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Asia Pacific Genomics Market to 2025 - Regional Analysis and Forecasts by Technology, Product & Service, Application End User, and Country

Asia Pacific Genomics Market to 2025 - Regional Analysis and Forecasts by Technology, Product & Service, Application End User, and Country

  • April 2019
  • 186 pages
  • ID: 5774491
  • Format: PDF
  • By The Insight Partners

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The Asia Pacific genomics market is expected to reach US$ 7.6 Bn in 2025 from US$ 3.2 Bn in 2017. The market is estimated to grow with a CAGR of 10.6% from 2018-2025.
The growth of the genomics market is primarily attributed to the increasing number of start-up companies and medical genetics in developing countries.However, nonexistence of skilled professionals and perception of the people for genetic alteration are likely to pose a negative impact on the market growth.

On the other hand, rising demand in genomics for medical applications is likely to have a positive impact on the growth of the Asia Pacific genomics market in the coming years.
The increasing advances in genetic and genomic technology have changed the healthcare services rapidly in low and middle income countries (LMICs) in the Asia-Pacific region.Although, genetic services were initially focused on population-based disease prevention strategies and then evolved into clinic-based and therapeutics-oriented services.

Many health-care systems in the region were unprepared for the needs of a clinical genetic service and have struggled to cope with both, communicable and non-communicable diseases.The combination of demands from a large emerging middle class population, the lack of regulatory oversight and capacity-building in medical genetics expertise help to upsurge the demand for the genetic services.

The type and pattern of the genetic diseases in developing countries are quite adaptable, even within the same geographic region.The country is focusing on prevention through carrier screening, genetic counseling and prenatal diagnosis.

As in result, a newborn screening program has been initiated by the Ministry of Health & Family Welfare (2018) for sickle cell disease in some states, with plans to extend it to other areas.
Factors such as, both internal development efforts and collaborative programs of all countries in the Asia-Pacific region, support a clinical genetics services for all individuals living within this region, proportionally help to upsurge the growth for the genome editing market in the forecast period.
In 2017, the sequencing segment held a largest market share of 38.1% of the genomics market, by technology. This segment is also expected to dominate the market in 2025 owing to higher acceptance of the sequencing procedures for the genomics. Furthermore, the microarray segment is anticipated to witness the fastest growth rate during the forecast period, 2018 to 2025.
In 2017, the consumables segment held a largest market share of 46.5% of the genomics market, by product & service. This segment is also expected to dominate the market in 2025 as the consumables provides accuracy, speed, support across the globe for the systems used in the gene synthesis and genomics. Furthermore, the services segment is anticipated to witness the fastest growth rate during the forecast period, 2018 to 2025.
By application, the diagnostics segment is anticipated to grow at a CAGR of 12.0% during the forecast period. The diagnostics helps benefit the human to avoid the inheritance of the diseases in their children and diagnostics provides clarity for more concise treatment. Moreover, the segment held the largest market share of 32.2% for the application segment in the genomics market and is likely to dominate the market in coming forecast period.
In 2017, the research centers segment held a largest market share of 42.3% of the genomics market, by end user. This segment is also expected to dominate the market in 2025. However, the hospitals & clinics segment is anticipated to witness the fastest growth rate of 11.9% during the forecast period, 2017 to 2025. This higher growth rate of the segment owing to the providing the references for further researches are likely to propel the growth of the research centers segment in the coming future.
Some of the major primary and secondary sources for genomics included in the report are, Association for Responsible Research and Innovation in Genomics (ARRIGE), Biotechnology Industry Research Assistance Council (BIRAC), Defense Advanced Research Projects Agency (DARPA), Department of Biotechnology (DBT), Ministry of Health and Prevention (Mohap), and among others.

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