The Global Pharmacogenomics Market is expected to grow at a ~CAGR of 5.8% during the forecast period.
The key players for the Global Pharmacogenomics Market are Myriad Genetics, Inc. (U.S.), 23andMe, Inc. (U.S.), Pathway Genomics (U.S.), GeneTech (U.S.), GeneDx. (U.S.), Future Science Group (U.S.), Teva Pharmaceutical Industries Ltd. (Israel), Assurex Health, Inc. (U.S.), and others.
The pharmacogenomics market is growing at an incremental pace of development on the global stage due to the large number of advantages associated to personalized therapy. Market Research Future, a firm which specializes in market reports related to the healthcare sector among others, recently forecasted in its report on Global Pharmacogenomics Market Research Report- Forecast to 2023 that the market will demonstrate an exceptional CAGR while achieving million dollar growth readily in the forecast period.
Pharmacogenomics is one of the essential elements in personalized medicine. The simple concept in pharmacogenomics is that interindividual variability in drug response is a consequence of multiple factors, including genomics, epigenomics, the environment and a patient’s characteristics, such as gender, age and/or concomitant medication.
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Pharmacogenomics plays an important role in drug discovery and development. Pharmacogenomics refers to the effects of genetic polymorphism and genomic variants on drug response, its information can help in selection of the optimal drug, dose, treatment process, and avoid adverse drug reactions. As adverse drug reactions have been reported as one of the leading causes of death among hospitalized patients. Adverse drug reactions are also referred as the factor behind loss of confidence in the healthcare system and the diminishing satisfaction of both patients and health professionals.
Latest Industry Updates
Nov 2017: Myriad Genetics, Inc., announced positive results from a double-blind, multi-center, randomized controlled trial assessing the impact of the GeneSight Psychotropic test (GeneSight) on psychiatric treatment response in 1,200 patients with major depressive disorder. GeneSight is one of the leading pharmacogenomics test to help guide medication selection for mental health disorders.
June 2016: OneOme announced about key business milestones in advance of launching its RightMed test. RightMed test is a cost-effective, comprehensive, personalized pharmacogenomics product which analyses 22 genes which provided at the point of care. The OneOme platform was co-developed and exclusively licensed from Mayo Clinic to bring pharmacogenomics into routine clinical care. OneOme’s RightMed test is currently in use by Mayo Clinic Center for individualized medicine. The test helps providers easily make personalized treatment decisions across more than 300 medications for more than 20 medical indications.
The Global Pharmacogenomics Market is segmented on the basis of technology, application, and end user.
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On the basis of technology, the market is segmented into microarray, sequencing, polymerase chain reaction, and others. The sequencing segment is sub-segmented into Sanger sequencing, pyrosequencing, next-generation sequencing, and others. On the basis of application, the market is segmented into oncology, cardiology, neurological disorders, and others. The oncology segment, by technology, is sub-segmented into breast cancer, lung cancer, and others. On the basis of end users, the market is segmented into hospitals, research organizations, academic institute, and others.
1 Report Prologue
2 Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
3 Research Methodology
3.2 Primary Research
3.3 Secondary research
3.4 Market Size Estimation
4 Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
5 Market Factor Analysis
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