The North America pharmacogenomics market is expected to reach US$ 6,534.83 million by 2028 from US$ 3,333.43 million in 2021. it is estimated to grow at a CAGR of 10.1% from 2021 to 2028.
The growth of the North America pharmacogenomics market is being driven by several key factors, including the rising prevalence of chronic diseases, increasing demand for precision medicine, and growing investments in pharmacogenomic research. However, a significant challenge to market expansion is the shortage of skilled professionals in the field.
More than 60% of older adults suffer from multiple chronic conditions. Twin studies have shown that genetics play a significant role in the development of chronic illnesses such as cardiovascular diseases (CVDs), diabetes, obesity, rheumatoid arthritis (RA), Alzheimer’s disease (AD), and depression. The advent of genome-wide association studies (GWAS) has enabled researchers to assess individual-level risks for these conditions using molecular genetic data. According to the Centers for Disease Control and Prevention (CDC), as of 2020, around 60% of Americans had at least one chronic disease, while 40% had two or more.
CVDs—including atherosclerosis, angina, and myocardial infarction—are particularly lethal and strongly linked to modern lifestyle factors. The World Health Organization (WHO) reports that CVDs claim approximately 17.9 million lives globally each year, making them the leading cause of death. Similarly, diabetes remains a life-threatening illness without a definitive cure. It can lead to severe complications, including heart attacks, strokes, kidney failure, amputations, vision loss, and nerve damage. According to the International Diabetes Federation (IDF), there were 46 million cases of diabetes in North America in 2017, with projections indicating a rise to 62 million by 2045. Globally, diabetes affected approximately 425 million people in 2017, a number expected to grow to 629 million by 2045—representing a 35% increase.
Alzheimer’s disease is another major concern, with the Alzheimer’s Association reporting 55 million cases worldwide in 2020. As the burden of chronic diseases continues to rise, research in genomics has accelerated significantly over the past five years, further propelling North America pharmacogenomics market growth.
Additionally, North America pharmacogenomics market is increasingly being integrated into clinical practice, supported by substantial government investments totaling over US$4 billion across at least 14 countries. These national initiatives aim to facilitate the adoption of genomic medicine in real-world healthcare settings by overcoming implementation barriers and building an evidence base for wider use.
Notably, in August 2018, Boston Scientific Corporation, based in Massachusetts, secured US$4.3 million in seed funding and formed a partnership with Veritas Genetics. This investment supports the company's efforts to pioneer a secure, decentralized marketplace for genomic data, reinforcing its commitment to the era of personal genome sequencing.
Overall, sustained funding from both private and public sectors, coupled with technological advancements and increasing disease prevalence, is significantly boosting the North America pharmacogenomics market.
North America Pharmacogenomics Market Segmentation
North America pharmacogenomics market By Technology
- Hospitals & Clinics
- Biopharmaceutical Companies
- CROs and CDMOs
- Others
North America pharmacogenomics market By Application
- PCR
- Sequencing
- Microarray
- gel electrophoresis
- mass spectrometry
- Others
North America pharmacogenomics market By End User
- Drugs Discovery
- Oncology
- Neurological & Psychiatry
- Pain Management
- Cardiovascular
- Others
North America pharmacogenomics market By Country
- US
- Canada
- Mexico
North America pharmacogenomics market Company Profiles
- Abbott
- F. HOFFMANN-LA ROCHE LTD.
- Oxford Nanopore Technologies
- THERMO FISHER SCIENTIFIC INC.
- Illumina, Inc.
- QIAGEN
- Agilent Technologies, Inc.
- Myriad Genetics, Inc.
- Admera Healt
North America pharmacogenomics market Strategic Insights
Strategic insights for the North America pharmacogenomics market provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the North America pharmacogenomics market.
North America pharmacogenomics market Regional Insights
The geographic scope of the North America pharmacogenomics market refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
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