Global Pharmacogenetic Testing Market, By Type (Whole Genome Sequencing, Whole Exome Sequencing, Array-Based Tests, and Single Gene Tests), Gene Type (CYP2C19, CYP2D6, CYP2C9 and VKORC1, CYP1A2, HLA-B*1502, HLA-B*5701, CYP2D, OPRM1, ONCOTYPE DX and MAMMAPRINT, DRD3, D4D4, SLC6A4, HTR2A/C, TMPT, and Others), Drug Type (Prescription Drugs, Nutraceuticals, Recreational Drugs, Herbal Supplements, Vitamins, and Over-the-Counter Medications), Sample (Blood and Saliva), Therapeutic Area (Cardiology, Gastroenterology, Anesthesiology, Genomics, Endocrinology, Immunology & Hypersensitivity, Dermatology, Gynecology, Oncology, Neurology, and Others), Application (Clinical Practice, Drug Development, and Drug Regulation), End User (Healthcare Providers, Pharmaceutical & Biotechnology Companies, Research Centres and Academic Institutes, and Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacies, Mail-Order Pharmacies, and Direct-to-Customer Services) - Industry Trends and Forecast to 2030.
Pharmacogenetic Testing Market Analysis and Size
The global pharmacogenetic testing market is expected to gain market growth in the forecast period of 2023 to 2030. The market is fueled by the increasing adoption of personalized medicine which is a market that needed the pharmacogenetic testing market.
Integrating Electronic Health Records (EHRs) is a significant driver for the market growth. An increase in chronic and complex diseases is expected to create opportunities for market growth Data Bridge Market Research analyses that the market is growing with a CAGR of 8.7% in the forecast period of 2023 to 2030 and is expected to reach USD 11,442.40 million by 2030. Advancements in genomic technologies are expected to drive the market's expansion.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Year
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2021 (Customizable 2015-2020)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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Type (Whole Genome Sequencing, Whole Exome Sequencing, Array-Based Tests, and Single Gene Tests), Gene Type (CYP2C19, CYP2D6, CYP2C9 and VKORC1, CYP1A2, HLA-B*1502, HLA-B*5701, CYP2D, OPRM1, ONCOTYPE DX and MAMMAPRINT, DRD3, D4D4, SLC6A4, HTR2A/C, TMPT, and Others), Drug Type (Prescription Drugs, Nutraceuticals, Recreational Drugs, Herbal Supplements, Vitamins, and Over-the-Counter Medications), Sample (Blood and Saliva), Therapeutic Area (Cardiology, Gastroenterology, Anesthesiology, Genomics, Endocrinology, Immunology & Hypersensitivity, Dermatology, Gynecology, Oncology, Neurology, and Others), Application (Clinical Practice, Drug Development, and Drug Regulation), End User (Healthcare Providers, Pharmaceutical & Biotechnology Companies, Research Centres and Academic Institutes, and Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacies, Mail-Order Pharmacies, and Direct-to-Customer Services)
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Countries Covered
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U.S., Canada, Mexico, France, Germany, Spain, Italy, U.K., Spain, Netherlands, Russia, Turkey, Switzerland, Rest of Europe, China, Japan, Thailand, India, South Korea, Australia, Singapore, Indonesia, Philippines, Malaysia, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, U.A.E., Saudi Arabia, South Africa, Israel, Egypt, and Rest of Middle East and Africa
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Market Players Covered
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PerkinElmer Inc., Illumina, Inc., Thermo Fisher Scientific Inc., Dynamic DNA Laboratories, Sonic Healthcare, QIAGEN, Eurofins Scientific, 23andMe, Inc, OneOme, BGI, PacBio, MD Labs, GENEWIZ, PGXT, Luminex Corporation, and Myriad Genetics, Inc., among others
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Pharmacogenetic Testing Market Definition
Pharmacogenetic testing includes services that examine a person's genetic profile to ascertain how a person’s genes affect the reaction of the same to particular drugs. This specialized genetic testing identifies specific genetic variations that may affect different medications' metabolism, effectiveness, and potential side effects. Healthcare professionals can customize drug selections and dosages for a patient to improve treatment outcomes, reduce side effects, and increase overall drug efficacy. This is done by being aware of that patient's genetic predispositions. The quality of healthcare and patient outcomes may improve due to this personalized medication selection and dosage approach.
Pharmacogenetic Testing Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:
Drivers
- Increasing Adoption of Personalized Medicine
Pharmacogenetic testing plays a crucial role in personalized medicine by tailoring drug treatments to an individual's genetic makeup. This innovative approach involves analyzing an individual's genetic variations, which can impact how they metabolize and respond to specific medications. These genetic differences can influence drugs' effectiveness and potential side effects, making pharmacogenetic testing a valuable tool for personalized treatment plans.
