Recently the White House released American innovation new strategy, report indicated the precision medicine as a future development strategy in the field of health care in the US, the United States has budgeted to invest $215 million to start the precision medicine projects in 2016, under the premise to protect the privacy of personal information, drive the development of genomics, big data analysis and health information technology. In China, the ministry of science and technology held meeting for the precision medicine for the first time in March, meeting pointed out that China will invest 60 billion Yuan to develop precision medicine markets by 2030, initiated a strong attention from the capital market for precision medicine in China.
What is the precision medicine?
Precision medicine is a medical model that proposes the customization of healthcare, with medical decisions, practices, and/or products being tailored to the individual patient. In this model, diagnostic testing is often employed for selecting appropriate and optimal therapies based on the context of a patient鈥檚 genetic content or other molecular or cellular analysis. Tools employed in PM can include molecular diagnostics, imaging, and analytics/software.
Including the precision diagnostics and precision therapy, the market has exceeded $60 billion. In the past, the general standard of treatment for the diseases were apply medicine according to indications, but today, along with the advancement of life science technology, people found the same disease in different live entities may require different remedies, that was the original concept of precision medicine. The premise to implement precision medicine is perfect the precision diagnostics, which means considering the genetic detection as core for molecular diagnosis technique. After the precision diagnostics, the precision treatments need to follow up, commonly known as targeted therapy technique, which including the targeted drugs, antibody-based drugs, cellular immunotherapy, stem cell therapy and so on.
Precision medicine has comprehensive applications in field of medical services, especially in prenatal screening, tumor detection, genetic disease screening and pre-implantation screening, and cancer and cardiovascular disease which are complicated pathogenesis. Currently the global market has exceeded $60 billion, the precision diagnostics accounted for approximately $10 billion, and the precision therapy had amount to $50 billion. Within the 5 years, the global precision medicine market size will stay growth at 15% average annual growth rate, and the China will be at 20% annual growth rate.
