Asia-Pacific Precision Medicine Market Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2018–2023)- Market Data Forecast

Overview:

In the year 2018, Asia-Pacific Precision Medicine Market was valued at USD 11.08 Billion. By the year 2023, it is expected to reach USD 19.96 Billion at pace of 12.5% CAGR.

Precision medicine is an emerging approach to treating and preventing disease that takes into account individual variability in each person's genes, environment, and lifestyle. It also depends on patient’s ability of responding to that particular disease, which enables the doctors and researchers to organize the required treatment. Precision medicine commonly includes use of system biology and panomics to determine the reason for an individual patient's illness at the molecular level. Precision medicine offers many advantages such as efficient treatment customized to patient’s needs and category of disease. Moreover, precision medicine can reduce cost of treatment and helps to decrease repeated administration of medications.

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Underlying Causes

The growth for Asia-Pacific Precision Medicine Market is driven due to factors like rising prevalence of cancer and other chronic diseases, increasing collaborations and partnerships between companies, growing demand for personalized treatment, and rising healthcare expenditure. In addition, favorable government initiatives, technological advancement, and introduction of next-generation sequencing is expected to drive the market growth. However, high cost of devices, stringent government standards on approving new medicines are expected to hinder the growth rate for Asia-Pacific Precision Medicine Market during the forecast period.

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Geographic Segmentation:

Based on geography the Asia-Pacific Precision Medicine Market has been primarily divided into China, India, South Korea, Japan and Australia. Asia-Pacific regions like India and China are rapidly growing due to increasing aging population, favorable reimbursement policies, and rising investments for R&D activities are expected contribute high growth rate for Asia-Pacific Precision Medicine Market during the forecast period.

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Key Players:

Leading companies for Asia-Pacific Precision Medicine Market are Pfizer, Roche, Covance, Novartis, Qiagen, Biocrates Life Sciences, Teva Pharmaceutical, Nanostring Technologies, Laboratory Corporation of America Holdings, Tepnel Pharma Services, Intomics, Ferrer InCode, Silicon Biosystems, Eagle Genomics, Medtronic, and Quest Diagnostics.

About MarketDataForecast™

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Contact Information:

Name: Mr. Abhishek Shukla
Email: abhishek@marketdataforecast.com
Organization: MarketDataForecast™
Address: 2nd Floor, Above ICICI Bank Filmnagar Branch, B 44, Rd Number 3, Journalist Colony, Hyderabad, Telangana 500033.Phone: +1-888-702-9626

Market Data Forecast is a market research firm offering syndicated research, consults and industry newsletters across various domains & verticals. With a well-established in-house team of experts from diverse fields and outsource research network across 100+ countries, we are the sole research providers for the majority of Fortune 500 companies. Along with the standards of reports being on par excellence, our unique services like free customization, analyst support for the period of six months post to the purchase will be the flag bearers and differentiates us from the rest. Our experience and in-depth understanding of various business environments will be a support to you and your organization in making well-informed decisions.

Contact Information:

Name: Mr. Abhishek Shukla
Email: abhishek@marketdataforecast.com
Organization: MarketDataForecast™
Address: 2nd Floor, Above ICICI Bank Filmnagar Branch, B 44, Rd Number 3, Journalist Colony, Hyderabad, Telangana 500033.Phone: +1-888-702-9626

2nd Floor, Lakeview Plaza, Kavuri Hills, Hyderabad, Telangana 500033, India.

This release was published on openPR.