Healthcare providers can identify genetic markers that determine how their body processes and utilizes drugs by examining a person's unique genetic profile. This information allows for the customization of drug selection and dosages to optimize treatment outcomes. For instance, some individuals may have genetic variants that make them more sensitive to certain medications, necessitating lower doses to achieve the desired therapeutic effect without adverse reactions. On the other hand, some genetic variations may require higher doses for the same effect. This tailored approach minimizes the "trial and error" often associated with medication selection, reducing the risk of adverse reactions and improving treatment efficacy. It empowers healthcare professionals to make informed decisions and prescribe medications that are more likely to work well for patients based on their genetic predispositions. Ultimately, pharmacogenetic testing significantly contributes to the paradigm of personalized medicine, revolutionizing healthcare by promoting more precise and individualized treatment strategies for better patient outcomes.
Hence, the market is benefitting from this surge in demand, witnessing a consistent rise in R&D activities to create more comprehensive and accurate testing solutions. Technological advancements, such as Next-Generation Sequencing (NGS) and other molecular diagnostic techniques, further enhance the precision and affordability of these tests. The result is a mutually reinforcing relationship between the rise of personalized medicine and the flourishing market, with both significantly impacting the healthcare landscape, promising a future where treatments are tailored, effective, and patient-centric, which is expected to drive market growth.
- Advancements in Genomic Technologies
The ongoing surge in genomic innovation has significantly enhanced the precision, speed, and cost-effectiveness of genetic testing. Next-Generation Sequencing (NGS) and other cutting-edge molecular diagnostic techniques have emerged as pivotal tools, revolutionizing how genetic information is analyzed and interpreted. The integration of these advanced genomic technologies has bolstered the accuracy and scope of pharmacogenetic testing, allowing for comprehensive assessment of an individual's genetic profile. This, in turn, empowers healthcare professionals to make informed decisions regarding drug selection, dosing, and treatment strategies tailored to a patient's unique genetic makeup.
Moreover, CRISPR-Cas9 gene editing technology has shown promise in studying the functional impact of specific genetic variants. This technology allows researchers to precisely modify genes, mimicking certain genetic variations and elucidating their effects on drug metabolism and response. These advancements collectively contribute to the refinement and expansion of the market, bringing closer to a future where medications are tailored to each individual based on their unique genetic blueprint, which is expected to drive market growth.
Opportunity
- Integration with Electronic Health Records (EHRs)
Seamless integration allows for efficient and centralized genetic data storage alongside comprehensive patient health records. This amalgamation enhances the accessibility and usability of pharmacogenetic information for healthcare professionals, enabling them to make real-time data-driven decisions. Physicians can readily access genetic insights during treatment planning, ensuring the prescription of medications that align with a patient's unique genetic makeup. The efficiency gains achieved through this integration accelerate the adoption of pharmacogenetic testing, contributing to improved patient care, streamlined workflows, and ultimately fostering growth in the market.
Moreover, the integration with EHRs facilitates research and data analysis on a broader scale. Aggregated and de-identified genetic data within EHRs can be leveraged for research and clinical studies, driving advancements in pharmacogenomics. Pharmaceutical companies, research institutions, and healthcare providers can utilize this data to enhance drug development, validate genetic associations, and optimize treatment strategies. This collaboration between the market and EHRs fuels innovation. It fosters a synergistic ecosystem that benefits the healthcare sector and propels the market forward through enhanced research, product development, and data-driven decision-making, which is expected to create opportunities for market growth.
Restraint/Challenge
- Dependency on the Medical and Genomic Expert for Result Interpretation
The market faces a notable constraint in the form of heavy reliance on medical and genomic experts for result interpretation. The intricate nature of genetic data necessitates specialized knowledge and expertise for accurate and meaningful understanding. The correct interpretation of pharmacogenetic test results heavily depends on highly skilled professionals, including geneticists, pharmacologists, and genomics experts. This dependency poses a challenge in terms of scalability and widespread adoption of pharmacogenetic testing. The limited pool of qualified experts and the time and effort required for precise interpretation often delay providing actionable insights to healthcare practitioners and patients. Furthermore, this reliance on experts can lead to increased costs and resource utilization, hindering the seamless integration of pharmacogenetic testing into routine clinical practice. Overcoming this restraint calls for advancements in automated data analysis tools, user-friendly interfaces, and comprehensive educational programs to empower a broader spectrum of healthcare professionals in accurately interpreting and utilizing pharmacogenetic test results.Thus, the market holds immense promise in tailoring drug therapies for individuals based on their genetic makeup. A critical challenge lies in the dependency on medical and genomic experts for interpreting test results. The complexity of genetic data requires specific expertise, making it challenging to interpret results and make clinical decisions, which is expected to restrain market growth.
