Global Pharmacogenomics Market 2022-2026

Global Pharmacogenomics Market 2022-2026

Technavio has been monitoring the pharmacogenomics market and it is poised to grow by $2.50 bn during 2022-2026, accelerating at a CAGR of 6.93% during the forecast period. Our report on the pharmacogenomics market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis of the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the rising prevalence of genetic diseases and disorders, rising approval of advanced pharmacogenomics testing products, and increasing affordability due to a reduction in the cost of genetic testing.

The pharmacogenomics market analysis includes the end-user segment and geographic landscape.

Technavio's pharmacogenomics market is segmented as below:

By End-user

• Hospitals and clinics
• Research organizations
• Academic

By Geographical Landscape

• North America
• Europe
• Asia
• Rest of World (ROW)

This study identifies the growing adoption of direct-to-consumer genetic tests in early disease diagnosis as one of the prime reasons driving the pharmacogenomics market growth during the next few years. Also, advancements in next-generation sequencing and the growing adoption of pharmacogenomics testing in reducing adverse drug events will lead to sizable demand in the market.

Technavio presents a detailed picture of the market through study, synthesis, and summation of data from multiple sources by analyzing key parameters. Our report on the pharmacogenomics market covers the following areas:

• Pharmacogenomics market sizing
• Pharmacogenomics market forecast
• Pharmacogenomics market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading pharmacogenomics market vendors that include 23andMe Inc., Abbott Laboratories, Admera Health, ATS GENETECH PVT. LTD., Dynamic DNA Laboratories, geneOmbio Technologies Pvt. Ltd., Illumina Inc., Laboratory Corp. of America Holdings, Mesa Labs Inc., Myriad Genetics Inc., OneOme LLC, OPKO Health Inc., QIAGEN NV, Quest Diagnostics Inc., and Thermo Fisher Scientific Inc. Also, the pharmacogenomics market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all future growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market through study, synthesis, and summation of data from multiple sources by analyzing key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.