Top 5 Potential Technologies Catering to the Future of Precision Medicine
Precision medicine is a method to prevent and treat diseases considering individual variability in genes, environment, and lifestyle of each person. The precision medicine approach allows doctors and researchers to predict the treatment and prevention planning and procedure for diseases that will work more accurately and for which group of people.
Data unavailability, limited technology, expensive testing, and treatment methods have led to the increasing demand for precision medicine which is largely focused on oncology.
However, not only in oncology but precision medicine techniques are rising the advancements in data collection, technology, and genetics. At the same time, several other technologies are also emerging in the world of precision medicine which is discussed further.
Major Developments in the Precision Medicine Market
Specialists, pharma companies, diagnostics, etc., are stepping toward proficiently assimilated technologies to analyze data-based models of genomes and biomarkers that can help in formulating apt treatments for their patients.
Companies such as QIAGEN N.V., PerkinElmer, Inc., F. Thermo Fisher Scientific Inc, and Hoffmann-La Roche Ltd., having a strong global presence and expansive portfolio, are significantly dominating the Middle East precision medicine market.
The rising advancements in the prevalence of chronic disease, sequencing technologies to cater to chronic diseases while decreasing adverse drug and the potential to reduce overall healthcare costs across the globe have led the Middle East precision medicine market to witness high growth.
According to the BIS Research report, the Middle East precision medicine market is expected to grow with a CAGR of 7.37%, which was estimated to be at $3.94 billion in 2021 and is expected to reach $8.62 billion by 2032.
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Key Technological Advancements in Precision Medicine
With the potential to exceptionally diagnose and prevent a wide range of diseases, precision medicine is transforming the healthcare industry.
Yet some technological advancements are required and are in the process for precision medicine in the prediction, detection, and treatment procedures of various diseases to revolutionize the healthcare industry.
To unlock the value of precision medicine, major investments are made in the deployment and development of such novel technologies that can open up the doors of digital platforms in the healthcare industry. Digital devices and imaging will help in collecting the data. Data analytics and artificial intelligence are highly advantageous in building computational models for treatment and prevention recommendations.
Some of these technologies are:
Machine Learning: The introduction to machine learning in precision medicine brings data set analysis of clinical, genetic, and socioeconomic data with high computational power.
Cancer care and chronic disease management are most burdensome to patients, communities, and health systems. Machine learning in precision medicine can help in concentrating resources to prevent these conditions with early screening and diagnosis of such diseases.
Internet of Things (IoT): Smart devices have telemetry information and go into the big data model of precision medicine to get remote care delivery data of patients and their diseases, such as real-time streaming of oxygen or heart data of patients.
IoT provides streams of data to healthcare executives, which gradually increases the data volume for better healthcare benefits. This collection of data will not only help design the best-personalized treatment for patients but will also help identify the patients who need early screening and intervention for further treatment required.
Artificial Intelligence (AI): With AI becoming more ubiquitous, medical researchers, clinicians, health systems, and other governmental organizations and research centers have reluctantly seen improvement in the treatment of diseases through a real-time diagnosis of diseases and catering to their prevention method.
AI enables various analytical tools to monitor medical algorithms regularly, which allows many healthcare investors to show a keen interest in the development of AI in precision medicine.
Mobile Monitoring: The development of pilot programs like the organization connecting through the web where doctors can easily monitor and can easily proceed with the treatment with all accurate data on screen helps to barge the barrier of distance.
After the COVID-19 pandemic, most industries started to work remotely through digital platforms, which have emerged as cutting-edge technology even in the healthcare industry.
Patient Access Centers: The advancement of tools that can assist patients with care navigation of their treatment and healthcare procedure will allow an improved and directed patient experience.
These tools are combined with next generation call centers that can be easily accessed by patients 24/7 for care and treatment options and directly connect doctors and patients to the right place at the right time for medical needs.
Conclusion
The precision medicine market is a broad market comprising the overall therapeutics and diagnostics ecosystem. Health data in precision medicine and personalized care are concepts that can provide benefits to patients by reducing the treatment cost along with disease occurrences.
New technologies in precision medicine can provide precise treatments to patients and bring on the cusp of the medical revolution to happen.
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