Dublin, Feb. 05, 2024 (GLOBE NEWSWIRE) -- The "Global Pharmacogenomics Technology Market - Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028" report has been added to ResearchAndMarkets.com's offering.
Analysis of the Global Pharmacogenomics Technology sector indicates a strong growth trajectory, with the industry valued at a significant USD 6.46 billion in 2022. Expanding at a Compound Annual Growth Rate (CAGR) of 8.48%, the market is anticipated to continue flourishing until 2028. This growth underscores the momentous sway of personalized treatment approaches in shaping the future of patient care, with pharmacogenomics—abbreviated as PGx—at the core of this development.
Key drivers of growth include the rising prevalence of chronic diseases and increased investments by pharmaceutical companies into personalized medicine solutions. The oncology segment is at the forefront, significantly influencing the market owing to the urgency to personalize cancer treatment—a prime area of focus in pharmacogenomics.
The surge in technological advancements like Polymerase Chain Reaction (PCR) and next-generation sequencing has bolstered the progress in the pharmacogenomics field, leading to more precise and rapid genetic analyses necessary for decoding drug response variability. Such technological leaps are pivotal for the sector, reinforcing the collaborative efforts across healthcare, regulatory frameworks, academia, and industry.
In terms of geographic market dominance, North America stands out as the leader in the pharmacogenomic sphere, benefiting from advanced research infrastructure and regulatory support that fosters pharmacogenomic research and innovation. The region's growth is underpinned by the synergistic relationship across multiple stakeholders driving the pharmacogenomics agenda forward.
Among the numerous industry players shaping this space include QIAGEN N.V., GE HealthCare, Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd, FOUNDATION MEDICINE, INC., Thermo Fisher Scientific Inc., and Leica Biosystems Nussloch GmbH. These companies contribute to the dynamic landscape of the pharmacogenomics market, offering innovative solutions that are transforming the approach towards personalized medicine.
The market analysis covers a broad spectrum of areas within the pharmacogenomics domain, ranging from therapeutic applications like oncology and cardiovascular diseases to the technological aspects including PCR and sequencing. This comprehensive insight sheds light on the robustness and depth of the market, reflecting an era primed for significant advancements in personalized healthcare delivery.
The insightful details highlighted in the report illustrate the integrative role of pharmacogenomics in modern medicine, accentuating its potential to augment patient outcomes and revolutionize healthcare systems globally. As the industry strides towards a brighter future, the steadfast growth of the Global Pharmacogenomics Technology Market paves the way for innovations that could redefine healthcare standards and improve the lives of patients across the globe.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 171 |
| Forecast Period | 2022-2028 |
| Estimated Market Value (USD) in 2022 | $6.46 Billion |
| Forecasted Market Value (USD) by 2028 | $10.5 Billion |
| Compound Annual Growth Rate | 8.4% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes:
- QIAGEN N.V.
- GE HealthCare,
- Agilent Technologies, Inc.
- F. Hoffmann-La Roche Ltd.
- FOUNDATION MEDICINE, INC.
- Thermo Fisher Scientific Inc.
- Leica Biosystems Nussloch GmbH
- Pfizer Inc.
For more information about this report visit https://www.researchandmarkets.com/r/12op2u
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