According to a new market report published by Lucintel, the future of the pharmacogenomic market looks promising with opportunities in cardiovascular diseases, infectious diseases, oncology, neurological diseases, psychiatry, and pain management. The global pharmacogenomic market is expected to grow with a CAGR of 9% from 2020 to 2025. The major drivers for this market are increasing prevalence of several infectious and non-infectious diseases, rising usage in drug discovery processes, increasing demand for personalized drugs, and growing awareness of the benefits associated with pharmacogenomics.
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Pharmacogenomics is the study of the role of the genome in drug response. In this market, sequencing, polymerase chain reaction, gel electrophoresis, mass spectrometry, and microarray are the major technology segments. Lucintel forecasts that polymerase chain reaction will remain the largest technology segment over the forecast period due to its irreplaceability in terms of use for the amplification of a small segment of DNA.
Within this market, hospitals and clinics will remain the largest end user segment over the forecast period due to better infrastructure and technological edge over other medical centers and the presence of highly skilled medical professionals and patients.
North America will remain the largest region over the forecast period due to increasing usage of pharmacogenomics in the development of more potent as well as personalized medicines and high awareness among physicians and drug developers of the benefits of pharmacogenomics, such as increased reliability and reduced side effects.
Affymetrix, AstraZeneca, Bristol-Myers Squibb Company, F. Hoffmann-La Roche, Bayer, Merck, GlaxoSmithKline, Johnson & Johnson, Myriad Genetics, and Pathway Genomics Corporation are among the major suppliers in the global pharmacogenomic market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global pharmacogenomic market by technology, application, end user, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Pharmacogenomic Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global pharmacogenomic market by technology, application, end user, and region as follows:
By Technology [Value ($ Million) shipment analysis for 2014 – 2025]:
Sequencing
Polymerase Chain Reaction
Gel Electrophoresis
Mass Spectrometry
Microarray
Others
By Application [Value ($ Million) shipment analysis for 2014 – 2025]:
Cardiovascular Diseases
Infectious Diseases
Oncology
Neurological Diseases
Psychiatry
Pain Management
Others
By End User [Value ($ Million) shipment analysis for 2014 – 2025]:
Hospitals & Clinics
Research Institutions and Academic Institutes
Others
By Region [Value ($ Million) shipment analysis for 2014 – 2025]:
United States
Canada
Mexico
United Kingdom
Spain
Germany
France
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.