About Personalized Medicine
Personalized medicine, also referred to as genomic medicine, is changing the landscape of healthcare. By harnessing the power of genetic testing, physicians can make more informed healthcare decisions and better target treatments and drug therapies. The result is better healthcare outcomes.
Genetic tests are used in all areas of medicine – from prevention and screening to diagnosis and treatment. G2 Intelligence estimated that the market was $14.3B in 2010 and growing rapidly at 16% per year1 and the Food and Drug Administration (FDA) states that more than 100 medications have pharmacogenomic information included in their drug labels2. Research by the Tufts Center for the Study of Drug Development indicates that oncology leads other therapeutic areas in the number of targeted therapies on the market as well as in the pipeline, with the expectation that within the decade all oncology drugs will have a related diagnostic. Other key therapeutic areas in which personalized medicine is impacting clinical decision-making include cardiovascular, neurologic, and immunologic therapies, whereas personalized medicine development is just getting started for metabolic and respiratory therapies, as well as virology3. With the advent of all of this new technology and information available to healthcare professionals and consumers, it will be critical to stay abreast of the new developments.
Low-cost whole genome sequencing (WGS) is on the horizon as well, adding a profound new dimension to the personalized medicine arsenal. Healthcare providers and consumers will be challenged with how best to interpret the information available to them.
As advances in personalized medicine continue, patients benefit from the deeper knowledge that genomics brings to healthcare decision making and outcomes.
1. G2 Intelligence: Lab Industry Strategic Outlook 2011: Market Trends & Analysis
3. Personalized Medicine Is Playing A Growing Role In Development Pipelines November/December 2010 Tufts CSDD Impact Report ; Vol12:6