Genomics Market Regional Analysis:
North America Market Insights
North America industry is set to hold largest revenue share of 45% by 2035. The growth in the region is credited to the surge in drug discovery and disease research owing to the usage of genetic expression on the health of humans. This might increase the sector of the drug screening as well. The National Library of Medicine published a report in 2018 that the academic drug development and discovery success rates were more than 75% in Phase 1 and about 50% and 59% in Phase 2 and Phase 3 respectively.
In the United States, there is a tremendous impact in healthcare advancements along with the spending on healthcare, as the American Medical Association in 2024, estimated that the total health spending in the U.S. will increase by 4% when compared to 2022.
Research on cancer in Canada has been increasing which will fuel the genomic startups. National Institutes of Health published a report in 2024 estimates that in 2024 the cancer cases and deaths might cross 247100 and 88100 respectively.
APAC Market Insights
Asia Pacific genomics market and will account for the second position owing to the increasing presence of rare diseases that demand whole-genome sequencing. Asia Pacific Economic Cooperation published a report in 2018 estimating that 6-8% of the population was affected by several rare diseases, which is predicted to be about 200 million people in the APAC region.
In China, several genomic techniques are at surge to treat increasing genetic disorders such as diabetes, cancer, and many more. The National Institutes of Health (NIH) predicted in 2023 that the presence of diabetes in China will cross 9.7% by 2030.
Japan is predicted to have high healthcare expenditures which will increase the genomics market size expansion of the healthcare staffing sector. A report in 2022 concluded that there was about 2.2 times growth over the last 30 years in Japan from 1990 to 2015 in healthcare expenditure.
