Pharmacogenomics Market by Product, Technology, Indication, Application

List of Tables

[195 Pages Report] The Pharmacogenomics Market size was estimated at USD 4.06 billion in 2023 and expected to reach USD 4.48 billion in 2024, at a CAGR 10.54% to reach USD 8.20 billion by 2030.

The pharmacogenomics market encompasses the study of genetic variations influencing an individual's response to drugs. Pharmacogenomics combines pharmacology, genomics, and personalized medicine to tailor pharmaceutical treatments to patient's genetic makeup, enhancing efficacy and minimizing adverse effects. Innovations in DNA sequencing and analysis have propelled pharmacogenomics forward. A shift towards tailored therapeutic approaches has heightened the need for pharmacogenomic testing. Rising investment in healthcare, particularly in precision medicine, is a crucial growth driver in the market. However, handling genetic information raises privacy issues and ethical questions. The expense associated with pharmacogenomic testing and analysis can be prohibitive for widespread adoption, challenging the market growth. Moreover, Integrating pharmacogenomic data in drug development can enhance drug efficacy and safety, reducing time and costs. Leveraging AI to predict patient responses to drugs can refine personalized treatment approaches, creating opportunities for market growth.

KEY MARKET STATISTICS
Base Year [2023]	USD 4.06 billion
Estimated Year [2024]	USD 4.48 billion
Forecast Year [2030]	USD 8.20 billion
CAGR (%)	10.54%

Regional Insights

In the U.S., pharmacogenomics has integrated deeply into clinical practices, propelled mainly by extensive research, substantial investments, and supportive regulatory policies. Initiatives by the regulatory authorities toward personalized medicine and the presence of leading biopharmaceutical companies contribute to vibrant market dynamics in the Americas region. The European region is advancing in pharmacogenomics, backed by collaborative projects and funding under Horizon Europe. Initiatives such as the European Pharmacogenetics Implementation Consortium (Eu-PIC) aim to harmonize regional clinical practices. Pharmacogenomics is gaining traction with the Middle East's growing healthcare expenditure and focus on healthcare infrastructure. Countries such as Saudi Arabia and the UAE are investing in genetic research and biotechnology, foreseeing pharmacogenomics as a crucial component of their healthcare strategy. In the APAC region, major countries such as China, India, and Japan are witnessing significant growth driven by government initiatives in biotechnology and healthcare reform. The country's massive genomic studies and investments in genetic testing companies underline a strategic move towards personalized medicine, meeting a growing consumer demand for customized healthcare solutions.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Pharmacogenomics Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Rising incidences of chronic diseases and demand for precision medicine
- Increasing investments for healthcare infrastructures
- Technological advancements associated with molecular diagnostics procedure

Market Restraints
- High costs associated with research and development proficiencies

Market Opportunities
- Emerging trend of personalized medicines and direct-to-consumer genetic testing services
- Rising investment in R&D activities to improve pharmacogenomics

Market Challenges
- Dearth of awareness and required infrastructural facilities

Market Segmentation Analysis
- Technology: Advances in Polymerase Chain Reaction technique
- Application: Diverse applications of pharmacogenomics across industries

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Pharmacogenomics Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Pharmacogenomics Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

SOPHiA GENETICS Announces Expansion of Work with CHU de Nimes

SOPHiA GENETICS, a pioneer in cloud-native software for data-driven medicine, announces the extension of its collaboration with CHU de Nimes, a regional and university hospital in southern France. This partnership leverages the SOPHiA DDM Platform to enhance pharmacogenomics research, aimed at understanding the impact of genetic profiles on medication efficacy. This collaboration underscores the growing importance of precision medicine, providing CHU de Nimes with advanced tools for drug response research, thereby fostering individualized treatment plans for the French patient populace. [Published On: 2023-11-30]

Diatech Pharmacogenetics Announces New Collaboration to Advance Precision Testing in Oncology

