by The global pharmacogenomics market size was USD 16.40 billion in 2023, is estimated at USD 17.92 billion in 2024, and is projected to surpass around USD 39.89 billion by 2033, growing at a CAGR of 9.3% from 2024 to 2033.
The rapid increase of the pharmacogenomics technologies and advanced drug developments helps to boost the market growth to a greater extent. The wide acceptance of the developed technologies of the pharmacogenomics have increased the market growth. Increased efficiency of the drug and decreased adverse reactions with new developments affected the market rate to increase the pharmacogenomics. Government also supported to increase the drug development with higher efficacy and developing infrastructures for developed health care facilities for citizens and providing policies such a reimbursement which help to boost the market to grow to a higher extent.
Regional snapshots
The various geographical regions have contributed for increasing the pharmacogenomics market growth with advanced developed technologies and new drug development with increased research and development with rapid acceptance of the newly developed drug and technologies for increased safety and higher efficacy with no adverse reactions have increased the demand from the health professionals from various regions.
North America involves US, Canada, Asia Pacific involves India, China, Japan, Latin America, Middle East Africa, Europe are the region which help to support and increased demands of developed technologies in pharmacogenomics with increased revenue share and market growth during the forecast period.
- The U.S. pharmacogenomics market size was estimated at USD 4.77 billion in 2023 and is predicted to be worth around USD 12.21 billion by 2033, at a CAGR of 9.9% from 2024 to 2033.
Report Highlights
- Pharmacogenomics based on newly developed technology such as sequencing, microarray, mass spectrometer, electrophoresis, polymerase chain reaction. Polymerase chain reaction to be top to hold the highest market revenue share and to rise the market. Utilized in amplification of small segment of DNA. Polymerase chain reaction increases the pharmacogenomics market with developed technology.
- Pharmacogenomics based on applications it is widely used in cardiovascular diseases, neurological disease, oncology disease, psychiatry, infectious diseases, pain managing, HIV, AIDS, tuberculosis and many more diseases with increased pharmacogenomics market rate.
- Pharmacogenomics based on end users divided in to hospitals, health clinics, research and development sector, laboratories, medical institutes. Whereas the hospitals and clinics to be driving force to increase the market of pharmacogenomics.
Pharmacogenomics Market Scope
| Report Coverage | Details |
| Market Size in 2023 | USD 16.40 Billion |
| Market Size in 2024 | USD 17.92 Billion |
| Market Size by 2033 | USD 39.89 Billion |
| Growth Rate from 2024 to 2033 | CAGR of 9.3% |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | Technology, Applications, End User, and Distribution Channel |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Pharmacogenomics Market Dynamics
Drivers
The developed drug therapies and technologies of pharmacogenomics with wide applications have increased the market rate. Increased population with increased number of chronic disorders such as cancer, HIV, AIDS, tuberculosis have increased the demand for new drug development drives the pharmacogenomics market to grow high. Increase research and developing more drugs and technologies with higher efficacy to different genomes have raised the market growth. Market Players involved in introducing new drugs helps to boost the pharmacogenomics market high.
Restraints
Increase population with increased number of chronic disorders among the individuals such as HIV, AIDS, cancer, tuberculosis and many moored disorders have contributed for the increasing the pharmacogenomics market with rising demands from the health professionals but increased costing may led to hamper the growth of the market. Lack of skill among the people due to developed technologies professional skill workers are required to perform the procedure or may decrease the growth. Old infrastructure to be developed to the new with new facilities and development to improve the market growth.
Opportunities
The developing of underdeveloped countries with increased facilities and opportunities have increased the growth of the market. Advanced developed features with improved pharmacogenomics market with new technologies with higher efficacy of the drugs developed considering the genomes. Increasing chronic disorders such as cancer, tuberculosis, AIDS, HIV and many more rise the market. Market players involved in introducing new drug developments and increased research have helps to boost the market growth of pharmacogenomics.
Challenges
The increased drug development process considering the genomes and increased research development also led to the increased costing of the new drug therapies developed can be challenge to increase the market growth of pharmacogenomics.
The old infrastructures of the heath care centers with new drug developments can affect the pharmacogenomics market rate. The old infrastructure should be newly developed to increase the patient’s safety. Newly developed technologies and drug developments also requires skill for performing the new procedures. Lack of skill may affect the market growth with decreased rate of the pahrmacogenomics during the forecast period.
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Pharmacogenomics Market Companies
- Abbott (US)
- Bayer AG (Germany)
- Allergan (Ireland)
- AbbVie Inc (US)
- GmBH (Germany)
- Teva Pharmaceutical Industries ltd (India)
- Natco Pharma Limited (India)
- Lupin (India)
- Sun Pharmaceutical Industries ltd (India)
- Merck & Co Inc (Germany)
- Eli Lilly and Company (US)
- Squiib Company (US)
- Novartis AG (Switzerland)
- Mylan N.V. (US)
- Ferndale Pharma Group Inc, (US)
- f. Hoffmann-La Roche Ltd (Switzerland)
- Pfizer Inc (US)
- Takeda Pharmaceutical Industries ltd (Japan)
Recent Development
- In the year 2022 March, in a community pharmacy Day-Lewis was the first to introduce a private pharmacogenomics testing service.
Segments covered in the report
By Technology
- DNA Sequencing
- Microarray
- Polymerase Chain Reaction
- Electrophoresis
- Mass Spectrometry
By Applications
- Drug Discovery
- Pain management
- Neurology
- Oncology
- Cardiovascular diseases
- Infectious diseases
- Psychiatry
- Others
By End User
- Hospitals
- Clinics
- Research institute
- Medical, academic institute
By Distribution Channel
- Hospital Pharmacy
- Online Pharmacy
- Retail Pharmacy
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Philippines
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
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