An overview of the “Asia-Pacific Precision Medicine Market” the current state of the industry, market trends, significant market participants, product type, application, and geography are provided at the beginning of the study. It also covers how COVID-19 has affected market participants, end-user industries, future predictions, growth potential, and worldwide market trends.
The Asia-Pacific Precision Medicine Market is projected to grow at a compound annual growth rate (CAGR) of 16.63%, leading to a revenue of USD 20.90 Bn by 2023.
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Asia-Pacific is the fastest growing precision medicine market in the world. Major countries like China, India and Japan are adopting healthcare technologies at a rapid pace, resulting in improvements in the treatments and solutions for uncommon diseases. This is why the demand for precision medicine is also increasing. The market is expected to expand in the region because of advancements in recent research which are helping in the diagnosis of diseases, its appropriate risks and optimal therapy.
China is dominating the precision medicine market due to its ageing population and rise in the rate of chronic diseases. India is experiencing the fastest growth in the Asia- Pacific region. Rising investments in research and development have also triggered the growth of the precision medicine market.
Key Companies Covered in the Asia-Pacific Precision Medicine Market Research are Pfizer, Novartis, Teva pharmaceuticals Industries and other key market players.
The Asia-Pacific precision medicine market is classified into three primary segments: based on ecosystem players: pharmaceuticals and biotech companies, clinical laboratories, diagnostic companies and healthcare IT specialists/big data companies; based on therapeutics: cancer, cardiovascular, central nervous system, psychiatric disorder and infectious diseases; and based on technology: big data analytics, bioinformatics, gene sequencing, pharmacogenomics and companion diagnostics.
Diagnostic tool companies are expected to exhibit the highest growth rate in the region due to increased investments in research and technology, and clinical trials in the region. The cancer therapeutics segment is expected to register the highest growth rate during the forecasted period 2018-2023 due to higher incidence of cancer.
Key growth factors
The adoption of gene therapy – which is essential for the development of precision medicine – is responsible for the growth of the market. Further, the increasing rate of chronic diseases and enhancements in big data analytics will also drive the precision medicine market during the forecasted period of 2018-2023.
Asia-Pacific is expected to become one of the most prominent markets by 2023 for precision medicine because of favorable reimbursement policies which will help businesses expand across borders.
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Threats and key players
There is limited adoption (less than 50%) of electronic health records in Asia-Pacific countries like India, Indonesia, etc. This is resulting in the absence of proper healthcare information systems, which are important components of precision medicine to capture vital patient data. This limits the deployment of advanced healthcare solutions like precision medicine.
The adoption of high-end genomic technologies and artificial intelligence tools like N-of-One, WuxiNextCode, etc., are expected to face difficulties in the region due to inadequate healthcare facilities.
Whats covered in the report?
1. Overview of the Asia-Pacific precision medicine market.
2. Market drivers and challenges in the Asia-Pacific precision medicine market.
3. Market trends in the Asia-Pacific precision medicine market.
4. Historical, current, and forecasted market size data for the segments of the Asia-Pacific precision medicine market, based on ecosystem players (pharmaceuticals and biotech companies, clinical laboratories, diagnostic companies and healthcare IT specialists/big data companies) by revenue (USD Bn).
5. Historical, current and forecasted market size data for the segments of the Asia-Pacific precision medicine market , based on therapeutics (cancer, cardiovascular, central nervous system, psychiatric disorder and infectious diseases) by revenue (USD Bn).
6. Historical, current and forecasted market size data for the Asia-Pacific precision medicine market segmentation by technology (big data analytics, bioinformatics, gene sequencing, pharmacogenomics and companion diagnostics) – by revenue (USD Bn).
7. Historical, current and forecasted country-wise (China, India and Japan) market size data (USD Bn) for the Asia-Pacific precision medicine market and its segmentations by ecosystem players (pharmaceuticals and biotech companies, clinical laboratories, diagnostic companies and healthcare IT specialists/big data companies), by therapeutics (cancer, cardiovascular, central nervous system, psychiatric disorder and infectious diseases), and by technology (big data analytics, bioinformatics, gene sequencing, pharmacogenomics and companion diagnostics).
8. Analysis of the competitive landscape and profiles of major companies operating in the market.
Why buy?
1. Understand the demand for the precision medicine to determine the viability of the market.
2. Identify the developed and emerging markets where precision medicine market is provided.
3. Identify the challenges and address them.
4. Develop strategies based on the drivers, trends and highlights for each of the segments.
5. Evaluate the value chain to determine the workflow and get an idea of the current position.
6. Recognize the key competitors of this market and respond accordingly.
7. Knowledge of the initiatives and growth strategies of the major companies and decide on the direction for further growth.
8. Define the competitive positioning by comparing the products and services with the key players in the market.
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
Highlight the Following Key Factors:
- Business Description: a particular description of agency operations and enterprise departments.
- Company Strategy: The analyst’s precis of the company’s commercial enterprise strategy.
- SWOT Analysis: Detailed evaluation of the company’s strengths, weaknesses, opportunities, and threats.
- Company History: The development of predominant occasions associated to the company.
- Main merchandise and services: A listing of the company’s fundamental products, services, and brands.
- Main Competitors: A listing of the company’s fundamental competitors.
- Important places and subsidiaries: The company’s major places and subsidiaries’ listing and contact information.
- Detailed economic ratios of the previous 5 years: The trendy monetary ratios come from the annual economic statements issued by means of agencies with a record of 5 years.
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