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  • Published On : May 2022
  • Code : CMI1053
  • Industry : Biotechnology
  • Pages : 156
  • Formats :

Pharmacogenomics (also called pharmacogenetics) is a component of genomic medicine that involves a patient’s genomic information to tailor the selection of drugs used in their medical treatment. In this way, pharmacogenomics aims to provide a more individualized (or precise) approach to the use of available medication in treating patients. Pharmacogenomics involves the use of various technologies such as polymerase chain reaction (PCR), microarray, deoxyribonucleic acid (DNA) sequencing, mass spectrometry, and electrophoresis. The genetic tests performed in pharmacogenomics aids in determining the susceptibility to certain diseases and efficacy of the newly developed drugs.

Global pharmacogenomics market is estimated to be valued at US$ 14,028.01 million in 2022 and is expected to exhibit a CAGR of 11.1% during the forecast period (2022-2030).

Figure 1. Global Pharmacogenomics Market Share (%) in Terms of Value, By Application, 2022

Pharmacogenomics  | Coherent Market Insights

Rising demand for precision medicine is expected to drive the market growth during the forecast period.

Surge in global incidence of cancer and increase in ageing population susceptible to disease are expected to boost demand of precision medicines, which are expected to drive the market growth over the forecast period. For instance, according to data published by National Cancer Institute in September 2020, stated that an estimated 1,806,590 new cases of cancer will be diagnosed in the U.S. and 606,520 people will die from the disease in 2020.

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Pharmacogenomics Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2022: US$ 14,028.01 Mn
Historical Data for: 2017-2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 11.1% 2030 Value Projection: US$ 33,014.72 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Technology: DNA Sequencing, Microarray, Polymerase Chain Reaction, Electrophoresis, Mass Spectrometry, Other Technologies
  • By Application: Cardiovascular Diseases, Infectious Diseases, Oncology, Neurological Diseases, Psychiatry, Pain Management, Others
  • By End User: Hospitals & Clinics, Research Institutions and Academic Institutes, Others
Companies covered:

Admera Health, Abbott Laboratories, Agilent Technologies, Novartis AG, Dynamic DNA Laboratories, Empire Genomics, LLC., F. Hoffmann-La Roche Ltd., Illumina, Inc., OneOme, LLC, Myriad Genetics Inc., OPKO Health, Inc. (GeneDx.), Thermo Fisher Scientific, Inc., and  AltheaDx

Growth Drivers:
  • Rising product approvals
  • Increasing inorganic growth strategies by key players
  • rising demand for precision medicine
Restraints & Challenges:
  • Lack of skilled and highly trained healthcare professionals in performing the pharmacogenomics diagnostics test
  • A lack of pharmacogenomic information in the electronic systems used by healthcare professionals

Figure 2.Global Pharmacogenomics Market Share (%), By Technology, 2022

Pharmacogenomics  | Coherent Market Insights

Increasing inorganic growth strategies by key players is expected to drive the market growth during the forecast period

Increasing inorganic growth strategies by key players is expected to drive the global pharmacogenomics market growth during the forecast period. For instance, in November 2021, Agena Bioscience (a part of Mesa Labs' Clinical Genomics Division), a global provider of genetic testing solutions, announced a partnership with Manchester University (MU) to expand awareness and access to pharmacogenomics educational resources. MU is a leading institution providing innovative pharmacogenomic (PGx) educational programs within healthcare and laboratory sciences. This partnership will enable Agena Bioscience to promote and offer its customers the established MU PGx programs including the Graduate Certificate in PGx or Master of Science in PGx degree.

Global Pharmacogenomics Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization has declared it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus (COVID-19) has resulted in more than 519 million infected individuals worldwide, as of May 16, 2022.

COVID-19 can affect the economy in three main ways; by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of drugs from one place to another

Furthermore, players operating in the global pharmacogenomics market are facing major challenges on various fronts due to the COVID-19 pandemic. The major challenges include inadequate supply of raw materials required for manufacturing drug formulations due to irregularities in transportation. Moreover, distributors are experiencing irregular demand for products from the retailers due to an increase in the number of patients suffering from COVID-19 and other life threatening disorders.

Global Pharmacogenomics Market: Restraint

The major factors that are expected to hinder growth of the global pharmacogenomics market include factors such as shortage of skilled and highly trained healthcare professionals in performing the pharmacogenomics diagnostics test, and lack of pharmacogenomics information in the electronic systems used by healthcare professionals. For instance, an article published in Frontiers, a publisher of peer-reviewed open access scientific journals, in September 2021, stated that healthcare professionals lack adequate training and education on pharmacogenomics and they are seriously concerned about the absence of evidence-based clinical guidelines. Lack of available resources such as laboratory equipment, Infrastructure requirements for pharmacogenomics, and skilled and highly trained healthcare professionals also constitutes an important factor for the low integration level of pharmacogenomics.

