Pharmacoeconomic Evaluation of Personalized Medicine in Chronic Diseases

Dr Anand Singh

IILM University

Knowledge Park II, Greater Noida, Uttar Pradesh 201306 India

anandsingh7777@gmail.com

Abstract

Personalized medicine has emerged as a transformative approach in managing chronic diseases by tailoring therapies to individual genetic, environmental, and lifestyle factors. This manuscript reviews the pharmacoeconomic implications of personalized medicine, focusing on its cost-effectiveness, quality-adjusted life years (QALYs), and overall impact on healthcare systems. We explore literature up to 2017, detailing methodological approaches, statistical analyses, and case studies that illuminate the benefits and challenges associated with personalized therapeutic strategies. The analysis highlights significant cost variances, differential outcomes, and incremental benefits compared to traditional therapies. Ultimately, this work provides a critical assessment of personalized medicine’s economic viability, offering insights for future research and healthcare policy formulation.

Keywords

Personalized Medicine; Pharmacoeconomics; Chronic Diseases; Cost-Effectiveness; Quality-Adjusted Life Years; Health Economics; Incremental Cost-Effectiveness Ratio; Economic Evaluation

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