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Pharmacogenomics Technology Market Analysis & Forecast to 2024-2034

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    Report

  • 200 Pages
  • May 2024
  • Region: Global
  • Erevna Healthcare
  • ID: 5968608
The global pharmacogenomics technology market accounted for USD 6.80 billion in 2023 and is expected to reach at USD 17.11 billion by 2034 with a CAGR of 8.75% during the forecast period 2024-2034. The continuous progress in genomics, growing incidence of chronic diseases, rising need for personalized medicine, decreasing costs of genomic sequencing, ongoing technological advancements, surge in personalized care, a heightened emphasis on tailoring medical interventions to individual patients, increasing collaborations among key market players, growing approvals from regulatory bodies, and surge in the introduction of innovative pharmacogenomics technology are some of the factors driving the market growth.

Surge in the introduction of innovative pharmacogenomics technology is predicted to boost the market growth during the forecast period. Pharmacogenomics technologies merge pharmacology with genomics to create personalized medicine tailored to an individual's genetic profile. They entail examining how an individual's genetic differences impact their reaction to medications. This understanding allows healthcare providers to anticipate drug responses, optimize dosage, and reduce the risk of adverse effects. For instance, in May 2022, Invitae has introduced a 38-gene testing panel called Invitae Pharmacogenomics (PGx) Panel, which incorporates the Invitae Pharmacogenomics Mental Health Panel along with a clinical decision support tool.

By technology, polymerase chain reaction (PCR) was the highest revenue-grossing segment in the global pharmacogenomics technology market in 2023. PCR plays a vital role in genetic analysis and diagnostics by enabling the amplification of targeted DNA sequences. This technique is essential for genotyping and identifying genetic variations linked to drug response. PCR is extensively employed to detect single nucleotide polymorphisms (SNPs) and genetic mutations that influence drug metabolism and effectiveness. Additionally, immunohistochemistry (IHC) is predicted to grow at the fastest CAGR during the forecast period owing to its substantial influence on drug development & tailored medical treatments, growing adoption for analyzing patterns of protein expression & biomarkers, and rise in regulatory approvals. For instance, in April 2023, Leica Biosystems has obtained clearance for the BOND MMR Antibody Panel, providing customers with an IHC Mismatch Repair (MMR) option for screening colorectal cancer patients who may be at risk of Lynch syndrome.

By application, oncology was the highest revenue-grossing segment in the global pharmacogenomics technology market in 2023 owing to the increase in the rate of diagnosis, a rise in the prevalence of cancer, and a surge in collaborations among market participants. For instance, in January 2023, QIAGEN has revealed a strategic collaboration with Helix, a population genomics company, to support the development of companion diagnostics for genetic diseases. Additionally, cardiovascular disease is predicted to grow at the fastest CAGR during the forecast period owing to the growing demand for tailored treatment and increasing incidence of cardiovascular diseases.

North America region is anticipated for the highest revenue share during the forecast period owing to the presence of well-established players in operation, rising trend of collaborations among market participants, increase in research & development of integrated medicine, and surge in the introduction of new products. For instance, in May 2022, Blue Care Network in Michigan launched Blue Cross Personalized Medicine, a comprehensive pharmacogenomics precision medicine initiative. This program utilizes genetic testing to tailor prescription therapies for individuals, after evaluating the list of recommended pharmaceuticals for different cardiovascular, oncological, and behavioral health conditions. Additionally, MEA region is predicted to grow at fastest CAGR during the forecast period owing to the rising occurrence of chronic diseases, a heightened focus on precision medicine, growing advancements in technology, increased demand for personalized & targeted therapies, growing investments from governments institutions, and surge in initiatives related to pharmacogenomics. In October 2023, King Faisal Specialist Hospital and Research Center (KFSH&RC) in Saudi Arabia announced the initiation of the initial stage of clinical pharmacogenomics services at its cardiac center.

This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.

