DUBLIN–(BUSINESS WIRE)–November 11, 2022–
the “Asia Pacific Precision Diagnostics Market Forecast to 2028: Impact of COVID-19 and Regional Analysis, by Type, Application and End User” Report has been added to ResearchAndMarkets.com‘s offering.
The Asia Pacific precision diagnostics market is expected to grow from US$15,157.61 million in 2022 to US$33,007.52 million in 2028. It is estimated to grow at a CAGR of 13.8% between 2022 and 2028.
The advancement of artificial intelligence (AI) is increasing. Healthcare is expected to lead AI investments between 2018 and 2022, with the Asia Pacific region well positioned for growth due to its fertile digital ecosystem, according to industry analysts. According to the recently released Philips Future Health Index, healthcare professionals in Singapore are leaders in the use of AI, with 55% using AI in their daily practice compared to an average of 46% across the 15 countries surveyed.
According to a study by the International Data Corporation (IDC), the amount of data in health care is growing by approximately 48% each year, leaving less time for clinicians to study it. Additionally, the increasing burden of disease in the aging population would increase the amount of data. In a country like Singapore, as many as eight in ten doctors report feeling burned out as they struggle to keep up with the increasing workload. By automating fast-paced, mundane workflows, AI can help alleviate clinicians’ work overload.
AI’s ability to change large amounts of data has the potential to make medical examinations more accurate, reliable and efficient. For example, in CT-based lung cancer detection, Philips researchers have shown that a deep learning algorithm can be useful to radiologists as a decision support tool. Similarly, in digital pathology, algorithms can help pinpoint regions of interest in tissue samples that require further inspection by the pathologist.
Targeted treatments that allow an individual to get better can be understood by unraveling the molecular mechanisms that give rise to an individual’s disease. Additionally, in healthcare, machine learning (ML) can be beneficial in many areas, including biomedical data management, diagnostic automation, and biomarker discovery. Biomarker discovery can be used to build better biomarkers to predict a patient’s response to therapy. The big data of a biological system, such as the human body, must be understood to do so.
The current method of applying MI to biomarker discovery is to make feature selections across multiple levels of omics data that predict outcomes between different cohorts. The power of MI and ribonucleic acid (RNA) to build expression models of health can also help capture complex biology and enable quantification in heterogeneous tissue samples. Therefore, the use of MI to make precision diagnoses will change the future of precision medicine, allowing the right patient to receive the right treatment at the right time.
Machine learning and artificial intelligence techniques are beginning to provide clinicians with new diagnostic insights. A new French company, VitaDx, uses fluorescent imaging and MI to improve early diagnosis of bladder cancer by analyzing the shape, physiology and metabolism of potentially cancerous cells. The technology can also be applied later for early diagnosis of lung, stomach and thyroid cancers. 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 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 testing, esoteric testing, and others. The genetic testing segment dominated the market in 2022.
- Depending on the application, the market is fragmented into oncology, cardiology, immunology, respiratory diseases and others. The oncology segment dominated the market in 2022.
- Based on the end user, the market is segmented into hospitals, clinical laboratories, home care, and others. The clinical laboratory segment dominated the market in 2022.
- Based on the country, the market is segmented into China, Japan, India, South Korea, Australia, and the rest of Asia Pacific. In addition, China dominated the market in 2022
Key Market Drivers
- Growing demand for personalized medicine
- Growing application in oncology and other disorders
- High Investments Involved in R&D of Precision Medicine and Diagnostic Kits
- Increasing progress in digital solutions
- Use of artificial intelligence and machine learning in precision diagnoses
Key Topics Covered:
2. APAC Precision Diagnostics Market – Key Points
3. Research methodology
4. APAC Precision Diagnostics Market – Market Landscape
5. APAC Precision Diagnostics Market – Key Market Dynamics
6. Precision Diagnostics Market – APAC Analysis
7. APAC Precision Diagnostics Market – By Type
8. APAC Precision Diagnostics Market – By Application
9. APAC Precision Diagnostics Market – By End User
10. APAC Precision Diagnostics Market, By Country
11. APAC Precision Diagnostics Market – Industry Landscape
12. Company profiles
- Bayer AG
- Koninklijke Philips NV
- Novartis AG
- Quest built-in diagnostics
- Siemens Healthineers AG
- Swiss Precision Diagnostics GmbH
For more information on this report, visit https://www.researchandmarkets.com/r/u3wrcz
See source version at businesswire.com:https://www.businesswire.com/news/home/20221111005179/en/
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KEY WORD: ASIA PACIFIC
INDUSTRY KEY WORD: HEALTHCARE MEDICAL DEVICES HEALTHCARE TECHNOLOGY
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUBLICATION: 11/11/2022 04:20 AM/DISC: 11/11/2022 04:21 AM