Pharmacogenomics Market (By Technology: DNA Sequencing, Microarray, Polymerase Chain Reaction, Electrophoresis, Mass Spectrometry; By Applications: Drug Discovery, Pain management, Neurology, Oncology, Drug Discovery, Cardiovascular diseases, Infectious diseases, Psychiatry; By End User: Hospitals, Clinics, Research institute, Medical, academic institute; By Distribution Channel) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032

The global pharmacogenomics market size was valued at USD 15 billion in 2022 and it is expected to reach around USD 35.67 billion by 2032, poised to grow at a compound annual growth rate (CAGR) of 9.1% during the forecast period 2023 to 2032.

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Key Takeaways

• By application, oncology segment has accounted highest revenue share of over 30.2% in 2022
• By region, North America held 41.3% revenue share in 2022.
• By technology, the polymerase chain reaction segment hit market share of around 36.9% in 2022.

Pharmacogenomics is basically related to genetics related with support and response of the drug therapeutic activity to separate individual. Pharmacogenomics involves the study of the genomes and and the response the drug.  It involves the study of effect of drugs over different genomes of different individual with pharmacokinetics study of (Absorption, distribution, metabolism and elimination of the drug and time taken to perform the ADME process and the affectivity of the drug over a disorder. 

Pharmacogenomics focuses to research and develop more effective and efficient drug therapy suitable to different genomes to increase the effectiveness of the drug and less side effects of the drug to the individual. Increasing population along with pollution with rising chronic disorders such as tuberculosis, cancer, HIV in the individuals and newly developed technologies in health care sector have increased the pharmacogenomics market rate. Moreover, advance develop technologies such molecular diagnostics for more clear understanding and to study the genetics structure of the active patients which also support to boost the growth of pharmacogenomics market rate. 

Growth Factors

The advanced develop technologies of pharmacogenomics with study of the genes in the individuals and to increase the affectivity of drug for therapeutic action and to decrease the adverse of the drugs to the individuals. Increasing number of technologies developed with increasing number of population and rising disorders in individuals such as cancer, HIV, tuberculosis, malaria and may more disease which gave rise to adapt the new technologies for increasing the health care treatment and safety of the patients. Increased awareness among the people and health professionals about the availability of substitute treatment to the disorder and to increase the efficienciency with drug development. 

Moreover, increased research and development based on pharmacogenomics and the study of drug development to produce the effective and efficient drug according to genomes against the various disorders. Increased support of the government in health care center to develop the advance medical technologies for health care support of the patients with increased government policies of reimbursement for the citizens to enable the newly developed treatment and the awareness and benefits obtained boosts the pharmacogenomics market to a greater extent during the forecast period.

Pharmacogenomics Market Scope

Pharmacogenomics Market Dynamics

Key Market Drivers

• Increasing number of disorders - Increasing population with increasing number of chronic disorders such as gastrointestinal disorders, inflammatory bowel diseases, cancer, HIV, AIDS, and many more diseases led to development of advance technologies and efficient drug therapy with good therapeutic response and increased demands from the health professionals for the effective developed drug and advance treatments to increase the safety of the individuals.
• Infrastructure development - Increasing number of developed technologies and medical devices with new equipment’s in health care centers along with newly developed infrastructure which contributes for the growth of the pharmacogenomics market rate to a greater extent
• Research and development - Market Players involved in the research and development process to introduce new drug development with higher efficiency and increased therapeutic index with no adverse effects of the drug to the individuals. Which expands the pharmacogenomics market growth during the forecast period with new advanced technologies and effective drug therapies available.

Market Challenges 

• Increased costing of the treatment - Increased advanced developed methods with new drug developments with higher affectivity to the genomes and increased research and development by the market players emerged to the increased costing of the drug therapies. Which may be the biggest challenge to increase the market rate of pharmacogenomics.
• Underdeveloped Infrastructure facilities - The old infrastructure health care center having the developed advanced technologies developed in underdeveloped health care centers which will affect the consumption of the drugs. Utmost important to develop the infrastructures with wide developments required in health centers for patients safety or may hamper the growth of the market during the forecast period.
• Lack of Skill Work - Increased developments in pharmacogenomics with improved drug efficiency and no adverse drug reactions. New developments and methods with new skills.  Lack of skill among the people to perform the procedures may decrease the pharmacogenomics market rate. Health professionals with required skills are utmost important to perform the therapies with the aim of patients safety.

