The Personalized Health Paradigm: Transforming the Pharmaceutical and Healthcare Industries for the 21st Century

HEALTH INDUSTRY INSIGHTS OPINION

The growing ability to access and exploit the expanding wealth of biological knowledge is beginning to transform both the life science and healthcare industries through the emerging field of personalized health. Under siege by sustainability, productivity, cost escalation, and effectiveness issues, companies working in this area need to be looking for the next business paradigm to successfully survive and grow over the long term. Health Industry Insights believes that personalized health can be the foundation for successfully implementing change. Change will not be simple because numerous major conflicting business and technical factors will need to be resolved. Nevertheless, we believe that the personalized health paradigm offers solutions to major issues and uncertainties facing drug companies and healthcare providers today. These solutions include:

• Identifying a viable alternative to the current unsustainable pharmaceutical blockbuster model
• Improving the efficiency of drug development and improving patient outcomes by better leveraging knowledge in routine industry practices
• Extracting immediate cost savings from the current healthcare system while making the move toward outcomes-based medicine

IN THIS REPORT

This Health Industry Insights Market Overview describes the overall framework, key drivers, and likely barriers that are expected to impact adoption of the emerging field of personalized health by key stakeholders in both the life science and healthcare value chains. This report concludes with identification of several key indicators that can be used to gauge where, when, and how effectively personalized health innovations are being adopted by specific market segments. Pharmaceutical companies, biotechnology companies, clinical trial and other supporting organizations, healthcare providers, and healthcare payers will all be affected, and segments of the value chains can benefit from specific knowledge-based opportunities for personalized health.

SITUATION OVERVIEW

With detailed biological (especially human biology) data growing and accumulating at geometric rates, the ability to develop knowledge by connecting and integrating this data into usable models is providing the foundation to begin to understand the complex nature of biological systems. Effective use of this data and knowledge offers the potential to begin to understand the detailed workings of biological systems, including human beings. As this knowledge begins to be applied to sickness and disease, the opportunity to understand, manage, and treat disease begins to change at the individual level through recognition of how individual variations affect health, wellness, and the effectiveness of therapeutic treatments for disease.

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