How Is Precision Medicine Transforming The Health Care Industry?

1. How Is Precision Medicine Transforming The Health Care Industry?

2. Precision medicine is a form of medicine that uses the information of a person’s related to their genes, proteins, and environment to treat and diagnose them from the occurred disease. It is most widely in the case of cancer for specific information about a person’s tumour and helps to diagnose, plan treatment, or make a prognosis. Precision medicine experts believe this to be the future of the healthcare industry. • The group of expert networks comprises precision medicine experts and precision medicine advisors who are experts in the clinical application of genomics and are highly specialized in providing unbiased information to promote the responsible use of genomics in healthcare. • Precision medicine examples include the usage of targeted medicines to treat specific types of cells or the use of tumour marker testing to diagnose cancer. It is also known as personalized medicine. This model proposes healthcare professionals to deliver customized healthcare treatment, including medical decisions, procedures, practices, and products to meet the specific needs of the patients. • Industry professionals estimate that the cardiovascular application of precision medicine will reach a CAGR of 13.3% during the forecasted years 2017-2028.

3. According to a healthcare industry advisor, precision medicine allows doctors and researchers to predict more accurately the treatment and prevention strategies for a particular disease to work for a group of people. Genes, health behaviour, eating habits, exercise, hygiene, and environmental factors are the primary factors which are effects our health. Accelerating healthcare data, healthcare IT, personalization in the healthcare ecosystem is adding dimensionality to the precision medicine business segment of the healthcare industry. Potential long term benefits include the broader ability for doctors to use patients' genetic records and other information for their routine medical care. Key factors that are propelling the growth of this market are the increasing collaborative forums and advancements in cancer diagnosis and treatment. • According to a healthcare research professional, this market is estimated to reach the value of USD84590.21 Mn by 2024 with a CAGR of 9.7% during the forecasted years 2018 to 2024. An expert survey shows that the United States and some European countries are the major hubs for conducting and recruiting of talent pools for the precision medicine globally in the application areas of oncology.