Pharmacogenomics is the study of the genetic variation of human genes that affect an individual's response to a particular drug, and it unites genetic science with pharmaceutical science, therefore, it is a science of drug individualization based on the genetic makeup of an individual. Pharmacogenomics is also relevant to individualized medicine, as environmental conditions, genetic variations, and lifestyle changes greatly affect the type and severity of disease, as well as treatment response that varies from person to person. In pharmacogenomics, various genetic tests are performed to identify or assist in targeted drug treatments, as well as treatment procedures to minimize side effects and improve outcomes. Genetic testing performed in pharmacogenomics can also help determine an individual's susceptibility to certain diseases.
The clinical and economic implications of pharmacogenomics can be summarized as optimizing doses, improving efficacy, reducing adverse effects, and guiding drug development, with the ultimate goal of enabling personalized medicine while reducing unreasonable healthcare costs.
Pharmacogenomics includes DNA sequencing, microsequence, polymerase coupling, electrophoresis and mass spectrometry and other market segments, among which polymerase coupling reaction and DNA sequencing accounted for the largest share, accounting for 29.91% and 27.55% of the global market in 2019, respectively, followed by microsequence and mass spectrometry both accounting for 16.15%, while the electrophoresis market accounted for a relatively low proportion of 5.02%. From the perspective of downstream application fields, pharmacogenomics is mainly used in drug discovery, customized (personalized) treatment, oncology, and pain management. Among them, the drug discovery market is the largest, accounting for 46.68% of the market, followed by oncology with 26.14%, and customized treatment and pain management accounting for 12.06% and 6.52%, respectively.
North America and Europe are the first and second largest revenue markets in the industry, accounting for nearly 80% of the total market
In 2019, the total value of the North American pharmacogenomics market was US$2.465 billion, accounting for 50.94% of the global market share, followed by the European market with a total market value of US$1.314 billion and a market share of 27.17%, China accounting for 7.57% of the global market with a total consumption value of US$360 million, ranking third, the Japanese market accounting for 5.82%, and others like the Middle East Regions such as Africa and South America have smaller markets, accounting for only 0.09% and 2.78% of the market, respectively.
According to the data, the total market value of the global pharmacogenomics industry was $3.477 billion in 2015 and has been increasing year by year since then, reaching $4.832 billion in 2019, with a compound annual growth rate (CAGR) of 8.57% from 2015 to 2019. Based on this data base and combined with the market environment and development law, we have carried out a series of function operations and deduced the data of the next 6 years with scientific models, and finally it can be predicted that by 2025, the total market value of the global pharmacogenomics industry will reach 7.921 billion US dollars, with a CAGR of 8.59% from 2019 to 2025, and the market growth rate will increase slightly during the forecast period.
In addition, through data analysis and model derivation, we predict that the regional competitive landscape will change during the forecast period: the market share of North America and Europe will decline during the forecast period, falling to 49.02% and 25.71% respectively by 2025, while the market share of China will increase from 7.57% in 2019 to 9.24% in 2025, and the share of the Middle East & Africa and South America will increase to varying degrees.
The market CR3 is 41.65%, and the industry concentration is average
In 2019, the total pharmacogenomics market value of the three companies was US$878 million, US$636 million and US$490 million, accounting for 18.17%, 13.17% and 10.13% of the global market, respectively. From the data, it can be seen that the total share of the top 3 companies in the global pharmacogenomics industry is 41.65%, and the CR6 is 59.19%, which shows that the industry concentration is average.
The aging population and the increasing demand for personalized medicines are driving the growth of the global pharmacogenomics market
According to the World Health Organization, the number of people over 60 years old will increase from 900 million in 2015 to 2 billion in 2050 (from 12% to 22% of the global population). The increasing number of elderly populations and the accelerating rate of aging will drive the growth of the pharmacogenomics market.
Pharmacogenomics is a branch of biotechnology where genomic information is used to study an individual's response to a drug, and it can make clinical decisions based on the association of genetic variants with any drug by controlling the dose or selecting other drugs. Currently, pharmacogenomics plays an important role in the drug development process, providing new opportunities for drug discovery. Pharmacogenomics can be used to prevent adverse drug reactions, and its application will greatly help doctors treat specific diseases. For example, in HIV-infected patients, genetic mutation testing is often done before the antiviral drug abacavir (Ziagen) is prescribed. Thus, the increasing demand for personalized medicines will drive the pharmacogenomics market further. In addition, the U.S. Food and Drug Administration (FDA) recommends genetic testing before prescribing the chemotherapy drug purinol to patients with acute lymphoblastic leukemia. In the future, government initiatives such as these will bring new opportunities for pharmacogenomics.