Pharmacogenomics is basically a study of the human genetics make up and tailoring the drug treatment accordingly. This is also known as personalized medicine. It combines the pharmaceutical and genetic science. Personalized medicine take into consideration changes in the genetic makeup of an individual, environmental impact and alteration in life style which would influence the severity and type of disease and response to therapeutics. Each individual response to the drug varies according to the genetic composition. Most of the responses are positive and shows improvement while few face the side effects. To address those variation, it’s necessary to study how the drug processing is affected by the genes. So when the genetic variation is affecting the drug processing and the response there is scope of the clinical study to be conducted and based on the result adjust the dosage or to find a different drug according to the genetic composition of an individual. Thus, the genetic testing helps in determining targeted drug therapies and stream line the protocol of the treatment to improve the results. 

Pharmacogenomics is used in tailoring the drug according to genetic disposition of an individual, optimal dosing, improve drug safety minimize the ADR’s, improve drug discovery to particular diseases and improve on proof of principle for efficacy trial. It has various therapeutic application such as oncology, cardiology, pain management, neurological disorder. Thus, with advancement in study the goal is to shift towards preventing, rather than reacting, optimizing the drug therapy, enhancing drug safety, increasing patient compliance and further reducing healthcare cost.

Oncology dominates the therapeutic applications in the pharmacogenomics market

Oncology, psychiatry, and infectious diseases are the three leading therapeutic areas that are benefited from pharmacogenomics. With help of pharmacogenomics studies, there is a paradigm shift in respective treatments, focusing on the personalized therapeutics. Oncology dominates the therapeutic applications in the pharmacogenomics market. Pharmacogenomics studies help cancer treatment by making selective decision of the drug, by anticipating the drug response, efficacy, safety profile, toxicity within chemotherapeutic agents and targeted immune biologics agents. Since the past few years, there has been an increase in clinical adoption of psychiatric pharmacogenomics testing. Due to cost effectiveness of this testing, it would be of help in near future to select psychotropic drug, its dosing and avoid further side effects according to the need of the patient. Pharmacogenomics is being used to study the genome of both the host and pathogen. The study of pathogen genome used in identification of the antigen, determine microbial resistance and further help in designing vaccine. Therefore, pharmacogenomics has the potential to revolutionize the prevention, diagnosis, and treatment of infectious diseases.

Mass Spectrometry Market is anticipated to grow in the future

DNA sequencing is technique used to determine the sequence of nucleotide (Adenine, Guanine, Cytosine, and Thymine) in a particular region of DNA. With technological advancement, sequencing has gone through three generation which includes: First generation - Sanger sequencing and Gilbert sequencing; Second generation - pryrosequencing; Next generation – Illumina (Solexa). It has ability to read DNA template in real time without amplification providing accurate and precise sequencing data. Thus next generation sequencing dominates the pharmacogenomics market and is anticipated to further grow in the forecast period. PCR is another technology widely used to replicate DNA sequence in short duration of time. Real time PCR helps to provide comprehensive content and also helps in pharmacogenomics studies to give quick accurate result at lower cost. Microarray is another fast growing technology in the field of molecular biology and genetics. DNA microarray technique is used in pharmacogenomics to search and validate new therapeutic targets, to understand the metabolic pathways, mechanism of action, and unwanted secondary effects. Mass spectrometry is a high throughput technology used for detection of genotyping, thus help in understanding how the drug interact with the patient. It is a quick process and less expensive and is used for drug monitoring, thus its market is anticipated to grow in the future.

Asia Pacific promises extensive growth during the forecast period

At present, North America dominates the pharmacogenomics market followed by Europe. In developed countries, with advancement in research and development, the goal is to shift towards preventing, rather than reacting, optimizing the drug therapy, enhancing drug safety, increasing patient compliance and further reducing healthcare cost. Personalized medicine emphasize on the paradigm shift in medicine from reaction to prevention. Asia Pacific is expected to be the most attractive regional market in the global pharmacogenomics market and promises extensive growth during the forecast period. The driving factors for the market are presence of extensive and evolved healthcare infrastructure, increasing preference for better, cost effective and personalized therapeutics for various diseases and infections.  There is being rising R&D infrastructure and government initiatives making the region vulnerable for healthcare investments and also rising research centers for personalized treatment due to extensive population and various infections prevalent in the region.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Pharmacogenomics market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Pharmacogenomics market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Pharmacogenomics market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Pharmacogenomics market?
• Which is the largest regional market for Pharmacogenomics market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Pharmacogenomics market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Pharmacogenomics market worldwide?