The Pharmacogenetic Tests Market report tabled by Persistence Market Research focuses on the parameters of the 4th industrial revolution, which includes technology-driven healthcare solutions, with several breakthroughs in this regard. The entire supply chain – right from diagnostics to the delivery of medicines, is being driven by the technological advancements in healthcare.
Pharmacogenetic test, also known as drug-gene test is used to study and determine the interactions of drug and the genetic make-up of the individual. It has been observed that different people react differently with drugs according to the expression of the genes induced by the drug.
The effect of the drug largely depends on the age, lifestyle, environmental conditions and other medications taken by the individual. Such factors are considered in the pharmacogenetic tests to prescribe the right medication and treatment option to the patient. Pharmacogenetic tests aid the medical professional to choose the best medicine for the person undertaking the test.
Pharmacogenetic tests search for the gene variants that may be responsible for influencing the effect of the drug and thereby helps to determine the degree of effect a drug has on the individual. Pharmacogenetic tests are easy and reliable and require blood or oral swab as the sample material.
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This evidence-based medication management is gaining recognition for specificity and sensitivity detection. Direct-to-customer services are emerging in the pharmacogenetic test market lately, which facilitates easy result access in a smart device.
The increasing evidence of influence of genes on medications drives the pharmacogenetic test market. Moreover, the rising demand for personalized medicines and precision diagnosis is expected to favor the expansion of the pharmacogenetic test market over the forecast period. Increasing number reimbursement policies for pharmacogenetic tests by insurance companies is expected to influence the growth of pharmacogenetic tests in the market.
Increasing healthcare expenditure and higher adoption of advance products in developed and high-income countries is expected to fuel the growth of pharmacogenetic tests market over the forecast period.
On the contrary, limited evidence for clinical utility and uncertainty regarding the benefits of the pharmacogenetic tests hamper the growth of pharmacogenetic tests in the market. Additionally, higher cost associated with the pharmacogenetic tests are expected to restrict the mass adoption of the product.
Medical and genomic expert is required to the interpretation of the results provided by pharmacogenetic tests which currently have limited access, creating a restraint for expansion of pharmacogenetic test market.
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Market Segmentation:
Based on product type, global pharmacogenetic testing market is segmented into:
- Single gene tests
- Array-based tests
- Whole genome sequencing & Next-generation sequencing
- Whole exome sequencing
Based on sample, global pharmacogenetic testing market is segmented into:
- Blood
- Saliva
Based on therapeutic area, global pharmacogenetic testing market is segmented into:
- Oncology
- Neurology
- Cardiology
- Genomics
- Immunology and Hypersensitivity
- Others
Based on distribution channel, global pharmacogenetic testing market is segmented into:
- Hospital Pharmacies
- Retail Pharmacies
- Mail-Order Pharmacies
- Direct to Customer Services
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Some of the key players operating in the pharmacogenetic test market are Sonic Healthcare, Kailos Genetics, Inc., GENELEX, GENEWIZ, Inc., Rxight, PGXT, Abomics Ltd., OneOme, LLC, Mako Medical Laboratories, Assurex Health, Inc., and Clinical Reference Laboratory, Inc. amongst others.
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