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Pharmacogenomics (PGx) Market

Pharmacogenomics (PGx) Market Size by Technology (Polymerase Chain Reaction (PCR), DNA Sequencing/Next Generation Sequencing (NGS), Nucleic Acid Amplification Tests (NAATs), Mass Spectrometry, Gel Electrophoresis, Hybridization, Microarray), Application (Pain Management, Oncology, Infectious Diseases, Neurology/Psychiatry, Cardiovascular), End-User, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-12517
  • Published Date: Aug, 2024
  • Pages: 237
  • Category: Healthcare
  • Format: PDF
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Global pharmacogenomics (PGx) market is expected to reach USD 20.71 billion by 2033, at a CAGR of 8.4% from 2024 to 2033. Global pharmacogenomics (PGx) market is witnessing a considerable growth owing to increasing incidences of chronic conditions. The pharmacogenomics (PGx) market has experienced significant popularity, leading to advancements in precision medicine. PGx aids in distinguishing between drug responders and non-responders, prevents adverse reactions, and determines the optimal therapeutic dosage. It is widely incorporated into various government initiatives, elevating its industry standing. The FDA mandates pharmacogenomic data labelling on medication packages for safety assurance and efficacy of approved drugs; hence, incorporating market-related information further reinforces growth prospects within the U.S. pharmaceutical sector.

Market Overview:

Pharmacogenomics (PGx), is the study of how people respond differently to drug therapy based upon their genetic makeup. The pharmacogenomics is part of the field of precision medicine, which aims to treat each patient individually. It uses genomic information to study individual responses to drugs and helps healthcare provider to choose the right drug for each individual patient. Tailoring a patient’s medication to their unique genetic characteristics can replace one-size-fits-all approach to dosing and drug selection that is commonly used today. The Food and Drug Administration (FDA) monitor drug safety in the United States. Currently, over 250 prescription medications contain pharmacogenetic information in their FDA approved labels. The label's information contains the identification of biomarkers – the primary measurable indicators associated with a patient’s specific condition, which helps to identify targeted drug therapy specific for that genetic variations as well as list the genetic abnormality which may influence how a drug is broken down or metabolized in the body. This information can help doctors tailor drug prescriptions for individual patients by providing guidance on possible side effects, dose, or differences in effectiveness for people with certain gene variants.

Drug companies are also using pharmacogenomics to develop and market personalized medicines for people with specific genetic profiles. By studying a drug only in people likely to benefit from it, drug companies might be able to speed up the drug’s development and maximize its therapeutic benefit. The field of pharmacogenomics is still in its infancy phase and its use is currently quite limited, but new approaches are under study in clinical trials. In the future, pharmacogenomics will allow the development of tailored drugs to treat a wide range of health problems, including cancer, cardiovascular disease, Alzheimer disease, HIV/AIDS, and asthma.

Pharmacogenomics (PGx) Market Size

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Market Dynamics:

Drivers
  • Increasing demand for personalized medicines

Personalized medicine has the potential to improve the healthcare through therapies tailored more specifically for the needs of the patients. It helps to reduce the side effects of the drugs, which is not suitable for every patient. Pharmacogenomics (PGx) has been widely recognized as one of the most key process for the development of personalized medicines. Thus, growing demand for personalized medicines across the globe, driving the growth of market during the forecast period.

  • Rising prevalence of chronic diseases

The burden of chronic diseases is rapidly increasing worldwide. These are the leading cause of death across the globe. For instance, WHO estimates that, by 2020, chronic diseases will account for almost three-quarters of all deaths worldwide, and that 71% of deaths due to ischaemic heart disease (IHD), 75% of deaths due to stroke, and 70% of deaths due to diabetes will occur in developing countries. Four of the most prominent chronic diseases – cardiovascular diseases (CVD), cancer, chronic obstructive pulmonary disease and type 2 diabetes. Pharmacogenomics is widely used in different chronic indications such as cancer for the treatment, diagnosis or prevention, infectious diseases, cardiovascular diseases and others. Growing geriatric population across the globe is leading to increasing incidences of chronic diseases and increasing demand for healthcare system enhancing the demand for developed treatments. Thus, rising prevalence of chronic diseases across the globe, booting the growth of market.

