Worldwide compound annual growth rate of Pharmacogenomics expected to reach 22% by 2008

August 26, 2004 -- Research and Markets announces the addition of "Pharmacogenomics 2003: A Strategic Market Outlook and Business Analysis" to its offerings.

Pharmacogenomics studies how genetic variations among the population affect drug response. It involves the analysis of genomic data to develop new drug targets, a screening process ofmore efficient clinical trials and molecular diagnostic tests used to determine individualized drug responses. The current pharmacogenomics field focuses on SNP analysis, which is known to be one of the major forms of genetic variations. An application resulting from pharmacogenomics can be utilized to create personalized drugs and diagnostics to minimize adverse effects and maximize efficacy. Innovations in genomic-based technologies and analytical approaches have created three specific fields within pharmacogenomics, including SNP discovery, SNP genotyping and diagnostics. Realization of personalized medicine is a long-term goal of pharmacogenomics, however, there are several more immediate factors that will cause the category to expand over the next five years. The near-term trends in pharmacogenomics are dictated by the demands of the drug industry and current economic conditions. These trends will influence the strategies of both existing companies and new companies that emerge over the next five years.

The growth rate in this category will more than double from 2003-2008 with a compound annual growth rate of 22% worldwide. The current worldwide breakdown is estimated for theU.S. at 60%, Europe at 25%, Japan at 10% and the rest of the world at 5%.

For a thorough analysis of this high-growth market, this report:
- analyzes the market drivers and how they will expand the category and increase market share
- thoroughly examines the innovation of personalized drug discovery
- reviews in-depth the market, including segment market projections
- examines the current environment and its effect on the future of pharmacogenomics
- evaluates leading business models and recommends potential business strategies for current marketers as well as new

For a complete index of this report click on http://www.researchandmarkets.com/reports/222282

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