Pharmacogenetics Testing in Psychiatry/Depression Market Application, Type, Companies, Size, Share Trends, Demand and Growth by 2029
Global Pharmacogenetics Testing in Psychiatry/Depression Market is expected to reach the value of USD 2,133.49 million by 2029, at a CAGR of 9.5% during the forecast period. Anxiety accounts for the largest type segment in the market due to the increasing depression rate among the global population. This market report also covers pricing analysis, patent analysis, and technological advancements in depth.
The consistent PHARMACOGENETICS TESTING IN PSYCHIATRY/DEPRESSION report contains a variety of inhibitors as well as driving forces of the market which are analysed in both qualitative and quantitative approach so that readers and users get precise information and insights about ABC industry. In this marketing report, market overview is given in terms of drivers, restraints, opportunities and challenges where each of this parameter is studied scrupulously. This market research report is generated with the best and advanced tools of collecting, recording, estimating and analysing market data. Being a wide-ranging market research report, PHARMACOGENETICS TESTING IN PSYCHIATRY/DEPRESSION report is sure to help grow the business in several ways.
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Pharmacogenetics Testing in Psychiatry/Depression Market Leading Key Players:
Genelex (Part of Invitae corporation)
Genewiz (Part of Azenta Life Sciences)
MD Labs
BiogeneiQ, Inc.
ONEOME, LLC
Myriad Genetics, Inc.
GenXys
Castle Biosciences, Inc.
PacBio
QIAGEN
Thermo Fisher Scientific Inc.
AB-Biotics.S.A.
Coriell Life Sciences
Eurofins Scientific
Illumina, Inc.
Dynamic DNA Laboratories
STADAPHARM GmbH
Color Health, Inc.
Cnsdose
Genomind, Inc.
Healthspek
myDNA Life Australia Pty Ltd.
HudsonAlpha
Sonic Healthcare Limited
The comprehensive PHARMACOGENETICS TESTING IN PSYCHIATRY/DEPRESSION business report provides key statistics on the market status of the global and regional manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry. The report reveals the nature of demand for the firm’s product to know if the demand for the product is constant or seasonal. With this market survey report not only an unskilful individual but also a professional can easily extrapolate the entire market within a few seconds. TOC, graphs, and tables included in the winning PHARMACOGENETICS TESTING IN PSYCHIATRY/DEPRESSION report helps understand the market size, share, trends, growth drivers and market opportunities and challenges.
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Global Pharmacogenetics Testing in Psychiatry/Depression Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:
Drivers
Increase in the number of patients suffering from psychiatric and depression disorder
Depression is a common illness worldwide, with an estimated 3.8% of the population affected, including 5.0% among adults and 5.7% among adults older than 60 years. Depression can become a serious health condition of mild to extreme severity, affecting the person to suffer greatly and can lead to suicide in the worst cases. Although over 45 antidepressants are available, suboptimal response poses a challenge and is considered a result of genetic variation, psychiatry/depression. Depending on the severity and pattern of depressive episodes over time, healthcare providers may offer psychological diagnosis such as behavioral activation, cognitive behavioral therapy, interpersonal psychotherapy, and/or antidepressant medication such as selective serotonin reuptake inhibitors (SSRIs) and tricyclic antidepressants (TCAs). Different drugs are used for this kind of mental disorder.
With the growth in the prevalence of depression, the demand for pharmacogenetics testing is also increasing as it studies the effect of genetic variants intending to furnish tailored diagnosis. The market is expected to grow in foresting period.
Rise in demand for personalized and precision medicine
Pharmacogenetics test aids the medical professional in choosing the best medicine for the person because the test searches for the gene variant that may be responsible for influencing the effect of the drug.
Medicine is becoming personal, and patients gradually express interest in improved outcomes and less adverse effects with personalized medications. Personalized medicine has the potential to tailor the therapy with a high safety margin and the best response. This trend is largely driven by genome sequencing improvements.
