NEW YORK, NY / ACCESSWIRE / March 8, 2021 / Adoption of artificial testing is gaining traction in pharmacogenomics testing, according to latest analysis by consulting firm Fact.MR. Expansion of R&D activities by vendors will fuel the growth of pharmacogenic texting market through 2021 and beyond, reveals the analysis by Fact.MR.
According to the study, the market is likely to gain the expansion from the research specific activities carried out by the leading players for the oncology and cardiovascular test study initiatives. A recent study by American Heart Association (AHA) released the laboratories are using specialized individualized treatment for patients spurring the offset of their clinical test trials.
"Artificial Intelligence is aiding pharmacogenic (PGx) testing manufacturers, while initiatives undertaken by private and public organizations are spurring the growth of the market," says an Fact.MR analyst.
For instance, a leading player Myriad Genetics announced earlier this year the collaboration with Intermountain Precision Genomics to offer comprehensive germline and somatic tumor testing services with combined advanced treatment and diagnostic test with the help of AI.
For more Insights into the Market, Request a Sample of this Report
https://www.factmr.com/connectus/sample?flag=S&rep_id=3143
Key Takeaways
- Pharmacogenic diagnostic tests is expected to emerge as lucrative segment in the forecast period
- Oncology pharmacogenic testing to remain in the forefront in the application segment
- North America is expected to be dominant followed by Europe
- Asia Pacific to emerge as the fastest growing market backed by the increasing availability of these tests
- By test type, diagnostic tests to dominate the market
- Diagnostic testing is expected to be the primary focus for the end-users
- Germany and France are leading the Europe market backed by the extensive R&D activities
Competitive Landscape
Key pharmacogenomic testing market players profiled by Fact.MR include Becton Dickinson & Co., Affymetrix Inc., Bayer AG, Abbott Laboratories Inc., AstraZeneca Plc., Thermo Fisher Scientific Inc., Kroger Health, 23andMe, Digbi Health, Genelex, Myriad, Sema4, 2bPrecise and QIAGEN among others. Key players are focusing on organic strategies to further their expansions by mergers and collaborations among each other.
For instance, in January 2020, a leading player, Precision Health Company developed a new platform for streamline genetic testing.
Earlier this year, in March 2021, another key player Becton Dickinson acquired GSL Solutions Inc., to develop smart testing solution and collaborate smart technology to increase security, efficiency and tracking of controlled substances for patient safety.
Get Customization on this Report for Specific Country
https://www.factmr.com/report/3143/pharmacogenomic-pgx-testing-market
More Valuable Insights on Pharmacogenic (PGx) testing Market
In its latest report, Fact.MR offers an unbiased analysis on the global pharmacogenic testing market. To understand the global market potential, its growth, scope of the market and opportunities prevailing in upcoming years, the market is segmented on the basis of test type (therapeutic tests & diagnostic tests), application (oncology, cardiovascular & others) and end-user (diagnostic laboratories, research institutions and academic research institutes) across seven regions (North America, Latin America, Western Europe, Eastern Europe, Japan, APEJ and Middle East & Africa).
Key Questions Covered in the Report
- How will adoption of pharmacogenic (PGx) testing evolve in the future?
- In which markets is pharmacogenic testing being researched aggressively?
- Which is the top selling pharmacogenic (PGx) testing solution?
- Which is the impact of regulation on pharmacogenic (PGx) testing market?
- Which are the top companies operating in the market?
- What is the impact of Covid-19 on pharmacogenic (PGx) testing market?
Explore Fact.MR's Coverage on the Information & Communication Technology Domain
Medical Grade Silicone Market: The global medical grade silicone market report published by Fact.MR sheds an insight on the prominent growth dynamics, including possible drivers, opportunities and challenges, expected to prevail across the landscape for the upcoming decade. A detailed segment-wise and regional assessment is has been embedded within the scope of the report, along with an exhaustive profiling of prominent addiction treatment players present in the landscape.
Kidney cancer diagnostics Market: Explore Fact.MR's kidney cancer diagnostics market research report, offering a detailed study on multiple market trends for the present and upcoming decade. The study entails analyses about the prominent growth trends present across key geographies and major segments, along with information about key manufacturers operating within the landscape.
Mycoplasma Detection Systems Market: The global mycoplasma detection systems market report by Fact.MR delivers a detailed analysis on the strategies and competitive landscape for the upcoming period. The key players' market share data provided by the report given you a detailed insights on the shortcomings and forthcomings of the market for the forecast period.
About Fact.MR
Market research and consulting agency with a difference! That's why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range - from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we'll be an able research partner.
Contact:
Sudip Saha
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E: [email protected]
Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
SOURCE: Fact.MR