Pharmacogenomics Market Trends 2025-2034: Growth, Strategic Insights, and Opportunities Ahead
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Factors Are Propelling the Market Growth of thePharmacogenomics Market from 2025 to 2034?
The escalating need for precision medicine is a driving factor for the growth of the pharmacogenomics market. Precision medicine involves personalized healthcare, where medical decisions, treatments, procedures, and products are made to fit certain patient groups rather than a generic one-drug-for-all approach. The increased need for precision medicine is evident since it is highly developed in the field of oncology and has wider, promising opportunities beyond oncology and late-stage diseases like rare and genetic disorders. The primary goal of precision medicine is to incorporate genetic and environmental details about specific illnesses and/or their reactions to certain treatments. For instance, an article on Linchpinseo in March 2022 reported that the growing demand for investments in precision medicine from major pharmaceutical companies is expected to see a rise of 1/3 over the next five years. Moreover, in the USA, precision medicine offers personalized treatments for the 30 million people diagnosed and treated for type 2 diabetes and aims to revolutionize current treatment approaches. As such, the pharmacogenomics market is set to grow due to the escalating demand for precision medicine.
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#What Are the Key Projections for the CAGR of the Pharmacogenomics Market From 2025 to 2034?
The size of the pharmacogenomics market has experienced quick expansion in the past few years. It is projected to expand from $8.94 billion in 2024 to $9.92 billion in 2025, indicating a compound annual growth rate (CAGR) of 10.9%. The notable growth during the historical period can be linked to robust economic development in emergent markets, a heightened focus on personalized medicine, improvement in advanced healthcare facilities, and a rise in healthcare spending.
The size of the pharmacogenomics market is predicted to experience considerable growth in the impending years, reaching a value of $14.81 billion by 2029, boasting a compound annual growth rate (CAGR) of 10.5%. Factors contributing to this growth within the forecasted period include an incline in the aging populace, rising rates of chronic diseases, population growth, and a higher demand for cancer treatments. Key trends expected within the forecast period include the development of genome editing solutions for in-depth analysis of advanced therapies, the employment of artificial intelligence (AI) in genomics for genetic data analysis, improvements in metagenomics, strategic alliances and collaborations within market players, the advent of three-dimensional (3D) genomics to research influences on gene expression and functionality, the introduction of innovative products centered around infectious diseases and gene editing, and the creation of psychotropic pharmacogenomics tests for informed decisions.
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How Are Market Trends and Innovations Revolutionizing thePharmacogenomics Industry in Recent Times?
The rise in technological progress is a notable trend that is gaining traction in the pharmacogenomics market. Companies manufacturing medications are concentrating on a variety of methods for pharmacogenomics study, aiming to offer cost-effective options for screening familiar polymorphisms and discovering new variations. For example, in May 2022, Invitae, a medical laboratory firm based in the USA, introduced its more extensive Pharmacogenomics Panel. The Invitae Pharmacogenomics (PGx) Panel, which includes the Mental Health Panel, offers knowledge into genetic responses to drugs in numerous areas such as primary care, cardiology, and oncology. PGx testing is set to become a norm as nearly 25% of patients experience unconventional drug responses due to their genetics. For a successful integration into healthcare, there is an urgent need for improved provider support to comprehend and implement PGx testing in various clinical situations.
Which Key Market Players Are Shaping the Future and Growth of thePharmacogenomics Market?
Major companies operating in the pharmacogenomics market include Illumina Inc, Eurofins Scientific, Myriad Genetics Inc, PerkinElmer Inc, Centogene N.V, Invitae Corporation, Genomind, Pacific Biosciences of California Inc, Oneome LLC, Admera Health, MapMyGenome, Positive Bioscience, Xcode Life Sciences, Xcelris Labs, Takeda Pharmaceutical Company Limited, Garvan Institute of Medical Research, 3D Medicines Inc, Berry Genomics, BGI, GenomiCare Biotechnology, Bayer AG, GlaxoSmithKline plc (GSK), F Hoffmann-La Roche AG, Merck KGaA, QIAGEN N.V, Centro de Genoma e Biologia de Sistemas (CGBS), Dasa Group, Datar Cancer Genetics Limited, MedGenome Labs, 23andMe, Color Genomics, Pathway Genomics, Laboratório Richet, Laboratório Exame, Genomika Diagnósticos
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What Are the Core Segments of the Pharmacogenomics Market, and How Do They Contribute to 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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What Regions Are Dominating the Pharmacogenomics Market Growth?
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.
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