Report Scope:

  • Base Year: 2023
  • Forecast Period: 2024-2034
  • Study Coverage
  • Market Forecast by Technology and Application
  • Market Forecast for 5 Regions and 17+ Countries
  • North America (U.S. and Canada)
  • Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
  • Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
  • MEA (South Africa, GCC, Rest of MEA)
  • Exhaustive Company Profiles of Top 10+ Major Market Players

Segmentation: Pharmacogenomics Technology Market Report 2023 - 2034

Pharmacogenomics Technology Market Analysis & Forecast by Technology 2023 - 2034 (Revenue USD Bn)

  • Polymerase Chain Reaction (PCR)
  • Sequencing
  • Immunohistochemistry
  • In-situ Hybridization
  • Others

Pharmacogenomics Technology Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)

  • Oncology
  • Breast Cancer
  • Lung Cancer
  • Cervical Cancer
  • Colorectal Cancer
  • Others
  • Infectious Diseases
  • Cardiovascular Disease
  • Neurological Disorders
  • Immunological Disorders
  • Others

Pharmacogenomics Technology Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC
  • Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM
  • Middle East & Africa
  • South Africa
  • GCC
  • Rest of MEA

Table of Contents

1. Research Methodology
1.1. Study Objectives
1.2. Study Scope
1.3. Research Assumptions
1.4. Research Framework
2. Introduction
2.1. Market Definition
2.2. Global Pharmacogenomics Technology Market Overview
3. Executive Summary
4. Market Environment Analysis
4.1. Porter’s 5 Forces Analysis
4.2. PESTEL Analysis
4.3. SWOT Analysis
5. Market Dynamics
5.1. Drivers Analysis
5.2. Restraints Analysis
5.3. Opportunities Analysis
5.4. Threats Analysis
5.5. Trend Analysis
6. COVID-19 Impact Analysis
7. Pharmacogenomics Technology Market: Technology Estimates & Trend Analysis
7.1. Technology Segment Opportunity Analysis
7.2. Polymerase Chain Reaction (PCR)
7.2.1. Polymerase Chain Reaction (PCR) Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
7.3. Sequencing
7.3.1. Sequencing Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
7.4. Immunohistochemistry
7.4.1. Immunohistochemistry Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
7.5. In-situ Hybridization
7.5.1. In-situ Hybridization Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
7.6. Others
7.6.1. Others Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
8. Pharmacogenomics Technology Market: Application Estimates & Trend Analysis
8.1. Application Segment Opportunity Analysis
8.2. Oncology
8.2.1. Oncology Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
8.2.2. Breast Cancer
8.2.2.1. Breast Cancer Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
8.2.3. Lung Cancer
8.2.3.1. Lung Cancer Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
8.2.4. Cervical Cancer
8.2.4.1. Cervical Cancer Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
8.2.5. Colorectal Cancer
8.2.5.1. Colorectal Cancer Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
8.2.6. Others
8.2.6.1. Others Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
8.3. Infectious Diseases
8.3.1. Infectious Diseases Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
8.4. Cardiovascular Disease
8.4.1. Cardiovascular Disease Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
8.5. Neurological Disorders
8.5.1. Neurological Disorders Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
8.6. Immunological Disorders
8.6.1. Immunological Disorders Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
8.7. Others
8.7.1. Others Market Analysis & Forecast, 2023-2034 (Revenue, USD Bn)
9. Regional Market Analysis
9.1. Regional Market Opportunity Analysis
10. North America Pharmacogenomics Technology Market
10.1. North America Pharmacogenomics Technology Market
10.1.1. North America Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
10.1.2. North America Pharmacogenomics Technology Market Size and Forecast, By Country, 2023-2034 (Revenue USD Bn)
10.1.3. North America Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
10.1.4. North America Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
10.2. U.S. Global Pharmacogenomics Technology Market
10.2.1. U.S. Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
10.2.2. U.S. Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
10.2.3. U.S. Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
10.3. Canada Global Pharmacogenomics Technology Market
10.3.1. Canada Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
10.3.2. Canada Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
10.3.3. Canada Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
11. Europe Global Pharmacogenomics Technology Market
11.1. Europe Global Pharmacogenomics Technology Market
11.1.1. Europe Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
11.1.2. Europe Pharmacogenomics Technology Market Size and Forecast, By Country, 2023-2034 (Revenue USD Bn)
11.1.3. Europe Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
11.1.4. Europe Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
11.2. Germany Global Pharmacogenomics Technology Market
11.2.1. Germany Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
11.2.2. Germany Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
11.2.3. Germany Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
11.3. UK Global Pharmacogenomics Technology Market
11.3.1. UK Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
11.3.2. UK Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
11.3.3. UK Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
11.4. France Global Pharmacogenomics Technology Market
11.4.1. France Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
11.4.2. France Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
11.4.3. France Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
11.5. Spain Global Pharmacogenomics Technology Market
11.5.1. Spain Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
11.5.2. Spain Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
11.5.3. Spain Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
11.6. Italy Global Pharmacogenomics Technology Market