Restraints:
  • Ethical issues

There are many ethical issues restraining the growth of market, mainly because pharmacogenomics offers  designer drugs suitable for individual patient, which is expensive, causing many poorer and disadvantaged people and countries unable to get the top level of care. This is likely to result into increasing the disparity between the affluent and poor. The other major ethical issue is the usage of genetically modified animals to create the human drugs, raising the issue of inhumane treatment of the animals. Thus, various ethical issues is anticipated to hamper the market growth over the forecast period.

Opportunities:
  • Increasing research and development activities for the development of new therapies 

Increasing research and development activities in pharmacogenomics sector is anticipated to offer future growth opportunities in the market. This sector is still in the infancy stage and thus, various research studies are going on such as next-generation sequencing, real time PCR, microarray, and others in the pharmacogenomics field.

Challenges:
  • Lack of skilled personnel could hamper the market growth

Educating healthcare professionals about every drug is one of key challenge in the pharmacogenomics market. The problem with pharmacogenomics is that there will be 100’s if not 1000’s of very similar drugs on the market with only slight alterations depending on every patient’s genetic code. This will greatly complicate the process of handing out and choosing prescriptions, which may hamper the growth of market.

Segmentation Analysis:

The global pharmacogenomics (PGx) market has been segmented based on technology, application, end-user and regions.

  • The technology segment includes polymerase chain reaction (PCR), DNA sequencing/next generation sequencing (NGS), nucleic acid amplification tests (NAATs), mass spectrometry, gel electrophoresis, hybridization, microarray, and others. The polymerase chain reaction (PCR) segment accounted for the major market share of 43% in 2023. PCR is one of the widely used technology in the pharmacogenomics and it represents an innovative method for the development of personalized, safer and cost-effective therapy. PCR offers unique benefits such as greater sensitivity, reproducibility and precision, ease of quantification, rapid analysis, better control of quality in the process and a lower risk of contamination.
  • The application segment includes pain management, oncology, infectious diseases, neurology/psychiatry, cardiovascular, and others.  The oncology segment held the largest market share of 37.1% in 2023 and it is anticipated to maintain its position throughout the forecast period. This is mainly due to increasing the prevalence of cancer across the globe. Pharmacogenomics have already been applied to predict cancer susceptibility, tumor progression and recurrence, patient survival, and response to and toxicity associated with traditional chemotherapy treatments. However, infectious disease segment is expected to grow at the highest CAGR of 9.6% over the forecast period. The therapeutic management of infectious diseases has been challenged by the soaring phenomenon of antibiotic resistance, the high rate of which is mainly due to improper prescription and use of antimicrobials. Personalized medicine for infectious diseases is an emerging concept, which is boosting the growth of this segment over the forecast period.
  • The end-user segment is divided into research organization, hospitals, diagnostic centers, academic institutes, and others. The hospital segment held the major market share of 36.2% in 2023. Many hospitals have rolled out the pharmacogenomics programs in the hospitals for the treatment such as oncology and neurology/psychiatry among others. Pharmacogenomics (PGx) testing is gaining recognition from physicians, patients, and pharmacists as a tool for evidence-based medication management. Currently, fewer than 20% of U.S. hospitals use pharmacogenomics testing, but the American Society for Health-System Pharmacists (ASHP) Foundation predicts that most U.S. regions will have a formal hospital pharmacogenomics program within the next 5 years.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. The North America region emerged as the largest market for the pharmacogenomics (PGx) market with a 41.7% share of the market revenue in 2023.

North America Pharmacogenomics (PGx) Market Share in 2023- 41.7%

 

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  • This is because North America is growing tremendously in terms of the healthcare industry. North America region has become the hub for the technological development and transformation of the industry. Due to the presence of several technological and pharmaceutical players in countries like Canada and the U.S., North America is projected to dominate the global pharmacogenomics (PGx) market on geographical front. In addition to this, many hospitals have been using pharmacogenomics in the clinical practice, from past few years, further boosting the growth of market in the region.
  • The Asia Pacific region is one of the prominent region in the global pharmacogenomics market, owing to growing awareness among the physicians and drug developers in the region.  China and Taiwan, India, Japan and South Korea are some of the prominent countries in the growth of pharmacogenomics market in Asia Pacific region. In addition to this, rising research and development activities and increasing funds from the government for the development of innovative therapies in the healthcare field, further fuelling the growth of market in region.
Competitive Analysis:

Developing and developed countries are offering greater opportunities and major players are continuously focused on new developments, strategic partnerships, acquisitions and venture capital investments to obtain high growth in the market.

