Home > Pharmaceuticals > Europe Pharmacogenomics Market Includes Latest Trends, Share, and Forecast 2030
Straits Research

Europe Pharmacogenomics Market

How is Europe Market for Pharmacogenomics Growing at a Healthy CAGR of 8.56%

Table of Content Download Sample

Market Overview

The Europe pharmacogenomics market is expected to reach USD 2870.15 million by 2030, with a CAGR of 8.56%.

In pharmacogenomics, genes are studied concerning drug response. This field combines pharmacology (the science of pharmaceuticals) and genomics (the study of genes and their functions) to create effective, safe treatments depending on a person's genetic composition.

Many medications on the market today are "one size fits all," but they don't work the same for everyone. It's difficult to tell who will benefit from a drug and who will have side effects (called adverse drug reactions). Adverse medication reactions cause a considerable number of hospitalizations and deaths.

Researchers are trying to figure out how genetic variations affect the body's response to drugs. These genetic distinctions will be utilized to forecast whether a treatment will be successful for a specific person and which dosage will help avoid unpleasant drug reactions. Conditions like clopidogrel resistance, warfarin sensitivity, warfarin resistance, malignant hyperthermia, Stevens-Johnson syndrome/toxic epidermal necrolysis, and thiopurine S-methyltransferase deficiency can change how a person responds to certain medicines.

The science of pharmacogenomics is expanding, and clinical studies are testing new approaches. Pharmacogenomics will be utilized in the future to develop personalized medications to treat a variety of diseases, including cardiovascular disease, Alzheimer's disease, cancer, and asthma.

Market Snapshot

Base Year:
2021
Study Period:
2020-2030
CAGR:
8.56 %
Get more information on this report Download Sample Report

Market Dynamics

Market Drivers

The rising frequency of chronic diseases, the surge in demand for precision medications, and the increase in financing for pharmacogenomic research activities

Genomic sequencing is becoming more common in clinical practice, and during the next five years, the healthcare system is expected to generate genomic data from over 60 million people. Pharmacogenomics is fast making its way into clinical practice, with government funding reaching more than $4 billion in at least 14 nations. These national genomic-medicine programmes drive transformative change in real-world settings while addressing implementation challenges and gathering data for broader acceptance.

As part of a EUR 200 million public-private partnership between charity and pharma, the United Kingdom has unveiled the world's largest genome project. Through 100,000 genomic initiatives led by Innovate UK as part of the UK Research and Innovation, the government has already established the world's largest genome database. It will support researchers and businesses in their efforts to combine data and real-world evidence from UK healthcare systems to develop innovative products and services that diagnose diseases more quickly.

The pharmacogenomics sector in Europe is being driven by continued support from manufacturers and governments in the genomics discipline.

Market Restraints

These are some of the issues hindering the market growth of pharmacogenomics

  • Infrastructure

Infrastructure is one of the significant roadblocks to clinical pharmacogenomics. The ethical and political frameworks, the re-education of many different groups in the health sector, and the physical infrastructure for pharmacogenomic tests are all part of this. These obstacles are not exclusive to pharmacogenomic tests. After the general infrastructure has been put up for a single pharmacogenomic test, subsequent tests will only necessitate minimal infrastructure changes. Making a case for the initial investment is the issue.

  • Education

A lack of healthcare professional education hampers the widespread use of pharmacogenomics. A perceived shortage of pharmacogenomic education is hampering Pharmacogenomics' market expansion among various health care practitioners.

  • Ethical issues

Many people have expressed concerns regarding the ethical implications of using genetic data in medicine. It is perhaps more important in the context of pharmacogenomics for genetic testing that predicts efficacy rather than adverse outcomes. The three primary categories of ethical dilemmas are the equitable provision of healthcare, the possibility that genetic polymorphisms may track with race or ethnicity, and the considerations of consent, access, and privacy surrounding pharmacogenomic information.

Segmental Analysis

The Europe pharmacogenomics market is divided into PCR, sequencing, microarray, gel electrophoresis, mass spectrometry, and other technologies based on technology. The PCR market is divided into real-time, regular, and digital PCR. In 2021, the PCR category accounted for the most significant share of the pharmacogenomics market.

The Europe pharmacogenomics market is divided into drug discovery, cancer, neurology and psychiatry, pain management, cardiovascular disorders, and others, depending on the application. In 2021, the oncology segment held the highest market share. However, the drug discovery category is predicted to have the highest CAGR during the projection period.

