The global pharmacogenomics market size was worth $5.4 billion in 2018, and is expected to reach $10.4 billion by 2026, registering a CAGR of 8.9% from 2019 to 2026. The report provides a comprehensive analysis of top investment pockets, drivers & opportunities, major segments, value chain, and competitive scenario.
Increasing demand for personalized therapy, growing prevalence of life-threatening diseases worldwide, and technological advancements in the molecular techniques used for pharmacogenomics-based diagnostics have fueled the growth of global pharmacogenomics market. On the other hand, lack of well-trained as well as technically skilled professionals and complexities in finding the right gene affecting the drug response have happened to curb the growth to some extent. However, technological advancements in molecular techniques used for pharmacogenomics diagnostic tests have created lucrative opportunities in the segment.
The report analyzes and forecasts the pharmacogenomics market at global and regional levels. The market has been forecast based on volume (Tons) and value (US$ Mn) from 2019 to 2026. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global pharmacogenomics market. The Porter’s Five Forces model has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein various applications have been benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the pharmacogenomics market by segmenting it in terms of form and application. The segment has been analyzed based on the present and future trends. Regional segmentation includes the current and projected demand in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides size (in terms of volume and value) of pharmacogenomics market for the base year 2018 and the forecast between 2019 and 2026. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
The report provides an extensive competitive analysis and profiles of the key market players, such as Abbott Laboratories, Dynamic DNA Laboratories, Empire Genomics, LLC, F. Hoffmann-La Roche Ltd., Illumina, Inc., OneOme LLC, Myriad Genetics Inc., OPKO Health, Inc. (GeneDx), and Thermo Fisher Scientific, Inc. The other players included in the value chain analysis (but not included in the report) are Assurex Health Inc., Teva Pharmaceutical Industries Ltd., and Bayer AG.
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are: