The global pharmacogenomics market is segmented into hospitals & diagnostic laboratories, academic and research institutes, and other end users. In 2024, the hospitals & diagnostic laboratories segment is expected to account for the largest share of the pharmacogenomics market. The large market share of this segment is attributed to the growing adoption of precision medicine, the large number of clinical trials conducted at these facilities, the growing prevalence of chronic diseases, and the focus of pharmacogenomic testing services companies on acquisitions and launches of new pharmacogenomic testing services.

Several commercial diagnostic companies are taking initiatives such as acquisitions and product and testing service launches to expand their presence in the pharmacogenomics market. For instance, in April 2022, Castle Biosciences, Inc. (U.S.), a diagnostic company and a pharmacogenomic test provider, announced the acquisition of Athlea Dx, Inc. (U.S.), a molecular diagnostics company, and its IDgenetix pharmacogenomic (PGx) test for depression, anxiety, and other mental health conditions.

Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and the Rest of Europe), Asia-Pacific (Japan, China, India, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa. Based on geography, in 2024, North America is expected to account for the largest share of the global pharmacogenomics market, followed by Europe and Asia-Pacific. The large market share of this region is attributed to the increased cases of genetic diseases, awareness about early genetic disease diagnosis, government promoting certain genetic testing in case of hereditary cancers and newborn screening, and the presence of major market players.

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Key questions answered in the report:
• What is the current value of revenue generated by pharmacogenomics products across the globe?
• At what rate is the demand for global pharmacogenomics products projected to grow for the next 5-7 years?
• What is the historical market size and growth rate for pharmacogenomics across the globe?
• What are the major factors impacting the growth of this market at the global and regional levels? What are the major opportunities for existing market players and new entrants in the market?
• Which segments are creating major traction for the vendors in this market in terms of the offering, technology, application, and end user?
• What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the vendors operating in the global pharmacogenomics market?
• Who are the major players in the global pharmacogenomics market? And what are their specific products offered in the pharmacogenomics industry?
• What recent developments have taken place in the global pharmacogenomics market, and how these strategic developments are creating a global impact in this market?

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