China Precision Medicine Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 6.20 Billion |
| Market Size (2029) | USD 11.20 Billion |
| CAGR (2024 - 2029) | 12.70 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
China Precision Medicine Market Analysis
The China Precision Medicine Market size is estimated at USD 6.20 billion in 2024, and is expected to reach USD 11.20 billion by 2029, growing at a CAGR of 12.70% during the forecast period (2024-2029).
Precision medicine is sometimes called personalized medicine or personalized care. Since China is home to one of the fastest-growing genomics markets, there is an excellent opportunity for precision medicine in health research and practice. Some key factors propelling the country's market growth include advances in cancer biology, an expanding portfolio of precision drugs, and an increasing adoption of gene therapy.
The demand for precision medicine is growing in the country. One of the examples of precision drugs is targeted therapies. Due to their specific mechanism of action on target for treating diseases, the usage of these drugs is increasing, which is likely to drive the precision medicine market growth in China. For instance, as per the data published by Yunnan Provincial Medical Security Bureau in February 2023, compared to traditional chemotherapy for malignant tumors, drug-targeted therapy can avoid the shortcomings of ordinary chemotherapy, which kills both good and bad cells indiscriminately. These advantages are likely to increase the demand for targeted therapies and drive the country's market growth.
Furthermore, adding these precision medicines to the reimbursement drug list likely reduces the economic burden on the patients and increases the usage of precision medicine in the country. For instance, in December 2023, Innovent Biologics stated that the National Reimbursement Drug List of China was updated to renew and include the seventh indication of TYVYT (sintilimab injection) in the negotiation list and include the eighth indication of BYVASDA (bevacizumab injection) in general list. Both products are considered to be targeted therapies that are commonly included in precision medicine. Hence, adding precision medicine products to the reimbursement drug list likely increases usage, boosting market growth between 2024 and 2029.
However, the perils of data sharing are expected to hinder the market growth in China from 2024 to 2029.
China Precision Medicine Market Trends
The Oncology Under Application Segment is Expected to Witness Rapid Growth Between 2024 and 2029
The growing number of cancer cases and technological advancements are expected to drive the oncology segment's growth between 2024 and 2029. Precision medicine applications are mostly focused on improving the treatment of cancerous diseases. The rising incidence of cancer and the increasing number of treatment options undergoing clinical trials using precision medicine are the primary drivers of the segment growth in China.
The growing burden of cancer cases in China is expected to increase the demand for precision medicine for effective treatment. For instance, according to the Globocan 2022 data, the estimated number of new cancer cases in China was 4.82 million in 2022, which is expected to reach 7.08 million by 2045. Hence, the expected rise in cancer cases is expected to increase the demand for precision medicine, propelling the segment growth between 2024 and 2029.
Furthermore, the market player strategies, such as collaborations and agreements for precision medicine developments, are expected to boost the segment growth. For instance, in June 2024, Merck, BeiGene, and Cornerstone Pharmaceutical planned to launch a precision diagnosis and treatment ecosystem targeting rare targets for lung cancer in China. They jointly planned to promote the high-quality development of precision medicines, increase the availability of products for cancers, and propel the segment's growth from 2024 to 2029.
The Gene Sequencing Technology Segment is Expected to Have Significant Growth in the Market from 2024 to 2029
With continuous advancements in genomic research, there is an increasing understanding of the genetic basis of diseases. This knowledge allows for more targeted and personalized treatment approaches, an essential aspect of precision medicine. Furthermore, the increasing prevalence of chronic diseases like cancer and Alzheimer's disease is creating a demand for more effective and personalized treatment options. Gene sequencing is crucial in identifying disease-associated genetic markers, enabling more targeted therapies.
Several companies from China are engaged in various activities, such as product launches that are boosting the country's field of gene sequencing. For instance, in December 2023, Illumina, one of the key players in DNA sequencing, and HaploX, a China-based company, jointly launched the NextSeq 2000Dx-CN-HAP, a domestically produced genetic sequencing system, in Shenzhen, China. These new product launches increase gene sequencing methods due to the widespread availability of the products and likely boost segment growth in the country.
