(Australia-NewsWire.Com, February 09, 2018 ) Precision Medicine is the ability to classify individuals into subpopulations that differ in their susceptibility to a particular disease, in the biology and/or prognosis of those diseases they may develop, or in their response to a specific treatment.According to the report Asia Pacific Precision Medicine Market, published by Market Data Forecast, the Market has been estimated at USD 8.91 Billion in 2016 and is projected to reach USD 16.06 Billion by 2021, at a CAGR of 12.5% during the forecast period from 2016 to 2021.
The market for Precision Medicine is mainly driven due to recent research advances which have helped expand benefits to various aspects of healthcare by enabling better understanding of disease mechanisms, assessment of disease risks and prediction of optimal therapy. But, the market growth can be restrained due to risks of data sharing and governmental regulations and standards on medicines, devices and treatments.
Asia Pacific market for Precision Medicine is segmented based on Technology and Application. By Technology, the market is further sub-segmented into Big Data Analytics, Bioinformatics, Gene Sequencing, Drug Discovery, Companion Diagnostics and Others. By Application, the market is further sub-segmented into Oncology, CNS, Immunology, Respiratory and Others. By Application, oncology segment holds the largest market share, followed by the CNS and immunology segments. By Technology, drug discovery market holds the largest share, followed by gene sequencing and companion diagnostics. Big data analytics is expected to grow at the highest CAGR.
Geographically, Asia-Pacific market for Precision Medicine is segmented into China, India, Japan, South Korea and Australia. The Precision Medicine market in the Asia-Pacific region is projected to grow at the highest CAGR, which is greatly due to increasing aging population. Initiatives from the government and contributions from academic laboratories helped augment growth. Favorable reimbursement policies are also driving the market in this region, by attracting the global market players to expand their businesses.
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, are the major players of Asia-Pacific Precision Medicine market.
The scope of the report provides:
The evaluation of the current market for your product or services and the future implications of the market
Addresses the opportunities by better understanding the market through size estimates and growth rate analysis to forecast the market for the future
Extensive segmentation to understand the dynamics of market at a very granular level by splitting down the market to the smallest segment
Addresses the key market dynamics involving the drivers, restraints and challenges with an aim of providing insights for gaining market share
The factors responsible for the shaping of the industry as it is as a result of competitive environment is analyzed through Porter’s Five Forces
The effects of political, economic, social, technological, legal and environmental factors on the industry is analyzed through PESTLE analysis to better understand the aspects of strategic management required to comply with the exogenous and endogenous factors
Strategic evaluation of the key players to gain insights of their performance allowing access to their product portfolio, financial performance and the strengths of their business strategic developments
Comparative study of the firms across the industry measuring their performances based on market share and recent activities in order to achieve competitive intelligence
Equip you with the information providing with the investment opportunities in the industry
About Us:
Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, we cater to the needs of both individual and corporate clients. Our analyst team comprises expert professionals in market research, who with their collective knowledge and skillset dedicatedly serve clients from various industries and regions.