The move toward personal healthcare means changes in the manufacturing of medicines. Manufacturers are moving from creating small molecules to the combination of small molecule and gene therapies. Sponsors focus on replacing inefficient large-scale batch production with investment in new technology and producing personalized drugs.
Restraint
Lack of skilled medical and genomic expert
Most clinicians still lack confidence in pharmacogenetic (PGx) testing and subsequent data interpretation, indicating insufficient knowledge in this field. It emphasizes the need to improve literacy among healthcare professionals regarding expertise in and understanding of pharmacogenetic (PGx) testing.
Lack of practitioners awareness about the possibilities of pharmacogenetics and poor or insufficient explanation of the test results also reduce personalization technologies for patients. In addition to developing thematic training courses at medical universities, including the educational cycles in continuing professional education systems, and free placement of information for practicing doctors are required: academic internet portals, webinars, etc. A clinical pharmacologist plays a crucial role in the implementation of pharmacogenetic testing.
The competence of a clinical pharmacologist in the field of pharmacogenetics is critical: he or she is the one who organizes the application of genotyping in clinical practice, interprets tests, and informs doctors about the possibilities of pharmacogenetics for patients with specific nosologies, that is, acts as the main link between the scientific world, the healthcare system and practicing physicians in the process of introducing pharmacogenetics.
Opportunity
Rising advancements in technology
Advances in pharmacogenomics have introduced an increasing number of opportunities to bring personalized medicine into clinical practice for psychiatric disorders. Personalized medicine may be defined as a comprehensive, prospective approach to preventing, diagnosing, treating, and monitoring disease in ways that achieve optimal individual health care decisions. Over 100 medications now contain United States Food and Drug Administration (FDA) labelling related to potentially applicable pharmacogenomic biomarkers with technological advancements in healthcare. Also, new and advanced methods are being developed to promote pharmacogenetics testing in depression-like disorders. These tests use advanced genetic testing methods to give precise results to form a treatment regimen. The improvements in technology supporting tests improved accessibility of testing options, and the growing number of resources that help clinicians understand how to use this information when it is available are making this aspect of personalized or precision medicine a reality. Thus, providers need to become more aware of the scientific and clinical relevance of pharmacogenomic tests.
The tests also help to establish a meaningful relationship between a drug and the individual genetic makeup. This helps in deciding the drugs to be administered to the patient to treat major depressive disorders and other psychiatric conditions.
Challenge
Strict government regulation on new products and instruments approval
The concerns regarding the efficacy and safety of products have caused most governments to develop regulatory agencies and policies to look after the development of new medical products or tests. The use of these medical products can be done after passing stringent regulatory standards, which ensure the product is safe, well studied, and has no adverse reactions.
The recent guidelines and the amendment have adequate guidance for manufacturers. International regulations such as food, drug, and administration play a major role in the new launch of medical products or tests into the market. Thus, it can be a major restraint for the market. Therefore, strict government regulation on new products and instrument approval will likely impact the market.
Global Pharmacogenetics Testing in Psychiatry/Depression Market Scope and Market Size
The Pharmacogenetics Testing in Psychiatry/Depression Market is segmented into type, test type, gene type, patient type, product, end user, and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
Global Pharmacogenetics Testing In Psychiatry/Depression Market, By Type
Anxiety
Mood Disorders
Depression
Bipolar Disorders
Psychotic Disorders
Eating Disorders
On the basis of type, global pharmacogenetics testing in psychiatry/depression market is segmented into anxiety, mood disorders, depression, bipolar disorders, psychotic disorders, and eating disorders.
Global Pharmacogenetics Testing In Psychiatry/Depression Market, By Test Type
Whole Genome Sequencing
Chromosomal Array-Based Tests
On the basis of test type, global pharmacogenetics testing in psychiatry/depression market is segmented into whole genome sequencing, and chromosomal array-based tests.