In November 2019, Agena Bioscience, LLC, announced the release of the VeriDose CYP2D6 CNV panel designed to provide PGx testing programs with a more accurate and efficient way to analyze CYP2D6 copy number.

In January 2020, Illumina, Inc. announced 15 years partnership with the Roche, drug and diagnostics maker company, to increase availability of genomic testing to patients with cancers and to broaden adoption of distributable next-generation sequencing-based testing in oncology.

List of Key Market Players:
  • Abbott Laboratories
  • AstraZeneca PLC
  • Admera Health, LLC
  • Agena Biosciences, Inc.
  • Biomerieux
  • Bayer AG
  • Cancer Genetics, Inc.
  • Dynamic DNA Laboratories
  • F. Hoffmann-La Roche Ltd
  • geneOmbio Technologies Pvt Ltd.
  • Qiagen
  • Genomic Health, Inc.
  • Illumina, Inc.
  • Laboratory Corporation of America Holdings
  • Bio-Rad Laboratories Inc.
Key Target Audience
  • Healthcare Institute
  • Drug Manufacture
  • Pharmaceutical Companies
  • Government Authorities and R&D Institutions
  • World Health Organization
  • Food and Drug Administration
  • Consulting And Research Firm

Report Description:

  • The base year for the study has been considered 2023, historic year 2020, 2021 and 2022 and, the forecast period considered is from 2024 to 2033. The global pharmacogenomics (PGx) market is analyzed on the basis of value (USD billion).
  • The study delivers a comprehensive analysis of global pharmacogenomics (PGx) market by technology, application, end-user and regions. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2024 to 2033.
  • Porter’s Five Forces model is used in order to recognize the competitive scenario in the global Pharmacogenomics (PGx) market. This report incorporates the industry analysis which is focused on providing an extensive view of the pharmacogenomics (PGx) market.
  • The study also includes attractiveness analysis of technology, application, end-user and regions which are bench-marked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
  • The report provides company profile of the key players operating in the pharmacogenomics (PGx) market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
  • The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases. 

Frequesntly Asked Questions

As per The Brainy Insights, the size of the pharmacogenomics (PGx) market was valued at USD 9.25 billion in 2023 and is anticipated to reach USD 20.71 billion by 2033.

Global pharmacogenomics (PGx) market is growing at a CAGR of 8.4% during the forecast period 2024-2033.

The North America region emerged as the largest market for the pharmacogenomics (PGx).

Increasing demand for personalized medicines is the key driving factor for the pharmacogenomics (PGx) market. Rising prevalence of chronic diseases driving the demand for pharmacogenomics (PGx) market.

Ethical issues may hamper the market growth.

Increasing research and development activities for the development of new therapies will provide huge opportunities to the market.

Key players are Abbott Laboratories, AstraZeneca PLC, Admera Health, LLC, Agena Biosciences, Inc., Biomerieux, Bayer AG

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1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Technology
          4.3.2. Market Attractiveness Analysis By Application
          4.3.3. Market Attractiveness Analysis By End User
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increasing demand for personalized medicines
          5.2.2. Rising prevalence of chronic diseases
    5.3. Restrains
          5.3.1. Ethical issues
    5.4. Opportunities
          5.4.1. Increasing research and development activities for the development of new therapies
    5.5. Challenges
          5.5.1. Lack of skilled personnel could hamper the market growth

6. Global Pharmacogenomics (PGx) Market Analysis and Forecast, By Technology
    6.1. Segment Overview
    6.2. Polymerase Chain Reaction (PCR)
    6.3. DNA Sequencing/Next Generation Sequencing (NGS)
    6.4. Nucleic Acid Amplification Tests (NAATs)
    6.5. Mass Spectrometry
    6.6. Gel Electrophoresis
    6.7. Hybridization
    6.8. Microarray
    6.9. Others

7. Global Pharmacogenomics (PGx) Market Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. Pain Management
    7.3. Oncology
    7.4. Infectious Diseases
    7.5. Neurology/Psychiatry
    7.6. Cardiovascular
    7.7. Others

