Pharmacogenomic services have significantly transformed the entire medical industry. With evolution of these services into direct-to-consumer tests, the global scope has been expanded to cover the entire healthcare gamut, further personalizing treatment modules. The rapid growth of clinically relevant pharmacogenomic knowledge and drugs used for patient treatment in virtually every medical specialty, is consistently aiding in the evolution of prevention-based treatment. With a critical role in the global precision medicine phenomenon, pharmacogenomics is responsible for ensuring safe and effective application of targeted therapeutics. These individualized care regimes are improving the quality of life of the patients and reducing economic, societal, and clinical burden, projecting a future of prosperity.
Presently, service categories within the pharmacogenomics market include genotyping, SNP identification, and pharmacogenetic testing, among others. Although services are widespread, there is still considerable apprehension toward the adoption of genetic testing services in order to stratify patients for drug selection and dosage. Minimal reimbursement in developed countries such as the U.S., though restraining growth in the market, is being overcome by an increasing patient awareness that is leading to growth in the market.
The purpose of the study is to gain a holistic view of the global pharmacogenomics market in terms of various factors influencing it, including regulatory reforms, and technological advancements. The market has been segmented into ’services’, ’applications’, ’technologies’, ’end users’, and ’regions’. The scope of this report is centered upon conducting a detailed study of the products and services allied with the pharmacogenomics market. In addition, the study also includes the exhaustive information on the unmet needs, perception on the new products, competitive landscape, market share of leading manufacturers, growth potential of each service, application, technology, end user, region, and company, as well as other vital information with respect to global pharmacogenomics market. The report presents the reader with an opportunity to unlock comprehensive insights with respect to the market and helps in forming well-informed strategic decisions. The research uncovers some of the substantial parameters that must be taken into consideration before entering into the market.
This research report aims at answering various aspects of the global pharmacogenomics market with the help of the key factors driving the market, the restraints, and the current growth opportunities that are going to shape the future trajectory of the market expansion. The report includes an in-depth examination of the key players and recent developments taking place in this market. Moreover, the report includes chapters on market dynamics (market drivers, opportunities, and challenges) and industry analysis as well.
The research study highlights the factors governing the industry attractiveness with Porter’s Five Forces for a comprehensive understanding of the global pharmacogenomics market. Moreover, the study includes detailed product mapping, market estimation, and analysis of key trends in multiple geographical regions, growth of pharmacogenomics market in each region for different applications, and the key strategies and developments by the prominent pharmacogenomics manufacturers and service providers.
The answers to the following key questions can be derived from this report:
- What are the major market drivers, challenges, and opportunities in the global pharmacogenomics market?
- What are the underlying structures resulting in the emerging trends within the global pharmacogenomics market?
- How will each segment of the global pharmacogenomics market grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2028?
- What are the key developmental strategies which are implemented by the major players in order to sustain in the competitive market? What are the key regulatory implications in developed and developing regions for pharmacogenomics?
- Who are the leading players with significant offerings to the global pharmacogenomics market? What is the current market dominance for each of these leading players?
- What would be the compound growth rate witnessed by the leading players in the market during the forecast period 2019-2028? Which pharmacogenomics service type is estimated to witness the most promising growth?
- What are the key applications in global pharmacogenomics market? What are the major segments of these applications?
- What are the major technologies that are employed in the global pharmacogenomics market? Which is the dominating technology?
- Who are the primary end users of the global pharmacogenomics market? Which is the fastest growing end use segment in the global pharmacogenomics market? What are the services that are being provided by these end users?
- Who are the key manufacturers and service providers in the global pharmacogenomics market, and what are their contributions? Also, what is the growth potential of each major pharmacogenomics manufacturer and service provider?
- What is the scope of the global pharmacogenomics market in North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World? Which pharmacogenomics application and service type dominate these regions?
Key trends targeted in the report:
- What are the emerging trends in the global pharmacogenomics market? How are these trends revolutionizing the treatment procedure?
- Which technologies are anticipated to break-through the current pharmacogenomics regime?
- Which companies are anticipated to be highly disruptive in the future and why?
- What are the regulatory procedures that are required to unify the approval process for emerging pharmacogenomics? How will these enhance the reimbursement scenario?
- What are the gaps in regularizing optimum pharmacogenomics adoption in regular healthcare routines? How are these gaps being tackled?
The key manufacturers who have been contributing significantly to the global pharmacogenomics market include Abbott Laboratories, F. Hoffmann-La Roche Ltd, Illumina, Inc., Laboratory Corporation of America Holdings, Quest Diagnostics, Incorporated, Myriad Genetics, Inc., QIAGEN N.V., Thermo Fisher Scientific Inc., and Genomic Health, Inc., among others.