South Korea Pharmacogenomics Market (2023-2028)

RESEARCH METHODOLOGY

This research study involved the extensive use of secondary sources, directories, and databases to identify and collect valuable information for the analysis of the global pharmacogenomics market. In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information and assess the growth prospects of the market. The global market size estimated through secondary research was then triangulated with inputs from primary research to arrive at the final market size.

Secondary Research

Secondary research was used mainly to identify and collect information for the extensive, technical, market-oriented, and commercial study of the pharmacogenomics market. The secondary sources used for this study include Centers for Disease Control and Prevention (CDC), United States Food and Drug Administration (US FDA), World Health Organization (WHO), American Cancer Society, National Center for Biotechnology Information (NCBI), National Institutes of Health (NIH), International Chromosome and Genome Society (ICGS), International Mammalian Genome Society (IMGS), International Agency for Research on Cancer (IARC), National Human Genome Research Institute (NHGRI), Centers for Common Disease Genomics (CCDG), Genome Canada, European Society of Human Genetics (ESHG), Genomics England, and Beijing Institute of Genomics. Secondary sources also include corporate and regulatory filings (such as annual reports, SEC filings, investor presentations, and financial statements), business magazines and research journals, press releases, and trade, business, and professional associations. These sources were also used to obtain key information about major players, market classification, and segmentation according to industry trends, regional/country-level markets, market developments, and technology perspectives.

Primary Research

Extensive primary research was conducted after acquiring basic knowledge about the global pharmacogenomics market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand side (personnel from pharmaceutical & biopharmaceutical and biotechnology companies, CROs, and academic & research institutes) and supply side (C-level and D-level executives, product managers, and marketing and sales managers of key manufacturers, distributors, and channel partners, among others, from Tier 1 and Tier 2 companies engaged in offering products) across five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. Approximately 70% of primary interviews were conducted with supply-side representatives, while demand-side participants accounted for the remaining share. This preliminary data was collected through questionnaires, e-mails, online surveys, personal interviews, and telephonic interviews.

The following is a breakdown of the primary respondents:

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Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the pharmacogenomics market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

Bottom-up Approach

• The key players in the industry and market have been identified through extensive secondary research.
• The revenues generated from the pharmacogenomics business of leading players have been determined through primary and secondary research.

All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

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Top-down Approach

After arriving at the overall market size from the market size estimation process, the total market was split into several segments and subsegments.

Data Triangulation

To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Market Definition

Pharmacogenomics, also known as pharmacogenetics, is a specialized field within genomic medicine that utilizes an individual’s genetic information to personalize the selection and administration of drugs in their medical treatment. It aims to optimize therapeutic outcomes by tailoring medication choices based on a patient’s unique genetic makeup.

The market scope of this report is restricted to kits & reagents and services provided by pharmacogenomics product & service providers (such as Illumina, Thermo Fisher Scientific, and PacBio) and pharmacogenomics services provided by CROs for applications in drug discovery and preclinical, clinical, and personalized medicine development.

Stakeholders

• Academic & Research Institutes
• Biotechnology Companies
• Pharmaceutical & Biopharmaceutical Companies
• Contract Research Organizations (CROs)
• Genomics Product & Service Providers
• Market Research & Consulting Firms
• Venture Capitalists & Investors
• Government Associations
• Manufacturers of Pharmacogenomics Testing Products

Report Objectives

• To define, describe, and forecast the global pharmacogenomics market based on product & service, technology, application, disease area, end user, and region
• To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
• To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market
• To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
• To forecast the size of the market segments with respect to five main regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
• To profile the key players in the global pharmacogenomics market and comprehensively analyze their core competencies2 and market shares
• To track and analyze competitive developments such as acquisitions, product launches, expansions, agreements, partnerships, and collaborations in the pharmacogenomics market
• To benchmark players in the pharmacogenomics market using the “Company Evaluation Matrix” framework, which analyzes market players based on various parameters, including product portfolio, geographic reach, and market share

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Geographical Analysis

• Further breakdown of the Rest of Europe pharmacogenomics market, by country
• Further breakdown of the Rest of Asia Pacific pharmacogenomics market, by country
• Further breakdown of the Rest of Latin America pharmacogenomics market, by country

Company Information

• Detailed analysis and profiling of additional market players (up to five)

Segment Analysis

• Further breakdown of the other technologies and other kits & regents into subsegments
• Cross-segment analysis