8. Global Pharmacogenomics (PGx) Market Analysis and Forecast, By End User
    8.1. Segment Overview
    8.2. Research Organization
    8.3. Hospitals
    8.4. Diagnostic Centers
    8.5. Academic Institutes
    8.6. Others

9. Global Pharmacogenomics (PGx) Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Pharmacogenomics (PGx) Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Pharmacogenomics (PGx) Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Abbott Laboratories
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. AstraZeneca PLC
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Admera Health, LLC
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Agena Biosciences, Inc.
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Biomerieux
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Bayer AG
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Cancer Genetics, Inc.
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Dynamic DNA Laboratories
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. F. Hoffmann-La Roche Ltd
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. geneOmbio Technologies Pvt Ltd.
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
    11.11. Qiagen
          11.11.1. Business Overview
          11.11.2. Company Snapshot
          11.11.3. Company Market Share Analysis
          11.11.4. Company Product Portfolio
          11.11.5. Recent Developments
          11.11.6. SWOT Analysis
    11.12. Genomic Health, Inc.
          11.12.1. Business Overview
          11.12.2. Company Snapshot
          11.12.3. Company Market Share Analysis
          11.12.4. Company Product Portfolio
          11.12.5. Recent Developments
          11.12.6. SWOT Analysis
    11.13. Illumina, Inc.
          11.13.1. Business Overview
          11.13.2. Company Snapshot
          11.13.3. Company Market Share Analysis
          11.13.4. Company Product Portfolio
          11.13.5. Recent Developments
          11.13.6. SWOT Analysis
    11.14. Laboratory Corporation of America Holdings
          11.14.1. Business Overview
          11.14.2. Company Snapshot
          11.14.3. Company Market Share Analysis
          11.14.4. Company Product Portfolio
          11.14.5. Recent Developments
          11.14.6. SWOT Analysis
    11.15. Bio-Rad Laboratories Inc.
          11.15.1. Business Overview
          11.15.2. Company Snapshot
          11.15.3. Company Market Share Analysis
          11.15.4. Company Product Portfolio
          11.15.5. Recent Developments
          11.15.6. SWOT Analysis

List of Table

1. Global Pharmacogenomics (PGx) Market, By Technology, 2020–2033 (USD Billion)

2. Global Polymerase Chain Reaction (PCR) Pharmacogenomics (PGx) Market, By Region, 2020–2033 (USD Billion)

3. Global DNA Sequencing/Next Generation Sequencing (NGS) Pharmacogenomics (PGx) Market, By Region, 2020–2033 (USD Billion)

