Need for Improved Patient Care and Reduced Cost to Drive Personalized Medicine Market

Personalized medicines refer to those drugs that are made on the basis of intended patient groups or an individual patient carrying specific biomarkers. These medicines are made to meet the need of an individual patient depending on the response generated by the patient affected by a certain disease. These medicines have proven to be effective in the treatment of patients suffering from rare genetic disorders and cancer, which is likely to trigger development of the global personalized medicine market in the coming years.

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Personalized medicine also goes by many other names, such as P4 medicine, stratified medicine, or precision medicine. Diagnostic analysis is used frequently carried out to figure out the best and the most suitable method of treatments depending on the cellular or molecular analysis and genetic content. Personalized medicines come with highest safety margin and most suitable response so as to improve patient care. It enables each and every patient to attain risk assessment and earlier diagnosis. In addition to that, overall cost of treatment is reduced and patient care is improved considerably. All these factors are estimated to fuel development of the global personalized medicine market in the near future.

Next Generation Sequencing to Shoot Up Demand for Personalized Medicines

Personalized medicine comes with a promise of paradigm shift in care delivery and diagnosis as it is based on the information and data harnessed from the holistic view of an individual patient. The increasing penetration of sequencing methodologies, particularly Next Generation Sequencing (NGS), has resulted from the increasing development and sequencing cost of Human Genome Project in the field of genomics is forecasted to pave way for rapid growth of the global personalized medicine market.

The next generation sequencing technology offers data and information pertaining to the genetic makeup of a patient and his or her response to drugs. This factor is anticipated to play a vital role in driving the demand for personalized medicine.

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Author: Rohit Bhisey

As Head of Marketing at TMR Research, Rohit brings to the table over a decade of experience in market research and Internet marketing. His dedication, perseverance, and passion for perfection have enabled him to achieve immense success in his field. Rohit is an expert at formulating new business plans and strategies to help boost web traffic. His interests lie in writing news articles on technology,healthcare and business.

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