What is it?
Personalized medicine (aka precision medicine) that tailors medical treatments, practices, and decisions to the individual patient based on their genetic profile, lifestyle, and environment. The goal of personalized medicine is to optimize treatment outcomes, minimize side effects, and improve overall patient care by considering each person’s unique characteristics. Technologies used in personalized medicine include Genomic sequencing, Pharmacogenomics, Biomarker analysis, Molecular imaging, Big data analytics, Machine learning and artificial intelligence and Wearable devices and remote monitoring, all allowing for the collection of real-time data on patients’ health, enabling personalized interventions and treatment adjustments.
Why is it important?
Personalized medicine allows for improved treatment outcomes, early disease detection and prevention, reduces healthcare costs by avoiding unnecessary treatments and focusing on targeted therapies, encourages patients to take an active role in their health by providing them with information specific to their genetic profile and lifestyle factors.
What industries will it impact?
Pharma & Biotech, Diagnostics & Testing, Healthcare, Data Analytics, Wearable Tech & Digital Health.
Market players
Quest Diagnostics, Exact Sciences, Qiagen, SomaLogic, OneOme, PacBio, Acrivon Therapeutics, Empiriko, SpringWorks Therapeutics, Scorpion Therapeutics, ReCode Therapeutics, Engine Biosciences, Biomea Fusion, Alto Neuroscience, AC Immune.