Pharmacogenomics And Pharmacogenomics Market By 2017

The basic aim of Pharmacogenomics is to develop a relation between drug therapy and genetic structure of human which helps to optimize drug therapy with respect to patients genetic structure to maximize efficacy and minimize side effects.

so sometimes it is referred as "Personalized Medicine".

we can define it as :

Pharmacogenomics is the technology that analyses how Drug responses to an individual according to their genetic structure.

It analyse the influence of genetic variation of individual to the drug response by correlating gene expression (the process which is used in synthesis of various functions on the basis of gene information ) or  single nucleotide  polymorphism with drug toxicity or efficacy.

Basically variations in genetic structure,lifestyle of individual,environmental conditions of particular region,severity and type of disease affect on the treatment by individual basis.So genetic tests assists to determine best possible deug therapies and treatment protocol.

there are two types of input can be used to provide pharmacogenomics based on recommendation for a given drug that are 

1. Genotyping :  It is the process which determine the differences in the genetic structure of an individual's DNA sequence by comparing it with the reference sequence.
2. genome sequencing : It is the symbolic linear depiction of organism's hereditary information.  

Basic Goals of pharmacogenomics 

1. Focus On prevention not on reactions
2. Enhance safety of drugs
3. optimize Drug Therapy
4. Improve compliance of patient
5. Reduce Cost of healthcare

Applications:

1. Pharmacogenomics has applications in various diseases like Cancer,depression,HIV,tuberculosis,asthma,diabetes,cardiovascular disorder,etc
2. in cancer treatment these tests are used to identify which patients give best responce to which treatments.
3. pharmacogenomic tests provide various tools for physicians better management of medicine and there side effects on individual basis.
4. pharmacogenomic is also known as Companion diagnostics means tests are bundled with various drugs.
5. Beside efficacy,pharmacogenetics can help to identify toxicities of drug.

Global Market Of Pharmacogenomics:

source: marketsandmarkets.com

The global bioinformatics market has value at about $2.9 billion in 2012 and will reach to $7.5 billion by 2017 at a CAGR of 20.9%. These technologies are used in various pharmaceutical and biotechnology sectors to support their growth. Major sectors which are influenced by this technology are medicine, agriculture, environment, animal, forensic, academics,etc. 

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Major Market Barriers:

1. FDA Approval process for Pharmacogenomics is very slow process
2. Complexity of Technology
3. Need More R&D
4. Development Cost is high 

Conclusion:

Best way to explain importance of Pharmacogenomics is: 

“It’s far more important to know what person the disease has than what disease the person has.” -Hippocrates

And speaking about the Pharmacogenomics market,right now the market is in the R&D process but speaking about future it will be a multi billion market.

For Market Forecast you can also see Market report on Pharmacogenomics Market- http://www.marketsandmarkets.com/Market-Reports/bioinformatics-39.html