GLOBAL PHARMACOGENOMICS MARKET GROWTH ANALYSIS 2025 BY THERMO FISHER SCIENTIFIC INC., ABBOTT LABORATORIES, F. HOFFMANN-LA ROCHE AG, QIAGEN N.V., PACIFIC BIOSCIENCES OF CALIFORNIA, INC., DIATECH PHARMACOGENETICS SRL

Pharmacogenomics deals with the influence of genetic variation on drug response in patients by correlating gene expression changes and Single-Nucleotide Polymorphisms (SNPs) with a drug's efficacy or toxicity. Growing concerns for the early identification of drug advertises, drug safety, and growing need for prompt compliance to regulatory guidelines have led the introduction of new technologies and methods by pharmaceutical manufacturers and other intermediaries. These advancements are expected to fuel adoption of pharmacogenomics technology during the forecast period. Pharmacogenomics has different restorative applications such as cardiology, oncology, neurological disorder, and pain management. In this manner, through further headways in this field, by enhancing drug safety, optimizing drug therapy with increasing patient compliance and further reducing healthcare costs is expected to result in the meteoric growth of the pharmacogenomics market over the forecast period.

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Global Movers of The Market

Key companies covered as a part of this study include Thermo Fisher Scientific Inc., Abbott Laboratories, F. Hoffmann-La Roche AG, Qiagen N.V., Pacific Biosciences of California, Inc., Diatech Pharmacogenetics Srl and Assurex Health Inc.

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).

Increasing demand for various techniques to pinpointing diagnoses down to the subtype of chronic conditions will drive the pharmacogenomics market

Increasing number of research studies pertaining to sequencing, especially next generation sequencing, are expected to increase demand for pharmacogenomics tests. Meteoric progress in the aspects of NGS technology, platform, and data analysis solutions is propelling widespread, as it shows valid results for problematic areas that have long plagued the drug development industry.

Technological advancements leading to new product launch is a prominent factor fueling market growth

Today, screening of known polymorphic drug metabolism enzymes and transporters (DMET) is rapidly becoming routine practice in clinical research. So manufacturers are currently focusing on various approaches to pharmacogenomics analysis to provide rapid and cost-effective solutions for both the screening of known polymorphisms and discovery of novel variants. Few of the advanced technologies already been commercialized like Illumina HiSeq-2000 and HiScan, Roche 454 GSFLX Titanium and the Applied Biosystems SOLiD Analyzer 5500xl. Besides, the combination of goldstandard Applied Biosystems TaqMan Assays with the high-throughput Applied Biosystems Open Array manufactured by Thermo Fisher Scientific Inc., enables analysis of common variants, typically in under four hours with the flexibility to modify array content.

Detailed Segmentation:

Global Pharmacogenomics Market, By Technology Type:
Polymerase Chain Reaction
Sequencing
Microarray
Other Technologies

Global Pharmacogenomics Market, By Application:
Drug Discovery
Therapeutic Application
- Oncology
- Cardiology
- Pain Management
- Neurological Disorders
- Others

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