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Genomics-led precision medicine is poised to transform modern healthcare around the world. Asia, which includes the rapidly developing Southeast Asia region, holds immense potential for the adoption of precision medicine riding on factors such as a unique genetic diversity, young and growing populations (Asia accounts for over 60% of the global population), rising incomes and higher healthcare spending by governments and citizens.
In the ‘Harnessing Genomic Medicine and Gene NFT in Southeast Asia’ report, DealStreetAsia and Genetica present the factors that position Southeast Asia as one of foremost markets in Asia and globally for the advancement of precision medicine, underpinned by genomic research that draws on the region’s unique genetic diversity.
The report provides insights into why it is important for the Asian genetic pool to be integrated into global genomics research efforts; the multiple opportunities that are waiting to tapped by private sector players and and how next generation technologies such as blockchain and AI stand to play a key role in ushering in the era of precision medicine across Southeast Asian economies. The report will show that it is not just governments that see precision medicine becoming the central theme for healthcare across Southeast Asia. Since 2010, private companies, including direct-to-consumer genetic testing service providers, backed by private capital have proliferated in the region, making genetic tests easily accessible and affordable for consumers. Southeast Asia is currently home to 68 genomics focused companies, accounting for 17% of companies active in the overall Asian region. Notably, business models in the lucrative direct-to-consumer genetic testing market are currently in a state of evolution as players seek more efficient ways to scale and create impact. In order to achieve their full potential, such private companies will continue to need substantial private capital, alongside government support, for several years.
While the opportunities are vast, the challenges are also fairly substantial. These include economic, regulatory, social, and ethical issues that need to be addressed. Globally, the sharing of genomic data for research at scale has so far been hindered by unresolved data management issues and related concerns over data ownership and privacy. It is widely perceived that technologies such as AI and blockchain could help mitigate many of those concerns. The report examines how blockchain, fortified with a trusted execution environment, could be harnessed to aid genomic research worldwide and in the region. Such innovations are spurring the emergence of a new generation of genomics companies that are poised to deeply influence the development of the region’s precision healthcare market.
Read the ‘Harnessing Genomic Medicine and Gene NFT in Southeast Asia’ report for a 360-degree perspective on how genomics is shaping the future of healthcare in Southeast Asia.