Increasing global healthcare expenditure is propelling the growth of the pharmacogenomics market
Pharmacogenomics is a field in which biological processes are studied in order to analyze how various organisms respond to external stimuli such as the environment and also how they evolve and interact with one another. It also studies how different sets of genes influence responses to common diseases, and how these influences can be manipulated by altering the sets of coding for those genes or even by directly manipulating the organism's protein-making enzymes. A major goal of pharmacogenomics is to provide personalized medicine, where a single pharmacogenetic response is determined for any individual patient based on the sequencing of their genome. The rise in the adoption of pharmacogenomics procedures across the healthcare industry coupled with the increase in the geriatric population is driving the growth of the pharmacogenomics market. Growing demand for personalized therapy is another key factor augmenting the growth of the pharmacogenomics market. According to the Ameri...