Product Code: CMI7089
The global pharmacogenetic testing market is estimated to be valued at USD 13.11 Bn in 2024 and is expected to reach USD 24.10 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 9.1% from 2024 to 2031.
Report Coverage |
Report Details |
Base Year: |
2023 |
Market Size in 2024: |
US$ 13.11 Bn |
Historical Data for: |
2019 to 2023 |
Forecast Period: |
2024 to 2031 |
Forecast Period 2024 to 2031 CAGR: |
9.10% |
2031 Value Projection: |
US$ 24.10 Bn |
Figure. Pharmacogenetic Testing Market Share (%), By Region 2024
Pharmacogenetic testing is a technique that examines genetic variations of individuals to check their ability to metabolize and respond to drugs. It helps determine the safety and efficacy of medications for an individual based on their genetic makeup. This testing plays a pivotal role in practicing precision or personalized medicine wherein the treatment, its dosage, and duration are customized based on an individual's genetic profile. With the advancement of genomic technologies and declining costs of whole genome sequencing, the market for pharmacogenetic testing is growing rapidly worldwide.
Market Dynamics:
The global pharmacogenetic testing market is driven by rising incidence of chronic diseases requiring long term medication, growing demand for personalized healthcare, declining costs of genomic technologies, and increasing adoption of direct-to-consumer genetic testing kits. However, lack of clinical evidence supporting pharmacogenetic testing, reluctance among physicians for widespread adoption, and reimbursement issues pose challenges to the market growth. Opportunities include growing research activities in pharmacogenomics to discover new biomarkers, partnerships between pharmaceutical companies and diagnostic firms to develop companion diagnostics, and expansion into emerging Asian and Latin American countries.
Key Features of the Study:
- This report provides in-depth analysis of the global pharmacogenetic testing market, and provides market size (USD Billion) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global pharmacogenetic testing market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Laboratory Corporation of America Holdings, Thermo Fisher Scientific, Illumina, Inc, Abbott Laboratories, F. Hoffmann-La Roche Ltd.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global pharmacogenetic testing market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global pharmacogenetic testing market
Detailed Segmentation-
- By Technology
- Polymerase Chain Reaction (PCR)
- Sequencing
- Microarray Analysis
- Other Technologies
- By Application
- Cardiology
- Gastroenterology
- Endocrinology
- Immunology & Hypersensitivity
- Gynecology
- Oncology
- Neurology
- Others
- By End User
- Hospitals & Clinics
- Academic & Research Institutes
- Biopharmaceutical Companies
- Others
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
- Company Profiles:
- Abbott Laboratories
- Admera Health
- Agena Bioscience
- BiogeniQ
- Bio-Rad Laboratories, Inc.
- Cepheid
- Gene by Gene, Ltd.
- Genomic Health
- Illumina, Inc.
- Laboratory Corporation of America Holdings (LabCorp)
- Myriad Genetics, Inc.
- OneOme, LLC
- OPKO Health, Inc.
- Quest Diagnostics Incorporated
- Roche Molecular Diagnostics
- Sonic Healthcare
- Thermo Fisher Scientific Inc.
- 23andMe, Inc.
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snapshot, By Technology
- Market Snapshot, By Application
- Market Snapshot, By End User
- Market Snapshot, By Region
- Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Impact Analysis
- Market Trends
- Key Developments
- Regulatory Scenario
- Acquisitions and Partnerships Scenario
- Funding and Investments
- PEST Analysis
- Porter's Analysis
4. Global Pharmacogenetic Testing Market - Impact of Coronavirus (COVID-19) Pandemic
- Overall Impact
- Government Initiatives
- COVID-19 Impact on the Market
5. Global Pharmacogenetic Testing Market, By Technology, 2019 - 2031, (USD Bn)
- Overview
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Polymerase Chain Reaction (PCR)
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Sequencing
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Microarray Analysis
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Other Technologies
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
6. Global Pharmacogenetic Testing Market, By Application, 2019 - 2031, (USD Bn)
- Overview
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Cardiology
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Gastroenterology
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Endocrinology
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Immunology & Hypersensitivity
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Gynecology
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Oncology
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Neurology
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Others
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
7. Global Pharmacogenetic Testing Market, By End User, 2019 - 2031, (USD Bn)
- Overview
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Hospitals & Clinics
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Academic & Research Institutes
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Biopharmaceutical Companies
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Others
- Overview
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
8. Global Pharmacogenetic Testing Market, By Region, 2019 - 2031, (USD Bn)
- Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020-2031
- Regional Trends
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Technology, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (USD Bn)
- Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Technology, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (USD Bn)
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Technology, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (USD Bn)
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Technology, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (USD Bn)
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Technology, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (USD Bn)
- GCC
- Israel
- Rest of Middle East
- Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Technology, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019 - 2031, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country/Region, 2019 - 2031, (USD Bn)
- North Africa
- Central Africa
- South Africa
9. Competitive Landscape
- Company Profiles
- Abbott Laboratories
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- Admera Health
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- Agena Bioscience
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- BiogeniQ
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- Bio-Rad Laboratories, Inc.
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- Cepheid
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Market Strategies
- Gene by Gene, Ltd.
- Genomic Health
- Illumina, Inc.
- Laboratory Corporation of America Holdings (LabCorp)
- Myriad Genetics, Inc.
- OneOme, LLC
- OPKO Health, Inc.
- Quest Diagnostics Incorporated
- Roche Molecular Diagnostics
- Sonic Healthcare
- Thermo Fisher Scientific Inc.
- 23andMe, Inc.
10. Analyst Recommendations
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
11. Reference and Research Methodology
- References
- Research Methodology
- About us and Sales Contact