Pharmacogenetic Testing Market to Show Phenomenal Growth Forecast to 2026| Sonic Healthcare, Genelex, GENEWIZ, Rxight, OneOme, LLC, Mako Medical Laboratories, LLC

Global Pharmacogenetic Testing Market research report encompasses a methodical investigation of current scenario of the global market, which covers several market dynamics. This report provides CAGR value fluctuations during the forecast period of 2029-2026 for the market. The study and analysis conducted in this Pharmacogenetic Testing Market business document also helps to figure out types of consumers, their views about the product, their buying intentions and their ideas for advancement of a product. The Global Pharmacogenetic Testing Market business document helps business in knowing its market share over various time periods, transportation, storage, and supply requirements of its products. The report gives helpful insights which assist while launching a new product.

The global pharmacogenetic testing market is expected to register a substantial CAGR in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the need for identifying the influence of medicines on genes.

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Global Pharmacogenetic Testing Market By Type (Single Gene Tests, Array-Based Tests, Whole Genome Sequencing & NGS, Whole Exome Sequencing), Sample (Blood, Saliva), Therapeutic Area (Oncology, Neurology, Cardiology, Genomics, Immunology & Hypersensitivity, Others), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Mail-Order Pharmacies, Direct-To-Customer Services), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026

Few of the major competitors currently working in the global pharmacogenetic testing market 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.; PerkinElmer Inc. among others.

Market Definition:

Pharmacogenetic testing is a diagnostic procedure used for the determination of drug and an individual’s genetic make-up interaction. This test is experiencing high demand as various scientists and researchers have identified the unique reactions between each individuals’ genes and drugs which has resulted in the development of a unique test which can record this interaction and provide valuable insights which is subsequently used for the development of personalized therapeutics.

Market Drivers

• Favorable scenario of reimbursement for these tests from the insurance providers is expected to propel the growth of the market

• Increasing demand for personalized therapeutic system and diagnostic tests is expected to drive the growth of the market

• High levels of healthcare expenditure being incurred on adoption of advanced testing methods and therapeutics from the developed regions of the world; this factor is expected to boost the growth of the market

Market Restraints

• Lack of clinical evidence regarding the effectiveness and utility benefits associated with the tests is expected to hinder the growth of the market

• Lack of skilled individuals that can conduct and provide valuable insights from the test results is expected to act as a restraint for the growth of the market

• Large levels of financial costs associated with these tests is expected to restrict the growth of the market

Table of Content: Global Pharmacogenetic Testing Market

Part 01: Executive Summary
Part 02: Scope of The Report
Part 03: Global Pharmacogenetic Testing Market Landscape
Part 04: Global Pharmacogenetic Testing Market Sizing
Part 05: Global Pharmacogenetic Testing Market Segmentation By Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers And Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis

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Segmentation:

By Type

• Single Gene Tests
• Array-Based Tests
• Whole Genome Sequencing & NGS
• Whole Exome Sequencing

By Sample

• Blood
• Saliva

By Therapeutic Area

• Oncology
• Neurology
• Cardiology
• Genomics
• Immunology & Hypersensitivity
• Others

By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Mail-Order Pharmacies
• Direct-To-Customer Services

By Geography

• North America
• Europe
• Asia-Pacific
• South America
• Middle East and Africa

Key Developments in the Market:

• In January 2019, 23andMe, Inc. announced the availability of pharmacogenomics test which will be commercially available without the need for any prescriptions. This test will help provide patients and physicians with better knowledge and identification services into genes of an individual. Although, FDA has approved this test they have also issued a statement regarding not basing their treatment options on the test results

• In May 2017, Oxford Gene Technology announced that had agreed to be acquired by Sysmex Corporation. This acquisition will allow for complete integration of Oxford’s genetic analysis technologies and expertise which will help enhance the position of Sysmex Corporation globally. Oxford Gene Technology will operate as a wholly-owned subsidiary of Sysmex

Competitive Analysis:

Global pharmacogenetic testing market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of the pharmacogenetic testing market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Reasons to Purchase this Report

• Current and future of global pharmacogenetic testing market outlook in the developed and emerging markets

• The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period

• Regions/Countries that are expected to witness the fastest growth rates during the forecast period

• The latest developments, market shares, and strategies that are employed by the major market players

Customization of the Report:

• All segmentation provided above in this report is represented at country level

• All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)

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