Global Pharmacogenomics Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Pharmacogenomics Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Pharmacogenomics is the study of inherited variations in human genes that affect an individual's reaction to a particular drug. It co-integrates genetic science with pharmaceutical science. Hence, it is the science of individualizing a drug based on an individual's genetic makeup. Pharmacogenomics is also linked to personalized medicine, as environmental conditions, genetic variations, and changing lifestyle greatly influence the type and severity of diseases as well as therapeutic responses that vary from person to person. In pharmacogenomics, various genetic tests are performed to determine or assist in targeted drug therapies as well as treatment procedures to be adopted to minimize side effects and improve results. The genetic tests performed in pharmacogenomics also help to determine an individual's susceptibility to certain diseases.

Market Overview:

The latest research study on the global Pharmacogenomics market finds that the global Pharmacogenomics market reached a value of USD 6067.73 million in 2022. It’s expected that the market will achieve USD 10920.53 million by 2028, exhibiting a CAGR of 10.29% during the forecast period.

Since the outbreak of the COVID-19 virus in December 2019, the disease has spread to nearly 100 countries around the world, and the World Health Organization has declared it an emergency public health event. The COVID-19 epidemic is infected with a large number of people, and its spread and scope far exceed SARS. At present, the number of confirmed cases in Worldwide has exceeded 35 million.

In the face of a rapidly spreading epidemic like the new coronavirus, the industry has also developed rapidly. Thanks to the latest forecasting scientific methodology and research, the industry has made tremendous progress in understanding the COVID-19 virus. Several companies are trying to propose effective preventive measures through vaccines, and the FDA approved the first COVID-19 antibody test and other milestones in April. While researching new and current drugs, we will see more and more pharmacogenomics tests to predict patient response to these drugs.
Even so, for many reasons, there is currently no practice of using pharmacogenomics in everyday medicine. First, the challenges of standardization must be solved to fully realize the transformative potential of genomic medicine, especially in the generation of clinical and genomic data and analysis and the mainstreaming of cross-disciplinary medical teams. This will require continued investment in technology, health infrastructure and labor capacity. In turn, this will lead to the advancement of precision medicine science, with fewer ADRs, which can provide patients with appropriate drugs to improve efficacy, find appropriate doses, reduce the economic burden of ineffective patients and improve clinical outcomes, including during times of crises.

Increased demand for personalized medicines and related government initiatives

Pharmacogenomics is a branch of biotechnology in which genomic information is used to study the response of individuals to drugs. It can make clinical decisions based on the association of genetic variation with any drug by controlling the dose or choosing other drugs. Currently, pharmacogenomics plays an important role in the drug development process, which provides new opportunities for drug discovery. The genetic pharmacology market is expected to be driven by its growing reference and increasing health awareness. Peoples awareness of their interests continues to increase, which is likely to drive demand across the region. The application of pharmacogenomics will greatly help physicians treat specific populations by studying physicians responses to specific drugs. In many cases, pharmacogenomics can be used to prevent adverse drug reactions. For example, for HIV-infected patients, genetic mutation testing is routinely performed before the antiviral drug abacavir (Ziagen) is prescribed. The US Food and Drug Administration (FDA) recommends genetic testing before prescribing the chemotherapy drug Purinethol for patients with acute lymphoblastic leukemia. In the next few years, such government initiatives may promote the development of the pharmacogenomics market.

Opportunities

There are many factors that affect the patients response to drugs, including the patients own internal factors such as age, gender, race/ethnicity, heredity, disease state and organ function, as well as other physiological changes, including pregnancy, breastfeeding, and exogenous factors such as smoking and diet. The concept that genetic mutations can lead to the diversity of disease manifestations and drug responses has been widely recognized and has been confirmed by many studies. For some of the drugs whose genetic factors affect the research, they can be administered according to the guidance of genetic information in treatment to avoid their toxicity and optimize the therapeutic effect.

Region Overview:

From 2022-2027, North America is estimated to witness robust growth prospects.

Company Overview

Abbott Laboratories, Inc is one of the major players operating in the Pharmacogenomics market, holding a share of 18.41% in 2022.

