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Precision medicine is targeting the right medicine for the right patient at the right time. The goal of personalized medicine is to provide more effective and targeted treatment options that are specific to each patient’s needs, rather than relying on a one-size-fits-all approach.
Personalized medicine, also known as precision medicine or individualized medicine, is a medical approach that tailors the prevention, diagnosis, and treatment of diseases to the individual patient’s unique characteristics, including their genetic makeup, lifestyle, and environment.
Personalized medicine is the tailoring of medical treatment to the individual characteristics of each patient. The approach relies on scientific breakthroughs in our understanding of how a person’s unique molecular and genetic profile makes them susceptible to certain diseases. This same research is increasing our ability to predict which medical treatments will be safe and effective for each patient, and which ones will not be.
Personalized medicine may be considered an extension of traditional approaches to understanding and treating disease. Equipped with tools that are more precise, physicians can select a therapy or treatment protocol based on a patient’s molecular profile that may not only minimize harmful side effects and ensure a more successful outcome, but can also help contain costs compared with a “trial-and-error” approach to disease treatment.
This approach can improve patient outcomes and reduce the risk of adverse reactions to medications. Personalized medicine also aims to identify individuals who may be at higher risk for certain diseases, enabling earlier intervention and more effective prevention strategies.
Personalized medicine has the potential to change the way we think about, identify and manage health problems. It is already having an exciting impact on both clinical research and patient care, and this impact will grow as our understanding and technologies improve.
Applications of personalized medicine include cancer, infectious diseases, neurodegenerative diseases, and rare genetic disorders.
Advancements in gene editing and gene therapy, multiomics, microbiome, artificial intelligence and machine learning, cellular therapies, and digital biomarkers are among the new frontiers in personalized medicine.
Personalized medicine has the potential to improve population health by providing more effective and targeted treatments, reducing healthcare costs, supporting disease prevention, advancing population-based research, and promoting health equity.
For more details please visit: The Power of Personalized Medicine: Harnessing Data to Improve Healthcare Outcomes
Personalized Medicine Is Impacting Patient Care in Many Diseases.
For Example……in Breast Cancer: One of the earliest and most common examples of personalized medicine came in trastuzumab. About 30% of patients with breast cancer have a form that over-expresses a protein called HER2, which is not responsive to standard therapy. Trastuzumab was approved for patients with HER2 positive tumors in 1998 and further research in 2005 showed that it reduced recurrence by 52% in combination with chemotherapy.
…in Melanoma: BRAF is the human gene responsible for the production of a protein called B-Raf, which is involved in sending signals inside cells to direct cell growth, and shown to be mutated in cancers. In 2011, a drug called vemurafenib, a B-Raf protein inhibitor, and the companion
BRAF V600E Mutation Test were approved for the treatment of late stage melanoma. Vemurafenib only works in the treatment of patients whose cancer tests positive for the V600E BRAF mutation. Around 60% of patients with melanoma have a BRAF mutation, and approximately 90% of those are the BRAF V600E mutation.
…in Cardiovascular Disease: Prior to the development of a gene expression profiling test to identify heart transplant recipients’ probability of rejecting a transplanted organ, the primary method for managing heart transplant rejection was the invasive technique of endomyocardial
biopsy – a heart biopsy. Today, a genetic diagnostic test is performed on a blood sample, providing a non-invasive test to help manage the care of patients post-transplant. New research suggests that ongoing testing may be useful in longer-term patient management by predicting risk of rejection and guiding more tailored immunosuppressive drug regimes.
Ethical and social implications, regulatory and policy challenges, interdisciplinary collaboration, patient engagement and empowerment, and integration of digital health technologies are important considerations in the development and implementation of personalized medicine.
As the ecosystem of stakeholders works to advance personalized medicine, collaboration with government regulators and policymakers is necessary to encourage widespread use of these new tools and technologies. The regulatory process must evolve in response to advances that are targeted to smaller patient populations based on genetic profiles, and policies and legislation must be enacted that provide incentives for innovative research and adoption of new technologies. Together, progress in the research, clinical care, and policy enabling personalized medicine has great potential to improve the quality of patient care and to help contain health care costs
Tailoring Treatment Plans
Personalized medicine represents a groundbreaking shift in healthcare, emphasizing the customization of treatment plans based on an individual’s unique genetic composition. This transformative approach leverages innovations like Precision Pharmacogenomics, Individualized Immunotherapies, Genomic Diagnostics, Personalized Oncology, and Tailored Neurological Treatments.
