Pharmacogenomics: An Evolving Clinical Tool for Precision Medicine
Pharmacogenomics is an essential characteristic feature of precision medicine, which allows for an individual's genetic makeup affects and their response to a therapeutic drug.
Although tailor-made medication dosing, there still are a large number of cases involving adverse drug reactions, leading to frequent dose titration and iteration concerning treatment. With all these things, these factors impose a significant burden on the patient, provider, and the overall healthcare system.
Clinical implementation
Initiatives to spur adoption by clinicians include the Ubiquitous Pharmacogenomics program in Europe and the Clinical Pharmacogenetics Implementation Consortium (CPIC) in the United States. In a 2017 survey of European clinicians, in the prior year two-thirds had not ordered a pharmacogenetic test.
In 2010, Valderbilt University Medical Center launched Pharmacogenomic Resource for Enhanced Decisions in Care and Treatment (PREDICT); in 2015 survey, two-thirds of the clinicians had ordered a pharmacogenetic test.
In the United States, the FDA has updated medication package inserts based on genomic evidence.
Future
Computational advances have enabled cheaper and faster sequencing. Research has focused on combinatorial chemistry, genomic mining, omic technologies and high throughput screening.
As the cost per genetic test decreases, the development of personalized drug therapies will increase. Technology now allows for genetic analysis of hundreds of target genes involved in medication metabolism and response in less than 24 hours for under $1,000. This a huge step towards bringing pharmacogenetic technology into everyday medical decisions.
MARKET DYNAMICS
The pharmacogenomics market is expected to grow significantly in the coming years, owing to the key factors such as rising research and development activities by the major pharmaceutical companies, and increasing focus on precision medicine. The developing regions are likely to serve more growth opportunities in coming years due to increasing in strategic initiative taken by key players.
MARKET SCOPE
The “Global Pharmacogenomics Market Analysis to 2027” is a specialized and in-depth study of the pharmaceutical industry with a special focus on the global market trend analysis. The report aims to provide an overview of pharmacogenomics market with detailed market segmentation by type, application, end user and geography. The global pharmacogenomics market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading pharmacogenomics market players and offers key trends and opportunities in the market.