The global pharmacogenomics technology market size was estimated at USD 6.2 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 8.7% from 2023 to 2030. Advancements in genomics have led to an increased understanding of genetic variations and their impact on drug response, which is a primary driving factor in the growth of the market for pharmacogenomics technology. The rising prevalence of chronic disease has led to an increased demand for personalized medicine, which is contributing, to market growth. Furthermore, the reduction in the cost of genomic sequencing and technological advancements is aiding the market growth.
Advancements in genomics have greatly improved the understanding of how genes affect health. Next-generation sequencing technologies have made analyzing DNA and RNA sequencing faster, which has led to the analysis of large amounts of genetic information. Genome-wide association studies have led to identifying the specific gene variation linked to various illnesses, therefore providing insights into genetic causes of diseases. For instance, in June 2021 Qiagen launched the QIAprep& CRISPR Kit along with CRISPR Q-Primer Solutions, which will enable the analysis of modified genetic material at an unprecedented pace and efficiency, allowing researchers to assess how their arbitration has altered the function of relevant DNA sequence.
The rising prevalence of personalized care has significantly contributed to the growth of the pharmacogenomics technology market. The focus on tailoring medical treatments to individual patients has led to personalized care and the recognition of the impact of genetic factors on drug response. Pharmacogenomics technologies play a vital role in identifying genetic variations that influence drug metabolism and efficacy. In May 2022, Invitae announced the launch of a 38-gene testing Invitae Pharmacogenomics (PGx) Panel. It includes Invitae Pharmacogenomics Mental Health Panel and a clinical decision support tool.
Theranostics’ role in decreasing the R&D costs and lowering the time involved in clinical trials pushes its adoption by pharmaceutical companies. Market opportunities are encouraging smaller participants to focus on the development of novel tests for already licensed drugs, thus leading to growth in the coming years. The pharmacogenomics technology market is driven by collaborations and pipelines for upcoming products. The goal of the collaborations between the companies is the identification of appropriate tumor targets by the expansion of known mutations associated with defective DNA repair. Companies are engaged in the development of single comprehensive tests that can capture a large amount of relevant content.
The oncology segment accounted for the largest revenue share of 39.83% in 2022. The oncology segment is further segmented into lung cancer, breast cancer, colorectal cancer, cervical cancer, and others. The ever-expanding armamentarium of therapies based on the principles of molecular diagnostics for cancer treatment is attributed to the increase in the penetration rates of oncology-based tests. Appropriate selection of predictive biomarkers that can provide clinical benefit in a small subset of patients is the crucial step for the implementation of companion diagnostics in cancer.
The oncology segment is expected to grow at the fastest CAGR of 9.2% during the forecast period. Oncology heavily relies on understanding the genetic characteristics of tumors and individual patients to select the most effective therapies. Pharmacogenomics technologies enable oncologists to identify genetic variations within tumors that can be targeted by specific drugs, leading to more precise and effective treatment options
The Polymerase Chain Reaction (PCR) segment accounted for the largest revenue share of around 30.74% in 2022. PCR is driving the market growth due to its crucial role in genetic analysis and diagnostics. PCR allows for the amplification of specific DNA sequences, making it a fundamental tool in genotyping and identifying genetic variations associated with drug response. It is widely used for detecting single nucleotide polymorphisms (SNPs) and genetic mutations that affect drug metabolism and efficacy.
In September 2021, Thermo Fisher Scientific Inc. launched QuantStudio Absolute Q Digital PCR System, a fully inclusive digital PCR (dPCR) technology that can deliver extremely precise results quickly. Without requiring complicated, multi-instrument workflows, the QuantStudio Absolute Q System combines microfluidic array technology and streamlined processes to increase data consistency and accuracy.
The Immunohistochemistry (IHC) segment is expected to register the fastest CAGR of 9.1% over the forecast period due to its significant impact on drug development and personalized medicine. IHC plays a vital role in analyzing protein expression patterns and biomarkers, enabling the identification and localization of specific proteins within tissues. For instance, in April 2023 Leica Biosystems received the clearance for BOND MMR Antibody Panel, which is expected to aid customers by offering the IHC Mismatch Repair (MMR) option when screening patients with colorectal cancer who may have Lynch syndrome.
