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Pharmacogenetics Testing in Psychiatry/Depression Market helps medical professionals by providing information on how a person metabolizes a medication. This information can help doctors and others avoid prescribing antidepressants that could produce undesirable outcomes. Pharmacogenomics has shown promise for predicting antidepressant response and tolerability in major depressive disorder (MDD). Pharmacogenomics can improve clinical outcomes by guiding antidepressant selection and dosing. The growing biotechnology sector, and increasing health expenditure, have accelerated the demand for pharmacogenetic testing in psychiatry/depression.
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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Depression is a widespread illness that affects an estimated 3.8% of the global population, including 5.0% of adults and 5.7% of those over 60. Depression can progress from mild to severe, causing significant pain and, in the worst cases, leading to suicide. Despite the availability of over 45 antidepressants, inadequate response remains a difficulty and is thought to be caused by genetic variation, psychiatry/depression.
Growing prevalence of depression is expected to drive the market’s growth rate
Depression is a common mental illness that affects millions of people worldwide. The prevalence of depression is expected to increase in the coming years, which is driving the demand for pharmacogenetics testing. There is a growing awareness of pharmacogenetics among patients, healthcare providers, and policymakers. This is driving the adoption of pharmacogenetics testing for the treatment of depression.
Market Development:
- In 2022, Blue Care Network (BCN) launched Blue Cross Personalized Medicine in April. This precision medicine program uses genetic testing and pharmacogenomics to personalize and tailor medication treatments for a subset of members. The program is designed to improve patient health outcomes and lower the overall cost of care. BCN has partnered with OneOme LLC to help achieve the goals of the program. OneOme is a genetic testing company that specializes in pharmacogenomics. Pharmacogenomics is the study of how genes affect the way people respond to medications. By understanding a patient’s genetic makeup, OneOme can help BCN identify the medications that are most likely to be effective and safe for each individual patient.
- In 2021, Azenta Life Sciences announced that its genomics analysis business, GENEWIZ, had been awarded one of six Genome Characterization Center Indefinite Delivery Indefinite Quantity (IDIQ) agreements from the National Cancer Institute (NCI). The NCI is the nation’s leader in cancer research and part of the National Institutes of Health (NIH). GENEWIZ was chosen to provide whole exome sequencing for new research projects at the NCI’s Center for Cancer Genomics for a period of three years. Whole exome sequencing is a type of genetic testing that can identify changes in the DNA that are associated with cancer. By understanding these changes, GENEWIZ can help the NCI to develop new cancer treatments and improve the chances of survival for cancer patients.
Browse a Detailed Summary of Pharmacogenetics Testing in Psychiatry/Depression Market Research Report @ https://www.databridgemarketresearch.com/reports/global-pharmacogenetic-testing-in-psychiatry-depression-market?Shri
Segment Analysis:
- The global pharmacogenetics testing in psychiatry/depression market is categorized into seven notable segments which are based on type, test type, product type, gene type, patient type, end user and distribution channel.
- On the basis of by type, global pharmacogenetics testing in psychiatry/depression market is segmented into anxiety, mood disorders, depression, bipolar disorders, psychotic disorders, eating disorders.
Anxiety segment is expected to dominate the global pharmacogenetics testing in psychiatry/depression market
- The anxiety segment is expected to dominate the global pharmacogenetics testing in psychiatry/depression market with a market share of 34.96% due to growing adoption of pharmacogenetics testing in psychiatry/depression devices and procedures.
- On the basis of test type, global pharmacogenetics testing in psychiatry/depression market is segmented into whole genome sequencing and chromosomal array-based tests. Whole genome sequencing segment is expected to dominate the global pharmacogenetics testing in psychiatry/depression market a market share of 62.45% due to bioinformatics and statistical analysis which has the potential to identify variants that correlate with clinical response to specific drugs.
- On the basis of patient type, the global pharmacogenetics testing in psychiatry/depression market is segmented into child, adults and geriatric. Adults segment is expected to dominate the global pharmacogenetics testing in psychiatry/depression market with a market share of 54.48% due to growth in the prevalence of depression.
- On the basis of by product type, global pharmacogenetics testing in psychiatry/depression market is segmented into intruments, consumables and software and services.
Consumables segment is expected to dominate the global pharmacogenetics testing in psychiatry/depression market
- The consumables segment is expected to dominate the global pharmacogenetics testing in psychiatry/depression market with a market share of 45.81% due to high GDP. The U.S is expected to grow due to the increase in technological advancement in pharmacogenetics testing.
- On the basis of gene type, global pharmacogenetics testing in psychiatry/depression market is segmented into CYP2C19, CYP2C9 and VKORC1, CYP2D6, HLA-B, HTR2A/C, HLA-A, CYP3A4, SLC6A4, MTHFR, COMT and others. CYP2C19 segment is expected to dominate the global pharmacogenetics testing in psychiatry/depression market with a market share of 24.01% due to the test searches for the gene variant that may be responsible for influencing the effect of the drug.
- On the basis of end user, global pharmacogenetics testing in psychiatry/depression market is segmented into hospitals and clinics, diagnostics laboratories, academic and research institutes, and others.
- On the basis of distribution channel, the global pharmacogenetics testing in psychiatry/depression market is segmented into direct tender, third party distribution hospital pharmacy and others. Direct tenders segment is expected to dominate the global
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