Press release
North America Pharmacogenomics Market Competitors Strategy, Regional Analysis and Growth 2028
Get Full Report: https://www.businessmarketinsights.com/reports/north-america-pharmacogenomics-market
The key factors driving the growth of this market are the increasing prevalence of chronic diseases, the surge in demand for precision medicines, and the rise in funding for pharmacogenomic research activities. However, the shortage of skilled professionals is expected to restrict the market growth during the forecast period.
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
The Growing Impact of Chronic Diseases and Pharmacogenomics in North America
A significant proportion of older adults-over 60%-suffer from two or more chronic conditions. Twin studies have demonstrated that genetics play a critical role in the development of chronic diseases such as cardiovascular disease (CVD), diabetes, obesity, rheumatoid arthritis (RA), Alzheimer's disease (AD), and depression. With advancements in molecular genetics and genome-wide association studies (GWAS), researchers can now measure individual-level risks for these diseases, offering new possibilities for prevention and treatment.
According to the Centers for Disease Control and Prevention (CDC), in 2020, nearly 6 in 10 people in the U.S. had at least one chronic disease, while 4 in 10 suffered from two or more. Among these, cardiovascular diseases-including atherosclerosis, angina pectoris, and acute myocardial infarction-are the leading cause of mortality, largely influenced by lifestyle factors. Data from the World Health Organization (WHO) indicates that CVDs account for approximately 17.9 million deaths worldwide each year.
Diabetes remains another major health crisis with no functional cure. It significantly increases the risk of life-altering complications, including heart attacks, strokes, kidney failure, amputations, vision loss, and nerve damage. The prevalence of diabetes has been rising at an alarming rate. According to the International Diabetes Federation (IDF), in 2017, 46 million people in North America had diabetes-a number projected to reach 62 million by 2045. Globally, the number of diabetes cases stood at approximately 425 million in 2017 and is expected to surge to 629 million by 2045, marking a 35% increase.
Similarly, Alzheimer's disease is a growing global concern, with an estimated 55 million people diagnosed in 2020, according to the Alzheimer's Association. As chronic diseases continue to rise, genomics research has advanced significantly in recent years, fueling the growth of precision medicine and pharmacogenomics.
Pharmacogenomics-the study of how genes influence an individual's response to drugs-is transitioning rapidly into clinical practice. Supported by significant government investments exceeding $4 billion across at least 14 countries, national genomic medicine initiatives are driving transformative changes in healthcare. These initiatives not only promote real-world implementation but also help address barriers to widespread adoption while generating critical evidence to support broader integration into medical practice.
The industry is also seeing major financial backing from both government and private sector investments. In August 2018, Boston Scientific Corporation, based in Massachusetts, secured $4.3 million in seed funding and partnered with Veritas Genetics. This funding aims to propel personal genome sequencing into mainstream healthcare by creating a secure, decentralized marketplace for genomic data. Continuous investments from manufacturers and government agencies are accelerating the growth of the pharmacogenomics market, shaping the future of personalized medicine.
Strategic Insights: North America Pharmacogenomics Market
The North American pharmacogenomics sector is evolving rapidly, with data-driven insights offering a competitive edge to industry stakeholders. By analyzing emerging trends, key players, and regional market dynamics, businesses can identify untapped opportunities and develop unique value propositions. Leveraging advanced data analytics, stakeholders-including investors, manufacturers, and healthcare providers-can anticipate market shifts and position themselves for long-term success.
Strategic foresight is essential in this dynamic landscape, empowering decision-makers with actionable intelligence to drive profitability and achieve business objectives. As the pharmacogenomics market continues to expand, staying ahead of industry trends will be crucial for sustained growth and innovation.
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Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications
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