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Strong Demand for Pharmacogenomics Driving the Genetic Testing Market

Thursday, March 2, 2017 0:14
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“Increasing usage of pharmacogenomics in the development of personalized medicines, is expected to drive demand of genetic testing”, says RNCOS.

 

Pharmacogenomics segment is expected to experience significant growth over the coming years. Supported by factors such as rising usage in drug discovery and development, increasing demand for personalized drugs, increasing prevalence of infectious diseases, and increasing awareness about benefits associated with pharmacogenomics the segment is expected to witness a high growth.

 

Pharmacogenomics uses genetic tests to predict response to therapy, and then assist doctors prescribe drugs and doses best suited for every individual. It is also considered as the next medical revolution, beyond antibiotics, painkillers, and vaccines. Owing to these factors, there has been a strong demand for pharmacogenomics tests in recent years. For instance, in the past two years, the National Reference Laboratory for Breast Health, Inc. has processed approximately 238 pharmacogenomics tests. Some of the FDA-approved pharmacogenomic tests include the cancer drugs, such as Herceptin, Gleevac, and Erbetux. The test kit Herceptest™, developed by Dako, was one of the first to be developed and approved by the Center for Devices and Radiological Health in 2001. These commercialized pharmacogenomics tests are expected to witness rapid expansion with competition set to intensify.

 

Furthermore, pharmacogenomics can prove exceedingly cost effective, consequently making the new genes accessible to more people. These tests were widely available in the US via companies such as 23andMe1.

 

According to a new research report by RNCOS entitled, “Global Genetic Testing Market Outlook 2022”, the advances in pharmacogenomics have opened new possibilities in various field of medicine, including cardiovascular disorders, oncology, mental health, HIV, tuberculosis, asthma, diabetes, and pain management. With the increased application of pharmacogenomics in medicine, the number of laboratories offering pharmacogenomic tests is likely to continue to increase in the years to come, which will further allow the development of advanced personalized medicines to treat a wide range of health issues.

 

For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM840.htm

 

Check Related REPORTS on:  http://www.rncos.com/Healthcare_Industry.htm

 

ABOUT RNCOS

 

RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide. 

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