China's precision medicine market has experienced an extraordinary surge, driven by cutting-edge technologies and advancements in healthcare. With an impressive Compound Annual Growth Rate (CAGR) of 12.9% the market has now surpassed the US$ 18.3 billion milestone. This remarkable growth signifies the increasing adoption of personalized treatment approaches, genomic sequencing, and targeted therapies, revolutionizing the landscape of healthcare in the nation.
The report "China Precision Medicine Market, By Applied Sciences (Genomics and Pharmacogenomics), By Digital Health and Information Technology (CDSS, Big Data Analytics, IT Infrastructure, Genome Informatics, In-Silicon Informatics, and Mobile Health), and By Application (Oncology, Infectious Diseases, Neurology/Psychiatry, Lifestyle & Endocrinology, Cardiology, and Gastroenterology) - Trends, Analysis and Forecast till 2030”.
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https://www.prophecymarketinsights.com/market_insight/Insight/request-sample/3665
Key Highlights:
• 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.
Analyst view:
From an analyst's perspective, China's precision medicine market exhibits immense potential for further expansion and innovation. The notable CAGR of 12.9% reflects the rising demand for tailored medical solutions, fueled by the growing understanding of genetic variations and their impact on individual health. The market's remarkable growth, surpassing the US$ 18.3 billion mark, indicates a significant shift towards personalized treatments, which can lead to improved patient outcomes and cost-effectiveness in the long run. As precision medicine gains traction in China, it is likely to attract increased investments from both domestic and international players, fostering a competitive landscape and fostering collaborations between research institutions and industry players. However, the sector may also face regulatory and ethical challenges, necessitating a balanced approach to ensure patient privacy, data security, and equitable access to these advanced healthcare solutions. Overall, analysts anticipate continued momentum in China's precision medicine market, making it a pivotal driving force in shaping the future of healthcare in the region.
Competitive landscape:
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.
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