Global Study On Pharmacogenomics Market Shares, Strategies And Forecasts Worldwide 2017 - 2025 - Credence Research

​The latest market report published by Credence Research, Inc. “Global Pharmacogenomics Market Size - Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 - 2023,” the global pharmacogenomics market was valued at US$ 7,167.6 Mn in 2015, and is expected to reach US$ 11,938.8 Mn by 2024, expanding at a CAGR of 5.6% from 2016 to 2024.

Market Insights

Pharmacogenomics or personalized medicine is defined as “the tailoring of medical treatment to the specific characteristics of each patient.” This concept in reality involves the ability to classify individuals into subpopulations that are uniquely or disproportionately susceptible to a particular disease or responsive to a specific treatment. Personalized medicine emphasizes on paradigm shift in medicine from reaction to prevention.

Browse the full report Global Pharmacogenomics Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2024 at http://www.credenceresearch.com/report/pharmacogenomic-market

The individual response to the drug varies according to the genetic composition. Most of the responses are positive and show improvement while few face the side effects. To address those variations, it is necessary to study how the drug processing is affected by the genes. So when the genetic variation is affecting the drug processing and response, there is scope of the clinical study to be conducted and based on the result, adjust the dosage or to find a different drug according to the genetic composition of an individual.

Genetic study of an individual helps in predicting the susceptibility to disease, its progression and overall improves the diseases detection. Able to design unique disease prevention strategies, prescribe more effective drugs and reduce the ADR’s, enhance quality of life, increase patient compliance; therefore able to optimize the health care cost by reducing the time, cost and rate of failure of clinical trials. Personalized medicine incorporates strong fundamental knowledge about the molecular and genetic frame, which is the main driver for its proliferation.

The global pharmacogenomics market is segmented based on technology type as microarray, sequencing, polymerase chain reaction and other technologies. Sequencing dominates the market, especially with the advent of next generation sequencing attributed by high throughput screening, high accuracy and speed. Further elucidation of this market in terms of technologies is as follows:

• Microarray
• Sequencing
  • Sanger Sequencing
  • Pyrosequencing
  • Next-Generation Sequencing
• Polymerase Chain Reaction
• Other Technologies
  • Mass Spectrometry
  • Electrophoresis

The global pharmacogenomics market is further segmented in terms of therapeutic application such as oncology, cardiology, psychiatry, infectious diseases, pain management, neurological disorders and others. Among these, oncology segment dominates the therapeutic market followed by psychiatry and infectious diseases.

Currently, North America occupies the largest revenue share for global pharmacogenomics market, largely dominated by the U.S. Major growth drivers of North America market are presence of extensive and evolved healthcare infrastructure, increasing preference for better, cost effective and personalized therapeutics for various diseases and infections. Asia Pacific is expected to be the most attractive regional market and is anticipated to witness extensive growth during the forecast period.

Request Sample: http://www.credenceresearch.com/sample-request/58357

Market Competition Assessment:

Key players in the Pharmcogenomicsmarket are

Abbott Laboratories, Inc., Affymetrix, Inc., AstraZeneca plc, Assurex Health, Bayer AG, GeneDX, F. Hoffmann-La Roche Ltd., Illumina, Inc., Myriad Genetics, Inc., Merck & Co, GE Healthcare, GlaxoSmithKline, Johnson & Johnson, Pfizer, Inc., Pathway Genomics, Qiagen, Inc., Teva Pharmaceutical Industries Ltd, Thermo Fisher Scientific, Transgenomic, Inc.

Key Market Movements:

• Focus on personalized medicine emphasizing on the paradigm shift in medicine from reaction to prevention. Able to design unique disease prevention strategies, prescribe more effective drugs and reduce the ADR’s, enhance quality of life, increase patient compliance.
• Recently, pharmacogenomics have being extensively used in drug development. It is used at various stages of drug development assessing and identifying effect of drug target polymorphisms on drug response.
• Discovery of new biological mechanisms and identification of molecules with improved efficacy and safety

About Us:

Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.

Who we are

Credence Research is a worldwide firm, containing more than 15 research consultants and almost 100 research and information professionals.

Our customers mirror our worldwide nature. Around 45% are in Europe, 30% in the Americas, 13% in Asia Pacific and 12% in the Middle East and Africa.

Our firm is intended to work as one. We are a solitary global research organization united by a solid arrangement of qualities, concentrated on customer effect.

What we do

We serve customers at each level of their organization, in whatever limit we can be most helpful, whether as a trusted counsel to top management or as a hands-on mentor for forefront representatives. For each engagement, we collect a group with the most suitable experience and ability.

No matter the challenge, we concentrate on delivering functional and persevering results, and preparing our customers to develop and lead. We join forces with customers to place suggestions into practice. Our research specialist work straightforwardly with customers over long stretches to create workforce aptitudes, drive operational change, and apply new working strategies.

Contact:

Name: Chris Smith

Designation: Global Sales Manager

E-mail: sales@credenceresearch.com

Ph: 1-800-361-8290

Web: http://www.credenceresearch.com