Abbott Laboratories, Inc

Abbott is a global healthcare leader that helps people live more fully at all stages of life. Their portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritional and branded generic medicines. Their 107,000 colleagues serve people in more than 160 countries.

Bayer AG

Bayer AG produces and markets healthcare and agricultural products. The Company manufactures products that include aspirin, antibiotics, anti-infectives, cardiovascular, oncology, central nervous system drugs, over-the-counter medications, diagnostics, and animal health products, as well as crop protection products, plastics, and polyurethanes.

Segmentation Overview:

By type, PolymeraseChainReaction segment accounted for the largest share of market in 2021.

DNA Sequencing

DNA sequencing is the process of determining the nucleic acid sequence the order of nucleotides in DNA. It includes any method or technology that is used to determine the order of the four bases: adenine, guanine, cytosine, and thymine. The advent of rapid DNA sequencing methods has greatly accelerated biological and medical research and discovery.

Microarray

Microarray technology is a powerful tool for the simultaneous analysis of the expression of thousands of genes in tissues, organs, or cells. DNA sequence information encoding RNA for specific genes is physically printed onto microarray chips, thus allowing measurement of the abundance of each RNA molecule in a biological sample.

Polymerase Chain Reaction

Polymerase chain reaction (PCR) is a method widely used to rapidly make millions to billions of copies of a specific DNA sample, allowing scientists to take a very small sample of DNA and amplify it to a large enough amount to study in detail.

Electrophoresis

After DNA molecules are extracted, electrophoresis technology is needed to detect their quantity and quality. Since agarose and polyacrylamide gels were introduced into nucleic acid research, the gel electrophoresis technique for separating DNA according to relative molecular weight has developed into an important experimental method for analyzing and identifying DNA molecules. Agarose or polyacrylamide gel electrophoresis is one of the nuclear techniques of gene manipulation, which can be used to separate, identify and purify DNA fragments.

Mass Spectrometry

Mass spectrometry (MS) has been recognized as a Gold Standard tool for the identification and analysis of individual proteins in expression proteomics studies. Moreover, MS has proven useful for the analysis of nucleic acids for single nucleotide polymorphism (SNP) genotyping purposes. With the increased usage of MS as a standard tool for life science applications and the advancement of MS instrumentation, sample preparation, and bioinformatics, MS technology has entered novel screening and discovery application areas that are beyond the traditional protein identification and characterization applications.

Application Overview:

By application, the DrugDiscovery segment occupied the biggest share from 2017 to 2022.

Drug Discovery

Pharmacogenomics plays a vital role in every key stage of the drug development process. Such as: Drug target Identification: Identification and characterization of the gene coding for the drug target and to assess the variability, Phase III clinical trial: Interpretation of trial results based on pharmacogenetic test results, etc.

Tailored Treatment

Pharmacogenomics will change the way of health care, thus providing the possibility of tailoring treatments based on an individual's genetic makeup. With the accumulation of pharmacogenomics knowledge, medical institutions have implemented genotype-guided treatment in clinical practice.

Oncology

For oncology research, pharmacogenomics help predict cancer susceptibility, tumor progression and recurrence, patient survival, and response and toxicity to chemotherapy. Toxicity to chemotherapy can be predicted largely by genetic polymorphisms.

Pain Management

In the Pain Management field, for example, pharmacogenomics offers a solution to the opioid crisis by identifying potentially opioid-vulnerable patients who could be recommended a nonopioid treatment for their pain condition.

Key Companies in the global Pharmacogenomics market covered in Chapter 3:

Illumina, Inc.
Becton, Dickinson and Company
Bio-Rad Laboratories, Inc.
Bayer AG
F. Hoffmann-La Roche AG
Abbott Laboratories, Inc
QIAGEN
Thermo Fisher Scientific Inc.

In Chapter 4 and Chapter 14.2, on the basis of types, the Pharmacogenomics market from 2018 to 2029 is primarily split into:

DNA Sequencing
Microarray
Polymerase Chain Reaction
Electrophoresis
Mass Spectrometry
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Pharmacogenomics market from 2018 to 2029 covers:

Drug Discovery
Tailored Treatment
Oncology
Pain Management
Other Therapeutic Applications

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)