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Pharmacogenomics deals with the influence of genetic variation on drug response in patients by correlating gene expression changes and Single-Nucleotide Polymorphisms (SNPs) with a drug's efficacy or toxicity. Growing concerns for the early identification of drug advertises, drug safety, and growing need for prompt compliance to regulatory guidelines have led the introduction of new technologies and methods by pharmaceutical manufacturers and other intermediaries. These advancements are expected to fuel adoption of pharmacogenomics technology during the forecast period. Pharmacogenomics has different restorative applications such as cardiology, oncology, neurological disorder, and pain management. In this manner, through further headways in this field, by enhancing drug safety, optimizing drug therapy with increasing patient compliance and further reducing healthcare costs is expected to result in the meteoric growth of the pharmacogenomics market over the forecast period.
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The global pharmacogenomics market was valued at US$ 8,357.3 million in 2017 and is expected to witness a CAGR of 10.8% during the forecast period (2018 – 2026).
Pharmacogenomics is an essential research area for development of medication for pain, cancer, psychotropic, and cardiovascular disease. The success of this medication is possible through the use of innovative technologies that help define the dosage setting for subsets of the population and an individual’s response to a specific drug. The success of the precision medicine is possible through the application of pharmacogenomics that uses information about a person’s genes, enzyme activities, cellular environment, and proteins to diagnose and treat diseases. Rapid advancements in groups of specialized molecular diagnostic tests is contributing to the improvement for assessment of real-time treatment of diseases.
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Table of Contents
1. Research Objectives and Assumptions
◦ Research Objectives
◦ Assumptions
◦ Abbreviations
2. Market Purview
◦ Report Description
▪ Market Definition and Scope
◦ Executive Summary
▪ Market Snippet, By Drug Type
▪ Market Snippet, By Distribution Channel
▪ Market Snippet, By Region
◦ Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
◦ Market Dynamics
▪ Drivers
▪ Restraints
▪ Market Opportunities
◦ Impact Analysis
◦ Market Trends
◦ Regulatory Scenario
◦ Reimbursement Scenario
◦ Epidemiology
◦ PEST Analysis
◦ Recent Product Launch
◦ Merger and Acquisition Scenario
Top players in the market
The market is driven by collaborations and pipelines for upcoming products. Objective of the collaborations between the organization and the companies is identification of specific tumor targets by expansion of known mutations associated with defective DNA repair. Companies are engaged in development of single comprehensive tests that can capture a large amount of relevant content. For instance, in 2017, Qiagen N.V. and Bristol-Myers Squibb signed an agreement for use of Next Generation Sequencing technology to develop gene expression profiles for immuno-oncology therapies.
Research methodology adopted by Coherent Market Insights
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
• Primary Research (Trade Surveys and Experts Interviews)
• Desk Research
• Proprietor Data Analytics Model
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
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