Global Pharmacogenetic Testing Market, By Type (Single Gene Tests, Array-Based Tests, Whole Genome Sequencing and NGS and Whole Exome Sequencing), Sample (Blood and Saliva), Therapeutic Area (Oncology, Neurology, Cardiology, Genomics, Immunology and Hypersensitivity, and Others), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Mail-Order Pharmacies, and Direct-To-Customer Services), and Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of the Middle East and Africa) Industry Trends and Forecast to 2028.
The pharmacogenetic testing market is expected to witness market growth at a rate of 8.70% in the forecast period of 2021 to 2028. Data Bridge Market Research report on the pharmacogenetic testing market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in the levels of healthcare expenditure is escalating the growth of the pharmacogenetic testing market.
A pharmacogenetic test, which is also referred to as the drug-gene test, is utilized to study and determine the interactions of drugs and the genetic make-up of the individual. It has been observed that several people react differently with drugs depending upon the expression of the genes induced by the drug.
Major factors that are expected to boost the growth in the pharmacogenetic testing market in the forecast period are the rise in the aging population. Furthermore, the increase in the acceptance of the pharmacogenomics procedure by healthcare professionals and the rising alertness of the patient population towards personalized therapy is further anticipated to propel the growth of the pharmacogenetic testing market. Moreover, the rise in the incidence of chronic diseases like cancer, tuberculosis, HIV, and others is further estimated to cushion the growth of the pharmacogenetic testing market. On the other hand, the rise in the price regarding the tests and lack of funding for the research and development of different pharmacogenomics pathways is further projected to impede the growth of the pharmacogenetic testing market in the timeline period.
In addition, the technological developments regarding the molecular diagnostics procedure for a better understanding of the genetic structure of the individual patients would further provide potential opportunities for the growth of the pharmacogenetic testing market in the coming years. However, the lack of skilled and highly trained healthcare professionals in performing the pharmacogenomics diagnostics test might further challenge the growth of the pharmacogenetic testing market in the near future.
This pharmacogenetic testing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the pharmacogenetic testing market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.
Pharmacogenetic Testing Market Scope and Market Size
The pharmacogenetic testing market is segmented on the basis of type, sample, therapeutic area, and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with valuable market overview and market insights to help them in making strategic decisions for the identification of core market applications.
- On the basis of type, the pharmacogenetic testing market is segmented into single-gene tests, array-based tests, whole-genome sequencing, and NGS and whole-exome sequencing.
- On the basis of the sample, the pharmacogenetic testing market is segmented into blood and saliva.
- On the basis of therapeutic area, the pharmacogenetic testing market is segmented into oncology, neurology, cardiology, genomics, immunology and hypersensitivity, and others.
- On the basis of distribution channels, the pharmacogenetic testing market is segmented into hospital pharmacies, retail pharmacies, mail-order pharmacies, direct-to-customer services.
Pharmacogenetic Testing Market Country Level Analysis
The pharmacogenetic testing market is analyzed, and market size insights and trends are provided by country, type, sample, therapeutic area, and distribution channel as referenced above.
The countries covered in the pharmacogenetic testing 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 the Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA), Brazil, Argentina and rest of South America as part of South America.
The Americas dominates the pharmacogenetic testing market due to the well-developed healthcare sector. Furthermore, the occurrence of the advanced countries would further boost the growth in the pharmacogenetic testing market in the region during the forecast period. Asia-Pacific is projected to observe a significant amount of growth in the pharmacogenetic testing market due to the occurrence of a huge patient population. Moreover, the rise in the incidence of the advanced countries is further anticipated to propel the growth of the pharmacogenetic testing market in the region in the coming years.
The country section of the pharmacogenetic testing market 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 consumption volumes, production sites, and volumes, import-export analysis, price trend analysis, cost of raw materials, downstream and upstream value chain analysis 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, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The pharmacogenetic testing market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the pharmacogenetic testing market, the impact of technology using lifeline curves, and changes in healthcare regulatory scenarios and their impact on the pharmacogenetic testing market. The data is available for the historical period 2010-2019.
Competitive Landscape and Pharmacogenetic Testing Market Share Analysis
The pharmacogenetic testing market competitive landscape provides details by the 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 the pharmacogenetic testing market.
The major players covered in the pharmacogenetic testing market report are Sonic Healthcare, Genelex, GENEWIZ, Rxight; 23andMe, Inc., PGXT, OneOme, LLC, Mako Medical Laboratories, LLC, Myriad Genetics, Inc., Bayer AG, BGI, Pacific Biosciences of California, Inc., F. Hoffmann-La Roche Ltd, QIAGEN, Luminex Corporation, Eurofins Scientific, Illumina, Inc., Thermo Fisher Scientific Inc. and PerkinElmer Inc. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.