The North American genomic biomarker market is estimated to grow significantly at a CAGR of over 15% during the forecast period. Factors that are contributing significantly in the market growth include the presence of well-developed healthcare infrastructure, increasing healthcare R&D investments, high healthcare expenditure and others. Moreover, the rising number of cancer patients is considered to be one of the major factors that are driving the growth of the genomic biomarkers market in the North America region. 

North America is one of the strongest economies globally, comprising around 23.3% of the world economy as per the International Monetary Fund in 2017. According to data from OECD, in 2016 the US spent almost 17.2% of GDP on healthcare expenditure, whereas Canada spent 10.6% of GDP on healthcare. Accordingly, the healthcare expenditure rate of the US is more than that of Canada, as the US government invests more in R&D. Furthermore, socio-economic factors such as health, income, population base creates more business opportunity in the US as compared to Canada. Canada has a considerable market for genomic biomarkers owing to the significant number of patients suffering from cardiac diseases such as CVD, CHD, Stroke, hypertension and other heart diseases. Canada contributes significantly to the genomic biomarkers market due to huge investment in healthcare, R&D, and the adoption of innovative technologies in the healthcare domain.

The North American genomic biomarker market is segmented on the basis of application and end-user. On the basis of application, the market is segmented into oncology, cardiology, neurology, and others. There is a huge scope for the market in the oncology segment due to the increasing prevalence of cancer. A genomic biomarker can detect various types of diseases. However, most of the research institutes are majorly focused on oncology diagnosis and therapeutics. The genomic biomarker is widely used for the diagnosis of various types of cancer across the globe. On the basis of end-user, the market is segmented into hospitals and diagnostic.

The major players in the North American genomic biomarker market include Agilent Technologies, Inc., Qiagen N.V., Illumina, Inc., Myriad Genetics, Inc., Thermo Fischer Scientific, Inc., Genomic Health Inc., Bio-Rad Laboratories Inc., and Hologic, Inc. These players have been focusing on new product developments as well as upgrading their product portfolios to stay competitive in the market. Product launch, geographic expansion, and mergers and acquisitions are some of the key strategies adopted by the market players in the past few years. For instance, In July 2017, Agilent Technologies, Inc. introduced Agilent Sure select which is advanced high sensitivity Next-Generation Sequencing (NGS) target enrichment solution for research, sequence DNA from formalin-fixed paraffin-embedded samples.

Research Methodology

The market study of the North American genomic biomarker market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for healthcare companies, research institutes, hospitals, pharmaceutical, and biotechnology companies, potential investors and venture capitalists, government organizations, and other market participants for the overall market and competitive analysis. The report provides an in-depth analysis of the market size and future market opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. North American Genomic Biomarker Market Research and Analysis by Application
2. North American Genomic Biomarker Market Research and Analysis by End-User

The Report Covers

• Comprehensive research methodology of the North American Genomic Biomarker Market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the North American Genomic Biomarker Market.
• Insights about market determinants which are stimulating the North American Genomic Biomarker Market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.