Diatech Pharmacogenetics, a European entity in precision medicine, has embarked on a pivotal collaboration with Janssen Pharmaceutica NV to revolutionize patient care in bladder cancer through enhanced access to precision medicine. Specializing in the research and manufacture of In Vitro Diagnostic (IVD) tests across oncology, Diatech is at the forefront of developing innovative diagnostic tools that identify critical gene alterations, thereby facilitating the administration of targeted therapies. Amidst a growing landscape of targeted drug development aimed at managing and potentially curing various cancers, Diatech's initiative focuses on creating a novel molecular test tailored for bladder cancer [Published On: 2023-06-20]

MyRx launches to provide virtual pharmacogenetic testing consultations

The innovative MyRx service, launched by the University of Florida College of Pharmacy, offers a groundbreaking approach for patients to interpret their pharmacogenetic test outcomes, enhancing medication efficacy significantly. MyRx simplifies the complexity of pharmacogenetic testing, which is crucial for tailoring treatment plans for issues such as depression, anxiety, pain management, and cardiovascular health. [Published On: 2023-02-27]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Pharmacogenomics Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Pharmacogenomics Market, highlighting leading vendors and their innovative profiles. These include Admera Health, Agena Biosciences Inc. by Mesa Laboratories, Inc., BiogeniQ Inc., Castle Biosciences, Inc., CENTOGENE N.V., Coriell Life Sciences, Diatech Pharmacogenetics, Dynamic DNA Laboratorie, Empire Genomics by Biocare Medical, Exceltox Laboratories, Genelex Corporation by Invitae, Genetworx, Genomind, GenXys, Gravity Diagnostics, Illunima Inc., Integra Laboratories, Kailos Genetics by healthOme, Myriad Genetics Inc., OneOme LLC, Personalis Inc., Phamatech Inc. by Caris Life Sciences, Quest Diagnostics, Thermo Fisher Scientific Inc., and ViennaLab Diagnostics GmbH by BioVendor Group.

Market Segmentation & Coverage

This research report categorizes the Pharmacogenomics Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- Consumables
- Kits & Reagents
- Services

Technology
- DNA Sequencing
- Electrophoresis
- Mass Spectrometry
- Microarray
- Polymerase Chain Reaction

Indication
- Neurology
- Oncology
- Pain Management

Application
- Clinical Diagnostics Labs
- Clinical Research & Drug Discovery
- Personalized Medicine

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-742BD5183871

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising incidences of chronic diseases and demand for precision medicine
  - 5.1.1.2. Increasing investments for healthcare infrastructures
  - 5.1.1.3. Technological advancements associated with molecular diagnostics procedure
- 5.1.2. Restraints
  - 5.1.2.1. High costs associated with research and development proficiencies
- 5.1.3. Opportunities
  - 5.1.3.1. Emerging trend of personalized medicines and direct-to-consumer genetic testing services
  - 5.1.3.2. Rising investment in R&D activities to improve pharmacogenomics
- 5.1.4. Challenges
  - 5.1.4.1. Dearth of awareness and required infrastructural facilities
5.2. Market Segmentation Analysis
- 5.2.1. Technology: Advances in Polymerase Chain Reaction technique
- 5.2.2. Application: Diverse applications of pharmacogenomics across industries
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Pharmacogenomics Market, by Product

6.1. Introduction
6.2. Consumables
6.3. Kits & Reagents
6.4. Services

7. Pharmacogenomics Market, by Technology

7.1. Introduction
7.2. DNA Sequencing
7.3. Electrophoresis
7.4. Mass Spectrometry
7.5. Microarray
7.6. Polymerase Chain Reaction

8. Pharmacogenomics Market, by Indication

8.1. Introduction
8.2. Neurology
8.3. Oncology
8.4. Pain Management

9. Pharmacogenomics Market, by Application

9.1. Introduction
9.2. Clinical Diagnostics Labs
9.3. Clinical Research & Drug Discovery
9.4. Personalized Medicine

10. Americas Pharmacogenomics Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Pharmacogenomics Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Pharmacogenomics Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. SOPHiA GENETICS Announces Expansion of Work with CHU de Nimes
- 13.3.2. Diatech Pharmacogenetics Announces New Collaboration to Advance Precision Testing in Oncology
- 13.3.3. MyRx launches to provide virtual pharmacogenetic testing consultations
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio