Report : Middle East and Africa Pharmacogenomics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technology (PCR, Sequencing, Microarray, Gel Electrophoresis, Mass Spectrometry, and Others), Application (Drug Discovery, Oncology, Neurology and Psychiatry, Pain Management, Cardiovascular Diseases, and Others), and End User (Hospitals and Clinics, Biopharmaceutical Companies, CROs and CDMOs, and Others)
The drug discovery segment by application is estimated to lead the market growth during the forecast period.
According to a new market research study of “Middle East and Africa Pharmacogenomics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Technology, Application, End User and Country.” The Middle East and Africa pharmacogenomics market is expected to reach US$ 427.68 million by 2028 from US$ 225.72 million in 2021; it is estimated to grow at a CAGR of 9.6% from 2021 to 2028. The report highlights trends prevailing in the Middle East and Africa pharmacogenomics market and the factors driving market along with those that act as hindrances.
The development of newer and better DNA sequencing technologies has led to over a thousand-fold decrease in the cost of sequencing genomes since the launch of the Human Genome Project. The third generation of sequencing underwent development after the next-generation sequencing reached the market. Genomic sequencing technologies have revolutionized mutation detection of genetic diseases in the past few years. The third-generation sequencing (TGS) has gained insight into more genetic disorders due to the single molecular and real-time sequencing technology.
Pacific Biosciences developed new technologies called Single-Molecule Sequencing in Real-Time (SMRT). SMRT is quite efficient and uses fewer expensive chemicals. Its high sensitivity enables scientists to effectively observe DNA polymerase and watch it make a strand of DNA.
A rise in the demand for third-generation sequencing (TGS) technologies is attributed to the lucrative growth rate of the radiation dose management segment. With the emergence of TGS, genome sequencing has become a faster and more reliable method to study genomic variations. SMRT technology has allowed scientists to initiate re-sequencing of the sequenced genome to obtain higher accuracy. Escherichia coli is sequenced to an accuracy of 99.99% by using the SMRT technique.
Third-generation long-range DNA sequencing and mapping technologies are resulting in high-quality genome sequencing. Unlike second-generation sequencing, which produces short reads over a few hundred base pairs, third-generation single-molecule technologies generate over 10,000 bp reads or map over 100,000 bp molecules.
Pharmacogenomics is rapidly transitioning into clinical practice and implementation in healthcare systems supported by government investment 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.
Thus, the continuous funding by manufacturers and governments in the genomics field is driving the pharmacogenomics market.
The Middle East and Africa pharmacogenomics market, based on technology is segmented into sequencing, PCR, gel electrophoresis, mass spectrometry, microarray, and others. The Middle East and Africa pharmacogenomics market, based on application is segmented into drug discovery, oncology, neurology & psychiatry, pain management, cardiovascular disease and others. The Middle East and Africa pharmacogenomics market, based on end user is segmented into hospitals and clinics, biopharmaceutical companies, CROs and CDMOs, and others. Geographically, the Middle East and Africa pharmacogenomics market is sub-segmented into UAE, Saudi Arabia, South Africa and Rest of Middle East and Africa.
Abbott, F. HOFFMANN-LA ROCHE LTD., Oxford Nanopore Technologies, THERMO FISHER SCIENTIFIC INC., Illumina, Inc., QIAGEN, Agilent Technologies, Inc., and Myriad Genetics, Inc. are among the leading companies operating in the Middle East and Africa pharmacogenomics market.
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