New research sponsored by the Personalized Medicine Coalition (PMC) and conducted by the Tufts Center for the Study of Drug Development (CSDD) shows that the future looks bright for personalized medicine, and the biopharmaceutical industry is leading the charge in finding new medicines for patients.
Personalized medicine, sometimes referred to as precision or individualized medicine, is an emerging field of medicine that uses diagnostic tools to identify specific biological markers, often genetic, to help assess which medical treatments and procedures will be best for each patient. Personalized medicine promises improved health outcomes for patients and can improve efficiency in the healthcare system.
We’ve seen tremendous growth in personalized medicines in recent years – the U.S. Food and Drug Administration (FDA) has approved nearly 140 medicines that have biomarker information on their labels and in 2014 alone 20% of FDA’s approvals were for targeted therapies. The biopharmaceutical industry has long been engaged in the discovery and development of personalized medicines, and continues to increase investment in advancing personalized medicine.
- 42% of all compounds and 73% of oncology compounds in the pipeline have the potential to be personalized medicines.
- Biopharmaceutical companies nearly doubled their investment in personalized medicines in the last five years and expect an additional 1/3 increase in the next five.
Learn more about the survey here and discover the value and promise of personalized medicine in the Value of Personalized Medicine Chart Pack.