Pharmacogenomics Market Projected to Reach $15.98 Billion by 2030 Driven by AI and Precision Medicine
The pharmacogenomics market is experiencing rapid growth, with projections indicating it will reach $15.98 billion by 2030, growing at a compound annual growth rate (CAGR) of 10.2%. This expansion is fueled by increasing investments in precision medicine, the growing adoption of AI-powered genomic analysis, and broader applications in oncology and cardiology. Key trends shaping the industry include personalized medicine adoption, genetic testing for drug selection, integration of pharmacogenomic data into clinical workflows, and the expansion of companion diagnostics. Major companies in this landscape include Illumina Inc, Eurofins Scientific, Myriad Genetics Inc, and Thermo Fisher Scientific Inc. Recent strategic moves, such as Genomenon's acquisition of Boston Genetics in June 2023, aim to enhance genomic intelligence capabilities by merging AI platforms with expert genome curation. Innovations like PGxAI's Sirius model, launched in December 2024, are further transforming drug response prediction and man...