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Driving Forces Behind the Past and Future Emergence of Personalized Medicine

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Author(s): Julius Alexander Steffen | Jan Simon Steffen

Journal: Journal of Personalized Medicine
ISSN 2075-4426

Volume: 3;
Issue: 1;
Start page: 14;
Date: 2013;
Original page

Keywords: personalized healthcare | diagnostic testing | genomic medicine | business diversification

ABSTRACT
Personalized medicine can be seen as a continuously developing approach to tailoring treatments according to the individual characteristics of a patient. In some way, medicine has always been personalized. During the last decade, however, scientific and technological progress have made truly personalized healthcare increasingly become reality. Today’s personalized medicine involves targeted therapies and diagnostic tests. The development of targeted agents represents a major investment opportunity to pharmaceutical companies, which have been facing the need to diversify their business due to an increasingly challenging market place. By investing into the development of personalized therapies, pharmaceutical companies mitigate a major part of the risks posed by factors such as patent expiries or generic competition. Viewing upon personalized medicine from different perspectives points out the multi-causality of its emergence. Research efforts and business diversification have been two main driving forces; they do supplement each other, however, are not jointly exhaustive in explaining the emergence of this approach. Especially in the future, a number of further stakeholders will impact the evolution of personalized medicine.
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