Asia-Pacific Precision Medicine Market to Grow at a CAGR of 16.63% with revenue of USD 20.90 Billion | Key Vendors – Pfizer, Novartis, Teva
Asia-Pacific Precision Medicine Market Synopsis:
According to Market Analyst, 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 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 Precision Medicine Market can be segmented on the Basis of ecosystem players, therapeutics and technology. On the Basis of ecosystem players, Asia-Pacific Precision Medicine Market can be sub segmented into pharmaceuticals and biotech companies, clinical laboratories, diagnostic companies and healthcare IT specialists/big data companies. 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.
Based on therapeutics, Market Can be segmented into cancer, cardiovascular, central nervous system, psychiatric disorder and infectious diseases. The cancer therapeutics segment is expected to register the highest growth rate during the forecasted period 2018-2023 due to higher incidence of cancer. Based on technology, Market can be segmented into big data analytics, bioinformatics, gene sequencing, pharmacogenomics and companion diagnostics.
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Based on countries, 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.
The Market is segmented and projected on the basis of major key player’s:
3 Teva pharmaceuticals Industries etc.
Market segment by Regions/Countries, this report covers:
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The prime objective of this report is to help the user understand the market in terms of its definition, segmentation, market potential, influential trends, and the challenges that the market is facing. Deep researches and analysis were done during the preparation of the report. The readers will find this report very helpful in understanding the market in depth. The facts and data are represented in the report using diagrams, graphs, pie charts, and other pictorial representations. This enhances the visual representation and also helps in understanding the facts much better.
Key Questions Answered in this Report:
1 What will the market size be in 2023?
2 What is driving this market??
3 What are the challenges to market growth?
4 Who are the key players in Precision Medicine Market?
5 What are the market opportunities and threats faced by the key players?
TABLE OF CONTENTS
1 Executive summary
2 Asia-Pacific precision medicine market - overview
3 Asia-Pacific precision medicine market- by countries
4 Competitive landscape
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