Current Business Affairs Global Personalized Medicine Market 2018

Personalized Medicine Market - Global Industry Analysis, Size, Share,
Growth, Trends, and Forecast To 2025
Market Definition:
“Targeted” diagnostics and therapeutics are one of the latest and anticipated healthcare technologies on the block.
Genomic and proteomic sciences have brought the concept of personalized medicine that leverages knowledge of
genetic makeup to build a more personalized approach to healthcare. Personalized Medicine is essentially a treatment
process that is tailor made for the individual characteristic of a patient. Individual characteristic involves a patient’s
unique molecular and genetic profile which is either responsible for or is susceptible to diseases like cancer,
cardiovascular diseases, neurodegenerative disorders or other diseases. Personalized Medicine involves scientific
breakthroughs that allows to predict the kind of medication and treatment method suits a particular patient, instead of
following a generalized method of treatment. One of the advantages of personalized medicine over traditional
healthcare is its precise approach cuts down costs of treatment considerably as compared to the “trial and error”
method of treatment.
Pharmaceutical companies’ revenue was so far majorly based on “one-size-fits-all” medicines manufactured by them.
However, the advancements in genetics and advent of Next Generation Sequencing (NGS), knowledge of a patient’s
exact genetic makeup has become possible and it was evident that an individual’s disease is as unique as their genetic
structure. Therefore, drug makers are developing tools which can decipher minute inborn differences for making certain
individuals particularly susceptible to certain diseases. The drug makers are developing a safer, more potent drug which
can target the biological differences forming the basis of diseases more precisely. Their target is to produce a myriad of
personalized medicines that can yield huge profits over the forecast period.
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Market Growth and Analysis:
Personalized medicines are related to the field of pharmacogenomics, pharmacogenetics, pharmacoproteomics and
metabolomics. Basic technologies of molecular diagnostics like single nucleotide polymorphism (SNP) genotyping and
biomarkers play an essential role in personalized medicine. It also involves biological therapies which may use patient's
own cells that may or may not be tumorous. Vaccines, Monoclonal antibodies are therefore directed to specific genetic
and immunologic targets. There is an increased focus on early detection and prevention of disease by using
Biochip/microarray technologies and next generation sequencing in modern medicine. Thus, personalized medicine will
involve a great deal of knowledge in nanobiotechnology, bioinformatics, genetics and pharmacology.
Lower probability of medication flaws, rapid results and customized effects and adverse drug reactions are few major
factor behind the increased traction for R&D and revenue potential of the medicines. Furthermore, increasing favorable
government policies for personalized medicine and development of genetic databases is also expected to add potential
opportunities to boost the market growth.
Although, the advent of personalized medicines can bring about an increase in quality of clinical care and also might
decrease the cost of healthcare, with a handful of diagnostic tests and medicines have accepted by the market, with