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Pharmacogenomic Market Gaining Greater Acceptance Across Europe

stic tests remain major restraints for market growth. Lack of education and awareness among the medical community is an additional impediment, as physicians unfamiliar with this novel approach are more likely to abide by traditional methods. Eventually, patient demand could have the final say on the acceptance or rejection of pharmacogenomics.

"With clinical applicability being the prime competitive factor in the market, it will be crucial for pharmacogenomics developers to prove the clinical applicability of their tests to clinicians," says Dr. Rahman. "Clinical applicability includes the price of the test, clinical validity, specificity, sensitivity and prevalence of adverse conditions the test is seeking to prevent."

Going forward, companies will have to clearly demonstrate the clinical practicality of their tests to the medical community. Apart from oncologists, most physicians have misconceptions about the clinical practicality and do not understand the benefits of pharmacogenomic tests. Hence, they should be made aware of the long-term value proposition of pharmacogenomic testing in terms of lowering the overall healthcare cost and increasing patient well being.

European Personalised Medicine and Pharmacogenomics Market is part of the Drug Discovery Technologies Growth Partnership Service program, which also includes research on the following: European Molecular Diagnostics Markets, European IVD Market and European Cancer Diagnostic Market, European Primary Care Diagnostics. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth cons
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