4. Global Nucleic Acid Amplification Tests (NAATs) Pharmacogenomics (PGx) Market, By Region, 2020–2033 (USD Billion)

5. Global Mass Spectrometry Pharmacogenomics (PGx) Market, By Region, 2020–2033 (USD Billion)

6. Global Gel Electrophoresis Pharmacogenomics (PGx) Market, By Region, 2020–2033 (USD Billion)

7. Global Hybridization Pharmacogenomics (PGx) Market, By Region, 2020–2033 (USD Billion)

8. Global Microarray Pharmacogenomics (PGx) Market, By Region, 2020–2033 (USD Billion)

9. Global Others Pharmacogenomics (PGx) Market, By Region, 2020–2033 (USD Billion)

10. Global Pharmacogenomics (PGx) Market, By Application, 2020–2033 (USD Billion)

11. Global Pain Management Pharmacogenomics (PGx) Market, By Region, 2020–2033 (USD Billion)

12. Global Oncology Pharmacogenomics (PGx) Market, By Region, 2020–2033 (USD Billion)

13. Global Infectious Diseases Pharmacogenomics (PGx) Market, By Region, 2020–2033 (USD Billion)

14. Global Neurology/Psychiatry Pharmacogenomics (PGx) Market, By Region, 2020–2033 (USD Billion)

15. Global Cardiovascular Pharmacogenomics (PGx) Market, By Region, 2020–2033 (USD Billion)

16. Global Others Pharmacogenomics (PGx) Market, By Region, 2020–2033 (USD Billion)

17. Global Pharmacogenomics (PGx) Market, By End User, 2020–2033 (USD Billion)

18. Global Research Organization Pharmacogenomics (PGx) Market, By Region, 2020–2033 (USD Billion)

19. Global Hospitals Pharmacogenomics (PGx) Market, By Region, 2020–2033 (USD Billion)

20. Global Diagnostic Centers Pharmacogenomics (PGx) Market, By Region, 2020–2033 (USD Billion)

21. Global Academic Institutes Pharmacogenomics (PGx) Market, By Region, 2020–2033 (USD Billion)

22. Global Others Pharmacogenomics (PGx) Market, By Region, 2020–2033 (USD Billion)

23. Global Pharmacogenomics (PGx) Market, By Region, 2020–2033 (USD Billion) 

24. Global Pharmacogenomics (PGx) Market, By North America, 2020–2033 (USD Billion)

25. North America Pharmacogenomics (PGx) Market, By Technology, 2020–2033 (USD Billion)

26. North America Pharmacogenomics (PGx) Market, By Application, 2020–2033 (USD Billion)

27. North America Pharmacogenomics (PGx) Market, By End User, 2020–2033 (USD Billion)

28. U.S. Pharmacogenomics (PGx) Market, By Technology, 2020–2033 (USD Billion)

29. U.S. Pharmacogenomics (PGx) Market, By Application, 2020–2033 (USD Billion)

30. U.S. Pharmacogenomics (PGx) Market, By End User, 2020–2033 (USD Billion)

31. Canada Pharmacogenomics (PGx) Market, By Technology, 2020–2033 (USD Billion)

32. Canada Pharmacogenomics (PGx) Market, By Application, 2020–2033 (USD Billion)

33. Canada Pharmacogenomics (PGx) Market, By End User, 2020–2033 (USD Billion)

34. Mexico Pharmacogenomics (PGx) Market, By Technology, 2020–2033 (USD Billion)

35. Mexico Pharmacogenomics (PGx) Market, By Application, 2020–2033 (USD Billion)

36. Mexico Pharmacogenomics (PGx) Market, By End User, 2020–2033 (USD Billion)

37. Europe Pharmacogenomics (PGx) Market, By Technology, 2020–2033 (USD Billion)

38. Europe Pharmacogenomics (PGx) Market, By Application, 2020–2033 (USD Billion)

39. Europe Pharmacogenomics (PGx) Market, By End User, 2020–2033 (USD Billion)

40. Germany Pharmacogenomics (PGx) Market, By Technology, 2020–2033 (USD Billion)

41. Germany Pharmacogenomics (PGx) Market, By Application, 2020–2033 (USD Billion)

42. Germany Pharmacogenomics (PGx) Market, By End User, 2020–2033 (USD Billion)

43. France Pharmacogenomics (PGx) Market, By Technology, 2020–2033 (USD Billion)

44. France Pharmacogenomics (PGx) Market, By Application, 2020–2033 (USD Billion)

45. France Pharmacogenomics (PGx) Market, By End User, 2020–2033 (USD Billion)

46. U.K. Pharmacogenomics (PGx) Market, By Technology, 2020–2033 (USD Billion)

47. U.K. Pharmacogenomics (PGx) Market, By Application, 2020–2033 (USD Billion)

48. U.K. Pharmacogenomics (PGx) Market, By End User, 2020–2033 (USD Billion)

49. Italy Pharmacogenomics (PGx) Market, By Technology, 2020–2033 (USD Billion)

50. Italy Pharmacogenomics (PGx) Market, By Application, 2020–2033 (USD Billion)

51. Italy Pharmacogenomics (PGx) Market, By End User, 2020–2033 (USD Billion)

52. Spain Pharmacogenomics (PGx) Market, By Technology, 2020–2033 (USD Billion)