The pharmacogenomics market is divided into hospitals and clinics, biopharmaceutical firms, CROs and CDMOs, and others, depending on the end-user. In 2021, the CROs and CDMOs categories held the most market share, while the hospital and clinic segment is predicted to grow fastest throughout the forecast period.

Regional Analysis

The Europe pharmacogenomics market is segmented into Germany, the UK, France, Italy, Spain and the rest of Europe, based on country.

As part of a EUR 200 million public-private partnership between charity and pharma, the United Kingdom has unveiled the world's largest genome project. Through 100,000 genomic initiatives led by Innovate UK as part of the UK Research and Innovation, the government has already established the world's largest genome database. It will support researchers and businesses in their efforts to combine data and real-world evidence from UK healthcare systems to develop innovative products and services that diagnose diseases more quickly.

Regional Growth Insights Download Free Sample

Top Key Players of Europe Pharmacogenomics Market

  1. Abbott
  2. HOFFMANN-LA ROCHE LTD.
  3. Oxford Nanopore Technologies
  4. THERMO FISHER SCIENTIFIC INC.
  5. Illumina, Inc.
  6. QIAGEN
  7. Agilent Technologies, Inc.
  8. Myriad Genetics, Inc.

Report Scope

Report Metric Details
CAGR 8.56%
Forecast Period 2023-2031
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered
  1. By Technology
    1. PCR
      1. Real-time PCR
      2. Regular PCR
      3. Digital PCR
    2. Sequencing
    3. Microarray
    4. Gel electrophoresis
    5. Mass Spectrometry
    6. Other technologies
  2. By Application
    1. Drug discovery
    2. Cancer
    3. Neurology and psychiatry
    4. Pain management
    5. Cardiovascular disorders
    6. Others
  3. By End-User
    1. Hospitals and clinics
    2. Biopharmaceutical firms
    3. CROs and CDMOs
    4. Others

Recent Developments

  • March 2022, Additional drugs and diagnostics have been donated to Ukraine by Roche.

Aside from the 150,000 antibiotic packs already announced, the latest donation also contains 4,600 packs of speciality drugs for the treatment of influenza, rheumatoid arthritis, SMA, and different malignancies. They're also giving reagents and consumables for the automated testing of up to 120,000 blood donations and 31,000 diabetes-management units.

  • May 2022, New pivotal data on Roche's investigational CD20xCD3 T-cell engaging bispecific antibody, glofitamab, will be presented for the first time at the 2022 American Society of Clinical Oncology (ASCO) Annual Meeting, which will be held on June 3-7, and the European Hematology Association (EHA) 2022 Congress, which will be held from June 9-12.
  • May 2022, The European Commission has authorized Roche's Polivy combination for individuals with untreated diffuse large B-cell lymphoma.

Europe Pharmacogenomics Market Segmentation

By Technology

  • PCR

    • Real-time PCR
    • Regular PCR
    • Digital PCR
  • Sequencing
  • Microarray
  • Gel electrophoresis
  • Mass Spectrometry
  • Other technologies

By Application

  • Drug discovery
  • Cancer
  • Neurology and psychiatry
  • Pain management
  • Cardiovascular disorders
  • Others

By End-User

  • Hospitals and clinics
  • Biopharmaceutical firms
  • CROs and CDMOs
  • Others

By Country

  • United Kingdom
  • France
  • Germany
  • Italy
  • Russia
  • Spain
  • Rest of Europe
Price Starts From
USD 995

Purchase Benefits

  • Eligible for a free updated report next year
  • Completely customizable scope
  • 30% discount on your next purchase
  • Dedicated account manager
  • Query resolution within 24 hours
  • Permission to print the report
Want to learn more about recent trends and data ?
They Already Trust Us :
Veto-Pharma
Nippon Becton Dickinson
Merck
Argon Medical Devices
Abbott
Johnson & Johnson
Need Assistance?
+1 646 905 0080 (U.S.)
+44 203 695 0070 (U.K.)
sales@straitsresearch.com

Report Benefits

  • Develop business strategies by understanding the trends shaping and driving the Market.
  • Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the Market in the future.
  • Formulate effective sales and marketing strategies by understanding the competitive landscape and by analysing the company share of market leaders.
  • Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
  • Track sales in the global and country-specific Market.
  • Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments and strategic partnerships.
Report Snapshot
Looking For Custom Report ?
Check Our License Options :

As featured on :

clients
Trusted by Fortune 500
Over 30000+ subscribers