Precision Medicine –A Multi-Faceted Approach to Patient Care

The year 2003 marks the completion of the Human Genome Project, a 13-year, $3.00 billion collaborative effort for the sequencing and mapping of the complete human genome. Human Genome Project further enabled scientists to research extensively on the gene variants to specific diseases and develop targeted therapeutics. The completion, consequently, created the platform for the development of precision medicines. Since its introduction in the early 21st century, the precision medicine market has shown promising growth.

Precision medicine involves a detailed study of patient-specific information to diagnose and characterize the diseases, resulting in target-based treatment of diseases. The concept of precision medicine is rapidly growing in the medical community through tremendous expansion in various advanced technologies, such as next-generation sequencing, molecular biomarker analysis, bioinformatics, and big data analytics, among others. Precision medicine acquired immense potential to prevent and treat various diseases such as cancer, cardiovascular, neurology, diabetes, and other diseases, which are burdening the present healthcare system, owing to such advanced technologies.

View BIS Report on Precision Medicine Market

Precision medicine holds immense potential to restructure the healthcare industry. It is an emerging approach that enables the investigation of various diseases by evaluating the genetic makeup of an individual subject, thereby providing tailored treatment to each patient. By applying a thorough understanding of diseases with rich patient data, accurate risk assessments, active monitoring, early detection, and advanced analytics, precision medicine can help physicians tailor medicines in accordance with the needs of individual patients leading to better outcomes at potentially lower costs.

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