Throughout the predicted period, market growth is likely to be driven by rising demand for precision pharmaceuticals as well as a rise in disease susceptibility among an ageing population. For instance, the National Cancer Institute predicted in September 2020 that there would most likely be 606,520 cancer-related fatalities and 1,806,590 new cases of cancer identified in the U.S.
The estimated size of the global Pharmacogenomics Market is US$14,028.01 million in 2022 and is anticipated to grow at a CAGR of 11.1% from 2022 to 2030.
Top Companies in the Pharmacogenomics Industry:
1) Admera Health: As a clinical genomics business, Admera Health was established in 2014 as a spinout from the genetics firm Genewiz. Admera Health, now largely a research service provider, provides outstanding service by combining experienced scientific support, cutting-edge laboratory procedures, rigorous quality control methods, and proven quality project management. The US state of New Jersey is home to Admera Health's corporate headquarters. 2019 will see the beginning of a strategic partnership between the Chinese-based MedCDx and the US-based Admera Health to co-develop companion diagnostics.
2) Abbott Laboratories: Abbott produces and sells branded generic pharmaceuticals, adult and paediatric nutritional items, diagnostic tools, and testing kits. Pacemakers, implanted cardioverter defibrillators, neuromodulation tools, coronary stents, catheters, baby formula, adult dietary liquids, molecular diagnostic platforms, immunoassays, and point-of-care diagnostic tools are among the products. Built in 1988. Headquarter location: Chicago, Illinois, USA. blood sample tube. The lab-based concussion test from Abbott checks for two biomarkers in the blood that, when discovered in high concentrations, have both been strongly associated with traumatic brain injury. In tests, it produced results with a 99.4% negative predictive value and 96.7% sensitivity.
3) Agilent Technologies: Agilent, which first broke out from Hewlett-Packard in 1999, has developed into a significant leader in the diagnostics and life sciences sectors. Santa Clara, California, is home to the American administration. The acquisition of Avida Biomed by Agilent Technologies Inc. was announced in 2023. Avida Biomed is a startup life sciences company that creates high-performance target enrichment workflows with distinctive capabilities for clinical researchers using next-generation sequencing (NGS) methods to study cancer.
4) Novartis AG: In 1996, Novartis was founded. base of operations is in Basel, Switzerland. The successful acquisition of The Medicines Company by Novartis will include the investigational cholesterol-lowering medicine inclisiran in 2020, which has the potential to be a first-in-class treatment. Innovative Medicines and Sandoz are two business sectors under which Novartis develops and produces healthcare goods. The Innovative Medicines segment, which includes international business franchises in ophthalmology, oncology, immunology, respiratory, cardio-metabolic, neurology, and established pharmaceuticals, is where the vast majority of company income is generated.
5) Dynamic DNA Laboratories: Modern genetics lab Dynamic DNA Laboratories specializes in cutting-edge DNA testing. We work to better understand our consumers and eventually help them lead healthier and happier lives by providing a variety of services, such as Family and ancestry testing, Proactive health panels, and Customized medication reporting. Headquarters in the American Midwest. Founded Date 2015.
6) Empire Genomics: Empire Genomics is a cancer molecular diagnostics company. They develop genetic tests for over 200 different health issues. Its headquarters are in Buffalo, New York, USA. Dr. Norma J. Nowak founded Empire Genomics in 2006 in Buffalo, New York. BIOCARE MEDICAL acquires Empire Genomics, expanding its molecular portfolio to over one million biomarkers and adding rapid biomarker development to lead cancer research.
Definition: Pharmacogenomics is the study of how a person's genes influence how he or she responds to medications. Its long-term goal is to assist doctors in selecting the drugs and dosages that are best suited for each individual.
