The global pharmacogenomics market is expected to grow at a robust rate during the forecast period. This can be ascribed to the growing popularity and adoption of personalized medicine in the field of healthcare. Pharmacogenomics studies the way a patient’s DNA affects the way his/her body responds to drugs. The growing prevalence of various chronic diseases such as cancer, cardiovascular diseases, respiratory ailments, and renal disorders, among others, has significantly increased the demand for developing personalized treatments for the treatment of these diseases, thereby driving the growth of global pharmacogenomics market. Additionally, increasing research & development activities along with various companies entering the personalized medicine space is expected to create lucrative opportunities for the growth of global pharmacogenomics market. For instance, in June 2020, Infosys Limited launched personalized medicine solutions for the pharmaceutical industry to digitally transform their processes and drive stronger business outcomes.

Increasing Rate of Adverse Drug Reaction
Adverse Drug Reactions (ADRs) include medication-related side effects that develop during clinical use. Furthermore, they can continue for a long time, decreasing a patient’s quality of life. ADRs can cause morbidity and fatality in severe circumstances. The increasing number of medications on the market and the rapid rise of polypharmacy to treat different disorders, especially in the elderly population, among others, are all contributing to the global occurrence of ADRs. The fast growth in the number of ADR cases is driving the demand for more effective treatment regimens. Precision medicine and pharmacogenomics offer a feasible answer to this problem by identifying patients who require specific therapeutic modules that will give good therapy while reducing/eliminating the possibility of any ADR. With established attempts to address such important problems, the global pharmacogenomics market growth is expected to witness significant growth in the coming years.


Increasing Research & Development Activities
The growing research & development activities for developing treatments and drugs, taking into consideration the genetic makeup and effect of environment and surroundings on human health, are expected to create lucrative opportunities for market growth through 2027. Precision medicine or personalized medicine forms the basis of pharmacogenomics; the growing adoption and demand for personalized medicine are further expected to support the growth of global pharmacogenomics. Additionally, biotechnology & pharmaceutical companies and academic & research institutions worldwide are making investments, increasing their research & development funds and related activities, and conducting clinical trials, among others related to pharmacogenomics, thereby creating opportunities for market growth in the coming years. For instance, according to a report published by the National Institute of Health of the United States in May 2022, the expenditure on research & development activities related to cancer genomics increased from USD861 million in 2016 to USD1,220 million in 2022. Similarly, the research and development activities related to personalized medicines are increasing across other parts of the globe also. For instance, in October 2021, the Israel Precision Medicine Partnership (IPMP) awarded funding of about USD 9.9 million to 11 projects in Israel for the research of personalized medicine that includes cancers, Crohn’s disease, and rare diseases.



Market Segmentation
The global pharmacogenomics market can be segmented by technology, service, application, end-user, by region. Based on technology, the market can be categorized into PCR, sequencing, microarray, gel electrophoresis, mass spectrometry, and others. Based on service, the market can be fragmented into genotyping, SNP identification, pharmacogenetic testing, and others. Based on application, the market can be grouped into drug discovery, oncology, neurology and psychiatry, pain management, cardiovascular diseases, and others. Based on end-user, the market can be classified into hospitals & clinics, biotechnology & pharmaceutical companies, and others. Regionally, North America dominated the market among Europe, Asia Pacific, Middle East & Africa, and South America. The United States dominated the pharmacogenomics market among all the countries globally on account of increasing research and development activities in the country. In 2022, the revenue in scientific research & development is projected to reach USD8.11 billion in the United States.



Market Players
Abbott Laboratories, Inc., Illumina, Inc., Thermo Fischer Scientific, Inc., AstraZeneca Plc., F.Hoffmann-La Roche AG, Bio-Rad Laboratories, Inc., Becton, Dickinson and Company, Eurofins Scientific SE, Pacific Biosciences of California Inc., Qiagen N.V., PerkinElmer, Inc., Oxford Nanopore Technologies Limited, Agilent Technologies, Inc., Myriad Genetics, Inc, Admera Health, LLC are some of the leading players operating in the global pharmacogenomics market.

Report Scope:
In this report, global pharmacogenomics market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
• Pharmacogenomics Market, By Technology:
  –PCR
  –Sequencing
  –Microarray
  –Gel Electrophoresis
  –Mass Spectrometry
  –Others
• Pharmacogenomics Market, By Service:
  –Genotyping
  –SNP Identification
  –Pharmacogenetic Testing
  –Others
• Pharmacogenomics Market, By Application:
  –Drug Discovery
  –Oncology
  –Neurology and Psychiatry
  –Pain Management
  –Cardiovascular Diseases
  –Others
• Pharmacogenomics Market, By End User:
  –Hospitals & Clinics
  –Biotechnology & Pharmaceutical Companies
  –Others
• Pharmacogenomics Market, By Region:
  –North America
   · United States
   · Canada
   · Mexico
  –Europe
   · Germany
   · France
   · United Kingdom
   · Spain
   · Italy
  –Asia Pacific
   · China
   · India
   · Japan
   · South Korea
   · Australia
  –South America
   · Brazil
   · Argentina
   · Colombia
  –Middle East & Africa
   · South Africa
   · Saudi Arabia
   · UAE
   · Egypt
   · Turkey

Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global pharmacogenomics market.


Available Customizations:
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information
• Detailed analysis and profiling of additional market players (up to five).