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Considering the Impact of Personalized Medicine

Logistics and transportation firm Quick Specialized Healthcare Logistics offers insights into managing developing therapeutic treatments through the life sciences supply chain.

This photo depicts temperature-sensitive product logistics. Photo supplied by Quick Specialized Healthcare Logistics.
This photo depicts temperature-sensitive product logistics. Photo supplied by Quick Specialized Healthcare Logistics.

When the Precision Medicine Initiative (PMI) was launched in January 2015 as “a bold new research effort to revolutionize how we improve health and treat disease,” according to The White House, it brought challenges to the entire healthcare supply chain.

The U.S. FDA’s website, for example, said, “The vast amount of information generated through next-generation sequencing (NGS) poses novel regulatory issues for FDA.”

Some refer to individualized therapies as precision medicine, stratified medicine, pharmacogenomics, or personalized medicine. Whatever term is used, its market potential is significant. For example, a recent report from Grand View Research (GVR) forecasted the global personalized medicine market to reach US$2,452.50 billion in 2022, rising at an 11.8% Compound Annual Growth Rate between 2014 and 2022.

What’s behind this healthy growth? GVR's report cited the following factors:

• Growing healthcare expenditure levels triggering the need for an effective diagnostic procedure for cancer, the growing prevalence of cancer and increasing usage of combination biomarkers for diagnostics.

• Increasing adoption of next-generation sequencing for genetic mapping of patients by clinicians and medical practitioners worldwide.

INTRODUCING! The Latest Trends for Life Sciences at PACK EXPO Southeast
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INTRODUCING! The Latest Trends for Life Sciences at PACK EXPO Southeast