Global Precision Medicine Software Market is expected to witness a healthy CAGR of 10%
Precision medicine, sometimes known as "personalized medicine" is an innovative approach to tailoring disease prevention and treatment based on the individual’s unique characteristics and genetic make-up. Precision medicine software (platforms, data-sharing networks, clinical decision support software, AI-enabled, etc.) provides the healthcare/life sciences community with integrated data and data-driven insights to strengthen their precision medicine program. Shift from the Dominant One-Size-Fits-All Approach to Personalized Care Approach The precision medicine approach promises better clinical outcomes, safer medicines, and less wastage/cost savings. With the increasing demand to provide value to healthcare systems, drug developers have started to move away from the traditional one-size-fits-all approach to the personalized care approach. In 2020, the FDA approved 20 personalized drugs and biologics (39% of the new approvals). Precision medicines accounted for a quarte...