Global Pharmacogenomics Market, By Technology (DNA Sequencing, Microarray, Polymerase Chain Reaction, Electrophoresis, Mass Spectrometry), Application (Drug Discovery, Neurology, Oncology, Pain Management, Others), End-Users (Hospitals, Research Organisation, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy) - Industry Trends and Forecast to 2029.
Global Pharmacogenomics Market Analysis and Insights
From the name itself, it is clear that pharmacogenomics is that branch of genetics that is concerned with determining the response of an individual to particular drugs. Pharmacogenomics is a technology that is used in the development of safe and effective drugs against a wide range of diseases and disorders.
- The pharmacogenomics is supportive and aims to reduce the severity of the symptoms. Data Bridge Market Research analyses that the pharmacogenomics market will grow at a CAGR of 10.80% during the forecast period of 2022 to 2029. This indicates the the pharmacogenomics market value, which was USD 7.08 billion in 2021, would rise up to USD 16.08 billion by 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
2022 to 2029
2022 – 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Technology (DNA Sequencing, Microarray, Polymerase Chain Reaction, Electrophoresis, Mass Spectrometry), Application (Drug Discovery, Neurology, Oncology, Pain Management, Others), End-Users (Hospitals, Research Organisation, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Market Players Covered
Novartis AG (Switzerland), Mylan N.V. (US), Ferndale Pharma Group, Inc. (US), F. Hoffmann-La Roche Ltd (Switzerland), Pfizer Inc. (US), Takeda Pharmaceutical Company Limited (JJapan), AstraZeneca (UK), GlaxoSmithKline plc (UK), Bristol-Myers Squibb Company (US), Eli Lilly and Company (US), Merck & Co., Inc. (Germany), Sun Pharmaceutical Industries Ltd. (India), NATCO Pharma Limited (India), LUPIN (India), Teva Pharmaceutical Industries Ltd (Jerusalem), Boehringer Ingelheim International GmbH (Germany), AbbVie Inc. (US), Allergan (Ireland), Abbott (US) and Bayer AG (Germany)
Pharmacogenomics Market Dynamics
- Growing prevalence of disorders
Rising incidence rate of gastrointestinal related disorders, inflammatory bowel diseases and family history of diseases and disorders such as cancer can lead to the development of effective drugs. This in turn would create huge demand for effective, efficient and advanced medical treatment for anorectal disorders.
- Increasing investment for healthcare infrastructure
Another significant factor influencing the growth rate of the market is the rising healthcare expenditure which helps in improving its infrastructure. Growth and expansion of healthcare industry especially in the developing economies would invite the use and application of new and advanced medial technologies, equipment and drugs. This will directly increase the demand for anorectal disorders treatment.
- Research and development activities
Growing number of strategic collaboration between public and private market players is inducing growth in the number of research and development activities on daily basis. These research and development proficiencies are being conducted in the area of novel drugs and medical technologies which will propel the demand for anorectal disorders treatment.
Furthermore, presence of strong pipeline for antiviral drugs, rising geriatric population base and increasing prevalence of congenital problems such as vacterl, digestive disorders, and down syndrome are the factors that will expand the market growth rate. Other factors such as availability of cost effective drugs and rising personal disposable income will positively impact the market's growth rate.
Growing prevalence of life-threatening disorders globally and improvement in molecular techniques for developing pharmacogenomics-based therapeutics and rising improvements in detection and treatment methodology will further create lucrative market growth opportunities. Rising medical tourism globally and high potential of growth in the untapped market will create enough market growth opportunities.
Restraints/Challenges Global Pharmacogenomics Market
However, high costs associated with research and development proficiencies will emerge as one of the biggest restraints for the market. Dearth of awareness and required infrastructural facilities in the underdeveloped and backward economies, side effects on the health owing to the consumption of drugs, time involved in the treatment and unfavourable conditions arising due to COVID-19 outbreak will further derail the market growth rate. Slow rate of approval for drugs and inhibitors and increasing cases of patent expiry will also challenge the market growth rate.
This pharmacogenomics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on pharmacogenomics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Patient Epidemiology Analysis
American Cancer Society estimates that in 2020, around 1.8 million new cases will be diagnosed with cancer and around 606,520 people would die due to it.
The pharmacogenomics market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analyses of epidemiology to market growth are analysed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.
COVID-19 Impact on Pharmacogenomics Market
COVID-19 had a demeaning effect on the growth of the market. Healthcare resources were entirely shifted towards meeting the pandemic demands and teating the COVID patients. Non-essential healthcare procedures were put on a halt, thereby narrowing down the scope of growth. However, with the relaxations ahead of the pandemic, the market is projected to bounce back.
Global Pharmacogenomics Market Scope
The pharmacogenomics market is segmented on the basis of technology, application, end-users and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- DNA Sequencing
- Polymerase Chain Reaction
- Mass Spectrometry
On the basis of technology, the global pharmacogenomics market is segmented into DNA sequencing, microarray, polymerase chain reaction, electrophoresis and mass spectrometry.
- Drug Discovery
- Pain Management
Based on application, the global pharmacogenomics market is segmented into drug discovery, neurology, oncology, pain management and others.
- Research Organisation
On the basis of end-users, the global pharmacogenomics market is segmented into hospitals, research organisationsand others.
- Hospital Pharmacy
- Online Pharmacy
- Retail Pharmacy
On the basis of distribution channel, the global pharmacogenomics market has been bifurcated into hospital pharmacy, online pharmacy and retail pharmacy.
Pharmacogenomics Market Regional Analysis/Insights
The pharmacogenomics market is analysed and market size insights and trends are provided by country, technology, application, end-users and distribution channel as referenced above.
The countries covered in the pharmacogenomics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the pharmacogenomics market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the presence of major key players, well-developed healthcare infrastructure in this region, surge in the awareness towards early diagnosis of the medical condition for better treatment and favorable reimbursement policies. Asia-Pacific on the other hand is projected to exhibit the highest growth rate during the forecast period due to the increase in the incidence of gastrointestinal disorders and growing government support.
The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Pharmacogenomics Market Share Analysis
The pharmacogenomics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to pharmacogenomics market.
Some of the major players operating in the pharmacogenomics market are:
- Novartis AG (Switzerland)
- Mylan N.V. (US)
- Ferndale Pharma Group, Inc. (US)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Pfizer Inc. (US)
- Takeda Pharmaceutical Company Limited (JJapan)
- AstraZeneca (UK)
- GlaxoSmithKline plc (UK)
- Bristol-Myers Squibb Company (US)
- Eli Lilly and Company (US)
- Merck & Co., Inc. (Germany)
- Sun Pharmaceutical Industries Ltd. (India)
- NATCO Pharma Limited (India)
- LUPIN (India)
- Teva Pharmaceutical Industries Ltd (Jerusalem)
- Boehringer Ingelheim International GmbH (Germany)
- AbbVie Inc. (US)
- Allergan (Ireland)
- Abbott (US)
- Bayer AG (Germany)
Research Methodology : Global Pharmacogenomics Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-pharmacogenomics-market