Pharmacogenomics Market Growth Analysis 2027 by Emergen Research

The global Pharmacogenomics Market is expected to reach USD 11.97 Billion by 2027, according to a new report by Emergen Research. The global pharmacogenomics (PGx) market is growing at a substantial pace owing to the growing demand for personalized therapy, increasing prevalence of target chronic diseases, technological advancements, favorable government initiatives, availability of financial support for research and development.

The leading players in the market include Abbott Laboratories, Admera Health, LLC, Agena Biosciences, Inc., Cancer Genetics, Inc., Dynamic DNA Laboratories, F. Hoffmann-La Roche Ltd, geneOmbio Technologies Pvt Ltd., Genomic Health, Inc., Illumina, Inc., and Laboratory Corporation of America Holdings, among others.

Get your FREE Sample Copy with TOC of the Report to understand the structure of the complete report@ https://www.emergenresearch.com/request-sample-form/88

Pharmacogenomics has high demand; therefore, research centers invest a handful of the amount in their R&D, which fuels up the market growth by a large margin. Pharmacogenomics also may help to quickly identify the best drugs to treat people with certain mental health disorders. Cancer is another active area of pharmacogenomic research. Whether fighting a unique and fast-spreading disease like the novel coronavirus or treating a well-known common condition, genomics is increasingly being used to inform more personalized and cost-effective strategies for drug development and use. Such advantages are expected to foster the market significantly during the forecast period.

Clinical trials are now underway to learn whether genetic tests that predict SSRI response can improve patients' outcomes. Pharmacogenomics, a cornerstone of precision medicine, is proving successful for many conditions. Increasing R&D will impact the market substantially in recent years.

Product and Services Outlook (Revenue, USD Billion; 2017-2027)

1. Products
2. Kits
3. Assays and Reagents
4. Instruments
5. Software
6. Services
7. Genotyping
8. SNP Identification
9. Pharmacogenetic Testing
10. Other Services

Technology Outlook (Revenue, USD Billion; 2017-2027)

1. Polymerase Chain Reaction (PCR)
2. Real-Time PCR
3. qPCR
4. Digital PCR
5. DNA Sequencing/Next Generation Sequencing (NGS)
6. Nucleic Acid Amplification Tests (NAATs)
7. Mass Spectrometry
8. Gel Electrophoresis
9. Hybridization
10. Fluorescence In Situ Hybridization (FISH)
11. Chromogenic In Situ Hybridization (CISH)
12. Others
13. Microarray
14. Others

Application Outlook (Revenue, USD Billion; 2017-2027)

1. Oncology
2. Infectious Diseases
3. Neurology/Psychiatry
4. Cardiovascular
5. Others

End-Use Outlook (Revenue, USD Billion; 2017-2027)

1. Research Organization
2. Pharmaceutical Companies
3. Diagnostic Centers
4. Others

Regional Outlook (Revenue, USD Billion; 2017-2027)

1. North America
2. U.S.
3. Canada
4. Europe
5. Germany
6. UK
7. France
8. BENELUX
9. Rest of Europe
10. Asia Pacific
11. China
12. Japan
13. South Korea
14. Rest of APAC
15. Latin America
16. Brazil
17. Rest of LATAM
18. MEA
19. Saudi Arabia
20. UAE
21. Rest of MEA

North America is projected to command the market expansion over the projected timeline attributable to the soaring implementation of Ground-based Monitoring Systems and Sensing and Imagery Systems to enhance the productivity of the agricultural sector. The augmented adoption of smart and precision farming, coupled with the presence of significant market players, is contributing to the progress of the market in the region. The Asia Pacific region is forseen to be the fastest-growing market due to rising initiatives for water conservation in the region. 

To identify the key trends in the industry and read full summary click on the link: https://www.emergenresearch.com/industry-report/pharmacogenomics-market

Key Highlights from the Report

In November 2019, Mammoet, who is a global market leader for lifting and transporting heavy objects, entered into a partnership with the SGS group. SGS Group is helping the company with the construction of a large oil refinery in Nigeria.

The ground-based monitoring system segment held the largest market share of 55.2% in 2019. Growing adoption of the Ground-based Monitoring Systems among the skilled farmers in the developed economies to increase agricultural productivity and enhance crop quality is expected to drive the growth of the segment.

Services are forecasted to grow with the fastest CAGR of 13.8% over the forecast period. Increasing utilization of the Internet of things (IoT) enabled devices for agricultural and non-agricultural purposes, and the growing number of connected agriculture devices is expected to drive the growth of the services segment in the Pharmacogenomics market.

The agricultural segment accounted for the largest market share in 2019. The rising global population, along with the rising demand for food, is expected to increase the adoption of smart agricultural practices.

The Asia Pacific region is expected to be the fastest-growing region over the forecast period. The region is continuously striving to increase agricultural productivity by implementing technologically advanced agricultural practices.