Press release
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 - 2032Pharmacogenomics 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.
๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐จ๐ ๐ญ๐ก๐ ๐๐๐ฉ๐จ๐ซ๐ญ: 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.
๐๐๐ฒ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ญ๐๐ญ๐ข๐ฌ๐ญ๐ข๐๐ฌ
โข The market for pharmacogenomics was valued at USD 4.03 billion in 2023 and is projected to reach USD 10.43 billion by 2032.
โข The industry is projected to exhibit a robust CAGR of 11.2% over the forecast period.
โข North America dominated the market and accounted for more than 37% of industry share in 2023.
โข Asia Pacific is anticipated to grow at the fastest CAGR in the pharmacogenomics market over the forecast period.
๐๐จ๐ฆ๐ ๐๐ ๐๐ก๐ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐๐ง ๐๐ก๐ ๐๐ก๐๐ซ๐ฆ๐๐๐จ๐ ๐๐ง๐จ๐ฆ๐ข๐๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐:
โข Bio-Rad Laboratories, Inc.
โข Charles River Laboratories
โข Danaher Corporation
โข Eurofins Scientific
โข Illumina, Inc.
โข IQVIA Inc
โข Laboratory Corporation of America Holdings
โข Medpace
โข Mesa Labs, Inc.
โข Novogene Co., Ltd.
โข PacBio
โข Personalis Inc.
โข QIAGEN
โข Roche Diagnostics
โข SOPHiA GENETICS
โข Thermo Fisher Scientific Inc.
๐๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐๐ซ๐๐ฆ๐ข๐ฎ๐ฆ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.polarismarketresearch.com/buy/3669/2
๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ฅ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
๐๐ฒ ๐๐ข๐ฌ๐๐๐ฌ๐ ๐๐ซ๐๐
โข Cancer
โข Cardiovascular
โข Neurological Diseases
โข Other Disease Areas
๐๐ฒ ๐๐ซ๐จ๐๐ฎ๐๐ญ & ๐๐๐ซ๐ฏ๐ข๐๐
โข Kits & Reagents
โข Sequencing Kits and Reagents
โข PCR Kits and Reagents
โข Microarray Kits and Reagents
๐๐ฅ๐ข๐๐ค ๐ก๐๐ซ๐ ๐ญ๐จ ๐๐๐๐๐ฌ๐ฌ ๐ญ๐ก๐ ๐ ๐ฎ๐ฅ๐ฅ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.polarismarketresearch.com/industry-analysis/pharmacogenomics-market
๐๐ก๐๐ซ๐ฆ๐๐๐จ๐ ๐๐ง๐จ๐ฆ๐ข๐๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ
โข 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.
โข 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.
โข 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.
โข 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.
โข 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.
๐๐ข๐ฌ๐๐จ๐ฏ๐๐ซ ๐๐๐๐ข๐ญ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ฒ ๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ข๐ง๐ ๐๐๐ฅ๐๐ญ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ:
๐๐ฎ๐ซ๐ ๐ข๐๐๐ฅ ๐๐ง๐ฌ๐ญ๐ซ๐ฎ๐ฆ๐๐ง๐ญ ๐๐ซ๐๐๐ค๐ข๐ง๐ ๐๐ฒ๐ฌ๐ญ๐๐ฆ๐ฌ ๐๐๐ซ๐ค๐๐ญ: https://www.linkedin.com/pulse/navigating-growth-surgical-instrument-tracking-systems-tiffany-jacoby-igdpf/
๐๐ข๐๐ซ๐จ๐๐ฅ๐ฎ๐ข๐๐ข๐๐ฌ ๐๐๐ซ๐ค๐๐ญ: https://www.linkedin.com/pulse/flowing-forward-exploring-dynamic-landscape-p7a3f/
๐๐๐ฅ๐ฏ๐ข๐ ๐ ๐ฅ๐จ๐จ๐ซ ๐๐ฅ๐๐๐ญ๐ซ๐ข๐ ๐๐ญ๐ข๐ฆ๐ฎ๐ฅ๐๐ญ๐จ๐ซ ๐๐๐ซ๐ค๐๐ญ: https://www.linkedin.com/pulse/dynamic-leader-pelvic-floor-electric-stimulator-market-tiffany-jacoby-fmwjf/
๐๐ง๐๐จ๐๐จ๐ง๐ญ๐ข๐ ๐ ๐ข๐ฅ๐๐ฌ ๐๐๐ซ๐ค๐๐ญ: https://www.linkedin.com/pulse/innovative-solutions-endodontic-files-market-driving-precision-h4ngf/
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ง๐๐จ:
Polaris Market Research
30 Wall Street, 8th Floor,
New York City, NY 10005,
United States
Phone:+1-929 297-9727
Email: sales@polarismarketresearch.com
๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
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.
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Pharmacogenomics is the study of inherited variations in human genes that affect an individualโs reaction to a particular drug. It co-integrates genetic science with pharmaceutical science. Hence, it is the science of individualizing a drug based on an individualโs genetic makeup. Pharmacogenomics is also linked to personalized medicine, as environmental conditions, genetic variations, and changing lifestyle greatly influence the type and severity of diseases as well as therapeutic responses thatโฆ
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Pharmacogenomics is the study of inherited variations in human genes that affect an individualโs reaction to a particular drug. It co-integrates genetic science with pharmaceutical science. Hence, it is the science of individualizing a drug based on an individualโs genetic makeup. Pharmacogenomics is also linked to personalized medicine, as environmental conditions, genetic variations, and changing lifestyle greatly influence the type and severity of diseases as well as therapeutic responses thatโฆ