China Precision Medicine Market Size & Outlook, 2023-2030
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China precision medicine market highlights
- The China precision medicine market generated a revenue of USD 3,037.7 million in 2023 and is expected to reach USD 9,162.2 million by 2030.
- The China market is expected to grow at a CAGR of 17.1% from 2024 to 2030.
- In terms of segment, therapeutics was the largest revenue generating application in 2023.
- Diagnostics is the most lucrative application segment registering the fastest growth during the forecast period.
Precision medicine market data book summary
| Market revenue in 2023 | USD 3,037.7 million |
| Market revenue in 2030 | USD 9,162.2 million |
| Growth rate | 17.1% (CAGR from 2024 to 2030) |
| Largest segment | Therapeutics |
| Fastest growing segment | Diagnostics |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Diagnostics, Therapeutics |
| Key market players worldwide | Roche, Siemens Healthineers AG ADR, Janssen Pharmaceuticals, Illumina Inc, Quest Diagnostics Inc, 23andMe Holding Co Class A, NeoDiagnostix, International Business Machines Corp, Myriad Genetics Inc, Medtronic PLC, GE HealthCare Technologies Inc Common Stock, Abbott Laboratories, Dakota Software, Biogen Inc, Qiagen NV, ImmunityBio Inc Ordinary Shares |
Other key industry trends
- In terms of revenue, China accounted for 3.5% of the global precision medicine market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan precision medicine market is projected to lead the regional market in terms of revenue in 2030.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 20,972.8 million by 2030.
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Precision Medicine Market Scope
Precision Medicine Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| ImmunityBio Inc Ordinary Shares | View profile | 628 | 3530 John Hopkins Court, San Diego, CA, United States, 92121 | https://www.immunitybio.com |
| NeoDiagnostix | View profile | 1-10 | Rockville, Maryland, United States, North America | https://neodiagnostix.com |
| Janssen Pharmaceuticals | View profile | 1-10 | Titusville, New Jersey, United States, North America | https://www.xarelto-us.com |
| 23andMe Holding Co Class A | View profile | 816 | 349 Oyster Point Boulevard, South San Francisco, CA, United States, 94080 | https://www.23andme.com |
| Biogen Inc | View profile | 7570 | 225 Binney Street, Cambridge, MA, United States, 02142 | https://www.biogen.com |
| Roche | View profile | 10001+ | Basel, Basel-Stadt, Switzerland, Europe | http://www.roche.com |
| Dakota Software | View profile | 51-100 | Cleveland, Ohio, United States, North America | http://dakotasoft.com |
| Myriad Genetics Inc | View profile | 2700 | 320 Wakara Way, Salt Lake City, UT, United States, 84108 | https://www.myriad.com |
| Qiagen NV | View profile | 5900 | Hulsterweg 82, Venlo, LI, Netherlands, 5912 PL | https://www.qiagen.com |
| Illumina Inc | View profile | 9300 | 5200 Illumina Way, San Diego, CA, United States, 92122 | https://www.illumina.com |
| Quest Diagnostics Inc | View profile | 48000 | 500 Plaza Drive, Secaucus, NJ, United States, 07094 | https://www.questdiagnostics.com |
| Siemens Healthineers AG ADR | View profile | 71400 | Siemensstr. 3, Forchheim, BY, Germany, 91301 | https://www.siemens-healthineers.com |
| Medtronic PLC | View profile | 95000 | Lower Hatch Street, 20 On Hatch, Dublin, Ireland, 2 | https://www.medtronic.com |
| International Business Machines Corp | View profile | 282200 | One New Orchard Road, Armonk, NY, United States, 10504 | http://www.ibm.com |
| Abbott Laboratories | View profile | 114000 | 100 Abbott Park Road, Abbott Park, IL, United States, 60064-6400 | https://www.abbottinvestor.com |
| GE HealthCare Technologies Inc Common Stock | View profile | 51000 | 500 West Monroe Street, Chicago, IL, United States, 60661 | https://www.gehealthcare.com |
China precision medicine market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to precision medicine market will help companies and investors design strategic landscapes.
Therapeutics was the largest segment with a revenue share of 74.3% in 2023. Horizon Databook has segmented the China precision medicine market based on diagnostics, therapeutics covering the revenue growth of each sub-segment from 2018 to 2030.
Government support and involvement in cross-border international collaborations for preventive & personalized medicine is expected to fuel market growth. Considering this factor, the Chinese government planned to make personalized medicine a part of its 5-Year Plan for 2016-2020 as it prioritizes genomics for better healthcare outcomes.
Similarly, the Chinese Academy of Sciences (CAS) allotted detailed application guidance for projects under the China Precision Medicine Initiative in 2016, which has to be funded with USD 9.2 billion by 2030. Wide applications of cell & gene therapies in China also play a key role in the progression of PM.
For instance, GE Healthcare developed three KUBio manufacturing facilities for Chinese biopharmaceutical companies in 2018, which expanded the company’s Flex Factory offerings in China to meet the manufacturing requirements of cell & gene therapies.
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Our clientele includes a mix of precision medicine market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the China precision medicine market , including forecasts for subscribers. This country databook contains high-level insights into China precision medicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China precision medicine diagnostics therapeutics market size, by application, 2018-2030 (US$M)
China Precision Medicine Market Outlook Share, 2023 & 2030 (US$M)
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