Precision Medicine is an emerging medical model that proposes the customisation of healthcare, with medical decisions, practices, and products being tailored to theindividual variability in genes, environment, and lifestyle for each patient. This new approach enables doctors to better assess the patient’s disease risk, thus predicting an optimal therapy. While precision medicines currently individualize treatment on the basis of genomic tests, several promising technology modalities are being developed, from techniques combining spectrometry and computational power to real-time imaging of drug effects in the body.Precision medicine is one of the greatest opportunities for a medical breakthrough, enabling a new era of medicine in which researchers, providers, and patients work together to develop individualized care.
Increased global incidence of cancer and rise in cancer susceptible aging population, cost-effective profiling of DNA, increase in data-driven healthcare, and government funding for R&D are the key factors propelling the growth of the market.The precision medicine market is also surging due to the advancement in technology such as Biomarker-based tests/kits, next gene sequencing, and precise imaging. Moreover, high-throughput omics technologies that have been applied in basic biomedical and biological research are anticipated tofurther fuel the market size.
