PCR Segment to Hold Largest Share of Pharmacogenomics Market During 2021-2028

According to our latest study on "Pharmacogenomics Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Technology, Application, and End User," the market is projected to reach US$ 14,107.80 million by 2028 from US$ 7,087.81 million in 2021 and is expected to grow at a CAGR of 10.3% from 2021 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the market.

During the past few years, there has been an unprecedented surge in demand of pharmacogenomics technologies for developing personalized therapies due to the rising prevalence of various chronic disorders, such as cancer, cardiovascular disorders, and neurological disorders. Also, the incidence of treatment-related adverse events are growing, which results in the rising adopting rates of pharmacogemics in drug discovery sector . According to the World Health Organization, the number of annual cancer cases reached 2 million in 2021 and is expected to cross 3 million by the end of this decade. Moreover, there is an increasing demand for pharmacogenomic technologies to explore the potential of investigational and available drugs. Moreover, PCR is also emerging as leading pharmacogenomic technology for developing novel therapies and it is currently playing severl roles in gene cloning and manipulation, DNA cloning, gene mutagenesis, functional analysis of gene, detection of pathogens, and drug resistence assay. In addition, the investments in pharmacogenomic technologies are increasing rapidly in North American and European countries, providing favorable conditions to this sector. All these mentioned factors fuel the growth of the pharmacogenomics market.

Based on application, the pharmacogenomics market is segmented into drug discovery, oncology, neurology and psychiatry, pain management, cardiovascular diseases, and others. In 2021, the oncology segment held the largest share of the market, whereas the drug discovery segment is expected to register the highest CAGR in the market during 2021-2028.

F. Hoffmann-la Roche Ltd; Abbott; Oxford Nanopore Technologies; Thermo Fisher Scientific Inc; Illumina, Inc; QIAGEN; Agilent Technologies, Inc; Myriad Genetics, Inc; Admera Health; and Dynamic DNA Laboratories are a few companies operating in the pharmacogenomic market.

Report Segments Pharmacogenomics Market as Follows:

The pharmacogenomics market is segmented on the basis of technology, application, and end user. Based on technology, the market is segmented into PCR, sequencing, microarray, gel electrophoresis, mass spectrometry, and others. The market for the PCR segment is subsegmented into real time PCR, standard PCR, and digital PCR. Based on application, the pharmacogenomics market is segmented into drug discovery, oncology, neurology and psychiatry, pain management, cardiovascular diseases, and others. Based on end user, the market is segmented into hospitals and clinics, biopharmaceutical companies, CROss and CDMOs, and others. By geography, the pharmacogenomics market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, Italy, the UK, Spain, and the Rest of Europe), Asia Pacific (Australia, China, India, Japan, South Korea, and the Rest of APAC), Middle East & Africa (Saudi Arabia, South Africa, the UAE, and the Rest of MEA), and South and Central America (Brazil, Argentina, and the Rest of SCAM).

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