Precision Pharmacogenomics harnesses genomic data to fine-tune drug therapies, understanding how a person’s genes influence their response to medications. Individualized Immunotherapies involve the manipulation of a patient’s immune system to target disease-specific antigens, offering newfound potential in treating conditions ranging from cancer to autoimmune diseases.
Genomic Diagnostics entails sequencing an individual’s genome to pinpoint disease-related genetic variants, playing a pivotal role in early disease detection and risk factor identification. In the field of oncology, Genomic Diagnostics have paved the way for Personalized Oncology, which tailors treatment strategies to the specific genetic alterations found in a patient’s tumor.
Emerging within this landscape are Tailored Neurological Treatments, harnessing knowledge about an individual’s genetics and brain chemistry to develop more effective interventions for neurological disorders.
In sum, personalized medicine heralds the era of more precise, predictive, and preventive healthcare, offering a glimpse into the future of medical care. As Karan Tiwari, a Content Marketer at Wiretroop, wisely notes, this future necessitates a data-driven approach, emphasizing robust patient data collection, secure data management, and cutting-edge AI-driven analytics to genuinely craft tailored treatment plans. By empowering patients with information and engaging in shared decision-making, healthcare providers can aspire to achieve optimal outcomes in this exciting new frontier of medicine.
Personalized Medicine Market Outlook
The global sales of the Personalized Medicine Market in 2022 were held at US$ 326.7 Billion. With a CAGR of 7.8% from 2023 to 2033, the market in the country is expected to reach US$ 690.9 Billion. Market through Personalized Nutrition & Wellness is expected to be the highest revenue generating segment, projected to grow at a CAGR of over 6.5% from 2023 to 2033.
Which Factors are Propelling Personalized Medicine Demand?
In recent years, a significant focus is on how to employ advanced analytics, customized drugs, patient data, and other tools to better identify and treat illnesses. People are becoming more aware of the benefits of personalized treatment, and more genetic databases are being developed. These factors have been driving the global market for personalized medicine.
More patients using personalized medication might help neurology, lung medicine, antiviral medicine, and psychiatry. This would broaden the global market for personalized treatment. The global personalized medicine market is also faltering as a result of increased research and development costs and poor side effects.
Over the forecast period, the personalized medicine market is expected to grow as more people
develop chronic illnesses such as diabetes and cancer, more people receive combination
pharmacological therapy, the global population ages, and more clinical studies for personalized
medicine are conducted in neurology departments.
The increasing prevalence of rare diseases is also anticipated to boost the growth of the market. The increasing level of understanding and correlation of characteristics of the human genome has paved the way for efforts on devising various personalized medicine and therapeutic exercises. For instance, in September 2022, a research study carried out at the University of California at Irvine proposed a novel technique for the management of inherited retinal diseases (IRDs) by using precision genome editing that is very specific to an individual’s requirements.
Personalized medicine is also increasingly used for applications in companion diagnostics that are precisely designed for the determination of the viability of subjects to a specific treatment and to gauge the subject’s response to a therapeutic regime. Companion diagnostics play an essential role in devising efficient precision medicine considering the micro environment, patient’s genome characteristics, ethnicity, and lifestyle choices. There are an increasing number of FDA approvals for companion diagnostics due to the rising demand. For instance, in October 2020, Roche achieved U.S. FDA approval for the expansion of the Cobas EGFR Mutation Test to be used for the treatment of non-small cell lung cancer.
Restrictions
However, the exorbitant cost of customized drugs is stifling business growth. Due to the favorable
government reimbursement criteria and low medical defect and side effect concerns, the market is
expected to grow. The growing number of cancer types and the low cost of personalized medicine therapy in cancer medications are expected to boost the global personalized medicine market. Cancer killed more than 9 million people in 2018, according to the World Health Organization. It kills almost one out of every six people worldwide.
