By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Health Works CollectiveHealth Works CollectiveHealth Works Collective
  • Health
    • Mental Health
    Health
    Healthcare organizations are operating on slimmer profit margins than ever. One report in August showed that they are even lower than the beginning of the…
    Show More
    Top News
    bowl of vegetable salad
    Raw Foods: benefits and harms
    November 9, 2021
    pros and cons of the keto diet
    Read This Before You Follow the Keto Diet
    May 18, 2022
    spinal cord injuries
    4 Potential Causes of Spinal Cord Injuries (and How to Seek Compensation)
    May 25, 2022
    Latest News
    7 Most Common Healthcare Accreditation Programs: Which Should You Use?
    August 20, 2025
    Hospital Pest Control and the Fight Against Superbugs
    August 20, 2025
    Hygiene Beyond The Clinic: Attention To Overlooked Non-Clinical Spaces
    August 13, 2025
    5 Steps to a Promising Career as a Healthcare Administrator
    August 3, 2025
  • Policy and Law
    • Global Healthcare
    • Medical Ethics
    Policy and Law
    Get the latest updates about Insurance policies and Laws in the Healthcare industry for different geographical locations.
    Show More
    Top News
    The Hidden Epidemic of Nursing Home Abuse
    February 16, 2021
    Smiles Make the World Go Around
    August 25, 2017
    Those Pesky Tension Headaches
    September 12, 2017
    Latest News
    How Social Security Disability Shapes Access to Care and Everyday Health
    August 20, 2025
    How a DUI Lawyer Can Help When Your Future Health Feels Uncertain
    August 20, 2025
    How One Fall Can Lead to a Long Road of Medical Complications
    August 20, 2025
    How IT and Marketing Teams Can Collaborate to Protect Patient Trust
    July 17, 2025
  • Medical Innovations
  • News
  • Wellness
  • Tech
Search
© 2023 HealthWorks Collective. All Rights Reserved.
Reading: How Machine Learning Is Shaping The Future Of Precision Medicine
Share
Notification Show More
Font ResizerAa
Health Works CollectiveHealth Works Collective
Font ResizerAa
Search
Follow US
  • About
  • Contact
  • Privacy
© 2023 HealthWorks Collective. All Rights Reserved.
Health Works Collective > Policy & Law > Health care > How Machine Learning Is Shaping The Future Of Precision Medicine
eHealthHealth careNews

How Machine Learning Is Shaping The Future Of Precision Medicine

Shankar Khatkale
Shankar Khatkale
Share
6 Min Read
SHARE

 

The precision medicine market has come to be viewed with a renewed perspective as more and more partnerships make their way into this space. Recently as a matter of fact, in a partnership between Medidata’s Rave Omics and Castleman Disease Collaborative Network, new patient subgroups and biomarks were revealed that can potentially accelerate diagnosis and treatment of Castleman Disease.

Siltuximab, the only FDA approved drug in the U.S. that is used for the treatment of Idiopathic Multicentric Castleman Disease (iMCD), has an efficacy rate of approximately 34% of patients who participated in a randomized trial. Medidata, in collaboration with CDCN, discovered 6 new subsets of patients who reflected either proteomic disease states or distinct subtypes for iMCD and these newly discovered subsets had a response rate of 65% to siltuximab which is almost double the previous response rate and one major step towards providing personalized medicine for the treatment of Castleman Disease.

Considering that this is only one of the numerous instances of how precision medicine is disrupting the healthcare industry, it is rather discernible that the global precision medicine market is set to witness expansive growth rate over 2018 to 2024.

Advancement in bioinformatics and gene sequencing has added a major impetus to the development of the precision medicine market. Indeed, such advancements are bringing forward new ways to treat diseases and disorders that had no solution in the past. Increasing incidences of genetic disorders such as sickle cell anaemia, thalassemia, hemophilia among many others across the globe are also another reason for the healthcare industry players to be focusing their efforts in expanding the precision medicine market, as personalized medicine has emerged as the new age solution to mitigate such disorders rather than a one size fits all approach.

