Due to genetic factors, stress, pollution, aging, alcohol and tobacco abuse, and many other reasons, the prevalence of chronic diseases, such as cancer, cardiovascular diseases (CVDs), asthma, and chronic obstructive pulmonary disease, is rising. These and other diseases, though affecting a large chunk of the population, often affect individuals differently. In the same vein, one treatment that is effective for one person may not be for another. Since, the realization of the fact that people’s genetics plays a key role in determining how a disease will behave or how they will respond to the treatment, the demand for precision medicine, has been growing.
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The government support to precision medicine in other parts of the world has been equally strong. For instance, Argentina initiated the Precision Medicine Initiative Grant in 2017, so that the experimental techniques and knowledge could be put to clinical use. The reason this field of medical sciences is gaining such significance is that personalized medicine is developed after extensively studying the genes of individual patients. This helps in deciphering how the disease will behave inside the person’s body, which further allows the healthcare fraternity to design treatments specifically for that individual.
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As this entire approach is still majorly experimental, North America is the most-productive precision medicine market currently. Numerous pharmaceutical and biotechnological companies offering products in the areas of genetic and genomics exist in the region. Additionally, researchers and academic institutes in the continent are receiving heavy funding from venture capitalists and government organizations. Further, the rapidly rising COVID-19 case and death counts have made personalized treatments a necessity, especially since the complications of the disease have been diverse here.
Precision medicine is offered in the form of therapeutics, personalized medical care, and diagnostics. Among these, therapeutics are the most-widely provided form of precision medicine on account of the various benefits personalized therapeutics offer, especially with advancements in the genetics field. In the years to come, the demand for personalized medical care will increase the fastest owing to the rising funding and grants by governments for telemedicine and increasing demand for patient monitoring services, especially in far-flung areas.
Therefore, with continuous research activities and clinical trials, the field of precision medicine will keep advancing.
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