The global pharmacogenomicstechnology (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.
Germany pharmacogenomics technology market by therapeutic
area, 2014 - 2025
(USD Million)
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.
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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
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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
o Lung
Cancer
o Breast
Cancer
o Colorectal
Cancer
o Cervical
Cancer
o 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
o U.S.
o Canada
·
Europe
o Germany
o UK
·
Asia Pacific
o China
o Japan
·
Latin America
o Brazil
·
Middle East & Africa
o South
Africa
.
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View Research:
www.grandviewresearch.com/press-release/global-pharmacogenomics-technology-theranostics-companion-diagnostics-cdx-market
www.grandviewresearch.com/press-release/global-pharmacogenomics-technology-theranostics-companion-diagnostics-cdx-market
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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information: www.grandviewresearch.com
