Personalized medicine is developed and is tailored to fit the patient’s genetic profile. Personalized medicine is one of the largest scientific studies of medicine perform in the United States. This new approach towards individualized treatment and diagnosis has a major impact among the pharmaceutical industry. Innovations that would allow pharmaceutical companies to expand and sustain their businesses financially are becoming a major factor as they explore better health options for their companies and patients. This process has not been an easy road because launching most of the new products for patients have been very difficult.
A lot of companies have resorted to preventive care, vaccines, and alternative products due to the strains associated with personalized medicine. The research for the concepts of personalized medicine has been conducted for little more than a decade. This concept is only 15 years old, and does not have a perfect track record. Many of the medications have failed to get regulatory approval and are not profitable in the marketplace (Booz & Company, 2012). Studies have shown that personalized medicine is creating a new and more value proposition for businesses regarding healthcare.
This type of pharmaceutical industry is changing and setting new healthcare trends for providers such as individual physicians, hospitals, private insurance companies, Medicare, and patients. Some individuals think it will be more beneficial for the physicians and scientist to gather biological and genetic data regarding the patients. This will provide doctors with a clearer and more precise health reading regarding the patient’s conditions. Information was published by Journal of the American Medical Association that could eventually lead to a genetic test that would determine what drug is best for patients who are at risk of heart ailments.
The study also provides concepts of personalized medicine, with hopes that genetic testing will help doctors identify which drugs work best for their individual patients (Wall Street Journal, 2004). Genetic testing allows details of the sample drug to be examined as well as modified for improvement. Drugs that are created would have their own DNA which will allow accurate tracking. Doctors would benefit from the genetic testing because it provides another resource to assist patients. In addition, genetic testing of personalized medicine provided data that can be used to improve the results.
More and more companies are investing in personalized medicine. Inova Health System and Fairfax County, Virginia both have announced they will be making major investments in the Ignite Institute which will be geared toward the research of personalized medicine (Laris, 2009). As a society it could benefit everyone if the researchers, manufacturers, and doctors could establish a relationship to improve personalized medicine. Scientific investigators say the emerging era of personalized medicine would be increasingly possible to discover the genetic drivers of each person’s illnesses.
Doctors, manufacturers, and researchers have to work hard together to determine genetic drivers (Laris, 2009). For example, the researchers could improve their duties by the feedback that the manufacturers and doctors provide. Furthermore, the manufacturers could streamline their operation form the feedback that the researchers and doctors provide as well. Everyone working together provides an opportunity that the patients are receiving the best products as well as service. In conclusion personalized medicine treatment is designed to match the right patient with the right drug depending on his or her condition.
In most cases the treatment will be based on their genotype. Studies have shown that the pharmaceutical industry is emerging as a major driving force among this field. I believe by investing more resources toward the testing and research of personalized medicine, it will allow physicians to determine and prescribe the right medicines to patients and this will avoid prescribing medicines with no vale which may result in side effects that are severe.
Reference: Booz & company. (2012). Retrieved november 15, 2012, from A strategist’s guide to personalized medicine http://www.strategy-business. com/article/00131? gko=75ee7 Genes play role in who benefits from statin; in boost to ‘personalized medicine,’ study links patient genetics with efficacy of cholesterol drug. (2004, Jun 16). Wall Street Journal.
Retrieved from http://search. proquest. com/docview/398849361? accountid=30530 Laris, M. (2009, Dec 22). Montgomery hopes to breathe life into biotech industry; entrepreneurs sought for burgeoning field of personalized medicine. The Washington Post. Retrieved from http://search. proquest. com/docview/410333300? accountid=30530.