ఫార్మకో ఎకనామిక్స్: ఓపెన్ యాక్సెస్

Economic Evaluation of Personalized Medicine: An Application of Cost-Effectiveness Analysis

Abstract

Saud Ksahali*

Personalized medicine has emerged as a promising approach to healthcare, tailoring medical treatments to individual patients based on their genetic makeup, lifestyle factors, and environmental influences. While personalized medicine offers the potential for improved patient outcomes and targeted interventions, its economic implications have garnered significant attention. This paper explores the economic evaluation of personalized medicine, with a specific focus on the application of Cost-Effectiveness Analysis (CEA). By quantifying the costs and outcomes associated with personalized medicine interventions, CEA provides a framework to assess the value and efficiency of these treatments. This analysis reveals the complexities involved in evaluating personalized medicine from an economic perspective and highlights the need for robust data, appropriate methodology, and consideration of broader societal implications.