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Chinese Precision Medicine Market Set to Witness a Robust CAGR of 12.82% Over 2019-2029 - Cloud-Based Genomics Set to Be the Cornerstone of China's Precision Medicine Revolution

/EIN News/ -- Dublin, Aug. 12, 2019 (GLOBE NEWSWIRE) -- The "China Precision Medicine Market: Focus on Ecosystems, Applications, and Competitive Landscape - Analysis and Forecast, 2019-2029" report has been added to's offering.

The report 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

Announcement of the China Precision Medicine Initiative in 2016 has radically changed healthcare regimes in the country, with the 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

The China precision medicine market research provides 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, the growth potential of each underlying sub-segment, and company, as well as other vital information with respect to China precision medicine market.

Market Segmentation

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

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.

Research Highlights

  • The emergence of several advancements in the precision medicine industry, spear-headed by the insurgence of Direct-to-Consumer (DTC) genetic testing services, has revolutionized health regimes by largely targeting chronic diseases that need to be addressed immediately. With rapid developments taking place at an escalating pace, the industry is consistently evolving to provide more precise care.
  • In 2018, the applied sciences ecosystem was acknowledged as the major contributor to the China precision medicine market and is expected to grow at a CAGR of 10.64% during the forecast period 2019-2029.
  • In 2018, the digital health and information technology ecosystem was acknowledged as the fastest-growing ecosystem within the China precision medicine market, expected to grow at a CAGR of 14.09% during the forecast period 2019-2029.
  • Oncology is expected to witness a robust CAGR of 12.04% during the forecast period 2019-2029. However, the precision medicine market for cardiology is anticipated to witness the fastest growth of 15.61% during the forecast period 2019-2029.
  • Thermo Fisher Scientific Inc. is currently the largest shareholder in the China precision medicine market. This market dominance is attributed to the company's presence within the market through its expansive product portfolio and due to significant marketing activities.

Key Trends Targeted in the Report

  • What are the emerging trends in the China precision medicine market? How are these trends revolutionizing the treatment procedure?
  • Which technologies are anticipated to break through the current precision medicine regime?
  • Which companies are anticipated to be highly disruptive in the future and why?
  • What are the regulatory procedures that are required to unify the approval process for emerging precision medicine products? How will these enhance the reimbursement scenario?
  • What are the gaps in regularizing optimum precision medicine adoption in regular healthcare routines? How are these gaps being tackled?

Key Topics Covered

1 Market Overview
1.1 Precision Medicine: A Frontier in the Genesis of Patient-centric Medicine
1.2 Market Definition
1.3 The China Precision Medicine Initiative
1.4 Classification of China Precision Medicine Market
1.5 Market Footprint
1.6 Future Potential

2 Market Dynamics
2.1 Overview
2.2 Impact Analysis
2.3 Market Drivers
2.3.1 Shifting the Significance in Medicine from Reaction to Prevention
2.3.2 Government Initiatives for the Incorporation of Precision Medicine in China
2.3.3 Lowering Costs and Advancement in Sequencing Technologies
2.3.4 Surge in Underlying Direct-to-Consumer (DTC) Genetic Testing Market in China
2.4 Market Restraints
2.4.1 Fragmented Healthcare System in China
2.4.2 Lack of Knowledge Dissemination for Advanced Diagnostic Capabilities
2.4.3 Lack of a Unified Framework for Big Data Integration
2.5 Market Opportunities
2.5.1 Creation of a China-focused Population Database
2.5.2 Growing Demand for Health Security
2.5.3 Stakeholder-focused Strategies to Enable Global Partnerships and Overall Industry Growth in China

3 Competitive Landscape
3.1 Key Strategies and Developments
3.1.1 Synergistic Activities
3.1.2 Product Approvals
3.1.3 Business Expansion and Funding Activities
3.1.4 Product Launches and Enhancements
3.1.5 Acquisitions
3.2 Market Share Analysis, 2017 and 2018
3.3 Growth Share Analysis, 2018

4 Regulatory Framework
4.1 The National Medical Products Administration (NMPA)
4.2 Medical Device Regulations - NMPA
4.3 NMPA Medical Device Registration - The Current Scenario

5 China Precision Medicine Market (by Ecosystem), 2018-2029, ($Million)
5.1 Overview
5.2 Applied Sciences
5.2.1 China Precision Medicine Market (by Genomics) China Precision Medicine Market (by Genomics, by Technology) Polymerase Chain Reaction (PCR) Next-Generation Sequencing (NGS) Genome Editing Other Technologies
5.2.2 China Precision Medicine Market (by Pharmacogenomics) China Precision Medicine Market (by Pharmacogenomics, by Services) China Precision Medicine Market (by Pharmacogenomics, by End Users)
5.2.3 China Precision Medicine Market (by Other Applied Sciences)
5.3 Precision Therapeutics
5.3.1 China Precision Medicine Market (by Clinical Trials)
5.3.2 China Precision Medicine Market (by Cell Therapy)
5.3.3 China Precision Medicine Market (by Drug Discovery and Research)
5.3.4 China Precision Medicine Market (by Gene Therapy)
5.4 Digital Health and Information Technology (DHIT)
5.4.1 China Precision Medicine Market (by CDSS)
5.4.2 China Precision Medicine Market (by Big Data Analytics)
5.4.3 China Precision Medicine Market (by IT Infrastructure)
5.4.4 China Precision Medicine Market (by Genome Informatics)
5.4.5 China Precision Medicine Market (by In-silico Informatics)
5.4.6 China Precision Medicine Market (by Mobile Health)
5.5 Precision Diagnostics
5.5.1 China Precision Medicine Market (by Molecular Diagnostics) China Precision Medicine Market (by NIPT) China Precision Medicine Market (by Companion Diagnostics) China Precision Medicine Market (by Liquid Biopsy) China Precision Medicine Market (by Other Molecular Diagnostics)
5.5.2 China Precision Medicine Market (by Medical Imaging) China Precision Medicine Market (by Image Analytics) China Precision Medicine Market (by Imaging CAD)

6 China Precision Medicine Market (by Application), 2018-2029, ($Million)
6.1 Overview
6.2 China Precision Medicine Market (by Oncology)
6.3 China Precision Medicine Market (by Infectious Diseases)
6.4 China Precision Medicine Market (by Neurology/Psychiatry)
6.5 China Precision Medicine Market (by Lifestyle and Endocrinology)
6.6 China Precision Medicine Market (by Cardiology)
6.7 China Precision Medicine Market (by Gastroenterology)
6.8 Other Applications

7 Company Profiles
7.1 Overview
7.2 Agena Biosciences Inc.
7.2.1 Company Overview
7.2.2 Role of Agena Biosciences in the China Precision Medicine Market
7.2.3 SWOT Analysis
7.3 Agilent Technologies, Inc.
7.4 Berry Genomics Co. Ltd.
7.5 Beijing Genomics Institute (BGI) Genomics Co. Ltd.
7.6 Danaher Corporation
7.7 DiaCarta Inc.
7.8 F. Hoffmann-La Roche Ltd.
7.9 Illumina, Inc.
7.10 Novogene Corporation
7.11 PerkinElmer, Inc.
7.12 Shanghai Fosun Pharmaceutical (Group) Co. Ltd.
7.13 Shuwen Biotech Co. Ltd.
7.14 Thermo Fisher Scientific Inc.
7.15 WuXi AppTec Co. Ltd.
7.16 Xiamen Aide Biomedical Technology Co. Ltd.
7.17 Chengdu 23Mofang Biotechnology Co. Ltd.
7.18 iCarbonX Group Limited
7.19 WeGene

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