Key Players

Major players operating in the global pharmacogenomics market include Admera Health, Abbott Laboratories.,  Agilent Technologies, Novartis AG, Dynamic DNA Laboratories, Empire Genomics, LLC., F. Hoffmann-La Roche Ltd., Illumina, Inc., OneOme, LLC, Myriad Genetics Inc., OPKO Health, Inc. (GeneDx.), Thermo Fisher Scientific, Inc. and AltheaDx

Pharmacogenomics is a branch of pharmacology that studies the influence of genetic variation on drug response in patients by correlating gene expression or single-nucleotide polymorphisms with drug efficacy or toxicity. It seeks to develop rational methods for optimizing drug therapy in relation to the patient's genotype, in order to achieve maximum efficacy with minimal side effects. Such approaches promise the advent of personalized medicine, in which drugs and drug combinations are optimized for each individual's unique genetic makeup. Pharmacogenomics is the whole genome application of pharmacogenetics, which examines the single gene interactions with drugs.

Market Dynamics

Key players operating in the global pharmacogenomics market are focusing on adoption of growth strategies such as collaborations and product approvals, which are expected to drive the market growth during the forecast period. For instance, in February 2019, the University of Arizona College of Medicine-Phoenix and Banner Health collaborated to prevent life-threatening adverse reactions to medications. The Flinn Foundation is a privately endowed, philanthropic grant-making organization, awarded the Division of Clinical Data Analytics and Decision Support (CDADS) at the University of Arizona College of Medicine - Phoenix US$ 1.5 millionto incorporate pharmacogenomics and clinical decision support into clinician training and medical practice. Moreover, in December 2021, Thermo Fisher Scientific, a U.S-based supplier of scientific instrumentation, reagents and consumables, and software services,  announced that U.S. FDA had granted premarket approval to Oncomine Dx Target Test as a companion diagnostic (CDx) to help identify non-small cell lung cancer (NSCLC) patients whose tumors carry epidermal growth factor receptor (EGFR) Exon20-insertion mutations for potential treatment with RYBREVANT targeted therapy.

Key features of the study:

  • This report provides in-depth analysis of the global pharmacogenomics market, and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2022-2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global pharmacogenomics market based on the following parameters – Company Highlights, Products Portfolio, Key Highlights, Financial Performance, Strategies
  • Key companies covered as a part of this study include Admera Health, Abbott Laboratories,  Agilent Technologies,  Novartis AG,  Dynamic DNA Laboratories,  Empire Genomics, LLC.,  Hoffmann-La Roche Ltd.,  Illumina, Inc.,  OneOme, LLC,  Myriad Genetics Inc.,  OPKO Health, Inc. (GeneDx.),  Thermo Fisher Scientific, Inc., and  AltheaDx
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global pharmacogenomics market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global pharmacogenomics market.

Detailed Segmentation:

  • Global Pharmacogenomics Market, By Technology :
    • DNA Sequencing
    • Microarray
    • Polymerase Chain Reaction
    • Electrophoresis
    • Mass Spectrometry
    • Other Technologies
  • Global Pharmacogenomics Market, By Application :
    • Cardiovascular Diseases
    • Infectious Diseases
    • Oncology
    • Neurological Diseases
    • Psychiatry
    • Pain Management
    • Others
  • Global Pharmacogenomics Market, By End User :
    • Hospitals & Clinics
    • Research Institutions and Academic Institutes
    • Others
  • Global Pharmacogenomics Market, By Region:
    • North America
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Country
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Country/Sub-region
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • Admera Health.*
      • Company Highlights
      • Products Portfolio
      • Key Highlights
      • Financial Performance
      • Strategies
    • Abbott Laboratories
    • Agilent Technologies
    • Novartis AG
    • Dynamic DNA Laboratories
    • Empire Genomics, LLC
    • F. Hoffmann-La Roche Ltd
    • Illumina, Inc
    • OneOme, LLC
    • Myriad Genetics Inc
    • OPKO Health, Inc. (GeneDx.)
    • Thermo Fisher Scientific, Inc
    • AltheaDx

“*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

Global pharmacogenomics market size is estimated to be valued at US$ 14,028.01 million in 2022 and is expected to exhibit a CAGR of 11.1% between 2022 and 2030.
Factors such as rising product approvals, increasing inorganic growth strategies by key players, and rising demand for precision medicine are expected to drive the market growth over the forecast period.
Polymerase chain reaction segment is expected to hold major market share during the forecast period.
The major factors hampering growth of the market include factors such as lack of skilled and highly trained healthcare professionals in performing the pharmacogenomics diagnostics test, and lack of pharmacogenomic information in the electronic systems used by healthcare professionals.
Major players operating in the market include Major players operating in the global pharmacogenomics market include Admera Health, Abbott Laboratories.,  Agilent Technologies, Novartis AG, Dynamic DNA Laboratories, Empire Genomics, LLC., F. Hoffmann-La Roche Ltd., Illumina, Inc., OneOme, LLC, Myriad Genetics Inc., OPKO Health, Inc. (GeneDx.), Thermo Fisher Scientific, Inc. and AltheaDx

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