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Global Pharmacogenetics Testing in Psychiatry/Depression Market – Industry Trends and Forecast to 2029

  • Medical Devices
  • Published Report
  • Sep 2022
  • Global
  • 350 Pages
  • No of Tables: 977
  • No of Figures: 78
  • Medical Devices
  • Published Report
  • Sep 2022
  • Global
  • 350 Pages
  • No of Tables: 977
  • No of Figures: 78

Global Pharmacogenetics Testing in Psychiatry/Depression Market, By Type (Anxiety, Mood Disorders, Depression, Bipolar Disorders, Psychotic Disorders, and Eating Disorders), Test Type (Whole Genome Sequencing, and Chromosomal Array-Based Tests), Patient Type (Children’s, Adults, and Geriatric), Gene Type (CYP2C19, CYP2C9, VKORC1, CYP2D6, HLA-B, HTR2A/C, HLA-A, CYP3A4, SLC6A4, MTHFR, COMT, and Others), Products (Instruments, Consumables, Software & Services), End User (Hospitals and Clinics, Diagnostics Laboratories, Academic and Research Institutes, and Others), Distribution Channel (Direct Tender, Third Party Distribution Hospital Pharmacy, and Others) – Industry Trends and Forecast to 2029

Pharmacogenetics Testing in Psychiatry/Depression Market

Pharmacogenetics Testing in Psychiatry/Depression Market Analysis and Insights

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 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.

Pharmacogenetics Testing in Psychiatry/Depression Market

Pharmacogenetics Testing in Psychiatry/Depression Market

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 for 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 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.

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Global Pharmacogenetics Testing in Psychiatry/Depression Market, By Application (Novel Drug Candidates, Drug Optimization & Repurposing Preclinical Testing and Approval, Drug Monitoring, Finding New Diseases Associated Targets and Pathways, Understanding Disease Mechanisms, Aggregating and Synthesizing Information, Formation & Qualification of Hypotheses, De Novo Drug Design, Finding Drug Targets of an Old Drug, and Others), Technology (Machine Learning, Deep Learning, Natural Language Processing, and Others), Drug Type (Small Molecule, and Large Molecule), Offering (Software, and Services), Indication (Immuno-Oncology, Neurodegenerative Diseases, Cardiovascular Diseases, Metabolic Diseases, and Others), End Use (Contract Research Organizations (CROs), Pharmaceutical & Biotechnology Companies, Research Centers and Academic Institutes, and Others)

Countries Covered

U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, Turkey, Netherlands, Switzerland, Hungary, Austria, Lithuania, Ireland, Norway, Poland, and Rest of the Europe, China, Japan, India, South Korea, Singapore, Thailand, Malaysia, Australia, Vietnam, Philippines, Indonesia and Rest of the Asia-Pacific, UAE, Israel, South Africa, Egypt, Kuwait and Rest of the Middle East and Africa, Brazil, Argentina, Peru and Rest of South America

Market Players Covered

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, among others.

Global Pharmacogenetics Testing in Psychiatry/Depression Market Definition

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.

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.

Pharmacogenetics Testing in Psychiatry/Depression Market

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.

Post-COVID-19 Impact on Global Pharmacogenetics Testing in Psychiatry/Depression Market

The COVID-19 outbreak had a beneficial impact on the expansion of the pharmacogenetics testing industry. The pandemic has had a negative impact on the pharmacogenomics market growth on account of the temporary halt in research activities in this field, coupled with the low influx of patients in hospitals and diagnostic centers. Since the second half of 2020, with the rising demand for research on certain drugs and testing kits for COVID-19, pharmacogenomic practices have been in vogue.

Manufacturers are making various strategic decisions to bounce back post-COVID-19. The players are conducting multiple R&D activities, product launches, and strategic partnerships to improve the technology and test results involved in the pharmacogenetics testing market.

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

Global Pharmacogenetics Testing in Psychiatry/Depression Market Scope

Global 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

On the basis of distribution channel, the global pharmacogenetics testing in psychiatry/depression market is segmented into direct tender, third-party distribution hospital pharmacies, and others.

Global Pharmacogenetics Testing in Psychiatry/Depression Market Regional Analysis/Insights

The global pharmacogenetics testing in psychiatry/depression market is analyzed, and market size information is provided by the type, test type, gene type, patient type, product, end user, and distribution channel.

The countries covered in this market report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, Turkey, Netherlands, Switzerland, Hungary, Austria, Lithuania, Ireland, Norway, Poland, and the rest of Europe, China, Japan, India, South Korea, Singapore, Thailand, Malaysia, Australia, Vietnam, Philippines, Indonesia and rest of Asia-Pacific, UAE, Israel, South Africa, Egypt, Kuwait and rest of the Middle East and Africa, Brazil, Argentina, Peru and, rest of South America.

  • In 2022, North America is dominating due to the presence of key market players in the largest consumer market with high GDP. The U.S is expected to grow due to the rise in technological advancement in pharmacogenetics testing.

North America is dominating the market. The increasing investment in R&D and increasing adoption of pharmacogenetics testing as an option for formulating treatment regimens is expected to boost the market growth. The U.S. dominates the North American region due to the strong presence of advanced technology providers such as Eurofins Scientific, Illumina, Inc., and others. The U.K. dominates Europe due to the increasing demand from emerging markets and the expansion of pharmaceutical industries. China dominates the Asia-Pacific region due to increased healthcare expenditure.

Pharmacogenetics Testing in Psychiatry/Depression Market

The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact 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, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, and the impact of sales channels are considered while providing forecast analysis of the country data.

Competitive Landscape and Global Pharmacogenetics Testing in Psychiatry/Depression Market Share Analysis

Global pharmacogenetics testing in psychiatry/depression market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, 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 on global pharmacogenetics testing in psychiatry/depression market.

Some of the major players operating in the global 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 Health, Inc.

  • Cnsdose

  • Genomind, Inc.

  • Healthspek

  • myDNA Life Australia Pty Ltd.

  • HudsonAlpha

  • Sonic Healthcare Limited

Research Methodology: Global Pharmacogenetics Testing In Psychiatry/Depression Market

Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include the Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional, and Vendor Share Analysis. Please request an analyst call in case of further inquiry.

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Frequently Asked Questions

The Pharmacogenetics Testing in Psychiatry/Depression Market is projected to grow at a CAGR of 9.5% during the forecast period by 2029.
The future market value of the Pharmacogenetics Testing in Psychiatry/Depression Market is expected to reach USD 2,133.49 million by 2029.
The major players in the 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, etc.
The countries covered in the Pharmacogenetics Testing in Psychiatry/Depression Market are 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, etc.

Browse Related Reports

Asia Pacific Pharmacogenetics Testing in Psychiatry/Depression Market – Industry Trends and Forecast to 2029

Europe Pharmacogenetics Testing in Psychiatry/Depression Market – Industry Trends and Forecast to 2029

Middle East and Africa Pharmacogenetics Testing in Psychiatry/Depression Market – Industry Trends and Forecast to 2029

North America Pharmacogenetics Testing in Psychiatry/Depression Market – Industry Trends and Forecast to 2029


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Global Pharmacogenetics Testing in Psychiatry/Depression Market is Expected to grow at 9.4% in the Forecast Period Of 2021 to 2028


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Increase in the Number of Patients Suffering from Psychiatric and Depression Disorder Drive the Demand for Pharmacogenetics Testing in Psychiatry/Depression Market


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