Human Genetics Market Regional Analysis:
North America Market Analysis
North America industry is predicted to hold largest revenue share of 44% by 2035, owing to its established healthcare infrastructure and high demand for personalized medicine for genetic testing. There is a strong concentration on precision health and preventive genetic testing activities, hence driving substantial growth in this region. Initiatives taken by governments and favorable reimbursement policies widen access to genetic testing. This lays a higher footing for healthcare and technology to continue promoting North America's leadership in genetics.
The U.S. is leading in genetic testing and precision medicine due to favorable regulatory settings and massive investments in genomic research. In March 2023, a report by Alnylam Pharmaceuticals, Inc. noted that its RNAi therapeutics had benefited more than 2,500 patients, underlining commitments within the U.S. toward state-of-the-art genetic therapies. As a result, such an adoption level places the U.S. among the leading countries in human genetics, particularly in RNA-based treatments.
The human genetics market in Canada is rising at a considerable pace due to government support for research, in addition to individual interest in genetic testing as a form of preventive care. For example, Health Canada advocates for the adoption of genetic diagnostics, making Canada a lucrative market for human genetics solutions. Furthermore, in January 2023, Canada supported the Genome Canada initiative to enhance genetic research, reflecting the country's commitment to precision medicine and innovative healthcare.
Asia Pacific Market Analysis
Asia Pacific human genetics market is anticipated to witness steady growth throughout the forecast period, due to the support of genomic initiatives by governments and a focus on personalized healthcare. The large population and increasing demand for healthcare create the backdrop for the potential expansion of applications in human genetics. Moreover, newly developed local infrastructure for biotechnology and research calls for accelerated regional innovation. With more nations investing in genomic research, Asia Pacific is likely to emerge as a major contributor to the global market.
The human genetics market in China is supported by the governmental approach to precision medicine with significant investments in genetic research infrastructures. Due to the large population, the country has focused on genomic research to address healthcare challenges. In October 2022, Oxford Nanopore Technologies partnered with 10x Genomics to streamline workflows in genetic testing, reflecting the country's emphasis on advanced diagnostics. Such a focus places China as one of the leading players in Asia Pacific.
The adoption of human genetics in India is being driven by plans for increasing infrastructure for genetic testing and research. Recently, India initiated the Genome Asia 100K project regarding the sequencing of Asian genomes, underlining a commitment toward population-specific genetic understanding. This initiative aligns with country’s goal toward precision medicine development and growth in the human genetics market.