Furthermore, the new developments in gene sequencing are expected to have new products in the precision medicine market, which is likely to boost the segment's growth. For instance, in April 2023, MGI Tech Co. Ltd stated that the company developed an ultra-high-throughput gene sequencer in China. The sequencer can complete 50,000 whole-genome sequencing cases per year, significantly reducing the cost of sequencing a single human genome. Hence, the reduced cost of sequencing is likely to increase the usage of gene sequencing technology, thereby boosting the segment growth in China from 2024 to 2029.
China Precision Medicine Industry Overview
The market for precision medicine in China is moderately consolidated with the presence of several companies in the country. These companies work both globally and locally in the precision medicine market. Some of the companies are F Hoffmann-La Roche AG, New Horizon Health Ltd, Amoy Diagnostics, Berry Genomics, and Zhongyuan Union Stem Cell Bioengineering.
China Precision Medicine Market Leaders
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F Hoffmann-La Roche AG
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Zhongyuan Union Stem Cell Bioengineering
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Amoy Diagnostics
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New Horizon Health Ltd
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Berry Genomics
*Disclaimer: Major Players sorted in no particular order
China Precision Medicine Market News
- November 2023: The P4 Sino-British Precision Medicine Innovation Center, an important achievement of the Zhongguancun Forum's international scientific and technological cooperation, was officially signed and landed in Yizhuang, Beijing.
- May 2023: GE Healthcare China launched the Precision Medicine Industrial Base project in Chengdu Tianfu International Bio-town.
China Precision Medicine Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Advancements in Cancer Biology
4.2.2 Increasing Efforts to Characterize Genes
4.3 Market Restraints
4.3.1 Perils of Data Sharing
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Technology
5.1.1 Big Data Analytics
5.1.2 Bioinformatics
5.1.3 Gene Sequencing
5.1.4 Drug Discovery
5.1.5 Companion Diagnostics
5.1.6 Other Technologies
5.2 By Application
5.2.1 Oncology
5.2.2 Central Nervous System (CNS)
5.2.3 Immunology
5.2.4 Respiratory
5.2.5 Other Applications
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 F. Hoffmann-La Roche Ltd
6.1.2 BGI
6.1.3 AstraZeneca PLC
6.1.4 Berry Genomics
6.1.5 Amoy Diagnostics
6.1.6 Zhongyuan Union Stem Cell Bioengineering
6.1.7 Dian Diagnostics Group
6.1.8 Sansure Biotech
6.1.9 New Horizon Health Ltd
6.1.10 InnoCare Pharma
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
China Precision Medicine Industry Segmentation
As per the report's scope, precision medicine, a combination of molecular and system biology techniques, is an emerging disease treatment and prevention approach. The market growth for this approach is gaining momentum as it takes individual variability in genes, environment, and lifestyle into account when developing drugs and vaccines.
The Chinese precision medicine market is segmented by technology and application. By technology, the market is segmented into big data analytics, bioinformatics, gene sequencing, drug discovery, companion diagnostics, and other technologies. The other technologies include liquid biopsies, pharmacogenomics, and population-based genetic screening. By application, the market is segmented into oncology, central nervous system (CNS), immunology, respiratory, and other applications. Other applications include infections, rare diseases, and hematology. The report offers the value in USD for the above segments.
| By Technology | |
| Big Data Analytics | |
| Bioinformatics | |
| Gene Sequencing | |
| Drug Discovery | |
| Companion Diagnostics | |
| Other Technologies |
| By Application | |
| Oncology | |
| Central Nervous System (CNS) | |
| Immunology | |
| Respiratory | |
| Other Applications |
China Precision Medicine Market Research FAQs
How big is the China Precision Medicine Market?
The China Precision Medicine Market size is expected to reach USD 6.20 billion in 2024 and grow at a CAGR of 12.70% to reach USD 11.20 billion by 2029.
What is the current China Precision Medicine Market size?
In 2024, the China Precision Medicine Market size is expected to reach USD 6.20 billion.
Who are the key players in China Precision Medicine Market?
F Hoffmann-La Roche AG, Zhongyuan Union Stem Cell Bioengineering, Amoy Diagnostics, New Horizon Health Ltd and Berry Genomics are the major companies operating in the China Precision Medicine Market.
What years does this China Precision Medicine Market cover, and what was the market size in 2023?
In 2023, the China Precision Medicine Market size was estimated at USD 5.41 billion. The report covers the China Precision Medicine Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the China Precision Medicine Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
China Precision Medicine Industry Report
Statistics for the 2024 China Precision Medicine market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. China Precision Medicine analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
