct-to-consumer tests, the global scope has been expanded to cover the entire healthcare gamut, further personalizing treatment modules.
The rapid growth of clinically relevant pharmacogenomic knowledge and drugs used for patient treatment in virtually every medical specialty, is consistently aiding in the evolution of prevention-based treatment. With a critical role in the global precision medicine phenomenon, pharmacogenomics is responsible for ensuring safe and effective application of targeted therapeutics. These individualized care regimes are improving the quality of life of the patients and reducing economic, societal, and clinical burden, projecting a future of prosperity.
Presently, service categories within the pharmacogenomics market include genotyping, SNP identification, and pharmacogenetic testing, among others. Although services are widespread, there is still considerable apprehension toward the adoption of genetic testing services in order to stratify patients for drug selection and dosage. Minimal reimbursement in developed countries such as the U.S., though restraining growth in the market, is being overcome by an increasing patient awareness that is leading to growth in the market.
The answers to the following key questions can be derived from this report:
- What are the major market drivers, challenges, and opportunities in the global pharmacogenomics market?
- What are the underlying structures resulting in the emerging trends within the global pharmacogenomics market?
- How will each segment of the global pharmacogenomics market grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2028?
- What are the key developmental strategies which are implemented by the major players in order to sustain in the competitive market? What are the key regulatory implications in developed and developing regions for pharmacogenomics?
- Who are the leading players with significant offerings to the global pharmacogenomics market? What is the current market dominance for each of these leading players?
- What would be the compound growth rate witnessed by the leading players in the market during the forecast period 2019-2028? Which pharmacogenomics service type is estimated to witness the most promising growth?
- What are the key applications in global pharmacogenomics market? What are the major segments of these applications?
- What are the major technologies that are employed in the global pharmacogenomics market? Which is the dominating technology?
- Who are the primary end users of the global pharmacogenomics market? Which is the fastest growing end use segment in the global pharmacogenomics market? What are the services that are being provided by these end users?
- Who are the key manufacturers and service providers in the global pharmacogenomics market, and what are their contributions? Also, what is the growth potential of each major pharmacogenomics manufacturer and service provider?
- What is the scope of the global pharmacogenomics market in North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World? Which pharmacogenomics application and service type dominate these regions?
Key Topics Covered:
1 Market Overview
1.2 Market Definition
1.3 Historical Perspective
1.4 Significant Services in Pharmacogenomics
1.5 Classification of Pharmacogenomics
1.6 Global Footprint
1.7 Future Potential
2 Market Dynamics
2.2 Iceberg Analysis - Global Pharmacogenomics Market
2.3 Impact Analysis
2.4 Market Drivers
2.4.1 Increasing Prevalence of Infectious Diseases and Various Types of Cancer, Globally
2.4.2 Increase in Adoption of Personalized Medicine Shifting the Paradigm From Reaction to Prevention on a Global Level
2.4.3 Increasing Rate of Adverse Drug Reaction
2.4.4 Surge in Usage of Pharmacogenomics for Drug Discovery and Development
2.5 Market Restraints
2.5.1 Lack of Use of Available Data for Drug Development Initiatives
2.5.2 Lack of High Complexity Testing Centers
2.5.3 Difficulties in Detecting Gene Variation Affecting Drug Response
2.6 Market Opportunities
2.6.1 Massive Scope for Adoption of Pharmacogenomics in Emerging Nations
2.6.2 Technological Advancements in Molecular Techniques for Pharmacogenomic Diagnostic Tests
2.6.3 Rise of Direct-to-Consumer (DTC) Testing Services
3 Competitive Landscape
3.1 Key Strategies and Developments
3.1.1 Product Launches and Enhancements
3.1.2 Product Approvals
3.1.3 Synergistic Activities
3.1.4 Mergers and Acquisitions
3.1.5 Business Expansion Activities and Others
3.2 Market Share Analysis
3.3 Growth Share Analysis
3.4 Industry Attractiveness
4 Regulatory Framework
4.1 Legal Requirements and Framework in the U.S.
4.2 Legal Requirements and Framework in Europe
4.3 Legal Requirements and Framework in Asia-Pacific
4.4 Patent Landscape
5 Global Pharmacogenomics Market (by Service)
5.3 SNP Identification
5.4 Pharmacogenetic Testing
5.5 Other Services
6 Global Pharmacogenomics Market (by Application)
6.3 Infectious Diseases
6.6 Other Applications
7 Global Pharmacogenomics Market (by Technology)
7.2 Polymerase Chain Reaction (PCR)
7.5 Other Technologies
8 Global Pharmacogenomics Market (by End User)
8.2 Research Organizations
8.3 Pharmaceutical Companies
8.4 Diagnostic Centers
8.5 Other End Users
9 Global Pharmacogenomics Market (by Region)
10 Company Profiles
- 23andMe, Inc.
- Abbott Laboratories
- Admera Health, LLC
- Agena Biosciences, Inc.
- Astra Zeneca PLC
- Cancer Genetics, Inc.
- Dynamic DNA Laboratories
- F. Hoffmann-La Roche Ltd
- Genomic Health, Inc.
- geneOmbio Technologies Pvt Ltd.
- Illumina, Inc.
- Laboratory Corporation of America Holdings
- Myriad Genetics, Inc.
- OneOme, LLC
- Pathway Genomics Corporation
- QIAGEN N.V.
- Quest Diagnostics Incorporated
- Thermo Fisher Scientific Inc.
- Transgenomic, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/70bikg