Recent Development
- In May 2023, PerkinElmer Inc. announced the launch of Revvity, Inc. as a provider of science-based solutions that uses advancements in the diagnostics and life sciences to enhance people's lives worldwide. Previously, the business was connected to PerkinElmer, Inc. Customers of Revvity come from various industries, including pharma and biotech, diagnostic labs, academia, and governmental organizations. Revvity offers reagents, consumables, assays, instruments, and software
- In October 2022, PacBio and Twist Bioscience Corporation announced the availability of an initial portfolio of off-the-shelf long-read gene panels. These fixed Twist Alliance panels are made to efficiently and cost-effectively capture target areas. In addition, customers will be able to create a panel of their design that is fully adaptable and scalable for sequencing using PacBio HiFi reads
Global Pharmacogenetic Testing Market Scope
The global pharmacogenetic testing market is segmented into eight notable segments based on type, gene type, drug type, sample, therapeutic area, application, end user, and distribution channel. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications
Type
- Whole Genome Sequencing
- Whole Exome Sequencing
- Array-Based Tests
- Single Gene Tests
On the basis of type, the market is segmented into whole genome sequencing, whole exome sequencing, array-based tests, and single gene tests.
Gene Type
- CYP2C19
- CYP2D6
- CYP2C9 and VKORC1
- CYP1A2
- HLA-B*1502
- HLA-B*5701
- CYP2D
- OPRM1
- ONCOTYPE DX® and MAMMAPRINT®
- DRD3
- D4D4
- SLC6A4
- HTR2A/C
- TMPT
- Others
On the basis of gene type, the market is segmented into CYP2C19, CYP2D6, CYP2C9 and VKORC1, CYP1A2, HLA-B*1502, HLA-B*5701, CYP2D, OPRM1, ONCOTYPE DX and MAMMAPRINT, DRD3, D4D4, SLC6A4, HTR2A/C, TMPT, and others.
Drug Type
- Prescription Drugs
- Nutraceuticals
- Recreational Drugs
- Herbal Supplements
- Vitamins
- Over-the-Counter Medications
On the basis of drug type, the market is segmented into prescription drugs, nutraceuticals, recreational drugs, herbal supplements, vitamins, and over-the-counter medications.
Sample
- Blood
- Saliva
On the basis of sample, the market is segmented into blood and saliva.
Therapeutic Area
- Cardiology
- Gastroenterology
- Anesthesiology
- Genomics
- Endocrinology
- Immunology & Hypersensitivity
- Dermatology
- Gynecology
- Oncology
- Neurology
- Others
On the basis of therapeutic area, the market is segmented into cardiology, gastroenterology, anesthesiology, genomics, endocrinology, immunology & hypersensitivity, dermatology, gynecology, oncology, neurology, and others.
Application
- Clinical Practice
- Drug Development
- Drug Regulation
On the basis of application, the market is segmented into clinical practice, drug development, and drug regulation.
End User
- Healthcare Providers
- Pharmaceutical & Biotechnology Companies
- Centres and Academic Institutes
- Others
On the basis of end user, the market is segmented into healthcare providers, pharmaceutical & biotechnology companies, research centers and academic institutes, and others.
Distribution Channel
- Hospital Pharmacy
- Retail Pharmacies
- Mail-Order Pharmacies
- Direct-to-Customer Services
On the basis of distribution channel, the market is segmented into hospital pharmacy, retail pharmacies, mail-order pharmacies, and direct-to-customer services.
Regional Analysis/Insights: Pharmacogenetic Testing Market
The global pharmacogenetic testing market is analyzed, and market size insights and trends are provided on the basis of type, gene type, drug type, sample, therapeutic area, application, end user, and distribution channel as referenced above.
The countries covered in the market report are U.S., Canada, Mexico, France, Germany, Spain, Italy, U.K., Spain, Netherlands, Russia, Turkey, Switzerland, Rest of Europe, China, Japan, Thailand, India, South Korea, Australia, Singapore, Indonesia, Philippines, Malaysia, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, U.A.E., Saudi Arabia, South Africa, Israel, Egypt, and Rest of Middle East and Africa.
The U.S. is expected to dominate the North America region due to its advanced infrastructure and extensive network of high-quality healthcare infrastrcture centers. Germany is expected to dominate the Europe region due to its rising R&D associated with biotechnology and healthcare. Japan is expected to dominate the Asia-Pacific region due to its rising demand and increasing awareness regarding the pharmacogenetic testing market.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of regional brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Pharmacogenetic Testing Market Competitive Landscape and Share Analysis
The global pharmacogenetic testing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional 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 on the market.
Some of the major players operating in the global pharmacogenetic testing market are PerkinElmer Inc., Illumina, Inc., Thermo Fisher Scientific Inc., Dynamic DNA Laboratories, Sonic Healthcare, QIAGEN, Eurofins Scientific, 23andMe, Inc, OneOme, BGI, PacBio, MD Labs, GENEWIZ, PGXT, Luminex Corporation, and Myriad Genetics, Inc., among others.
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