North America Pharmacogenetics Testing in Psychiatry/Depression Market is Expected to Reach the Value of USD 981.28 Million by 2029
“ North America Pharmacogenetics Testing in Psychiatry/Depression Market” the new research report added in Data Bridge Market Research’s reports database. This Research Report spread across 220 No of Tables, And 60 No of Figures summarizing Top companies, with tables and figures. Insulin market report presents the best market and business solutions to Insulin industry in this rapidly revolutionizing market place to thrive in the market. This Insulin market research report is a careful investigation of current scenario of the market and future estimations which spans several market dynamics.
Pharmacogenetic testing helps medical professionals by providing information on how a person metabolizes a medication. This information can help doctors and others avoid prescribing antidepressants that could produce undesirable outcomes. Pharmacogenomics has shown promise for predicting antidepressant response and tolerability in treating major depressive disorder (MDD). Pharmacogenomics can improve clinical outcomes by guiding antidepressant selection and dosing. The growing biotechnology sector, and increasing health expenditure, have accelerated the demand for pharmacogenetic testing in psychiatry/depression.
Download PDF Sample Report (Including Graphs, Charts, and List of Figures) @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=north-america-pharmacogenetic-testing-in-psychiatry-depression-market&Shri
The growing prevalence of cancer disease, novel technology in the treatment of depression and or other psychiatric conditions are increasing the adoption of pharmacogenetics testing in psychiatry/depression devices and procedures, and the rising preference for non-surgical procedures are the major drivers which propelled the demand of the market in the forecast period. However, the high cost associated with the tests, stringent regulation, and lack of awareness may expect to hamper the pharmacogenetics testing in psychiatry/depression market growth in the forecast period.
Data Bridge Market Research analyzes that the North America pharmacogenetics testing in psychiatry/depression market is expected to reach the value of USD 981.28 million by 2029, at a CAGR of 9.7% during the forecast period. Anxiety accounts for the largest type segment in the market due to the increasing depression rate among the North American population. This market report also covers pricing analysis, patent analysis, and technological advancements in depth.
Fundamental Aim of this Market Report
- Factors influencing This Market Size and growth rate.
- Major alterations to this market in the near future.
- Notable Market rivals around the world.
- Future Scope and Product Outlook
- Future-promising emerging markets.
- The Market Presents Difficult Challenges and Threats.
Pharmacogenomic testing has recently become scalable and available to guide major depressive disorder (MDD). Clinicians increasingly recognize Pharmacogenomic (PGx) testing as an essential tool to guide medication decisions for psychiatric illnesses. Extensive implementation of PGx testing is driving the market in the forecast period.
The terms personalized medicine, stratified medicine, and precision medicine are close relatives of pharmacogenetics, but these are broader terms that also cover additional non-genetic factors. Nevertheless, pharmacogenetics is an important component of these areas. Pharmacogenetics is primarily concerned with human germline DNA variation, but there have also been important recent advances in understanding mood disorders, and mental illnesses.
Pharmacogenetics testing studies the interaction between drug and gene response of a person and searches 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 drugs and individual genes and provides valuable insights which subsequently be used to develop customized or personalized medication.
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 beginning to get personal, and patients are gradually expressing 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.
Some of the major players operating in the North America pharmacogenetics testing in psychiatry/depression market are
- 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
- Cnsdose
- Genomind, Inc.
- Healthspek
- myDNA Life Australia Pty Ltd.
- HudsonAlpha
- Sonic Healthcare Limited
To Gain More Insights into the Market Analysis, Browse the Summary of the Research Report@ https://www.databridgemarketresearch.com/reports/north-america-pharmacogenetic-testing-in-psychiatry-depression-market?Shri
Recent Developments
- In April 2022, Blue Care Network (BCN) launched a precision medicine program, Blue Cross Personalized Medicine, which leverages pharmacogenomics, or genetic testing, to personalize and tailor medication treatments more effectively for select members based on a review of their prescribed medications for various diagnosis including behavioral health, cardiology, cardiovascular, and oncology. OneOme LLC has helped BCN achieve its precision medicine program goals and reduce the total cost of care and improve patient health outcomes by reducing adverse drug reactions. This has helped the company to enhance its product portfolio.
- In February 2022, PacBio, a leading provider of high-quality, highly accurate sequencing platforms, announced that it is supporting The Hospital for Sick Children (SickKids) in Toronto, Canada, in using HiFi whole genome sequencing (HiFi WGS) to potentially identify genetic variants that may be associated with medical and developmental conditions. Samples that are examined using HiFi WGS were previously sequenced using short-read DNA sequencing technology but still lack the identification of a disease-causing variant. This has helped the company to enhance the use of its products.
