Europe Pharmacogenomics Market

The Europe pharmacogenomics market is expected to reach US$ 3,874.31 million by 2028 from US$ 1,962.48 million in 2021. It is estimated to grow at a CAGR of 10.2% from 2021 to 2028.

The key factors driving the growth of this market are the increasing prevalence of chronic diseases, the surge in demand for precision medicines, and the rise in funding for pharmacogenomic research activities. However, the shortage of skilled professionals is expected to restrict the market growth during the forecast period.

Genomic sequencing is increasingly used in clinical practice, and over the next five years, genomic data from over 60 million patients are expected to be generated within the healthcare system. Pharmacogenomics is rapidly transitioning into clinical practice, and implementation into healthcare systems supported by government investment is totaling over US$ 4 billion in at least 14 countries. These national genomic-medicine initiatives drive transformative change under real-life conditions while simultaneously addressing barriers against implementation and gathering evidence for broader adoption.

The UK has announced the world’s largest genome project as a part of the EURO200 million public-private collaboration between charities and pharma. The country has already developed the largest genome database in the world through the 100,000 genome projects led by Innovate UK as a part of the UK Research and Innovation. It will fund researchers and industries to combine data and real-world evidence from the UK healthcare services and create new products and services that diagnose diseases more efficiently.

In November 2018, Stilla Technologies announced it had completed an US$ 18.3 million (EUR 16 million) Series A financing round led by Illumina Ventures. The company plans to use the funds to commercialize its Naica digital PCR system and develop clinical applications.

The continuous funding by manufacturers and governments in the genomics field is driving the Europe pharmacogenomics market.

Europe Pharmacogenomics Market Revenue and Forecast to 2028 (US$ Mn)

EUROPE PHARMACOGENOMICS MARKET SEGMENTATION

By Technology

• Hospitals & Clinics
• Biopharmaceutical Companies
• CROs and CDMOs
• Others

By Application

• PCR
• Sequencing
• Microarray
• gel electrophoresis
• mass spectrometry
• Others

By End User

• Drugs Discovery
• Oncology
• Neurological & Psychiatry
• Pain Management
• Cardiovascular
• Others

By Country

• Germany
• UK
• France
• Italy
• Spain
• Rest of Europe

Company Profiles

• Abbott
• F. HOFFMANN-LA ROCHE LTD.
• Oxford Nanopore Technologies
• THERMO FISHER SCIENTIFIC INC.
• Illumina, Inc.
• QIAGEN
• Agilent Technologies, Inc.
• Myriad Genetics, Inc.

Europe Pharmacogenomics Strategic Insights

Strategic insights for the Europe Pharmacogenomics provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Europe Pharmacogenomics Report Scope

Europe Pharmacogenomics Regional Insights

The geographic scope of the Europe Pharmacogenomics refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.