The growing advances in proteomic and genomic sciences have boosted the emergence of personalized therapies. Personalized medicine is an emerging approach in today’s healthcare systems. Personalized medicines are now being used as a mainstream clinical approach, changing the methods for identifying, classifying, and treating diseases. These medicines are increasingly recognized by policymakers, driving innovative approaches to develop and produce personalized therapies.
Personalized/precision medicine uses an individual’s genomic information to offer targeted treatment. Rapid developments in sequencing large sections of a person’s genome have accelerated precision medicine advancements. Precision medicine is emerging as an effective alternative to existing therapies, allowing novel treatments for several cancers. These analyze the molecules, individual genes, and networks and translate them into an overall output for the systems of the human body. Additionally, personalized medicines have the potential to tailor therapies with the best response and highest safety margin to ensure better patient care.
Personalized/precision medicine helps to find certain cancer early, helping identify people at a high risk of cancer. It correctly diagnoses a specific type of cancer and helps to choose the best cancer treatment for the patient. Furthermore, it also evaluates the progression of the treatment. These tests go by different names, including biomarker testing, tumor testing, tumor genetic testing, tumor marker testing, tumor subtyping, genomic testing, genomic profiling, genome sequencing, molecular testing or molecular profiling, somatic testing, and next-generation sequencing.
The personalized or precision medicine medical treatment model considers individual differences in patients’ genomes, environments, and lifestyles. It allows doctors and medical researchers to customize healthcare for patients with medical decisions, practices, and products. Most organizations conducting precision medicine have been focusing on cancer. Precision medicine aids in diagnosing cancer and other diseases more accurately by evaluating the specific genetic makeup of the tumors to select the most effective and safest treatments for cancer patients. The use of precision medicine has benefited many cancer types, including breast cancer and lung cancer. In addition to cancer, precision medicine is also being conducted in other disease areas, such as neurological and cardiovascular diseases.
Advances in personalized medicine have already led to powerful discoveries and several new FDA-approved treatments tailored to individual-specific characteristics. In 2021, the Center for Drug Evaluation and Research (CDER) approved 50 new molecular entities (NMEs). The Personalized Medicine Coalition (PMC) classified 17 of them as personalized medicines. The Personalized Medicine Coalition reported that personalized medicines now account for more than a quarter of the new therapeutics approved since 2015. Over the last four years, they have comprised more than a third of new drug approvals.
Thus, realizing the importance of personalized medicine, leading pharmaceutical players are increasing their focus on personalized medicines. For instance:
- In September 2021, Huma Therapeutics Limited (U.K.) collaborated with Bayer AG (Germany) to advance precision treatment for lung cancer.
- In December 2020, Merck KGaA (Germany) collaborated with Artios Pharma Limited (U.K.) to develop and identify precision oncology drug candidates.
- In November 2020, OrigiMed (China) partnered with Takeda Pharmaceutical Company Limited (Japan) to develop a genomic-based precision medicine platform to accelerate the R&D and commercialization of innovative medicines.
Thus, growing awareness regarding personalized medicines and active R&D in the area of personalized medicines is expected positively impact the field of cancer care, thereby driving the tissue diagnostics market.
According to Meticulous Research®, the global tissue diagnostics market is projected to reach $8.52 billion by 2029, at a CAGR of 7.4%.
Download Research Sample @ https://www.meticulousresearch.com/download-sample-report/cp_id=4971