Discover trends, market shifts, and competitive outlooks for the pharmacogenomics industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research

How Fast Is The Pharmacogenomics Market Expected to Grow Between 2025 And 2029?

In the previous years, the size of the pharmacogenomics market has witnessed rapid expansion. It is projected that from its 2024 estimate of $8.94 billion, it will surge to $9.92 billion in 2025, with a compound annual growth rate (CAGR) of 10.9%. Factors such as pronounced economic development in burgeoning markets, a heightened emphasis on bespoke medicine, surging superior healthcare infrastructures, and amplified healthcare spending have contributed to this historic period growth.

Rapid expansion is anticipated in the pharmacogenomics market in the coming years, with projections putting it at $14.81 billion in 2029 and a compound annual growth rate (CAGR) of 10.5%. Factors fueling this growth during the forecasted period includes an uptick in the aging population, the surge of chronic diseases, a rising global population, and a growing demand for cancer treatments. Noteworthy trends during this period include the introduction of genome editing solutions for deeper scrutiny of advanced therapies, an increased concentration on integrating artificial intelligence in genomics for genetic data analysis, further advancements in metagenomics, strategic collaboration and partnerships among market participants, the incorporation of three-dimensional (3D) genomics to assess the effects on gene expression and functionality, the innovation of new products focused on infectious diseases and gene editing, and the creation of psychotropic pharmacogenomics tests for more informed decision-making.

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Which Major Market Drivers Are Expected to Boost the Growth Potential of the Pharmacogenomics Market?

The pharmacogenomics market is experiencing boosted demand due to the growing interest in precision medicine. This healthcare paradigm emphasizes personalized care, advocating medical procedures, treatments, or products designed for specific patient subsets, as opposed to a one-size-fits-all approach. The appeal of precision medicine is primarily seen in oncology but its impressive applications extend to other areas like late-stage, rare, and genetic diseases. Precision medicine’s goal is to consider genetic and environmental information relevant to specific diseases and their treatment responses. For instance, an article on Linchpinseo in March 2022 pointed out that major pharmaceutical companies’ investments in precision medicine would witness a one-third surge in five years. Furthermore, precision medicine is revolutionizing the treatment approach for the 30 million people diagnosed with type 2 diabetes in the US by offering personalized treatment strategies. Thus, the burgeoning demand for precision medicine is set to stimulate the pharmacogenomics market.

Which Key Market Segments Comprise the Pharmacogenomics Market and Drive Its Revenue Growth?

The pharmacogenomics market covered in this report is segmented –

1) By Technology: Next Generation Sequencing, Polymerase Chain Reaction, Gel Electrophoresis, Mass Spectrometry, Microarray, Other Technologies

2) By Application: Neurological Diseases, Infectious Diseases, Oncology, Cardiovascular Diseases, Pain Management, Other Applications

3) By End User: Hospitals and Clinics, Research Institutions, Academic Institutes, Other End Users

Subsegments:

1) By Next Generation Sequencing (NGS): Whole Genome Sequencing, Targeted Sequencing, Exome Sequencing

2) By Polymerase Chain Reaction (PCR): Quantitative PCR (qPCR), Reverse Transcription PCR (RT-PCR), Digital PCR

3) By Gel Electrophoresis: Agarose Gel Electrophoresis, Polyacrylamide Gel Electrophoresis, Capillary Gel Electrophoresis

4) By Mass Spectrometry: LC-MS/MS (Liquid Chromatography-Tandem Mass Spectrometry), MALDI-TOF MS (Matrix-Assisted Laser Desorption/Ionization Time of Flight), HRMS (High-Resolution Mass Spectrometry)

5) By Microarray: SNP Microarrays, Expression Microarrays, Comparative Genomic Hybridization (CGH) Arrays

6) By Other Technologies: Sanger Sequencing, CRISPR-Based Technologies, Bioinformatics Tools

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Which Areas Are Leading Regions in the Pharmacogenomics Market Expansion Across the Globe?

North America was the largest region in the pharmacogenomics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pharmacogenomics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Are the Key Market Trends in thePharmacogenomics Market Over the Coming Years?

A crucial trend gaining traction in the pharmacogenomics market is technological innovation. Drug manufacturers are honing multiple strategies for pharmacogenomics examination to offer cost-efficient solutions for screening recognized polymorphisms and uncovering new variants. For instance, in May 2022, Invitae, a medical laboratory company based in the US, introduced its extended Pharmacogenomics Panel. This expanded Invitae Pharmacogenomics (PGx) Panel, which encompasses the Mental Health Panel, affords an understanding of the genetic reactions to medicines across numerous specializations like general practice, cardiology, and oncology. PGx testing is predicted to become a standard procedure since approximately 25% of patients experience abnormal drug reactions due to genetics. A successful incorporation into healthcare necessitates heightened assistance for providers to grasp and incorporate PGx testing into their medical environments.

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How Is the Pharmacogenomics Market Conceptually Defined?

Pharmacogenomics is a field of research that studies how a patient’s genes affect and how they respond to medications. The long-term aim of pharmacogenomics is to help doctors select the drugs and doses best suited for each person. Pharmacogenomics is used to create customized drugs to treat a variety of health issues, including cardiovascular disease, Alzheimer’s disease, cancer, and asthma. The pharmacogenomics marker refers to precise medical treatment for each person or a group of people.

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