Pharmacogenomics Market Size Worth US$ 10.43 Billion | Opportunity Analysis By 2032

Global Pharmacogenomics Market size and share is currently valued at USD 4.03 billion in 2023 and is anticipated to generate an estimated revenue of USD 10.43 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 11.2% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024 - 2032

Pharmacogenomics is a branch of precision medicine that involves the investigation of how a person's genetic makeup may respond to drugs. The field combines pharmacology and genomics for the development of effective medications based on the individual's genetic makeup.

Pharmacogenomics has the potential to bring several health benefits. Along with improving safety by enabling healthcare providers to avoid prescribing drugs that may have harmful side effects, it can improve efficiency and reduce healthcare costs by suggesting the most beneficial medication first.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.polarismarketresearch.com/industry-analysis/pharmacogenomics-market/request-for-sample

Pharmacogenomics can assist researchers in finding new medications that directly target the gene change. It finds end uses in academic & research institutes, pharmaceutical & biotechnology companies, and contract research organizations. The rising adoption of precision medicine and increased investment in R&D initiatives focused on pharmacogenomics technologies are driving the pharmacogenomics market demand. Besides, the rising prevalence of adverse drug reactions across the globe is another factor propelling the industry forward.

𝐊𝐞𝐲 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐬

• The market for pharmacogenomics was valued at USD 4.03 billion in 2023 and is projected to reach USD 10.43 billion by 2032.

• The industry is projected to exhibit a robust CAGR of 11.2% over the forecast period.

• North America dominated the market and accounted for more than 37% of industry share in 2023.

• Asia Pacific is anticipated to grow at the fastest CAGR in the pharmacogenomics market over the forecast period.

𝐒𝐨𝐦𝐞 𝐎𝐟 𝐓𝐡𝐞 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐈𝐧 𝐓𝐡𝐞 𝐏𝐡𝐚𝐫𝐦𝐚𝐜𝐨𝐠𝐞𝐧𝐨𝐦𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐀𝐫𝐞:

• Bio-Rad Laboratories, Inc.
• Charles River Laboratories
• Danaher Corporation
• Eurofins Scientific
• Illumina, Inc.
• IQVIA Inc
• Laboratory Corporation of America Holdings
• Medpace
• Mesa Labs, Inc.
• Novogene Co., Ltd.
• PacBio
• Personalis Inc.
• QIAGEN
• Roche Diagnostics
• SOPHiA GENETICS
• Thermo Fisher Scientific Inc.

𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.polarismarketresearch.com/buy/3669/2

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

𝐁𝐲 𝐃𝐢𝐬𝐞𝐚𝐬𝐞 𝐀𝐫𝐞𝐚

• Cancer
• Cardiovascular
• Neurological Diseases
• Other Disease Areas

𝐁𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 & 𝐒𝐞𝐫𝐯𝐢𝐜𝐞

• Kits & Reagents
• Sequencing Kits and Reagents
• PCR Kits and Reagents
• Microarray Kits and Reagents

𝐂𝐥𝐢𝐜𝐤 𝐡𝐞𝐫𝐞 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.polarismarketresearch.com/industry-analysis/pharmacogenomics-market

𝐏𝐡𝐚𝐫𝐦𝐚𝐜𝐨𝐠𝐞𝐧𝐨𝐦𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬

• In 2023, the sequencing segment accounted for the largest market share and has significant advancements in terms of throughput, speed, and cost-effectiveness. These technological improvements have made sequencing more accessible and scalable, driving its widespread adoption in pharmacogenomics research and clinical applications.

• The personalized medicine segment is expected to grow at the fastest CAGR during the forecast period. The growing availability of pharmacogenomics testing services and the integration of genomic data into clinical decision-making processes are further driving the adoption of personalized medicine approaches.

• In 2023, North America dominated the largest market due to healthcare providers in the region recognizing the potential of pharmacogenomics to optimize drug therapy, reduce adverse drug reactions, and improve patient outcomes, leading to widespread adoption.

• Asia Pacific is expected to grow at the fastest CAGR during the forecast period. Supportive government policies, increasing awareness among healthcare professionals and patients, and collaborations between academia, industry, and government entities are also contributing to the growth of the pharmacogenomics market in the Asia Pacific region.

• The global key market players Bio-Rad Laboratories, Inc., Charles River Laboratories, Danaher Corporation, Eurofins Scientific, Illumina, Inc., IQVIA Inc, Laboratory Corporation of America Holdings, Medpace, Mesa Labs, Inc., and more.

𝐃𝐢𝐬𝐜𝐨𝐯𝐞𝐫 𝐀𝐝𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐛𝐲 𝐄𝐱𝐩𝐥𝐨𝐫𝐢𝐧𝐠 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

𝐒𝐮𝐫𝐠𝐢𝐜𝐚𝐥 𝐈𝐧𝐬𝐭𝐫𝐮𝐦𝐞𝐧𝐭 𝐓𝐫𝐚𝐜𝐤𝐢𝐧𝐠 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.linkedin.com/pulse/navigating-growth-surgical-instrument-tracking-systems-tiffany-jacoby-igdpf/

𝐌𝐢𝐜𝐫𝐨𝐟𝐥𝐮𝐢𝐝𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.linkedin.com/pulse/flowing-forward-exploring-dynamic-landscape-p7a3f/

𝐏𝐞𝐥𝐯𝐢𝐜 𝐅𝐥𝐨𝐨𝐫 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐒𝐭𝐢𝐦𝐮𝐥𝐚𝐭𝐨𝐫 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.linkedin.com/pulse/dynamic-leader-pelvic-floor-electric-stimulator-market-tiffany-jacoby-fmwjf/

𝐄𝐧𝐝𝐨𝐝𝐨𝐧𝐭𝐢𝐜 𝐅𝐢𝐥𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.linkedin.com/pulse/innovative-solutions-endodontic-files-market-driving-precision-h4ngf/

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐈𝐧𝐟𝐨:
Polaris Market Research
30 Wall Street, 8th Floor,
New York City, NY 10005,
United States
Phone:+1-929 297-9727
Email: sales@polarismarketresearch.com

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:
Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defence, among different ventures present globally.

This release was published on openPR.