Dublin, Oct. 11, 2024 (GLOBE NEWSWIRE) -- The "Pharmacogenomics Market Report by Technology, Application, End User, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global pharmacogenomics market size reached US$ 7.9 billion in 2023. Looking forward, the market is expected to reach US$ 16.1 billion by 2032, exhibiting a growth rate (CAGR) of 8.2% during 2023-2032.
Significant growth in the pharmaceutical industry across the globe is one of the key factors creating a positive outlook for the market. Moreover, the increasing demand for precision medicines with enhanced drug safety is providing a thrust to the growth of the market. With the increasing prevalence of chronic lifestyle diseases, there is widespread adoption of targeted drug therapies with minimal side effects and improved efficacy.
In line with this, pharmacogenomics is also extensively used for cancer treatments and anticipating the possible drug responses, resistance, efficacy and toxicity of the chemotherapeutic and targeted immune biologic agents, which is also contributing to the market growth.
Additionally, various technological advancements, such as the development of pharmacogenomic biomarker labeling solutions, are acting as other growth-inducing factors. They aid in minimizing the risks of avoidable adverse drug reactions (ADRs) in the body and improve clinical outcomes.
Other factors, including extensive research and development (R&D) activities, along with significant improvements in the healthcare infrastructure, are anticipated to drive the market toward growth.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global pharmacogenomics market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on technology, application and end user.
Breakup by Technology:
- Polymerase Chain Reaction
- Microarray
- DNA Sequencing
- Mass Spectrometry
- Electrophoresis
- Others
Breakup by Application:
- Oncology
- Infectious Diseases
- Cardiovascular Diseases
- Neurological Diseases
- Psychiatry
- Pain Management
- Others
Breakup by End User:
- Hospitals and Clinics
- Academic and Research Institutes
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
- Abbott Laboratories
- AstraZeneca plc
- Bayer AG
- Becton Dickinson and Company
- Bio-Rad Laboratories Inc.
- F. Hoffmann-La Roche AG
- GlaxoSmithKline plc
- Illumina Inc.
- Johnson & Johnson
- Merck KGaA
- Myriad Genetics Inc.
- Qiagen N.V.
- Thermo Fisher Scientific Inc
Key Attributes
| Report Attribute | Details |
| No. of Pages | 136 |
| Forecast Period | 2023-2032 |
| Estimated Market Value (USD) in 2023 | $7.9 Billion |
| Forecasted Market Value (USD) by 2032 | $16.1 Billion |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/as0i82
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