Monday, February 6, 2012

Canada Moves Highlights Interest in Personalized Medicine

A challenge to anyone promoting a therapeutic or a medical device in healthcare markets currently is that no matter how good it is, even if it is better than current regimens, payors both in the U.S. and Europe are seeking to cut costs, and that usually doesn't present a good market for innovative but more expensive solutions. This austerity is lead by governments, and is echoed by private payors.

Most major governments have undergone some type of cost-cutting program. In the U.S., while healthcare reform will likely expand the insured population, it also can be considered at least partially a 'cost-cutting' program that features payment decreases to providers and fees on devices.

It's possible that tests may be different, particularly those molecular tests that can improve patient outcomes and lessen the use of a therapeutic in a case where it has little probability of working. Canada's recent move to provide millions for personalized medicine products highlights how even in an austerity time, a product that can cut costs long-term has promise.

Kalorama has always discussed personalized medicine in its IVD reports, but we have recently completed our first full market research study on the concept. Personalized Medicine Diagnostics is available for pre-publication orders now and will publish on March 1st, 2012.