Pharmacogenomics (Pgx) Market By Technologies, By Applications, By End Users And Regions — Global Industry Analysis, Growth, Share, Size, Trends And Forecast 2020–2026

The global pharmacogenomics (PGX) market was valued at USD 6 billion in 2019 and is estimated to reach USD 12 billion by 2026, expanding at a CAGR of 8% during the forecast period, 2020–2026. The growth of the market is attributed to increasing demand for personalized therapy, rising prevalence of target chronic diseases, advancements in technology, availability of financial support for research, and favorable government initiatives.

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The individual response to the medication is determined by the various factor such as weight, age, diet, habits, and genetic factors, etc. The genetic make-up of the individual majorly decides the metabolism rate of the medication along with other factors. Depending on the variation in person to person gene make-up, metabolism of the medication varies significantly. One drug that works efficiently may not work for the other person due to variation in the time for metabolism. For example, prodrugs administered are required to be converted into the active form for the therapeutic effect whereas if the metabolism rate is too slow then amount of the prodrug converted to active form may be very less hampering the desired bioavailability of actual active drug which in turn may not work. Whereas, if the metabolism is too fast for the prodrug then too much of active drug can result in the hyperactivity.

The genetic make-up is unique for each person and it doesn’t change hence pharmacogenomic (PGX) testing helps in choosing the patient specific treatment option driving the growth of the market. Pharmacogenomic (PGX) testing enables physicians to choose better suited treatment for the particular patient in turn helping to attain better therapeutic effect driving the growth of the pharmacogenomic (PGX) testing market.

Market Trends, Drivers, Restraints, and Opportunities:

Increasing use of the patient specific treatment, increasing emphasis of healthcare professionals to minimize severe adverse reactions of medication which varies person to person, and growing patient specific approach for the treatment of chronic diseases are considered to drive the global pharmacogenomics (PGX) market during the forecast period.
Lack of awareness among the general population and healthcare professionals are considered as restraints and this may hamper the potential growth of the global pharmacogenomics (PGX) market during the forecast period.
Advancements and innovations in new healthcare technologies, rapidly growing demand in emerging regions, and emergence of pharmacogenetics heralds can create opportunities and boost the growth of the global pharmacogenomics (PGX) market during the forecast period.

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Competitive Landscape:

The world leading players in the global pharmacogenomics (PGX) market include Affymetrix, Inc., Becton Dickinson and Company, Bayer AG, Abbott Laboratories, Inc., Thermo Fisher Scientific Inc., AstraZeneca PLC, and QIAGEN. The key players in the global pharmacogenomic (PGX) market are focusing on the research and development activity.

The Global Pharmacogenomics (PGX) Market has been segmented on the basis of

By Product Types:

Therapeutic Tests
Diagnostic Tests

By Applications:

Oncology
Cardiovascular
Others

By End-users:

Diagnostic Laboratories
Research Laboratories
Academic Research Institutes

By Regions:

Asia Pacific
Europe
North America
Middle East & Africa
Latin America

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Table of Contents

Executive Summary
Assumptions and Acronyms Used
Research Methodology
Pharmacogenomics (Pgx) Market Overview
Global Pharmacogenomics (Pgx) Market Analysis and Forecast by Type
Global Pharmacogenomics (Pgx) Market Analysis and Forecast by Application
Global Pharmacogenomics (Pgx) Market Analysis and Forecast by Sales Channel
Global Pharmacogenomics (Pgx) Market Analysis and Forecast by Region
North Pharmacogenomics (Pgx) Market Analysis and Forecast
Latin Pharmacogenomics (Pgx) Market Analysis and Forecast
Europe Pharmacogenomics (Pgx) Market Analysis and Forecast
Asia Pacific Pharmacogenomics (Pgx) Market Analysis and Forecast
Middle East & Africa Pharmacogenomics (Pgx) Market Analysis and Forecast
Competition Landscape

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