Since it has aided in the discovery of cancerous tissues, personalized medicine is anticipated to grow in popularity in the future years. Other advantages include fewer negative effects and more acceptance in developed countries, which boosts the global market. Customized medicine allows for the development of treatment plans based on the immunophenotype of each patient. If employed to treat different malignancies, the market for personalized medicine in underdeveloped countries will grow quickly in the coming years. People are becoming more aware of how it may help them and how quickly it has transformed other types of diseases.
Category-wise Insights
Personal nutrition and wellness was the most profitable segment of the market in 2022, accounting for over 60% of the total revenue. As they are offered over the counter, personal nutrition and wellness products are also more convenient for customers to purchase. As a result, they are more accessible to general consumers and are less likely to encounter legal difficulties.
The growth in the segment is due to the extensive consumption rate and market penetration. Further, the high rate of over-the-counter (OTC) sales of nutrition products boosts the demand due to lowered regulatory implications. For instance, in March 2022, the American Heart Association features that nutrition scientists are working towards precision nutrition to combat cardiovascular diseases based on the unique responses for specific foods and nutrients.
Companies are also introducing new individualized nutrition solutions, which is one of the key factors towards the market growth. For instance, Nestlé introduced nesQino in April 2020, a customized healthy superfood drink produced with natural ingredients that can be customized to meet the needs of each individual. Vegetables, fruits, nuts, microalgae, and seeds are among the elements used in the creation of the novel beverage.
The personalized medicine therapeutics segment is expected to witness the highest growth over the forecast period. The rise in demand for genomics based therapeutics and biopharmaceuticals based on specifically sequenced data is primarily contributing to the growth of the segment. Moreover, the emergence of high-end sequencing to effectively reduce the cost of genome sequencing nurtures the growth of the market.
Region-wise Analysis
North America was the prominent market for personalized medicines. The development of next-generation sequencing technologies and the implementation of health information technology systems are assisting in the expansion of the personalized medicine industry in North America. These technologies make it simple to get customized pharmacogenomic information in a timely and convenient manner.
The market in the USA is expected to reach a valuation of US$ 256 Billion by 2033, growing at a CAGR of around 7%. The growing expenditure of Americans on healthcare is one of the key factors driving the market in the country. With the surge in the number of personalized medicine providers the market in the country is expected to grow at a significant pace in the forthcoming years.
The market in the United Kingdom is expected to reach a valuation of US$ 50 Billion by 2033. Growing with a CAGR of 8.5% during the forecast period, the market in the country is projected to garner an absolute dollar opportunity of US$ 25 Billion.
Similarly, the market in Asia-Pacific is predicted to develop the most rapidly in the coming years. This is because it is highly inexpensive to conduct clinical trials for novel precision medicines and diagnostics in this area, which draws investment from outside of the region.
In Japan, the market is expected to grow at a CAGR of 7.8% from 2023 to 2033, reaching US$ 49
Billion by 2033. The market in the country is expected to gross an absolute dollar opportunity of US$ 20 Billion during the forecast period
Industry
Among the firms with a strong presence in the sector are GE Healthcare, Illumina, Inc., ASURAGEN, INC., Abbott, Dako A/S, Exact Sciences Corporation, Cepheid, Inc., Decode Genetics, Inc., QIAGEN, Exagen Inc., Precision Biologics, Celera Diagnostics LLC, and Biogen.
Some of the recent developments of key Personalized Medicine providers are as follows:
In February 2021, Illumina, Inc. entered into a study agreement with the Belgian Society of Medical Oncology to investigate Comprehensive Genomic Profiling in advanced metastatic cancer patients.
In January 2019, Metagenics, Inc. announced that it has introduced a clinical research laboratory
and patient clinic named Personalized Lifestyle Medicine Center in Washington.
In March 2019, Vitamin Packs Inc. launched PERSONA nutrition, its new vitamin supplement for
personalized health.
References and Resources also include:
https://www.futuremarketinsights.com/reports/personalized-medicine-market
