Economics of Personalized Medicine
The success of personalized medicine cannot be measured in dollars alone. The improvement in healthcare and quality of life with reduction of disease burden will have an impact on all aspects of human life with economic benefits. A discussion of financial aspects, of personalized medicine, however, is important for two reasons: (1) pharmaceutical companies would like to know if it would be profitable; and (2) healthcare providers would like to know if it is affordable. Development of personalized medicine would also affect the pharmaceutical markets, which will be discussed later in this chapter. A more detailed description of the commercial aspects of personalized medicine including markets and profiles of companies involved in developing various relevant technologies can be found in a special report on this topic (Jain 2009g).