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Pharmacogenomics: an assessment of market conditions and competition.

Pharmacogenomics is the study of how inherited variations in genes dictate a person’s reaction to a drug. Pharmacogenomic (PGx) studies are used to discern an individual’s susceptibility to disease, based on their gene makeup, and enable physicians to identify and rule out patients that will have an adverse reaction to a drug by comparing a drug treatment with a genetic test. Not only do PGx products and services stand to reduce adverse drug reactions, they have the potential to: 1) speed the approval process for drugs, reducing the cost of clinical trials (by using genetic tests to target a defined patient population); 2) reduce the length of time patients are on medication; 3) reduce the number of medications patients must take in order to find an effective therapy; and 4) reduce of the effects of disease in the body through early detection.