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.
Key Drivers and Challenges in the North America Pharmacogenomics Market Growth
The growth of the North America Pharmacogenomics Market is primarily fueled by the rising prevalence of chronic diseases, increasing demand for precision medicine, and significant investments in pharmacogenomic research. However, a shortage of skilled professionals is expected to hinder market expansion during the forecast period.
Growing Burden of Chronic Diseases
A majority of older adults (over 60%) suffer from multiple chronic conditions. Genetic factors play a critical role in diseases such as cardiovascular disorders (CVDs), diabetes, obesity, rheumatoid arthritis (RA), Alzheimer’s disease (AD), and depression. Advances in genome-wide association studies (GWAS) now enable the assessment of individual genetic risks for these conditions. According to the CDC, in 2020, nearly 60% of U.S. adults had at least one chronic disease, while 40% had two or more.
- Cardiovascular Diseases (CVDs): Conditions like atherosclerosis, angina, and myocardial infarction contribute to high mortality rates. The WHO reports that CVDs are the leading cause of death globally, claiming approximately 17.9 million lives annually.
- Diabetes: A life-threatening condition with no cure, diabetes leads to severe complications such as heart disease, stroke, kidney failure, amputations, and vision loss. The International Diabetes Federation (IDF) estimates that North America had 46 million diabetic patients in 2017, a number projected to rise to 62 million by 2045. Globally, diabetes cases are expected to surge from 425 million in 2017 to 629 million by 2045—a 35% increase.
- Alzheimer’s Disease: The Alzheimer’s Association reported 55 million global cases in 2020. As chronic diseases escalate, genomic research has accelerated, driving market growth.
Government and Private Sector Investments in Pharmacogenomics
Pharmacogenomics is increasingly being integrated into clinical practice, supported by government funding exceeding $4 billion across 14 countries. These initiatives aim to overcome implementation barriers while gathering evidence for broader adoption.
In August 2018, Boston Scientific Corporation secured $4.3 million in seed funding and partnered with Veritas Genetics to advance personalized genome sequencing. Such investments highlight the growing commitment to genomic innovation.
North America Pharmacogenomics Market: Strategic Insights
The North America Pharmacogenomics Market is shaped by data-driven trends, competitive dynamics, and regional developments. Strategic insights enable stakeholders to:
- Identify emerging opportunities and untapped market segments.
- Differentiate through unique value propositions.
- Leverage analytics to anticipate industry shifts.
- Make informed, future-focused decisions to ensure long-term success.
For investors, manufacturers, and healthcare providers, these insights are crucial for optimizing profitability and achieving business objectives in a rapidly evolving market.
By addressing challenges such as workforce shortages and capitalizing on technological advancements, the pharmacogenomics sector is poised for transformative growth.
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
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