Global Pharmacogenetics Testing In Psychiatry/Depression Market, By Gene Type
CYP2C19
CYP2C9 AND VKORC1
CYP2D6
HLA-B
HTR2A/C
HLA-A
CYP3A4
SLC6A4
MTHFR
COMT
OTHERS
On the basis of gene type, global pharmacogenetics testing in psychiatry/depression market is segmented into CYP2C19, CYP2C9, VKORC1, CYP2D6, HLA-B, HTR2A/C, HLA-A, CYP3A4, SLC6A4, MTHFR, COMT, and others.
Global Pharmacogenetics Testing In Psychiatry/Depression Market, By Patient Type
Child
Adult
Geriatric
On the basis of patient type, the global pharmacogenetics testing in psychiatry/depression market is segmented into children, adults, and geriatrics.
Global Pharmacogenetics Testing In Psychiatry/Depression Market, By Product
Instruments
Consumable
Software & Services
On the basis of product type, global pharmacogenetics testing in psychiatry/depression market is segmented into instruments, consumables, and software & services.
Global Pharmacogenetics Testing In Psychiatry/Depression Market, By End User
Hospitals & Clinics
Dignostics Laboratories
Academic And Research Institutes
Others
On the basis of end user, global pharmacogenetics testing in psychiatry/depression market is segmented into hospitals and clinics, diagnostics laboratories, academic and research institutes, and others.
Global Pharmacogenetics Testing in Psychiatry/Depression Market, By Distribution Channel
Direct Tender
Third-Party Distribution
Hospital Pharmacy
Others
Pharmacogenetics Testing in Psychiatry/Depression Market Country Level Analysis
The Pharmacogenetics Testing in Psychiatry/Depression Market is analyzed and market size insights and trends are provided by country, type, deployment and end user pas referenced above.
The countries covered in the Pharmacogenetics Testing in Psychiatry/Depression Market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the Pharmacogenetics Testing in Psychiatry/Depression Market because of the presence of favorable regulatory scenario and high adoption of HCIT solutions within the region. Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the presence of a large number of healthcare IT companies in the region.
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 consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis 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 domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Table of Content:
Pharmacogenetics Testing in Psychiatry/Depression Market Introduction
Pharmacogenetics Testing in Psychiatry/Depression Market Research Scope
Pharmacogenetics Testing in Psychiatry/Depression Market Segmentation
Pharmacogenetics Testing in Psychiatry/Depression Market Research Methodology
Pharmacogenetics Testing in Psychiatry/Depression Market Definitions and Assumptions
Pharmacogenetics Testing in Psychiatry/Depression Market Executive Summary
Pharmacogenetics Testing in Psychiatry/Depression Market Dynamics
Pharmacogenetics Testing in Psychiatry/Depression Market Drivers
Pharmacogenetics Testing in Psychiatry/Depression Market Restraints
Pharmacogenetics Testing in Psychiatry/Depression Market Opportunities
Pharmacogenetics Testing in Psychiatry/Depression Market Key Insights
Pharmacogenetics Testing in Psychiatry/Depression Market Impact of COVID-19
Pharmacogenetics Testing in Psychiatry/Depression Market Key Findings / Summary
Continued…
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Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The Pharmacogenetics Testing in Psychiatry/Depression Market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for Pharmacogenetics Testing in Psychiatry/Depression Market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the Pharmacogenetics Testing in Psychiatry/Depression Market. The data is available for historic period 2010-2020.
Competitive Landscape and Pharmacogenetics Testing in Psychiatry/Depression Market Share Analysis
The Pharmacogenetics 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, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Pharmacogenetics Testing in Psychiatry/Depression Market.
Report Coverage:
Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
Comprehensive insights into the regional developments.
List of major industry players.
Key strategies adopted by the market players.
Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Why buy this report?
The report offers a comprehensive evaluation of the Global & Regional Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
The report includes an in-depth market analysis using Porter’s 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
The report also contains the competitive analysis using Positioning Quadrants, the analyst’s Proprietary competitive positioning tool.
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