Pharmacogenetic Testing Market to Exhibit a Remarkable CAGR of 8.7% by 2030, Size, Share, Trends, Key Drivers, Demand, Opportunity Analysis and Competitive Outlook

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.

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.

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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.

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.

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