Global Pharmacogenomics Market to Grow at 7.55% During 2025-2033, Supported by Development of Precision Medicine

December 23, 2024 | Healthcare

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According to the latest report by IMARC Group, titled “Pharmacogenomics Market Report by Technology (Polymerase Chain Reaction, Microarray, DNA Sequencing, Mass Spectrometry, Electrophoresis, and Others), Application (Oncology, Infectious Diseases, Cardiovascular Diseases, Neurological Diseases, Psychiatry, Pain Management, and Others), End User (Hospitals and Clinics, Academic and Research Institutes), and Region 2025-2033”, the global pharmacogenomics market reached a value of USD 8.6 Billion in 2024. Pharmacogenomics is a field of research that studies the relation between the deoxyribonucleic acid (DNA) of an individual and their response to a drug. It helps healthcare providers to select and develop safe, effective medications that can be tailored to the genetic design of a person. Pharmacogenomics studies variations in certain proteins, such as liver enzymes, that affect the performance of a drug. The drug development process through pharmacogenomics consists of various analyses, which include drug receptors, drug uptake, drug breakdown, and targeted drug development. Overall, it decreases healthcare costs via reduced adverse drug reactions, minimal number of failed clinical trials, and lesser time consumption in the drug approval process. Pharmacogenomics also helps in designing precise methods of measuring appropriate drug dosages and the development of more efficient vaccines.

Global Pharmacogenomics Market Trends:

A significant rise in the research and development (R&D) expenditure activities and an increase in the instances of adverse reactions of drugs are some of the primary factors that are currently driving the global pharmacogenomics market growth. Additionally, there is a rising preference toward precision medicine on account the emerging need for improved drug efficacy and safety, which is further contributing to the growth of the market. Other than this, the increasing prevalence of different types of cancer is also fueling the market growth as targeted therapy has proven to improve the survival rates of patients and decrease redundant costs. Moreover, rapid technological advancements have resulted in the introduction of newer and upgradation of existing laboratories, which is attracting numerous investors from across the healthcare industry, thereby creating a positive outlook for the market. Looking forward, the market value is projected to reach USD 17.0 Billion by 2033, expanding at a CAGR of 7.55% during 2025-2033.

Market Summary:

On the basis of the technology, the market has been segmented into polymerase chain reaction, microarray, DNA sequencing, mass spectrometry, electrophoresis, and others.
Based on the application, the market has been segregated into oncology, infectious diseases, cardiovascular diseases, neurological diseases, psychiatry, pain management, and others.
Based on the end user, the market has been bifurcated into hospitals and clinics, and academic and research institutes.
On a regional basis, the market has been mainly divided into North America (United States, and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and Middle East and Africa.
The competitive landscape of the market has also been examined, with some of the key players being Abbott Laboratories, AstraZeneca plc, Bayer AG, Becton Dickinson and Company, Bio-Rad Laboratories Inc., F. Hoffmann-La Roche AG, GlaxoSmithKline plc, Illumina Inc., Johnson & Johnson, Merck KGaA, Myriad Genetics Inc., Qiagen N.V. and Thermo Fisher Scientific Inc.

Report Scope:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Technology, Application, End User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Abbott Laboratories, AstraZeneca plc, Bayer AG, Becton Dickinson and Company, Bio-Rad Laboratories Inc., F. Hoffmann-La Roche AG, GlaxoSmithKline plc, Illumina Inc., Johnson & Johnson, Merck KGaA, Myriad Genetics Inc., Qiagen N.V. and Thermo Fisher Scientific Inc.
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Pharmacogenomics Market to Grow at 7.55% During 2025-2033, Supported by Development of Precision Medicine

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