Prominent Pharmacogenetic Testing Market Trend for 2025: Advancements In Prescription-Based Pharmacogenetic Testing

What Are the Projected Growth and Market Size Trends for the Pharmacogenetic Testing Market?
In recent years, the pharmacogenetic testing market scale has been expanding swiftly. The forecast predicts an increase from $12.37 billion in 2024 to $14.35 billion in 2025, manifesting a compound annual growth rate (CAGR) of 16.1%. Factors contributing to the growth during the historic period include heightened drug efficiency, the rising popularity of personalized medicine, the escalating demand for precision diagnosis, enhanced attention on pharmacogenetic testing, and climbing medical costs.

The market for pharmacogenetic testing is anticipated to experience a swift expansion in the upcoming years. The market is projected to reach $25.77 billion by 2029, growing at a compound annual growth rate (CAGR) of 15.8%. This predicted growth over the forecast period is credited to the increase in biotechnology and healthcare-related research and development, boost in healthcare spending, escalating incidences of chronic illnesses, improved access, and the rise of telemedicine and digital health. Emerging trends expected during the forecast period include pharmacogenetic testing, progress in genomic technologies, technological innovations, advancements in companion diagnostics, and inventive diagnostic tests.

What Is Driving the Growth Trajectory of the Pharmacogenetic Testing Market?
The surge in demand for personalized medicine is set to boost the expansion of the pharmacogenetic testing market. Personalized or precision medicine constitutes a healthcare method that customizes decisions and treatments in alignment with the unique attributes of each patient. The escalation in personalized medicine is due to various factors including enhanced treatment results, a focus on prevention and early detection, and cost-efficiency. Pharmacogenetic testing plays a crucial role in personalized medicine by studying a person's genetic composition to anticipate their reaction to specific medications. This allows healthcare professionals to customize treatments based on genetic determinants, maximizing drug performance and minimizing adverse effects. For example, in February 2024, as per the Personalized Medicine Coalition, a non-profit organization based in the USA, the FDA authorized 16 new personalized therapies for patients suffering from rare diseases in 2023, an increase from six in 2022. Hence, the rising demand for personalized medicine is fueling the growth of the pharmacogenetic testing market.

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Which Leading Companies Are Shaping the Growth of the Pharmacogenetic Testing Market?
Major companies operating in the pharmacogenetic testing market are CVS Health Corporation, Thermo Fisher Scientific Inc., Quest Diagnostics Incorporated, Eurofins Scientific Inc., Bio-Rad Laboratories, Precision Medicine Advsiors, Azenta Life Sciences, Fulgent Genetics, Pacific Biosciences of California Inc., Castle Biosciences, 23andMe Holding Co., Helix Inc., Genomind Inc., MD Labs, Sonic Genetics, AutoGenomics Inc., LabClinics SA, Gene By Gene Ltd., Xcode Life Sciences, YouScript, RxGenomix LLC

What Are the Major Trends Shaping the Pharmacogenetic Testing Market?
Leading firms in the pharmacogenetics testing market are spearheading the development of innovative pharmacogenomics testing services, like prescription-tailored pharmacogenetic testing, to solidify their market dominance. This type of testing is a specific genetic analysis done at the behest of healthcare professionals before drafting medication prescriptions, with the aim of understanding a patient's genetic structure. Take for example, UCSF, an American healthcare corporation, which in May 2023 unveiled its unique pharmacogenomics testing service. The purpose of this service is to augment the exactitude of medical interventions. By utilizing UCSF's pharmacogenomics testing service, health professionals are able to customize their drug treatments to an individual's genetic makeup thereby bolstering drug effectiveness, curtailing negative reactions, and facilitating the implementation of personalized medicine initiatives.

What Are the Key Segments of the Pharmacogenetic Testing Market?
The pharmacogenetic testingmarket covered in this report is segmented -

1) By Type: Whole Genome Sequencing, Whole Exome Sequencing, Array-Based Tests, Single Gene Tests
2) By Drug Type: Prescription Drugs, Nutraceuticals, Recreational Drugs, Herbal Supplements, Vitamins, Over-The-Counter Medications
3) By Therapeutic Area: Cardiology, Gastroenterology, Anesthesiology, Genomics, Endocrinology, Immunology And Hypersensitivity, Dermatology, Gynecology, Oncology, Other Therapeutic Areas
4) By Distribution Channel: Hospital Pharmacy, Retail Pharmacies, Mail-Order Pharmacies, Direct-to-Customer Services
5) By End User: Healthcare Providers, Pharmaceutical And Biotechnology Companies, Centers And Academic Institutes, Other End Users

Subsegments:
1) By Whole Genome Sequencing: Illumina Sequencing, Ion Torrent Sequencing, Pacific Biosciences Sequencing, Oxford Nanopore Sequencing
2) By Whole Exome Sequencing: Capture-Based Exome Sequencing, Targeted Enrichment Exome Sequencing, Hybridization-Based Exome Sequencing
3) By Array-Based Tests: SNP Array Testing, Expression Array Testing, Copy Number Variation Array Testing
4) By Single Gene Tests: Targeted Gene Panels, Mutation Detection Tests, Sequencing Of Specific Genes

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Which Region Dominates the Pharmacogenetic Testing Market?
Asia-Pacific was the largest region in the pharmacogenetic testing market in 2024 and it is expected to be the fastest-growing region in the forecast period. The regions covered in the pharmacogenetic testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Pharmacogenetic Testing Global Market Report?

- Market Size Analysis: Analyze the Pharmacogenetic Testing Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Pharmacogenetic Testing Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Pharmacogenetic Testing Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Pharmacogenetic Testing Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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