Myriad Genetics, Inc., Thermo Fisher Scientific, Inc. and STADA Arzneimittel AG are Dominating the Global Pharmacogenetics Testing in Psychiatry/Depression Market in 2020

Global Pharmacogenetics Testing in Psychiatry/Depression Market is expected to grow with the CAGR of 4.9% in the forecast period of 2021 to 2028. The years considered for study are as mentioned below.

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Global pharmacogenetics testing in psychiatry/depression market is a highly consolidated market, which includes specific number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenario.

The major players dealing in global pharmacogenetics testing in psychiatry/depression market are introducing strong range of product portfolio. This helped companies to maximize the sales with enhanced product portfolio. For instance, In July 2020, Myriad Genetics, Inc. announced the launch of a home collection kit for patients for the GeneSight Psychotropic Test. The test will help the doctors understand the impact of antidepressants and other drugs related to the same on the genetic makeup of the patient. This will help them administer drugs that will be suitable for their patients improving the outcomes. This will help in the growth of the market in fore coming years.

Myriad Genetics, Inc. is dominating player in the pharmacogenetic testing in psychiatry/depression market. The other key players existing in the market includes BiogeniQ Inc., GenXys, Genomind, 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 others.

Pharmacogenetics Testing in Psychiatry/Depression Market, By DevelopmentsMyriad Genetics, Inc.

Myriad Genetics, Inc. has headquartered in Utah, U.S. was founded in 1991. The company is engaged in the discovery, development, and marketing of transformative molecular diagnostic test. It operates through the diagnostics and other segments (pharmaceutical, biotechnology and medical research industries, research and development, and clinical services for patients), out of which diagnostic is the market focused product portfolio.

  • In July 2020, Myriad Genetics, Inc. announced the launch of a home collection kit for patients for the GeneSight Psychotropic Test. The test will help the doctors understand the impact of antidepressants and other drugs related to the same on the genetic makeup of the patient. This will help them administer drugs that will be suitable for their patients improving the outcomes. This will help in the growth of the market in fore coming years.

The company has presence in North America, South America, Europe, Asia-Pacific, and Middle East & Africa. The company has various subsidiaries that are Assurex Health Inc. (Ohio), Assurex Health Inc. (Utah), Myriad Genetics B.V. (Netherlands), Myriad Genetics Srl (Italy) and Myriad Service Gmbh (Germany), among others.

Thermo Fisher Scientific, Inc.

Thermo Fisher Scientific, Inc. is headquartered in Delaware, U.S, was founded in 1956. The company is the world leader in serving science, delivering an unrivalled combination of innovative technologies, purchasing convenience and pharmaceutical services. The company has multiple product & solution category life sciences, industrial & applied sciences, clinical & diagnostics and lab solutions, life sciences are the market focused category.

  • In May 2019, Thermo Fisher Scientific signed an agreement on acquiring a drug manufacturing site from GlaxoSmithKline plc, situated in Cork, Ireland. This will help in expanding the manufacturing active pharmaceutical ingredients that are complex in nature. These APIs can prove to helpful in treating disorder such as depression. The increase in developmental as well as commercial capabilities will help in the growth of the market in the coming years.

The company has wide presence across North America, South America, Europe, Asia-Pacific and Middle East & Africa.

STADA Arzneimittel AG

STADA Arzneimittel AG headquartered in Bad Vilbel, Germany was founded in year 1953. The company is engaged in the provision of healthcare and pharmaceutical products. It has an extensive product portfolio in pharmaceuticals, drugs and diagnostic tests. The company has multiple business segment that is imaging, generics and branded products out of which branded products is the market focused segment. The offers wide range of product in various categories such as breast cancer follow-up, statins, stroke prophylaxis, antidepressants, drug tolerance, service out of which antidepressants is market focused category.

  • In March 2017, STADA Arzneimittel AG reported a dosage-response relationship of antidepressants in the treatment of depression. The news article stated that SSRIs, Selective serotonin reuptake inhibitors, has become a primary choice for the treatment of depression. It stated that a flat dosage-response relationship has been established for SSRIs. The DNA testing kits for antidepressants by STADA Diagnostika will be able to further help in validating the effect of antidepressants and their efficacy and has helped drive the growth of the market.

The company has wide presence across North America, Europe, Asia-Pacific, South America, Middle East and Africa with its various subsidiaries such as Stada Egypt Ltd (Egypt), Stada Pharma Cz S.R.O. (Czech Republic), Stada Pharma Services India Private Limited (India), Stada Pharmaceuticals (Asia) Limited (Hong Kong), Stada Pharmaceuticals Australia Pty Limited (Australia), among others.