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.

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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

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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.