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Pharmacogenomics Market Report 2022 : Share, Growth, Trend And Forecast 2031 | Abbott Laboratories, AstraZeneca plc, Bayer AG, Illumina Inc, GlaxoSmithKline plc
Pharmacogenomics Market Trends
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The global pharmacogenomics market report by the business research company identifies the rising demand for precision medicine is driving to be a major growth driver for the pharmacogenomics market. Precision medicine is a medical model that proposes healthcare customization, with medical decisions, treatments, practices, or products tailored to a subset of patients rather than a one-drug-fits-all model. There is rising demand for precision medicine as it is the most advanced in oncology, having wider, exciting applications beyond oncology and late-stage diseases such as rare and genetic diseases. The main aim of precision medicine is to integrate genetic and environmental information about particular diseases and/or their responses to particular treatments. For instance, according to the article published on Linchpinseo in March 2022, the increasing demand for precision medicine investment from leading pharmaceutical companies is experiencing a 1/3 increase in the next five years. Furthermore, in the USA, 30 million people with type 2 diabetes are diagnosed and treated. Precision medicine provides individualized treatment and will re-calibrate current treatment practices. Hence, the increasing demand for precision medicine will drive the pharmacogenomics market.
The global pharmacogenomics market size is expected to grow from $6.64 billion in 2021 to $7.23 billion in 2022 at a compound annual growth rate (CAGR) of 8.93%. The global pharmacogenomics market size is expected to reach $10.51 billion in 2026 at a compound annual growth rate (CAGR) of 9.80%.
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North America was the largest region in the pharmacogenomics market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global pharmacogenomics market during the forecast period. The regions covered in the global pharmacogenomics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Major players in the pharmacogenomics market are Abbott Laboratories, AstraZeneca plc, Becton Dickinson and Company, Bayer AG, F Hoffmann-La Roche AG, Illumina Inc, GlaxoSmithKline plc, Merck KGaA, Myriad Genetics Inc, Thermo Fisher Scientific Inc, OPKO Health Inc, Assurex Health Inc, Empire Genomics LLC, Future Science Group, and Pathway Genomics Corporation.
The global pharmacogenomics market is segmented -
1) By Technology: Next Generation Sequencing, Polymerase Chain Reaction, Gel Electrophoresis, Mass Spectrometry, Microarray, Others
2) By Distribution Channel: Hospital Pharmacy, Online Pharmacy, Retail Pharmacy
3) By Applications: Neurology, Drug Discovery, Oncology, Cardiology, Pain Management, Others
4) By End User: Hospitals and Clinics, Research Institutions, Academic Institutes
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The Pharmacogenomics Market Report Contents Include
1. Executive Summary
2. Pharmacogenomics Market Characteristics
3. Pharmacogenomics Market Trends And Strategies
4. Impact Of COVID-19 On Pharmacogenomics
5. Pharmacogenomics Market Size And Growth
....
26. Africa Pharmacogenomics Market
27. Pharmacogenomics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Pharmacogenomics Market
29. Pharmacogenomics Market Future Outlook and Potential Analysis
30. Appendix
This report covers the trends and market dynamics of the Pharmacogenomics market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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