Market Opportunities

• Growing Disorders - Growing prevalence of chronic disorders among the individuals such as cancer, HIV, AIDS, tuberculosis, gastrointestinal disorders, respiratory disorder and many more. Which led to increase demand of the newly developed effective drug therapies may enhance the pharmacogenomics market rate. Improved technologies and methods developed in pharmacogenomics help to boost the market growth to a greater extent.
• Government Integration - Increased support from the government to develop the drug therapies along with newly developed medical devices with higher efficiency of the drug to the different genomes and to increase the research process of developments. Government support with rules and regulations imposed with reimbursement policies developed for the citizens.
• Key Market Players - The key market players involved in introducing the newly developed drug therapies with high efficiency and increased safety have help to boost the market growth to a higher extent, increased development and research process for new drug development process have increased the market revenue share with increased demand during the forecast period.

Product Insights

Segmentation of pharmacogenomics based on product increased various drug products with higher efficacy and less adverse reactions to the drug therapies. Improved technologies, applications, end users worldwide with enhanced research and development introduced by the market players contributes for the expansion of the pharmacogenomics market during the forecast period.  Increasing population with increased disorders among the people and raised demands from the health professionals for integrating new drug therapies for higher efficacy and less adverse effects have driven the market to grow high. 

Technology Insights

Segmentation of pharmacogenomics based on technology various technologies developed with improved research by the market players and rising of the market growth. Various developed technologies such as sequencing, microarray, mass spectrometer, electrophoresis, polymerase chain reaction. Whereas polymerase chain reaction has the increased market growth with highest revenue share in the pharmacogenomics technology. In irreplaceability usage for amplification in a small segment of DNA. Polymerase chain reaction is examined to grow the pharmacogenomics market rate with highest share during the forecast period. 

Application Insights

Segmentation of pharmacogenomics based on application it is segmented in various disorders incudes such as cardiovascular diseases, neurological disease, oncology disease, psychiatry, infectious diseases, pain managing, HIV, AIDS, tuberculosis and many more diseases. In oncology pharmacogenomics is utilized for effect of drug therapy and developed drug with higher efficiency over the genomes of the individual. The oncology to hold the highest position in the applications section. Increase in prevalence of cancer patients across the world with increased growth of market due to increased demands from the health professionals and new drug therapies and technologies developed with higher efficiency and decreased side effects to eradicate the disease completely. 

End User Insights

Segmentation of pharmacogenomics based on the end user divided in to hospitals, health clinics, research and development sector, laboratories, medical institutes. Moreover hospitals and health clinics have highest revenue share which holds the pharmacogenomics market to the top position with increased demands and awareness developed among the health professionals due to advance drug development and technologies with good output and increased therapeutic index have expanded the market growth to a larger extent during the forecast period.   

Pharmacogenomics Market Share, By Region, 2022 (%)

Geography Insights

Segmentation of pharmacogenomics based on geographical regions North America, Asia Pacific region, Europe, Latin America, Middle East and Africa have the highest increased revenue share with wide drug developments and higher efficiencies and increased demand from the health sectors for patient’s safety and eradication of the diseases.

Recent Development

• In the year2022 March, in community pharmacy Day-Lewis was the first to introduce the private pharmacogenomics testing service.

Pharmacogenomics Market Companies

• Abbott (US)
• Bayer AG (Germany)
• Allergan (Ireland)
• AbbVie Inc (US)
• GmBH (Germany)
• Teva Pharmaceutical Industries ltd (India)
• Natco Pharma Limited (India)
• Lupin (India)
• Sun Pharmaceutical Industries ltd (India)
• Merck & Co Inc (Germany)
• Eli Lilly and Company (US)
• Squiib Company (US)
• Novartis AG (Switzerland)
• Mylan N.V. (US)
• Ferndale Pharma Group Inc, (US)
• f. Hoffmann-La Roche Ltd (Switzerland)
• Pfizer Inc (US)
• Takeda Pharmaceutical Industries ltd (Japan)

Segments covered in the report

By Technology

• DNA Sequencing
• Microarray
• Polymerase Chain Reaction
• Electrophoresis
• Mass Spectrometry

By Applications

• Drug Discovery
• Pain management
• Neurology
• Oncology
• Cardiovascular diseases
• Infectious diseases
• Psychiatry
• Others

By End User 

• Hospitals
• Clinics
• Research institute
• Medical, academic institute

By Distribution Channel

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy

By Geography

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Malaysia
• Philippines
• Latin America
• Brazil
• Rest of Latin America
• Middle East & Africa (MEA)