Asia
Pacific Genomics Market Size and Growth Rate:
The Asia Pacific genomics market size was
estimated at USD 3.28 billion in 2018 and is expected to expand at a CAGR of
10.5% over the forecast period.
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120 Pages of Research Report developed on Asia Pacific Genomics Market @
Asia
Pacific Genomics Market Overview:
Extension of genomic data pool from research
activities has enabled biologists, physicians, and patients to further
investigate the genetic inclination to certain diseases. Clinical application
of this data pool is expected to play a significant role in transforming the
healthcare system with respect to the provision of more effective, accurate,
and reliable disease management solutions.
Asia
Pacific Genomics Market Growth Drivers and Restraints:
Increasing implementation of human genetic
studies into many public health programs such as consumer wellness applications
and population screening, aimed at optimizing precautionary care for common
chronic disorders will support market growth in Asia Pacific.
The growing investment by funding agencies,
government bodies, and biotechnology companies to accelerate research is
expected to drive the market further. The funding organizations like NIH and
Welcome Trust are engaged in giving funds for genetic studies, which, in turn,
is expected to feed genomic studies across the region.
One of the most important circumstances
anticipated to influence this market is how much and to what area the medical
community will make the use of available genomic data in personalized medicine.
Scientists are joining the data generated from sequencing with diagnostics,
which has shown effective in enhancing personalized treatment landscape.
Furthermore, biotechnology companies are using
gene editing devices to meet the unmet needs of patients through the
development of recombinant and genetically engineered products. The other
segment that includes agriculture research institutes, Direct-To-Consumers
(DTC), and forensic centers is estimated to hold the lowest penetration in the
market. This is essential because of less usage of genetic tools within these
entities. But, in the coming years, this segment is anticipated to witness
lucrative growth owing to the fact that DTC is getting significant attention
amongst government, consumers, and genomic companies.
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Asia
Pacific Genomics Market Geographical Segmentation:
The Asia Pacific is expected to witness the
accelerated growth in the coming years. Improving infrastructure in these
countries has led to an increased demand for biomarkers for diagnostics
purposes. Furthermore, rising adoption and information about a number of
genomics technologies in the emerging nations, such as China and India, for
detection, treatment, and prognosis of many genetic disorders including
diabetes and growth will support the region’s development.
Key players
of the Asia Pacific Genomics Market:
Some important players of the global genomics
market are Thermo Fisher Scientific, Inc., Illumina, Inc., QIAGEN N.V., Agilent
Technologies, Inc., Eurofins Scientific, GE Healthcare, BGI, Oxford Nanopore
Technologies, Bio-Rad Laboratories, Inc., and F. Hoffmann-La Roche Ltd.
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