Asia Pacific Precision Diagnostics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis

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The precision diagnostics market in Asia Pacific is expected to grow from US$ 15,157.61 million in 2022 to US$ 33,007.52 million by 2028. It is estimated to grow at a CAGR of 13.8% from 2022 to 2028.

The advancement in artificial intelligence (AI) is increasing. Healthcare is expected to lead the way in AI investments between 2018 and 2022, with the Asia Pacific region well-positioned to grow due to its fertile digital ecosystem, as per Industry analysts. According to the recently released Philips Future Health Index, healthcare professionals in Singapore are leaders in using AI, with 55% using AI in their daily practice compared to an average of 46% across the 15 countries surveyed. Diagnosis of complex diseases such as cancer can be time-consuming and labor-intensive because many factors are to be considered, such as disease type, physical exams, genomic and molecular data analysis, and the patient's medical history. Intelligently aggregating all this information is the hallmark of precision diagnosis.

As per a study by International Data Corporation (IDC), the amount of data in healthcare is growing by an estimated 48% every year, leaving less time for physicians to study it. In addition, the rising disease burden in the aging population would increase the data mount. In a country, such as Singapore, up to eight in ten doctors report feeling burnt out as they struggle to keep up with the rising workload. By automating the mundane and speeding up workflows, AI can help alleviate overburdened physicians.

The ability of AI to shift through large amounts of data has the potential to make medical examinations more precise, reliable, and efficient. For instance, in CT-based lung cancer screening, Philips researchers have demonstrated that a deep learning algorithm can be helpful to radiologists as a decision support tool.

Similarly, in digital pathology, algorithms can help point to regions of interest in tissue samples that demand further inspection by the pathologist. Targeted treatments that enable an individual to get better can be understood by unraveling the molecular mechanisms that give rise to an individual's disease.

Moreover, in healthcare, machine learning (ML) can be beneficial in many areas, including biomedical data management, automation of diagnoses, and biomarker discovery. Biomarker discovery can be used to build better biomarkers to predict a patient's response to therapy. The big data from a biological system, such as the human body, needs to be understood to do so.

The current method of applying MI to biomarker discovery is making feature selections across multiple levels of omics data that predict outcomes between different cohorts. The power of MI and Ribonucleic acid (RNA) to build Health Expression Models can also help capture complex biology and enable quantification in heterogeneous tissue samples. Thus, using MI to make precision diagnostics will change the future of precision medicine, allowing the right patient to receive proper treatment at the right time.

Machine learning and artificial intelligence techniques are starting to provide doctors with new diagnostic insights. A French start-up, VitaDx, uses fluorescent imaging and MI to improve the early diagnosis of bladder cancer by analyzing the shape, physiology, and metabolism of potentially cancerous cells. The technology can also be applied later for the early diagnosis of cancers of the lungs, stomach, and thyroid. Therefore, the advantages offered by AI and MI are expected to create numerous future trends for the precision diagnostics market .

Asia Pacific Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Precision Diagnostics Market Segmentation

The Asia Pacific precision diagnostics market is segmented by type, application, end user, and country. Based on type, the market is segmented into genetic tests, esoteric tests, and others. The genetic tests segment dominated the market in 2022.

Based on application, the market is fragmented into oncology, cardiology, immunology, respiratory diseases, and others. The oncology segment dominated the market in 2022. Based on end user, the market is segmented into hospitals, clinical laboratories, home care, and others. The clinical laboratories segment dominated the market in 2022.

Based on country, the market is segmented into China, Japan, India, South Korea, Australia, and the rest of Asia Pacific. Further, China dominated the market in 2022.

A few key players dominating the Asia Pacific precision diagnostics market are Abbott, Bayer AG, Koninklijke Philips N.V., Novartis AG, QIAGEN, Quest Diagnostics Incorporated, Sanofi, Siemens Healthineers AG, and Swiss Precision Diagnostics GmbH.

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Product Code: BMIRE00026143

1. Introduction

1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
- 1.3.1 APAC Precision Diagnostics Market - By Type
- 1.3.2 APAC Precision Diagnostics Market - By Application
- 1.3.3 APAC Precision Diagnostics Market - By End User
- 1.3.4 APAC Precision Diagnostics Market - By Country

2. APAC Precision Diagnostics Market - Key Takeaways

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. APAC Precision Diagnostics Market - Market Landscape

4.1 Overview
4.2 PEST Analysis
- 4.2.1 APAC - PEST Analysis
4.3 Expert Opinion

5. APAC Precision Diagnostics Market - Key Market Dynamics

5.1 Key Market Drivers
- 5.1.1 Surging Demand for Personalized Medicine
- 5.1.2 Growing Application in Oncology and Other Disorders
5.2 Market Restraints
- 5.2.1 High Investments Involved in the R&D of Precision Medicine and Diagnostic Kits
5.3 Market Opportunities
- 5.3.1 Growing Advancement In Digital Solutions
5.4 Future Trends
- 5.4.1 Usage of Artificial Intelligence and Machine Learning in Precision Diagnostics
5.5 Impact Analysis

