The global personalized medicine
(PM) market size is expected to reach USD 3.18 trillion by 2025 registering a CAGR of 10.6% over the forecast period.
and a comprehensive means to enable a sleeping giant of an industry is a strong thesis," says Loop Capital Managing Director, Prakash Ramani.
refers to the field of medicine that uses specific biological markers to help assess which medical treatments and procedures will benefit each patient.
Looking at the potential for personalized medicine
, Prainsack addresses the apparent paradox that the work required from patients is becoming more expansive and less self-directed at the same time that the flag of patient empowerment and participation is raised over ever wider territories in medicine and health care.
Howard, Emory University; Jason Hockenberry, Emory University and NBER; and Guy David, University of Pennsylvania and NBER, "Personalized Medicine
When Physicians Induce Demand"
The economics of personalized medicine
are also compelling.
However, new treatments--like personalized medicine
and cellular therapies--present their own unique challenges, such as supply chain complexities.
This is personalized medicine
. The treatment should be tailored to the individual and research should not only focus on which strategy works for most people, but also determine why one strategy works for some people and not for others.
And now that many treatment centers are actively advertising personalized medicine
as a differentiator, it is creating a virtuous cycle of awareness.
FDA says personalized medicine
provides "the right patient with the right drug at the right dose at the right time," and in the near future, patients will not only be able to access medical records online, but will have the ability to add to these records by uploading data from their health apps and wearables.
Since the first use of the term Personalized Medicine
' (PM) in 1990, many research and review articles hav e coined this term.
Earlier this year the AKC Canine Health Foundation sent out a call to cancer researchers to explore the realm of personalized medicine
to treat canine lymphoma.