Precision medicine (PM) is a medical concept that recommends tailoring healthcare by customizing medical decisions, treatments, techniques, or products to a subset of patients rather than using a one-drug-fits-all approach. Diagnostic testing is frequently used in precision medicine to determine appropriate and optimal therapeutics based on a patient's genetic content or other molecular analysis. Although the term 'personalized medicine' is frequently used to represent this idea, it is sometimes misinterpreted to mean that specific therapies may be tailored to each individual.
As the specialty drug pipeline grows and expands, the definition of a specialty drug continues to shift. Specialty drugs are high-priced prescription medications used to treat complex, long-term illnesses such as cancer. Specialty medications may necessitate unique handling and administration (typically injection or infusion).