6. Precision Diagnostics Market- APAC Analysis

6.1 APAC Precision Diagnostics Market Revenue Forecast and Analysis

7. APAC Precision Diagnostics Market- by Type

7.1 Overview
7.2 Genetic Tests
- 7.2.1 Overview
- 7.2.2 Genetic Tests: APAC Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
7.3 Esoteric Tests
- 7.3.1 Overview
- 7.3.2 Esoteric Tests: APAC Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
7.4 Others
- 7.4.1 Overview
- 7.4.2 Others: APAC Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)

8. APAC Precision Diagnostics Market- by Application

8.1 Overview
8.2 Oncology
- 8.2.1 Overview
- 8.2.2 Oncology: APAC Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
8.3 Cardiology
- 8.3.1 Overview
- 8.3.2 Cardiology: APAC Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
8.4 Respiratory Diseases
- 8.4.1 Overview
- 8.4.2 Respiratory Diseases: APAC Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
8.5 Immunology
- 8.5.1 Overview
- 8.5.2 Immunology: APAC Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
8.6 Others
- 8.6.1 Overview
- 8.6.2 Others: APAC Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)

9. APAC Precision Diagnostics Market- by End User

9.1 Overview
9.2 Clinical Laboratories
- 9.2.1 Overview
- 9.2.2 Clinical Laboratories: APAC Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
9.3 Hospitals
- 9.3.1 Overview
- 9.3.2 Hospitals: APAC Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
9.4 Homecare
- 9.4.1 Overview
- 9.4.2 Homecare: APAC Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
9.5 Others
- 9.5.1 Overview
- 9.5.2 Others: APAC Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)

10. APAC Precision Diagnostics Market- by Country

10.1 APAC: Precision Diagnostics Market- Revenue and Forecast to 2028
- 10.1.1 Overview
- 10.1.2 APAC: Precision Diagnostics Market, by Country, 2022 & 2028 (%)
  - 10.1.2.1 China: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.2.1.1 China: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.2.1.2 China: Precision Diagnostics Market Revenue and Forecast to 2028, By Type (US$ Million)
    - 10.1.2.1.3 China: Precision Diagnostics Market Revenue and Forecast to 2028, By Application (US$ Million)
    - 10.1.2.1.4 China: Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)
  - 10.1.2.2 Japan: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.2.2.1 Japan: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.2.2.2 Japan: Precision Diagnostics Market Revenue and Forecast to 2028, By Type (US$ Million)
    - 10.1.2.2.3 Japan: Precision Diagnostics Market Revenue and Forecast to 2028, By Application (US$ Million)
    - 10.1.2.2.4 Japan: Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)
  - 10.1.2.3 India: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.2.3.1 India: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.2.3.2 India: Precision Diagnostics Market Revenue and Forecast to 2028, By Type (US$ Million)
    - 10.1.2.3.3 India: Precision Diagnostics Market Revenue and Forecast to 2028, By Application (US$ Million)
    - 10.1.2.3.4 India: Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)
  - 10.1.2.4 Australia: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.2.4.1 Australia: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.2.4.2 Australia: Precision Diagnostics Market Revenue and Forecast to 2028, By Type (US$ Million)
    - 10.1.2.4.3 Australia: Precision Diagnostics Market Revenue and Forecast to 2028, By Application (US$ Million)
    - 10.1.2.4.4 Australia: Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)
  - 10.1.2.5 South Korea: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.2.5.1 South Korea: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.2.5.2 South Korea: Precision Diagnostics Market Revenue and Forecast to 2028, By Type (US$ Million)
    - 10.1.2.5.3 South Korea: Precision Diagnostics Market Revenue and Forecast to 2028, By Application (US$ Million)
    - 10.1.2.5.4 South Korea: Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)
  - 10.1.2.6 Rest of APAC: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.2.6.1 Rest of APAC: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.2.6.2 Rest of APAC: Precision Diagnostics Market Revenue and Forecast to 2028, By Type (US$ Million)
    - 10.1.2.6.3 Rest of APAC: Precision Diagnostics Market Revenue and Forecast to 2028, By Application (US$ Million)
    - 10.1.2.6.4 Rest of APAC: Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)

11. APAC Precision Diagnostics Market -Industry Landscape

11.1 Overview
11.2 Organic Developments
- 11.2.1 Overview
- 11.2.2 Organic Growth Strategies in the Precision Diagnostics Market, 2018-2022
11.3 Inorganic Developments
- 11.3.1 Overview
- 11.3.2 Inorganic Growth Strategies in the Precision Diagnostics Market, 2018-2022

12. Company Profiles

12.1 Quest Diagnostics Incorporated
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
12.2 QIAGEN
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
12.3 Swiss Precision Diagnostics GmbH
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
12.4 Koninklijke Philips N.V.
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
12.5 Siemens Healthineers AG
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
12.6 Abbott
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
12.7 Novartis AG
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
12.8 Sanofi
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments
12.9 Bayer AG
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments

13. Appendix

13.1 About The Insight Partners
13.2 Glossary of Terms