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    Asia Pacific Precision Medicine Market Forecast 2027 By Product Type (Diagnostics {Genetic Tests, Biomarker Based Tests}, Therapeutics), By Application (Oncology, CNS, Immunology, Respiratory), By End-use (Hospitals, Diagnostic Centers, Research & Academic Institutes), Research Report, Country Outlook (China, Japan, India, South Korea, Australia, Singapore, Taiwan, Hong Kong, Indonesia), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
    Published Date: September 2021   |   Report ID: GR1952   |   Delivery: PDF  Request Free Sample

    Asia Pacific Precision Medicine Market size was over USD 11 billion in 2020 and is estimated to observe around 12.3% growth rate between 2021 and 2027. Increasing research and development for the selection of the most efficient treatment based on molecular analysis of tumours as well as preclinical studies resulting in increased adoption of gene therapy will propel the market expansion.

    Asia Pacific Precision Medicine Market

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    Asia Pacific is likely to emerge as a major market owing to the high prevalence of chronic diseases in countries such as India and China. Recent significant advances in the field of gene therapy along with several clinical benefits will drive the precision medicine market demand. In addition, increasing demand for gene therapy in the treatment of various cancer and chronic diseases will boost the industry growth.

    Asia Pacific Market, By Product Type

    Diagnostics product segment size is poised to grow at 13.8% CAGR through 2027. The diagnostics segment is further diverged into genetic tests as well as biomarker-based tests, and others. Diagnostic testing plays a crucial role in the precision medicine approach for the selection of appropriate treatment based on patient’s genetic makeup. Numerous treatments based on such diagnosis further leads to accurate treatment results.

    Asia Pacific Market, By Application

    Asia Pacific Precision Medicine Market, By Application

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    The CNS application segment accounted for 14% market share in 2020, due to rising prevalence of CNS throughout the Asia Pacific. CNS disorders such as Alzheimer’s disease, multiple sclerosis, epilepsy, and others affect several lives of people. Therefore, rising incidence of such health disorders will accelerate the demand for precision medicine for effective patient care.

    Asia Pacific Market, By Country

    China precision medicine market will exhibit 11.5% CAGR during the forecast period. China is one of the foremost leaders in the precision medicine business. The country is widely investing in the scientific research to understand the biological and genetic make-up of people along with computing capabilities to make discoveries from large quantities of data. Similarly, China is leading a way in analysis tools and data collection to broadly understand biology and human genetics.

    Asia Pacific Market, By End-use

    The diagnostic centers accounted for around USD 2.7 billion revenue in 2020. With rising healthcare infrastructure and expenditure, the number of diagnostic centers are rapidly expanding in the Asia Pacific region. Additionally, diagnostic centers are capable of handling large number of samples with high accuracy and precision.

    Competitive Industry Landscape

    Key companies operating in the Asia Pacific precision medicine market include Qiagen, Medtronic, Quest Diagnostics, Novartis, Abbott Laboratories, F. Hoffmann-La Roche AG, bioMérieux SA, Eli Lilly & Company, AstraZeneca, Glaxosmithkline, Cancer Genetics, Cepheid, Thermo Fisher Scientific, Bristol-Myers Squibb, Myriad Genetics and Pfizer. The market players are focusing on different strategies to maintain strong foothold in the market.

    Frequently Asked Question(FAQ) :

    How big is Asia Pacific precision medicine market?
    The industry share for precision medicine in Asia Pacific was surpassed USD 11 billion in 2020 and will register around 12.3% over 2021-2027 with increased R&D for efficient treatment options and growing adoption of gene therapy.
    How will CNS applications boost Asia Pacific precision medicine industry growth?
    The CNS application held around 14% of APAC market in 2020 and will expand with the surging prevalence of diseases like multiple sclerosis, epilepsy, and Alzheimer’s disease through the region.
    Why is the adoption of precision medicine growing across diagnostic centers?
    The market share for precision medicine in APAC from use in diagnostic centers was over USD 2.7 billion in 2020 due to increased healthcare expenditure and the proficiency of these centers to manage a huge volume of samples, with significant accuracy and precision.
    What factors will drive China precision medicine sector?
    The market for precision medicine in China will register a CAGR of 11.5% through 2027 owing to the extensive investments in scientific research for understanding the genetic and biological make-up of people, along with access to robust computing power.
    Who provides precision medicine in Asia Pacific?
    Leading companies in APAC industry include Abbott Laboratories, Bristol-Myers Squibb, Quest Diagnostics, F. Hoffmann-La Roche AG, Eli Lilly & Company, AstraZeneca, Pfizer, and many others.

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