Market Research Future adds new report of “Global Pharmacogenomics Market Research Report – Forecast to 2027” it contains Company information, geographical data and Table of Content
Competitive Analysis:
RPRD (Right Patient Right Drug) Diagnostics, a privately-held, Wisconsin-based precision medicine company, on February 2017, declared a strategic partnership with Orient Bio Inc., a leading South Korean biotechnology company.
An agreement signed during Governor Scott Walker’s trade mission to South Korea calls for establishing a business plan in which RPRD Diagnostics will expand the availability of its advanced pharmacogenomics (PGx) testing services into new markets and Orient Bio will diversify its business into new areas, including precision medicine and clinical PGx.
The key players that are involved in global pharmacogenomics market Myriad Genetics, Inc (U.s), Transgenomic, Inc(U.s), 23andMe (U.S), Pathway Genomics (CA), Genetech (CA), GeneDX (U.S), Teva Pharmaceutical Industries Ltd.(Israel), Illumina, Inc.(U.s), Assurex Health, Inc.(U.s), and others.
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Market Segments
The market for pharmacogenomics is segmented into mainly three; by application, by therapeutic application, by end user and its various sub-segments.
- By Application include drug safety, Tailor treatments, drug discovery
- By Therapeutic Application Include cancer, oncology, cardiovascular
- By Methods include haplotype analysis, multivariate techniques, quantitative trait analysis
Market Highlight:
Pharmacogenomics is the study of how genes effect on a person’s response to drugs. This comparatively latest theory combines pharmacology (the science of drugs) and genomics (the study of genes and their functions) to advance effective, safe medications and doses that will be tailored to a person’s genetic condition.
Some of the factors driving the market are increasing prevalence of several infectious and non-infectious diseases, rising use of drug discovery processes, increasing demand for personalized drugs, and developing awareness about benefits related with pharmacogenomics. Illnesses needs proper effective treatment that should be more reliable and safe at the same time. Pharmacogenomics can help to achieve both. Increasing awareness about its benefits is likely to drive demand globally.
Application of pharmacogenomics would seriously benefit physicians in the treatment of a particular segment of population by studying their responses to specific drugs. Additionally, the knowledge of effectiveness of a drug in a patient would make a drug more reliable, and limit the number of drugs to be withdrawn from the market due to different negative reactions in some patients to whom they were reacted.
Several pharmacogenomics tests have been advanced and some are under development. This represents noticeable deliverables of the numerous genomic studies to correlate genetic variation with variable drug response. Certain drugs such as warfarin, thiopurines, clopidogrel, irinotecan, abacavir, carbamazepine, and phenytoin are used for pharmacogenomics tests. These tests are performed for diseases such as excessive clotting disorder, autoimmune/childhood leukemia, cancer, HIV, epilepsy, and psychiatric and related diseases.
Regional Analysis of Pharmacogenomics
North America dominated the global pharmacogenomics market with the largest market share, accounting for million and is expected to grow over billion by 2027. The European market for Pharmacogenomics is expected to grow at GAGR (2016-2027). Asia-Pacific is expected to grow at CAGR from million in 2016 to million by 2027.
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Brief TOC
- Report Prologue
- Market Introduction
- Research Methodology
- Market Dynamics
- Market Factor Analysis
- Global Pharmacogenomics Market, By Application
- Global Pharmacogenomics Market, By Therapeutic Application
- Global Pharmacogenomics Market, By Methods
- Global Pharmacogenomics Market, By Region
- Company Profile
- Conclusion
- Appendix
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