Pharmacogenomics is the study of the relationship between genes and the drug response in humans. The pharmacogenomics market is driven by significant growth in the pharmaceutical sector. According to The European Federation of Pharmaceutical Industries and Associations’ Key Data 2019, the pharmaceutical sector in Europe was valued at US$ 139, 287 million in 2000, which increased to US$ 284, 028 million (est.) in 2018.
Pharmacogenomics combines pharmacology (a science of medications) and genomics (a study of genomes and their roles in how humans respond to medications) to develop safe, effective drugs and doses that would otherwise be tailored to a particular individual or genetic makeup. The high prevalence of various diseases is expected to aid in the growth of the pharmacogenomics market. According to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S. Pharmacogenomics has been greatly beneficial to clinical pharmacology by enabling pharmacists to customize treatment plans for patients with specific deficiencies or risks that would not have been treatable without this knowledge. It also reduces the amount of trial and error by enabling pharmacists to prescribe only those doses that are most effective and with the least side effects.
An increasing number of drug development activities is expected to aid in the growth of the pharmacogenomics market. In April 2021, Vertex received European Commission label extension approval for triple combination cystic fibrosis treatment Kaftrio, extending its use for the ‘majority of patients aged 12 years and older in the U.K, Germany, and other European nations. The field of pharmacogenomics now encompasses many types of research and studies. Some of these are focused on drug development, particularly in the area of genetic disorders of various types. Some studies look at how pharmacogenomics can impact public health, focusing on its impact on preventative measures such as the use of vaccines. These studies continue to provide insight into how this new area of drug development can benefit society.
One of the areas of great interest in pharmacogenomics right now is to study the role of genetic differences in human diseases. This has brought scientists a step closer to perhaps figuring out the origins of diseases as well as how to prevent or treat them. For some time, geneticists have been able to sequence the DNA of various cells and organisms. They then used this information to map the genetic differences between different organisms. This has provided them with a rich source of information about the genetic makeup of humans.
The pharmacogenomics market also deals with personalized medicine. Although many people think of personalized medicine when they hear the term, it actually applies to pharmacogenomics and how it may apply to some existing forms of medicines. Personalized medicine refers to the use of certain drug ingredients to target specific problems or illnesses. Because of the difficulty and expense associated with this process, pharmaceutical companies have been eager to apply pharmacogenomics to their efforts.
