Key Questions Answered in this Report:
- What are the major market drivers, challenges, and opportunities in the China precision medicine market?
- What are the underlying structures resulting in the emerging trends within the China precision medicine market?
- How will each segment of the China precision medicine market grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2029?
- What would be the compound growth rate witnessed by the leading players in the market during the forecast period 2019-2029?
- What are the key applications in China precision medicine market? What are the major segments of these applications?
- What are the major technologies that are employed in the China precision medicine market? Which is the current dominant technology?
- Who are the key manufacturers and service providers in the China precision medicine market, and what are their contributions? Moreover, what is the growth potential of each major precision medicine manufacturer and service provider?
China Precision Medicine Market Forecast, 2019-2029
The China Precision Medicine Industry projects the market to grow at a significant CAGR of 12.82% during the forecast period, 2019-2029. The China precision medicine market generated $4,919.7 million revenue in 2018, in terms of value.
The China Precision Medicine market growth is majorly driven by factors such as shifting the significance in medicine from reaction to prevention, government initiatives for the incorporation of precision medicine in China, lowering costs and advancement in sequencing technologies, and surge in underlying direct-to-consumer (DTC) genetic testing market in China. However, factors such as fragmented healthcare system in China, a lack of knowledge dissemination for advanced diagnostic capabilities, and a lack of a unified framework for big data integration hamper the overall market growth.
Expert Quote on the China Precision Medicine Market
“Announcement of the China Precision Medicine Initiative in 2016 has radically changed healthcare regimes in the country, with renewed focus being directed toward capitalizing the present genome sequencing boom in the country. Further, with the establishment of the China Precision Medicine Cloud by WuXi NextCODE and Huawei, cloud-based genomics is set to be the cornerstone of China’s precision medicine revolution.”
Scope of the Market Intelligence on China Precision Medicine Market
The China precision medicine market research provides a gain a holistic view of the China precision medicine market in terms of various factors influencing it, including regulatory reforms, and technological advancements.
The scope of this report is centered upon conducting a detailed study of the products and services allied with the precision medicine market. In addition, the study also includes exhaustive information on the unmet needs, perception on the new products, competitive landscape, market share of leading manufacturers, growth potential of each underlying sub-segment, and company, as well as other vital information with respect to China precision medicine market.
The China precision medicine market segmentation (on the basis of applied sciences) is further segmented into genomics, pharmacogenomics, and other applied sciences. Genomics is the prevalent applied sciences type in the China precision medicine market. This segment constitutes the majority shareholder in the applied sciences ecosystem for precision medicine and is also expected to continue dominating through 2029.
The China precision medicine market segmentation (on the basis of digital health and information technology) is segmented into CDSS, big data analytics, IT infrastructure, genome informatics, in-silicon informatics, and mobile health.
The China precision medicine market segmentation (on the basis of application) is segmented into oncology, infectious diseases, neurology/psychiatry, lifestyle and endocrinology, cardiology, gastroenterology, and other applications.
Key Companies in the China Precision Medicine Industry
The key manufacturers and service providers who have been contributing significantly to the china precision medicine market include Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd., BGI Genomics Co., Ltd., Illumina, Inc., Shanghai Fosun Pharmaceutical Group, WuXi AppTec, Berry Genomics Co., Ltd., Agilent Technologies, Inc., and PerkinElmer Inc., among others.