Average cost for precision medicine treatment worldwide by region 2022-2027
In 2022, the cost of treatment with precision medicine in North America stood at nearly 300,000 U.S. dollars on average. By 2027, however, it is projected that this cost will decrease to below 260,000 dollars. The idea behind precision medicine, also called personalized medicine, is that every patient needs a specific, tailored approach instead of a one-size-fits-all approach. This is the case, for example, with the various types of cancer which are impacted by many individual factors like people's genetics, lifestyle, environment, etc.