The global pharmacogenomics
technology (theranostics and companion diagnostics) market is expected
to reach USD 18.3 billion by 2025, according to a new report by Grand View
Research, Inc. Diagnostics is coming to grips with the wave of pharmacogenomic
tests that are followed by new biological therapy introductions. These tests
enable cost-effective treatment and also add value to the process of
drug-development. Advantages associated with the usage of these tests such as
disease risk prediction, patient stratification, and therapeutic response
monitoring over the traditional methods is anticipated to significant source of
progress in this market.
In addition, pharmacogenomics testing products aid
physicians in individualizing and optimization of patient’s therapeutic
regimen. Pharmacogenomics and theranostics are paving the way for integrated
medicine. Rapid evolution in this group of specialized molecular diagnostic
tests are contributing in improvement for assessment of real-time treatment of
disease.
However, presence of challenges pertaining to early
integration of pharmacogenomic based testing into drug development time lines
for gaining the approval simultaneously is anticipated to impede growth. Proper
designing and implementation of clinical trials in order to identify individual
as well as population variations from a given therapy has become a necessary
attribute for the success of theranostics.
Browse full research report on Pharmacogenomics Technology Market: https://www.grandviewresearch.com/industry-analysis/pharmacogenomics-technology-theranostics-companion-diagnostics-cdx-market
Further
key findings from the report suggest:
- Oncology is estimated to account for the largest revenue share
owing to the presence of substantial number of products in this segment
- Furthermore, precision oncology investigators envision in giving
multiple medications, in varied sorts of combinations, in an effort to
squelch a tumor rather than just temper its growth
- Aforementioned fact is responsible for the estimated revenue share
of cancer in pharmacogenomics technology market
- Polymerase Chain Reaction (PCR) was the largest revenue grossing
segment of the with respect to technology for theranostics
- Advantages associated with the use of the PCR technique makes it
current workhorse of clinical diagnostics
- Moreover, reproducible and precise results produced with the assays
without sacrificing the sensitivity are responsible for the estimated
share
- North American region dominates the market as a consequence of
economic incentives for drug developers to pair their products with
diagnostics.
- Asia Pacific market is projected to showcase fastest growth over
the forecast period as the companies are engaged in capturing untapped opportunities
- Key players operating include F Hoffman La Roche, Agilent
Technologies, Thermo Fisher Scientific Inc., GE Healthcare, Pfizer, Qiagen
NV, Leica Biosystems Nussloch GmBH, and Foundation Medicine.
- Diagnostic companies are positioning themselves to offer
theranostic tools by widening the application of in-vitrodiagnostic
technologies to include more than just disease detection
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/clinical-diagnostics
Grand
View Research has segmented the pharmacogenomics technology (theranostics and
companion diagnostics) market on the basis of therapeutic area, technology, and
region:
Therapeutic
Area Outlook (Revenue, USD Million; 2014 - 2025)
- Oncology
- Lung Cancer
- Breast
Cancer
- Colorectal
Cancer
- Cervical
Cancer
- Others
- Neurological
Disorders
- Cardiovascular
Disease
- Immunological
Disorders
- Others
Technology
Outlook (Revenue, USD Million; 2014 - 2025)
- PCR
- In-situ
Hybridization
- Immunohistochemistry
- Sequencing
- Others
Regional
Outlook (Revenue, USD Million; 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia Pacific
- China
- Japan
- Latin America
- Brazil
- Middle East
& Africa
- South Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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