China Precision Medicine Market By Overview
China Precision Medicine Market is a medical model for low-cost prevention, high-efficiency, and treatment of diseases personalized to individual patients based on their genetic makeup. Precision medicine can also help save money, as hospitals and doctors can prevent prescribing drugs and treatments that do not identifying quickly and work for the right treatment. In China, according to World Economic Forum’s precision medicine project lead, China is ranking itself as a global leader in precision medicine, the use of a person’s genetic information to treat and diagnose diseases. China has an historical advantage because Chinese herbal medicine was always tailored to the individual Fourth Industrial Revolution in China will be on advances in precision medicine.
Shifting the significance in medicine from reaction to prevention is the major factor driving growth of the China precision medicine market. In addition, increasing government initiatives for the incorporation of precision medicine in China is also boosting growth of the target market. Increasing cases of breast cancer in Chinese’s women is also expected to drive growth of the target market over the forecast period. According to data published by Science Translational Medicine Journal in 2016, it is estimated that 268,600 new breast cancer cases were diagnosed in Chinese women in 2015.
Breast cancer accounted for 15% of all new cancer cases in Chinese women, and it is the leading cause of cancer death in Chinese women younger. However, factors such as fragmented healthcare system in China, a lack of a unified framework for big data integration and a lack of knowledge dissemination for advanced diagnostic capabilities hamper growth of the market. Nevertheless, advancement in sequencing technologies, lowering costs and surge in underlying direct-to-consumer (DTC) genetic testing market in China is the major trend observed for the growth of the targeted market.
The China precision medicine market is segmented based on applied sciences, digital health and information technology, and application. Based on applied sciences, the target market is segmented into genomics and pharmacogenomics. Genomics segment in China is dominating the market due to its leading way in data collection and analysis tools to understand human genetics and biology. The Beijing Genome Institute is the world’s largest repository and sequencer of genetic material – the DNA code that makes each individual unique. On the basis of digital health and information technology, the China precision medicine market is bifurcated into CDSS, big data analytics, IT infrastructure, genome informatics, in-silicon informatics, and mobile health. Based on application, the target market is segmented into oncology, infectious diseases, neurology/psychiatry, lifestyle & endocrinology, cardiology, and gastroenterology.
Key players operating in the China precision medicine market includes Thermo Fisher Scientific Inc., BGI Genomics Co., Ltd., F. Hoffmann-La Roche Ltd., Illumina, Inc., Shanghai Fosun Pharmaceutical Group, WuXi AppTec, Berry Genomics Co., Ltd., Agilent Technologies, Inc., and PerkinElmer Inc. Key players operating in the target market are focusing in new launches. For instance, In November 2019, Thermo Fisher Scientific has launched its Ion Torrent Genexus System, the first fully integrated, next-generation sequencing (NGS) platform featuring an automated specimen-to-report workflow that sends results economically in a single day. The company also introduced its Oncomine Precision Assay, an innovative pan-cancer panel for the Genexus platform. It offers comprehensive genomic profiling from formalin-fixed, paraffin-embedded (FFPE) tissue and liquid biopsy samples with a single assay.
Detailed Segmentation:
China Precision Medicine Marker, By Applied Sciences:
- Genomics
- Pharmacogenomics
China Precision Medicine Marker, By Digital Health and Information Technology:
- CDSS
- Big Data Analytics
- IT Infrastructure
- Genome Informatics
- In-Silicon Informatics
- Mobile Health
China Precision Medicine Marker, By Application:
- Oncology
- Infectious Diseases
- Neurology/Psychiatry
- Lifestyle & Endocrinology
- Cardiology
- Gastroenterology
Company Profile:
- Thermo Fisher Scientific Inc.*
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- BGI Genomics Co., Ltd.
- Hoffmann-La Roche Ltd.
- Illumina, Inc.
- Shanghai Fosun Pharmaceutical Group
- WuXi AppTec
- Berry Genomics Co., Ltd.
- Agilent Technologies, Inc.
- PerkinElmer Inc.
“*” marked represents similar segmentation in other categories in the respective section
FAQs
The China Precision Medicine market accounted for US$ 357.32 million in 2019 and is projected to register a moderate CAGR of 28.17% over the forecast period.
The market report has been segmented based on the property type.
the integration of genomics and big data analytics, the focus on cancer precision medicine, and the development of targeted therapies, presenting significant opportunities in the China Precision Medicine Market.
increasing burden of chronic diseases, advancements in genomics and molecular diagnostics, government initiatives supporting precision medicine, and a growing awareness of personalized healthcare among the Chinese population.
The report covers China. Since it's a country-specific market analysis, there may not be a region comparison. Within China, key cities like Beijing, Shanghai, and Shenzhen are often considered influential hubs for precision medicine initiatives, driven by advanced healthcare infrastructure and research capabilities.
The prominent player operating in the Australia Plastic Packaging market includes Thermo Fisher Scientific Inc., BGI Genomics Co., Ltd., F. Hoffmann-La Roche Ltd., Illumina, Inc., Shanghai Fosun Pharmaceutical Group, WuXi AppTec, Berry Genomics Co., Ltd., Agilent Technologies, Inc., and PerkinElmer Inc.