Industry Outlook:

The latest report by IMARC Group, titled, “Pharmacogenomics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the pharmacogenomics market trends. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global pharmacogenomics market size reached US$ 7.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.3 Billion by 2028, exhibiting a growth rate (CAGR) of 9% during 2023-2028.

Pharmacogenomics is a field of research that studies the relation between the deoxyribonucleic acid (DNA) of an individual and their response to a drug. It helps healthcare providers to select and develop safe, effective medications that can be tailored to the genetic design of a person. Pharmacogenomics studies variations in certain proteins, such as liver enzymes, that affect the performance of a drug. The drug development process through pharmacogenomics consists of various analyses, which include drug receptors, drug uptake, drug breakdown, and targeted drug development. Overall, it decreases healthcare costs via reduced adverse drug reactions, minimal number of failed clinical trials, and lesser time consumption in the drug approval process. Pharmacogenomics also helps in designing precise methods of measuring appropriate drug dosages and the development of more efficient vaccines.

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Global Pharmacogenomics Market Trends:

A significant rise in the research and development (R&D) expenditure activities and an increase in the instances of adverse reactions of drugs are some of the primary factors that are currently driving the global pharmacogenomics market growth. Additionally, there is a rising preference toward precision medicine on account the emerging need for improved drug efficacy and safety, which is further contributing to the growth of the market. Other than this, the increasing prevalence of different types of cancer is also fueling the market growth as targeted therapy has proven to improve the survival rates of patients and decrease redundant costs. Moreover, rapid technological advancements have resulted in the introduction of newer and upgradation of existing laboratories, which is attracting numerous investors from across the healthcare industry, thereby creating a positive outlook for the market.

Competitive Landscape with Key Players:

The competitive landscape of the industry has also been examined along with the profiles of the key players being

• Abbott Laboratories
• AstraZeneca plc
• Bayer AG
• Becton Dickinson and Company
• Bio-Rad Laboratories Inc.
• F. Hoffmann-La Roche AG
• GlaxoSmithKline plc
• Illumina Inc
• Johnson & Johnson
• Merck KGaA
• Myriad Genetics Inc.
• Qiagen N.V.
• Thermo Fisher Scientific Inc

Key Markets Segmentation:

Technology:

• Polymerase Chain Reaction
• Microarray
• DNA Sequencing
• Mass Spectrometry
• Electrophoresis
• Others

Application:

• Oncology
• Infectious Diseases
• Cardiovascular Diseases
• Neurological Diseases
• Psychiatry
• Pain Management
• Others

End User:

• Hospitals and Clinics
• Academic and Research Institutes

Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance
• Market Outlook
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Technology, Application, End User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Abbott Laboratories, AstraZeneca plc, Bayer AG, Becton Dickinson and Company, Bio-Rad Laboratories Inc., F. Hoffmann-La Roche AG, GlaxoSmithKline plc, Illumina Inc., Johnson & Johnson, Merck KGaA, Myriad Genetics Inc., Qiagen N.V. and Thermo Fisher Scientific Inc.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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