11.6.1. Italy Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
11.6.2. Italy Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
11.6.3. Italy Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
11.7. Rest of Europe Global Pharmacogenomics Technology Market
11.7.1. Rest of Europe Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
11.7.2. Rest of Europe Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
11.7.3. Rest of Europe Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
12. Asia Pacific Global Pharmacogenomics Technology Market
12.1. Asia Pacific Global Pharmacogenomics Technology Market
12.1.1. Asia Pacific Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
12.1.2. Asia Pacific Pharmacogenomics Technology Market Size and Forecast, By Country, 2023-2034 (Revenue USD Bn)
12.1.3. Asia Pacific Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
12.1.4. Asia Pacific Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
12.2. Japan Global Pharmacogenomics Technology Market
12.2.1. Japan Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
12.2.2. Japan Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
12.2.3. Japan Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
12.3. China Global Pharmacogenomics Technology Market
12.3.1. China Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
12.3.2. China Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
12.3.3. China Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
12.4. India Global Pharmacogenomics Technology Market
12.4.1. India Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
12.4.2. India Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
12.4.3. India Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
12.5. South Korea Global Pharmacogenomics Technology Market
12.5.1. South Korea Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
12.5.2. South Korea Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
12.5.3. South Korea Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
12.6. Australia Global Pharmacogenomics Technology Market
12.6.1. Australia Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
12.6.2. Australia Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
12.6.3. Australia Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
12.7. Rest of Asia Pacific Global Pharmacogenomics Technology Market
12.7.1. Rest of Asia Pacific Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
12.7.2. Rest of Asia Pacific Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
12.7.3. Rest of Asia Pacific Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
13. Latin America Global Pharmacogenomics Technology Market
13.1. Latin America Global Pharmacogenomics Technology Market
13.1.1. Latin America Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
13.1.2. Latin America Pharmacogenomics Technology Market Size and Forecast, By Country, 2023-2034 (Revenue USD Bn)
13.1.3. Latin America Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
13.1.4. Latin America Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
13.2. Brazil Global Pharmacogenomics Technology Market
13.2.1. Brazil Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
13.2.2. Brazil Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
13.2.3. Brazil Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
13.3. Mexico Global Pharmacogenomics Technology Market
13.3.1. Mexico Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
13.3.2. Mexico Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
13.3.3. Mexico Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
13.4. Argentina Global Pharmacogenomics Technology Market
13.4.1. Argentina Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
13.4.2. Argentina Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
13.4.3. Argentina Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
13.5. Rest of Latin America Global Pharmacogenomics Technology Market
13.5.1. Rest of Latin America Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
13.5.2. Rest of Latin America Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
13.5.3. Rest of Latin America Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
14. MEA Global Pharmacogenomics Technology Market
14.1. MEA Global Pharmacogenomics Technology Market
14.1.1. MEA Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
14.1.2. MEA Pharmacogenomics Technology Market Size and Forecast, By Country, 2023-2034 (Revenue USD Bn)
14.1.3. MEA Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
14.1.4. MEA Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
14.2. GCC Global Pharmacogenomics Technology Market
14.2.1. GCC Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
14.2.2. GCC Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
14.2.3. GCC Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
14.3. South Africa Global Pharmacogenomics Technology Market
14.3.1. South Africa Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
14.3.2. South Africa Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
14.3.3. South Africa Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
14.4. Rest of MEA Global Pharmacogenomics Technology Market
14.4.1. Rest of MEA Pharmacogenomics Technology Market Size and Forecast, 2023-2034 (Revenue USD Bn)
14.4.2. Rest of MEA Pharmacogenomics Technology Market Size and Forecast, By Technology, 2023-2034 (Revenue USD Bn)
14.4.3. Rest of MEA Pharmacogenomics Technology Market Size and Forecast, By Application, 2023-2034 (Revenue USD Bn)
15. Competitor Analysis
15.1. Company Market Share Analysis, 2023
15.2. Major Recent Developments
16. Company Profiles
16.1. F. Hoffmann-La Roche Ltd
16.2. GE HealthCare
16.3. Leica Biosystems Nussloch GmBH
16.4. QIAGEN
16.5. Thermo Fisher Scientific Inc.
16.6. Pfizer Inc.
16.7. Agilent Technologies, Inc.
16.8. FOUNDATION MEDICINE, INC.
16.9. Other Prominent Players
17. Conclusion18. Recommendations

Companies Mentioned

  • F. Hoffmann-La Roche Ltd
  • GE HealthCare
  • Leica Biosystems Nussloch GmBH
  • QIAGEN
  • Thermo Fisher Scientific Inc.
  • Pfizer Inc.
  • Agilent Technologies Inc.
  • FOUNDATION MEDICINE Inc.