Axisresearch
- Healthcare
- Mordor Intelligence
- 115 pages
- Published: 07-06-2019
Market Overview
The propelling factors for the growth of the pharmacogenomics market include the increased expenditure in R&D and an increase in the rate of adverse reactions, which has led to the higher adoption of pharmacogenomics in the global market. The increasing focus on precision medicine, along with the need to enhance drug safety and efficacy, is also further fuelling the growth of this market.
The increasing focus on precision medicine is expected to augment the pharmacogenomics market, as the goal of the precision medicine approach is to integrate genetic and environmental information of particular diseases and/or their responses to particular treatments. This is done to determine or assist in targeted drug therapies, as well as in treatment procedures to be adopted to minimize the side effects and improve results, which will require pharmacogenomics extensively. For instance, in the United States, in 2015, the government announced a new precision medicine initiative to accelerate progress toward individualized care that takes genetic variability into account for various chronic disorders.
Pharmacogenomics is also helpful in cancer treatment and has proved to improve the survival of patients, and at the same time, has found to reduce the unnecessary cost due to unresponsive treatment by patients. Hence, pharmacogenomics for cancer therapy has led to a number of important discoveries in the current cancer treatment, hence, driving the market growth during the forecast period.
The increasing expenditure in R&D and an increase in the rate of adverse reactions have led to the higher adoption of pharmacogenomics in the global market. Furthermore, there is a rapid increase in the number of research studies related to sequencing, especially next-generation sequencing, which is expected to increase the demand for pharmacogenomic tests in the future.
Scope of the Report
As per the scope of this report, pharmacogenomics is defined as the branch of biotechnology where genomic information is used to study the effect of drugs on an individual, thus, providing accurate insights in making clinical decisions and further determining the most effective way of treatment by varying the dosages of drugs. The field of pharmacogenomics is predicted to treat a wide range of health problems, including cardiovascular diseases, Alzheimer’a disease, cancer, HIV/AIDS, and asthma, in the near future.
Key Market Trends
Drug Discovery is the Segment under Application that is Expected to Grow the Fastest during the Forecast Period
Pharmacogenomics is one of the major emerging trends in the field of medical science, which greatly influences the drug development process. With the use of pharmacogenomics, target identification by drugs has become relatively easy, which ensures much higher chances of success for the approval of drugs. In addition, out of 500 genes, only 50 disease genes have drug availability in the market today. This emphasizes the market opportunity in the future for different manufacturers to concentrate on drug discovery using pharmacogenomics.
Pharmacogenomics has also found applications in the treatment of cancer patients, by anticipating the possible differences in drug response, resistance, efficacy, and toxicity of the chemotherapeutic and targeted immune biologic agents. Therefore, pharmacogenomics for cancer therapy has led to a number of important discoveries in the current cancer treatment, which has helped in the growth of the oncology segment of the market studied.
North America holds the Largest Share of the Market and is Expected to Follow the Same Trend over the Forecast Period
North America is expected to dominate the overall market, throughout the forecast period, due to the presence of high per capita healthcare expenditure, coupled with high patient awareness levels, and the high prevalence of target diseases. Moreover, the increasing preference for personalized treatment, along with its high adoption rate, is further contributing to the growth of the market.
Competitive Landscape
The large interest of researchers and investment in the safety and efficiency of drugs by companies are one the major factors responsible for the growth of the market. The government is also involved in funding companies that work to develop bioinformatics technology for precision medicine research applications.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Focus on Precision Medicine
4.2.2 Increasing Expenditure in R&D
4.2.3 High Rate of Adverse Drug Reaction
4.2.4 Enhancement of Drug Safety and Efficiency to Increase Success Rates in Pharmaceutical R&D
4.3 Market Restraints
4.3.1 Difficulties in Detecting Gene Variation that Affect Drug Response
4.3.2 Reimbursement Issues
4.4 Porter’s Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Technology
5.1.1 DNA Sequencing
5.1.2 Microarray
5.1.3 Polymerase Chain Reaction
5.1.4 Electrophoresis
5.1.5 Mass Spectrometry
5.1.6 Other Technologies
5.2 By Application
5.2.1 Drug Discovery
5.2.2 Neurology
5.2.3 Oncology
5.2.4 Pain Management
5.2.5 Other Applications
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East & Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East & Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories Inc.
6.1.2 Biomerieux
6.1.3 AstraZeneca PLC
6.1.4 Bayer AG
6.1.5 Becton, Dickinson and Company
6.1.6 Bio-Rad Laboratories Inc.
6.1.7 F. Hoffmann-La Roche Ltd
6.1.8 Illumina Inc.
6.1.9 Qiagen
6.1.10 Thermo Fisher Scientific Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
MARKET SEGMENTATION
By Technology
DNA Sequencing
Microarray
Polymerase Chain Reaction
Electrophoresis
Mass Spectrometry
Other Technologies
By Application
Drug Discovery
Neurology
Oncology
Pain Management
Other Applications
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South korea
Rest of Asia-Pacific
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
South America
Brazil
Argentina
Rest of South America