The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

North America held the largest pharmacogenomics market share in 2022.

The global pharmacogenomics market size will grow from $7.26 billion in 2022 to $7.97 billion in 2023 at a compound annual growth rate (CAGR) of 9.8%. The pharmacogenomics market size is expected to grow to $11.67 billion in 2027 at a CAGR of 10.0%.

Major Driver In The Pharmacogenomics Market ­– Rise In Demand For Precision Medicine
According to an article published on Linchpinseo in March 2022, the increasing demand for precision medicine investment from prominent pharmaceutical corporations will climb by one-third over the next five years. Furthermore, 30 million people in the United States have type 2 diabetes, and precision medicine delivers tailored care and will re-calibrate present treatment procedures. As a result, the growing demand for precision treatment will propel the pharmacogenomics industry.

View More On The Pharmacogenomics Market Report 2023 – https://www.thebusinessresearchcompany.com/report/pharmacogenomics-global-market-report

Key Pharmacogenomics Market Segments
1) By Technology: Next Generation Sequencing, Polymerase Chain Reaction, Gel Electrophoresis, Mass Spectrometry, Microarray, Other Technologies
2) By Distribution Channel: Hospital Pharmacy, Online Pharmacy, Retail Pharmacy
3) By Applications: Neurology, Drug Discovery, Oncology, Cardiology, Pain Management, Other Applications
4) By End User: Hospitals And Clinics, Research Institutions, Academic Institutes

Recent Pharmacogenomics Market Trend – Technological Advancement
Pharmaceutical companies are focused on several ways to pharmacogenomics analysis in order to provide cost-effective solutions for screening known polymorphisms and discovering novel variants. For example, in May 2021, Integrated Prescription Management (IPM), a pharmacy benefits management (PBM) firm based in the United States, and Myriad Genetics Inc., a genetic testing and precision medicine company, together introduced the GeneSight® test, a pharmacogenomics test for patients suffering from depression or anxiety.

Pharmacogenomics Market Prominent Players
Major players in the pharmacogenomics market are Abbott Laboratories, AstraZeneca plc, Becton Dickinson and Company, Bayer AG, F Hoffmann-La Roche AG, Illumina Inc., GlaxoSmithKline plc, Merck KGaA, Myriad Genetics Inc., Thermo Fisher Scientific Inc., OPKO Health Inc., Assurex Health Inc., Empire Genomics LLC, Future Science Group and Pathway Genomics Corporation.

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The Pharmacogenomics Global Market Report 2023 provides a comprehensive overview on the pharmacogenomics market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the pharmacogenomics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Pharmacogenomics is an area of study that investigates how a patient’s genes affect and respond to drugs. Pharmacogenomics’ long-term goal is to assist clinicians in selecting the medications and doses that are best suited for each individual. Pharmacogenomics is used to develop personalized medications to treat a wide range of medical conditions, including cardiovascular disease, Alzheimer’s disease, cancer, and asthma. The pharmacogenomics marker refers to personalized medical therapy for each individual or group of individuals.

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