Oncology to emerge as a profitable growth avenue for precision medicine industry

Incidentally, cancer treatments have accounted for a significant portion of the precision medicine market revenue in recent times and the oncology segment of the precision medicine industry is expected to register an impressive 11.1% CAGR over 2018-2024. One instance that confirms the prediction is the recent approval by the U.S. Food and Drug

Administration of a precision drug that can address a wide range of cancers based on a shared mutation. The new medicine called Vitrakvi or larotrectinib was approved simultaneously for adults as well as for children though oncology drugs are considered much later for children and are meant for patients in whom surgery is likely to cause severe complications and have no satisfactory alternatives. Such instances of success in bringing new drugs to the market that are more specifically designed to succeed in their function are adding new growth avenues for precision medicine market contenders.

Increasing investments in genomics to augment precision medicine industry

The advent of machine learning and artificial intelligence in the field of healthcare has helped in the growth of precision medicine market in a big way as machine learning is an apt method of mitigating the losses faced in the clinical trial phase in which 90% of the drugs fail.

Recently the Oxford based pharmaceutical company, Genomics, collected €9 million in a series B round of funding as it will be using genomics technology for personalized medicine. Leading U.S. pharmaceuticals and life sciences investors such as F-Prime Capital, Foresite Capital and Vertex Pharmaceuticals have participated in the fund-raising round. Genomics utilizes algorithms for genetic data mining and predicting therapeutic intervention outcomes.

With a 100 billion data points that link genetic variations in nearly 14 million human genome positions, genomics arguably has one of the largest databases of its kind and a major contributor to the future of precision medicine industry.

Private investment foundations are also taking an active interest in the growth of the precision medicine market. For instance, recently Blavatnik Family Foundation has gifted a $200 million grant to the Harvard Medical School to help in the acceleration of precision medicine research as well as for the advancement of artificial intelligence and increasing scientific collaboration. The endowment is meant to facilitate precision medicine initiative that was previously hindered by insufficient therapeutic discovery funding, inadequate access to new technologies, obstacles to therapeutic optimization and cultural divide between academic and industry scientists. With the grant, the Harvard Medical School can now focus on single-cell sequencing research that can provide information about the smallest cellular shifts which result in influencing health and disease.

Conclusion

The robust instances of increased investments in the precision medicine industry is not a rarity, making it one of the fastest growing markets in the coming years. The vast expanse of this industry is rather evident from the fact that the precision medicine market size has been forecast to exceed a mammoth USD 96.6 billion by 2024.

TAGGED:drug designmachine learningmedicineprecision medicinePrecision medicine market
Share This Article
Facebook Copy Link Print
Share

Stay Connected

1.5kFollowersLike
4.5kFollowersFollow
2.8kFollowersPin
136kSubscribersSubscribe

Latest News

engineer fitting prosthetic arm
How Social Security Disability Shapes Access to Care and Everyday Health
Health care
August 20, 2025
a woman explaining the document
How a DUI Lawyer Can Help When Your Future Health Feels Uncertain
Public Health
August 20, 2025
physiotherapist at work
How One Fall Can Lead to a Long Road of Medical Complications
Health care
August 20, 2025
Common Healthcare Accreditation Programs
7 Most Common Healthcare Accreditation Programs: Which Should You Use?
Health News
August 20, 2025

You Might also Like

(Some) Docs Launch War on Overutilization

February 19, 2012
natural tips to improve fertility
News

What Are Some Natural Ways You Can Boost Fertility?

May 18, 2022
HIPAA Cloud
Medical RecordsPolicy & Law

HIPAA Data Breaches Result in Hit to Patient Loyalty and High Costs

October 24, 2013

Addendum to Posts on How to Get Support Online–For Any Illness: patientslikeme

July 4, 2012
Subscribe
Subscribe to our newsletter to get our newest articles instantly!
Follow US
© 2008-2025 HealthWorks Collective. All Rights Reserved.
  • About
  • Contact
  • Privacy
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?