“Asia-Pacific Precision Medicine Market” research report, published by Market Data Forecast estimates that the market is growing at a CAGR of 12.5% to reach USD 16.06 billion by 2021, from USD 8.91 billion in 2016, which amounts to a cumulative growth of USD 7.15 billion.
Precision model is a medical model that presents the healthcare customization with medical practices, decisions or products which are being given to the patient. For selection of optimal and appropriate therapies regarding patient’s genetic or other data, diagnostic testing can be used in this model.
The capability to make precision medicine available to patients in regular clinical settings relies upon the possibility of molecular profiling tests. Precision medicine can involve the usage of customized medical products for the treatments which are produced by pharmacy compounding. It also prevents harmful interactions of the drugs, rising efficiency when medications are prescribed and reduction of healthcare costs. . Internationally, most of the industrialized nations are spending a huge part of their GDP on healthcare necessities. The US is set to devote almost 20% of its GDP on healthcare by 2017, a higher proportion than any other developed country.
The report also presents detailed analysis of multitude of factors affecting the diagnostic imaging market bearing either positive or negative outcomes. Some of those factors are
- Rising efforts for genes categorization,
- Rising demand for personal treatments,
- Innovations in the technology,
- Advancements in the field of cancer biology,
- Risk involved in sharing the data,
- Reduction in pharmaceutical products market.
For granular level understanding the Precision Medicine Market is segmented based on technology and application, each being provided with Market Size Estimations and Y-o-Y Forecasts.
Based on Technology the market is segmented as Big Data Analytics, Bioinformatics, Gene Sequencing, Drug Discovery, Companion Diagnostics and Others. Based on Application it is further segmented into Oncology, CNS, Immunology, Respiratory and Others.
India and China are the major economies which have unexplored customer base covered in the study. The report also focuses on other regions like Japan, Australia, South Korea and Rest of Asia-Pacific. Oncology application is estimated to possess the major chunk of the market thereby, leading the market to grow at a higher rate.
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Some of the key players that operate in the Asia-Pacific Precision Medicine market include Pfizer, Roche, Covance, Novartis, Qiagen, Biocrates Life Sciences, Teva Pharmaceutical, Nanostring Technologies, Laboratory Corporation of America Holdings and Tepnel Pharma Services. Due to technological advancements and increasing of aged population there is an increase in the competition among key players.
The Asia- Pacific Precision Medicine market report offers wide-range of scope:
- Regional and country-level analysis that provides an individual perspective of Asia-Pacific region and the aforementioned countries
- Know more about key areas of industry growth via detailed Segment-level analysis on basis of technology, end-user, along with market size forecasts and y-o-y estimations
- Detailed explanation of major drivers, restraints, opportunities, and challenges (DROC) that affect the market and impact the ever-shifting market dynamics
- Strategic Analyses containing PESTLE and Porter’s Five Forces Analyses which are obtained by studying the macro & micro environmental factors that affect the market demographics
- Comprehensive listing of key market players along with Company overview, product portfolios, financials (subjected to availability), SWOT analysis and analyst overview
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Market Outlook – Investment opportunities devised by stand in experts to provide both individuals and organizations a strong financial foothold in the market
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