53. Spain Pharmacogenomics (PGx) Market, By Application, 2020–2033 (USD Billion)

54. Spain Pharmacogenomics (PGx) Market, By End User, 2020–2033 (USD Billion)

55. Asia Pacific Pharmacogenomics (PGx) Market, By Technology, 2020–2033 (USD Billion)

56. Asia Pacific Pharmacogenomics (PGx) Market, By Application, 2020–2033 (USD Billion)

57. Asia Pacific Pharmacogenomics (PGx) Market, By End User, 2020–2033 (USD Billion)

58. Japan Pharmacogenomics (PGx) Market, By Technology, 2020–2033 (USD Billion)

59. Japan Pharmacogenomics (PGx) Market, By Application, 2020–2033 (USD Billion)

60. Japan Pharmacogenomics (PGx) Market, By End User, 2020–2033 (USD Billion)

61. China Pharmacogenomics (PGx) Market, By Technology, 2020–2033 (USD Billion)

62. China Pharmacogenomics (PGx) Market, By Application, 2020–2033 (USD Billion)

63. China Pharmacogenomics (PGx) Market, By End User, 2020–2033 (USD Billion)

64. India Pharmacogenomics (PGx) Market, By Technology, 2020–2033 (USD Billion)

65. India Pharmacogenomics (PGx) Market, By Application, 2020–2033 (USD Billion)

66. India Pharmacogenomics (PGx) Market, By End User, 2020–2033 (USD Billion)

67. South America Pharmacogenomics (PGx) Market, By Technology, 2020–2033 (USD Billion)

68. South America Pharmacogenomics (PGx) Market, By Application, 2020–2033 (USD Billion)

69. South America Pharmacogenomics (PGx) Market, By End User, 2020–2033 (USD Billion)

70. Brazil Pharmacogenomics (PGx) Market, By Technology, 2020–2033 (USD Billion)

71. Brazil Pharmacogenomics (PGx) Market, By Application, 2020–2033 (USD Billion)

72. Brazil Pharmacogenomics (PGx) Market, By End User, 2020–2033 (USD Billion)

73. Middle East and Africa Pharmacogenomics (PGx) Market, By Technology, 2020–2033 (USD Billion)

74. Middle East and Africa Pharmacogenomics (PGx) Market, By Application, 2020–2033 (USD Billion)

75. Middle East and Africa Pharmacogenomics (PGx) Market, By End User, 2020–2033 (USD Billion)

76. UAE Pharmacogenomics (PGx) Market, By Technology, 2020–2033 (USD Billion)

77. UAE Pharmacogenomics (PGx) Market, By Application, 2020–2033 (USD Billion)

78. UAE Pharmacogenomics (PGx) Market, By End User, 2020–2033 (USD Billion)

79. South Africa Pharmacogenomics (PGx) Market, By Technology, 2020–2033 (USD Billion)

80. South Africa Pharmacogenomics (PGx) Market, By Application, 2020–2033 (USD Billion)

81. South Africa Pharmacogenomics (PGx) Market, By End User, 2020–2033 (USD Billion)

List of Figures 

1. Global Pharmacogenomics (PGx) Market Segmentation

2. Pharmacogenomics (PGx) Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Pharmacogenomics (PGx) Market Attractiveness Analysis By Technology

9. Global Pharmacogenomics (PGx) Market Attractiveness Analysis By Application

10. Global Pharmacogenomics (PGx) Market Attractiveness Analysis By End User

11. Global Pharmacogenomics (PGx) Market Attractiveness Analysis By Region

12. Global Pharmacogenomics (PGx) Market: Dynamics

13. Global Pharmacogenomics (PGx) Market Share By Technology (2023 & 2033)

14. Global Pharmacogenomics (PGx) Market Share By Application (2023 & 2033)

15. Global Pharmacogenomics (PGx) Market Share By End User (2023 & 2033)

16. Global Pharmacogenomics (PGx) Market Share by Regions (2023 & 2033)

17. Global Pharmacogenomics (PGx) Market Share by Company (2023)

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global pharmacogenomics (PGx) market on the basis of below mentioned segments:

Global Pharmacogenomics (PGx) Market by Technology:

  • Polymerase Chain Reaction (PCR)
  • DNA Sequencing/Next Generation Sequencing (NGS)
  • Nucleic Acid Amplification Tests (NAATs)
  • Mass Spectrometry
  • Gel Electrophoresis
  • Hybridization
  • Microarray
  • Others

Global Pharmacogenomics (PGx) Market by Application:

  • Pain Management
  • Oncology
  • Infectious Diseases
  • Neurology/Psychiatry
  • Cardiovascular
  • Others

Global Pharmacogenomics (PGx) Market by End User:

  • Research Organization
  • Hospitals
  • Diagnostic Centers
  • Academic Institutes
  • Others

Global Pharmacogenomics (PGx) Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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