Earlier this month, Indiana University announced a major commitment to research in one of healthcare’s most promising fields, personalized medicine. The Indiana Institute for Personalized Medicine will pursue genome-based and pharmacogenomics studies in cardiology, pediatrics, obstetrics and cancer, as well as other areas . The emergence of personalized medicine, which targets individualized treatment and care based on personal and genetic variation, is creating a thriving market. Indeed, the market for personalized medicine in the United States is $232 billion and is projected to grow 11% annually .
The National Institutes of Health plans to spend $161.3 million over the next five years to expand the Pharmacogenomics Research Network (PGRN), a nationwide collaborative of scientists focused on understanding how genes affect a person’s response to medicines.
“Thanks to breakthroughs in genome sequencing technologies and our growing understanding of genetic variation among individuals, there has never been a better time to propel the field of pharmacogenomics,” said NIH Director Francis S. Collins, M.D., Ph.D. “Through these studies, we are moving closer to the goal of using genetic information to help prescribe the safest, most effective medicine for each patient.”