Pharmacogenomics Testing Market Analysis

Therapeutic Area (Cardiology, Gastroenterology, Anesthesiology, Genomics, Endocrinology, Immunology & Hypersensitivity, Dermatology, Gynecology, Oncology, Neurology)

In terms of therapeutic area, the oncology segment in the pharmacogenomics testing market is anticipated to hold the highest CAGR of 20% by the end of 2037. The growth of this industry can be primarily driven by increasing focus and massive expenditure on cancer research. The global number of cancer cases has grown in the last few years and they are expected to double and triple by the end of 2050. Therefore, this would create a lucrative demand for effective and personalized cancer treatments. Cancer is the leading cause of death worldwide, accounting for nearly 10 million deaths in 2020, or nearly one in six deaths, reported as of World Health Organization.

Distribution Channel (Hospital Pharmacy, Retail Pharmacies, Mail-Order Pharmacies, Direct-to-Customer Services)

Based on distribution channel, the hospital pharmacy segment is expected to hold 40% share of the global pharmacogenomics testing market during the time period between 2024-2037. Pharmacogenomics testing can aid in identifying patients who are unlikely to respond to certain medications or at risk of severe side effects leading to more targeted and effective plans. This translates to enhanced clinical outcomes, reduced hospital readmissions and lowered healthcare costs.

Our in-depth analysis of the global market includes the following segments: