Revolutionary Mental Health: Leading Pharmacogenetics Test Drives Psychiatry/Depression Market at CAGR of 9.5% during Forecast Period to 2029

Market research performed in the wide ranging Pharmacogenetics Testing in Psychiatry-Depression business report puts a light on the challenges, market structures, opportunities, driving forces, and competitive landscape for the business. This market research report brings into picture comprehensive analysis of the market structure along with estimations of the various segments and sub-segments of the market for ABC industry. A thorough market study and investigation of trends in consumer and supply chain dynamics covered in this report helps businesses draw the strategies about sales, marketing, and promotion. Pharmacogenetics Testing in Psychiatry-Depression is a professional and a meticulous market report which underlines primary and secondary drivers, market share, leading segments and geographical analysis.

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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.

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Market Overview:

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.

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

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