Market Analysis and Insights: Global Pharmacogenetic Testing in Psychiatry/Depression Market 

Pharmacogenetic testing in psychiatry/depression market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 5.7% in the forecast period of 2021 to 2028 and is expected to reach USD 8,654.95 million by 2028 from USD 5,998.88 million in 2020.

Growing prevalence of cancer disease, novel technology in treatment of depression and or other psychiatric conditions, increasing adoption of pharmacogenetic testing in psychiatry/depression devices and procedures and rising preference for non-surgical procedures are the major drivers which propelled the demand of the market in the forecast period.

Pharmacogenetic testing studies the interaction between drug and gene response of individual person and search for the gene variation which is responsible for influencing the drug effect. The test is gaining high demand as many researchers and scientists identified the unique interaction between drug and individual gene and provides valuable insights which subsequently be used to develop customized or personalized medication.

The growing biotechnology sector along with increasing health expenditure has accelerated the demand for pharmacogenetic testing in psychiatry/depression market. The rising awareness towards health along with demand for customized drugs is also propelling the growth of the pharmacogenetic testing in psychiatry/depression market.

The pharmacogenetic testing in psychiatry/depression market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.

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Pharmacogenetic testing in psychiatry/depression Market Country Level Analysis

The pharmacogenetic testing in psychiatry/depression market is analysed and market size information is provided by country, type, genes, drug type, sample, application, end user and distribution channel.

The countries covered in the Pharmacogenetic testing in psychiatry/depression market report are the U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Netherlands, Switzerland, Turkey, Belgium, Rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, South Africa, Saudi Arabia, UAE, Egypt, Israel and Rest of Middle East and Africa, Brazil, Argentina and Rest of South America.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.

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Global Pharmacogenetic testing in psychiatry/depression Market Scope and Market Size

Global pharmacogenetic testing in psychiatry/depression market is categorized into seven notable segments which are based on the type, genes, drug type, sample, application, end user and distribution channel.

·       On the basis of type, the pharmacogenetic testing in psychiatry/depression market is segmented into whole genome sequencing and array-based tests. In 2021, whole genome sequencing segment is expected to dominate the market due to high technological adoption by key players in the market.

·       On the basis of genes, the pharmacogenetic testing in psychiatry/depression market is segmented into CYP2C19, CYP2C9 and VKORC1, CYP2D6, HLA-B, HTR2A/C, HLA-A, CYP3A4, SLC6A4, MTHFR, COMT and others. In 2021, CYP2C19 segment is expected to dominate the market due to increasing influence of genes on medications.

·       On the basis of drug type, the pharmacogenetic testing in psychiatry/depression market is segmented into prescription drugs, over-the-counter medications, recreational drugs and vitamins/nutraceuticals. In 2021, prescription drugs segment is expected to dominate the market due to increasing demand of personalized medicines.

·       On the basis of sample, the pharmacogenetic testing in psychiatry/depression market is segmented into saliva and blood. In 2021, saliva segment is expected to dominate the market because of advanced technologies present in the market.

·       On the basis of application, the pharmacogenetic testing in psychiatry/depression market is segmented into drug development and clinical practice. In 2021, drug development segment is expected to dominate market because of rising demand of precision diagnosis.

·       On the basis of end user, the pharmacogenetic testing in psychiatry/depression market is segmented into pharmaceutical & biotechnology companies, research centers and academic institutes, healthcare providers and others. In 2021, pharmaceutical & biotechnology companies segment is expected to dominate the market because of large number of players present in the market.

·       On the basis of distribution channel, the pharmacogenetic testing in psychiatry/depression market is segmented into hospital pharmacies, retail pharmacies, direct-to-consumer services and mail-order pharmacies. In 2021, hospital pharmacies segment is expected to dominate the market because of increasing demand of customized and precision diagnosis.

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Competitive Landscape and Pharmacogenetic testing in Psychiatry/Depression Market Share Analysis

Pharmacogenetic testing in psychiatry/depression market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Pharmacogenetic testing in psychiatry/depression market.

The major players covered in the report BiogeniQ Inc., GenXys, Genomind, Inc., Myriad Genetics, Inc., AltheaDx, STADA Arzneimittel AG, Sonic Healthcare, ONEOME, Thermo Fisher Scientific Inc., Millennium Health, Coriell Life Sciences, Healthspek, Color, GENELEX, OmeCare, AB-Biotics, S.A., F. Hoffmann-La Roche Ltd, Luminex Corporation, Illumina, Inc., PerkinElmer Inc., HudsonAlpha Health Alliance (a division of HudsonAlpha), Dynamic DNA Laboratories, cnsdose, myDNA Life Australia Pty Ltd., R-Biopharm AG among other domestic and global players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

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Customization Available: Global Pharmacogenetic Testing in Psychiatry/Depression Market 

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.

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