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On the Record

Undoubtedly, precision medicine is gaining momentum.
Recent reports put the market on a growth track to reach
$65-75 billion by 2021, with an estimated average growth
rate of 10-12% (1-3). A flurry of announcements regarding
the main focus therapy area, oncology, shows that the field
is attracting a lot of research attention as well as funding.

Cases in point: the $215 million committed to the
Precision Medicine Initiative database in 2015 and
the subsequent $1.45 billion allocated to precision medicine
as part of the 21st Century Cures Act by the Obama
Administration (4). Meanwhile, China launched a five-year,
$3 billion precision medicine initiative in 2016, and the UK
has announced €300 million funding for a four-year project
to map 100,000 of people’s genomes this year (3,5).
The Swiss pharmaceutical hub of Basel – home to powerhouses
Novartis and Roche – has set up a cross-industry innovation
platform for precision medicine, and Qatar has established a
world-class genome project and biobank (6,7).

This surge of activity has been spurred by innovations
in medical technologies, such as drug discovery, companion
diagnostics, next-generation sequencing, bioinformatics
and big data analytics. These allow the diagnosis of certain
diseases based on the analysis of genetic information –
via genomics and specific biomarker techniques – and
the ability to treat particular diseases with new genetic
manipulation methods.

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Clinerion'sTigran Arzumanov, PhD, MBA,
has been working in the area of Clinical
Research Sales and Marketing since
2004 and has extensive experience in
commercial aspects of both pharma
research services and eClinical solutions.

Le Vin Chin
is Head of Marketing
and Communications at Clinerion and
has been working in communications
and marketing for 20 years in a wide
variety of industries, including software
and services.
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Tigran Arzumanov
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Le Vin Chin
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