The Asia-Pacific precision medicine market is deemed to display growth at 10.53% of CAGR during the examined years 2021-2028.
The countries assessed in this market include:
• Australia & New Zealand
• South Korea
• ASEAN countries
• Rest of APAC
The increase in healthcare awareness, along with the adoption of advanced diagnosis methods, are motivating the growth of the market in the Asia-Pacific region. Along with this, the growing population and the surge in incidence rates of chronic conditions have enhanced the need for sequencing technologies across the region. This step is likely to fuel the demand for genome mapping programs, in turn, boosting the precision medicine market on a growth path.
In the region, China is positioning itself as a global leader in precision medicine by using a patient’s genetic information to diagnose and treat various conditions. Additionally, the government is encouraging data sharing, which will open new avenues for AI companies in the healthcare sector. For instance, Shenzhen’s Beijing Genomic Institute is among the largest genetic material sequencers, helping in multiple precision diagnostics and treatments.
Furthermore, China is focusing on the treatment of heart diseases and specific cancers, including stomach cancers. Also, efforts are being taken to treat other conditions, such as metabolic and aging-related conditions. These factors indicate a robust growth of the precision medicine market in China in the next few years.
Novartis AG is a leading pharmaceutical company having a firm focus on diverse biopharmaceutical segments. It is primarily involved in R&D, manufacture, and distribution of medicines, eye products, and generic pharmaceutical products. The company’s comprehensive product portfolio includes kymriah, the first-ever CAR-T therapy approved by the FDA. It is a one-time treatment that helps to stimulate a patient’s immune system to fight against cancer. Novartis has operations across various regions, including the Asia-Pacific.
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1. ASIA-PACIFIC PRECISION MEDICINE MARKET - SUMMARY
2. INDUSTRY OUTLOOK
2.1. KEY INSIGHTS
2.1.1. PRESENCE OF BIOPHARMACEUTICAL COMPANIES
2.1.2. INVESTMENTS IN GENE THERAPY
2.2. IMPACT OF COVID-19 ON PRECISION MEDICINE MARKET
2.3. SUPPLY CHAIN OUTLOOK
2.4. ETYMOLOGY OF PRECISION MEDICINE
2.5. PORTER’S FIVE FORCES MODEL
2.6. MARKET ATTRACTIVENESS INDEX
2.7. VENDOR LANDSCAPE
2.8. KEY MARKET STRATEGIES
2.8.1. CONTRACTS AND PARTNERSHIPS
2.8.2. BUSINESS EXPANSION & DIVESTITURES
2.8.3. ACQUISITIONS & MERGERS
2.8.4. NEW PRODUCT LAUNCHES
2.9. MARKET DRIVERS
2.9.1. HIGH PREVALENCE OF CHRONIC DISEASES IN THE AGING POPULATION
2.9.2. DIGITAL COLLABORATION AMONG RESEARCH GROUPS AND ORGANIZATIONS
2.9.3. IDENTIFICATION OF GENETIC MAKEUP IN THE HUMAN GENOME
2.10. MARKET CHALLENGES
2.10.1. STRINGENT DRUG APPROVAL PROCESS
2.10.2. SECURITY THREATS PERTAINING TO DATA SHARING
2.10.3. CHANGES IN REIMBURSEMENT AND REGULATORY PROCESS
2.11. MARKET OPPORTUNITIES
2.11.1. INVESTMENTS BY GOVERNMENT AND PRIVATE PLAYERS IN CANCER TREATMENT
2.11.2. DEMAND FOR PREVENTIVE CARE
3. ASIA-PACIFIC PRECISION MEDICINE MARKET - BY APPLICATION