North America dominated the market and accounted for the largest revenue share of 37.31% in 2022 owing to the presence of established players operating in this region. These players are engaged in active collaborations to gain a share in the pharmacogenomics companion diagnostics market. Accelerated R&D of integrated medicine in the U.S. as a consequence of the active participation of regulatory bodies and the government is anticipated to bolster growth over the forecast period. FDA has issued guidance documents for coordination of milestone reviews with the different agencies, expected performance requirements, clarification of appropriate regulatory strategy, and defining timeliness to enable a smooth application process and key deliverables.
Asia Pacific is expected to grow at the fastest CAGR of 10.4% during the forecast period. The market is rapidly growing in the region due to factors such as a diverse population for genetic research, increasing prevalence of chronic diseases, emphasis on precision medicine, and advancements in technology. The rising burden of chronic diseases in Asia Pacific drives the demand for personalized medicine and targeted therapies. In addition, governments and healthcare institutions are investing in research and infrastructure to support pharmacogenomics initiatives, thereby increasing market growth.
The market is highly competitive with players undertaking strategies such as product launches, approvals, strategic acquisitions, and innovations to increase their global reach. For instance, in January 2023 QIAGEN announced a strategic partnership with Helix a population genomics company to aid companion diagnostics for genetic diseases. Some prominent players in the global pharmacogenomics technology market include:
Agilent Technologies, Inc.
F. Hoffmann-La Roche Ltd
FOUNDATION MEDICINE, INC.
Thermo Fisher Scientific Inc.
Leica Biosystems Nussloch GmBH,
Market size value in 2023
USD 6.9 billion
Revenue forecast in 2030
USD 12.3 billion
CAGR of 8.7% from 2023 to 2030
Base year for estimation
2018 - 2021
2023 - 2030
Revenue in USD million/billion and CAGR from 2023 to 2030
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Therapeutic area, technology, region
North America; Europe; Asia Pacific; Latin America; MEA
U.S.; Canada; U.K.; Germany; France; Italy; Spain; Denmark; Sweden; Norway; Japan; China; India; Australia; South Korea; Thailand; Brazil; Mexico; Argentina; Saudi Arabia; South Africa; UAE; Kuwait
Key companies profiled
QIAGEN; GE HealthCare; Agilent Technologies, Inc.; F. Hoffmann-La Roche Ltd; FOUNDATION MEDICINE, INC.; Thermo Fisher Scientific Inc.; Leica Biosystems Nussloch GmBH; Pfizer Inc.
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This report forecasts revenue growth at global, regional, and country levels and analyzes the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global pharmacogenomics technologymarket report based on therapeutic area, technology, and region:
Therapeutic Area Outlook (Revenue, USD Million, 2018 - 2030)
Technology Outlook (Revenue, USD Million, 2018 - 2030)
Regional Outlook (Revenue, USD Million, 2018 - 2030)
Middle East and Africa
b. The global pharmacogenomics technology market size was estimated at USD 6.2 billion in 2022 and is expected to reach USD 6.9 billion in 2023.
b. The global pharmacogenomics technology market is expected to grow at a compound annual growth rate of 8.7% from 2023 to 2030 to reach USD 12.3 billion by 2030.
b. Oncology dominated the pharmacogenomics technology market with a share of 39.8% in 2022 owing to the increasing popularity of personalized therapies for cancer treatment and growing demand for early cancer screening.
b. Some key players operating in the pharmacogenomics technology market include Qiagen NV, GE Healthcare, Agilent Technologies, F Hoffman La Roche, Foundation Medicine, Thermo Fisher Scientific Inc., Leica Biosystems Nussloch GmBH, and Pfizer.
b. Key factors that are driving the pharmacogenomics technology market growth include the increasing popularity of targeted therapies and increasing collaboration between pharma and diagnostic companies for new product development in the space.
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