- In July 2022, according to a new nationwide study of nearly 2,000 veterans conducted by the U.S. Department of Veterans Affairs (VA), and Major Depressive Disorder (MDD) remission rates were significantly improved when clinicians had access to GeneSight Psychotropic test results from Myriad Genetics, Inc. in largest ever mental health PGx randomized controlled trial. This has helped the company to show its progress in pharmacogenetic testing.
- In January 2021, myDNA Life Australia Pty Ltd, announced a merger with the U.S., Houston-based consumer DNA test company, FamilyTreeDNA, and its parent company, Gene by Gene, for revolutionizing the field of pharmacogenomics, making truly personalized medicine a reality before expanding into nutrigenomics to deliver actionable, personalized nutrition, fitness and skincare recommendations. This has helped the company to expand its business.
Key highlights of this Market report:
- Growth rate
- Remuneration prediction
- Consumption graph
- Market concentration ratio
- Secondary industry competitors
- Competitive structure
- Major restraints
- Market drivers
- Regional bifurcation
- Competitive hierarchy
- Current market tendencies
- Market concentration analysis
What benefits does the DBMR study is going to provide?
- Latest industry influencing trends and development scenario
- Open up New Markets
- To Seize powerful market opportunities
- Key decision in planning and to further expand market share
- Identify Key Business Segments, Market proposition & Gap Analysis
- Assisting in allocating marketing investments
North America Pharmacogenetics Testing in Psychiatry/Depression Market Scope
North America 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.
- North America Pharmacogenetics Testing In Psychiatry/Depression Market, By Type
- Anxiety
- Mood Disorders
- Depression
- Bipolar Disorders
- Psychotic Disorders
- Eating Disorders
On the basis of type, North America pharmacogenetics testing in psychiatry/depression market is segmented into anxiety, mood disorders, depression, bipolar disorders, psychotic disorders, and eating disorders.
- North America Pharmacogenetics Testing In Psychiatry/Depression Market, By Test Type
- Whole Genome Sequencing
- Chromosomal Array-Based Tests
On the basis of test type, North America pharmacogenetics testing in psychiatry/depression market is segmented into whole genome sequencing, and chromosomal array-based tests.
- North America 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, North America 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.
- North America Pharmacogenetics Testing In Psychiatry/Depression Market, By Patient Type
- Child
- Adult
- Geriatric
On the basis of patient type, the North America pharmacogenetics testing in psychiatry/depression market is segmented into children, adults, and geriatrics.
- North America Pharmacogenetics Testing In Psychiatry/Depression Market, By Product
- Instruments
- Consumables
- Software & Services
On the basis of product type, North America pharmacogenetics testing in psychiatry/depression market is segmented into instruments, consumables, and software & services.
- North America Pharmacogenetics Testing In Psychiatry/Depression Market, By End User
- Hospitals & Clinics
- Dignostics Laboratories
- Academic And Research Institutes
- Others
On the basis of end user, North America pharmacogenetics testing in psychiatry/depression market is segmented into hospitals and clinics, diagnostics laboratories, academic and research institutes, and others.
- North America Pharmacogenetics Testing In Psychiatry/Depression Market, By Distribution Channel
- Direct Tender
- Third-Party Distribution
- Hospital Pharmacy
- Others
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Market Regulations
- Market Overview
Continued…
Browse Detailed Summary of Research Report with TOC: https://www.databridgemarketresearch.com/toc/?dbmr=north-america-pharmacogenetic-testing-in-psychiatry-depression-market&Shri
Key Benefits of the Report:
- This study presents the analytical depiction of this industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of this market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed this industry analysis based on competitive intensity and how the competition will take shape in the coming years.
Top DBMR Healthcare Reports:
https://www.databridgemarketresearch.com/reports/global-cardasil-treatment-market?Shri
https://www.databridgemarketresearch.com/reports/global-aestheticcosmetic-lasers-market?Shri
https://www.databridgemarketresearch.com/reports/global-yeast-infection-market?Shri
About Data Bridge Market Research:
An absolute way to forecast what future holds is to comprehend the trend today!
Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavours to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process. Data Bridge is an aftermath of sheer wisdom and experience which was formulated and framed in the year 2015 in Pune.
Data Bridge Market Research has over 500 analysts working in different industries. We have catered more than 40% of the fortune 500 companies globally and have a network of more than 5000+ clientele around the globe. Data Bridge adepts in creating satisfied clients who reckon upon our services and rely on our hard work with certitude. We are content with our glorious 99.9 % client satisfying rate.
Contact Us:-
Data Bridge Market Research
US: +1 888 387 2818
UK: +44 208 089 1725
Hong Kong: +852 8192 7475
Editor Details
-
Company:
- The Wire Times
