Pharmacogenomics (PGx) market is forecast to reach USD 11.01 billion in 2027 | Top Key Players Abbott Laboratories, Admera Health, LLC, Agena Biosciences, Inc., Cancer Genetics

The global pharmacogenomics (PGx) market is forecast to reach USD 11.01 billion in 2027, according to a new report by Reports and Data. The global pharmacogenomics (PGx) market is growing at a substantial pace owing to the growing demand for personalized therapy, increasing prevalence of target chronic diseases, technological advancements, favorable government initiatives, 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 up the market growth by a large margin. Pharmacogenomics also may help to quickly identify the best drugs to treat people with certain mental health disorders.

This report covers the recent COVID-19 incidence and its impact on Pharmacogenomics (PGx) Market. The pandemic has widely affected the economic scenario. This study assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.

Request for a sample copy of this report @ https://www.reportsanddata.com/sample-enquiry-form/2296

Key participants include 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.

The COVID-19 impact:

The outbreak raised concerns for the life-threatening patient. The government has, however, set out numerous measures to ensure both the patient's welfare and that of the health care professional. Over the weeks, the market has experienced the downturn, which can continue in the coming months. The COVID-19 Pandemic has created bottlenecks across industry pipelines, sales funnels, and supply chain activities. This has created unprecedented budget pressure on company spending for market leaders. Such scenarios have led to an increased requirement for opportunity analysis, price trend knowledge, and competitive outcomes in the near future. On the other hand, Pharmacogenomics directed medication management also has the potential to improve the efficacy of and decrease the toxicity of some medications used to treat COVID-19 and its most common sequelae. Scientists globally are working urgently to develop vaccines and treatments. Production, as well as the supply chain, were put on hold, causing losses for manufacturers, dealers and consumers alike. For the period the market could face a downside. Still, with a growing health concern, demand would hit the roof as soon as the condition improves.

Further key findings from the report suggest

• The North America pharmacogenomics (PGx) market is anticipated to dominate the in the global market. The major driving factors for the growth of this market are because of rising demand of personalized medicines, high medical reimbursement facilities, and technological advancement.

• The softwares are expected to have the largest market share among the other segments. 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 the technological advancements.

• In April 2020, MedImpact Selects Translational Software launched a pharmacogenetics program leveraging translational Software's API to reduce waste, and to lower the risk of adverse events.

• In August 2019, RXVIP Concierge partnered with translational software to deliver pharmacogenomics.

• The pharmacogenomics (PGx) by application includes Oncology as one of the prospects which is expected to fuel the market growth the major drivers in the market are the increase in the diminishing lifestyle leading to rising prevalence of cancer. Pharmacogenomics (PGx) is expected to help guide healthcare professionals to personalize treatment for cancer patients which will contribute significantly to the market.

• Research organizations are expected to be the largest segment for the pharmacogenomics (PGx) market during the forecast period. The growth is contributed to its wide application in research field. It is relatively a new field that combines pharmacology and genomics to develop effective, safe medications and doses that will be tailored to a person's genetic makeup.

Grab Your Report at an Impressive Discount! Please Click Here @ https://www.reportsanddata.com/discount-enquiry-form/2296

For the purpose of this report, Reports and Data have segmented into the global Pharmacogenomics (PGx) market on the basis of products and services, technology, application, end use, and region:

Products and Services Outlook (Revenue, USD Billion; 2017-2027)

• Products
o Kits
o Assay & Reagents
o Instruments
o Software
• Services
o Genotyping
o SNP Identification
o Pharmacogenetics Testing
o Other Services

Technology Outlook (Revenue, USD Billion; 2017-2027)

• Polymerase Chain Reaction (PCR)
• DNA Sequencing/Next Generation Sequencing (NGS)
• Nucleic Acid Amplification Tests (NAATs)
• Mass Spectrometry
• Gel Electrophoresis
• Hybridization
• Microarray
• Others

Application Outlook (Revenue, USD Billion; 2017-2027)

• Oncology
• Infectious Diseases
• Neurology/Psychiatry
• Cardiovascular
• Others

End Use Outlook (Revenue, USD Billion; 2017-2027)

• Research Organisation
• Pharmaceutical Companies
• Diagnostic Centers
• Others

Regional Outlook (Revenue, USD Billion; 2017-2027)

• North America
• Europe
• Asia Pacific
• MEA
• Latin America

Access the Entire Report packed with TOC, Tables and Figures and Outline of Prominent Companies @ https://www.reportsanddata.com/report-detail/pharmacogenomics-pgx-market

Key selling points of this research study

1. The study gives an in-depth evaluation of the evolving competitive scenario that gives the reader/client a competitive edge.

2. It offers a holistic view of all critical aspects boosting or limiting the growth of the sector

3. The market intelligence report derives an eight-year forecast, including historical, contemporary, and potential market prospects, projecting the estimated progress of the market.

4. It aids informed decision-making by offering an exhaustive database of the pivotal market segments and sub-segments.

Contact Us:

John Watson
Head of Business Development
Reports and Data
40 Wall St. 28th floor New York City, NY 10005 United States
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com

About Us:

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

This release was published on openPR.