According to the white paper "On the Cusp of a Cure" released by global strategy consulting firm L.E.K. Consulting on the 13th, the era of precision medicine is expected to bring about KRW 60 trillion in economic effects and socio-economic value across the healthcare sector in South Korea over the next decade.

Precision medicine is a new approach that provides personalized treatment based on the genetic information and disease characteristics of individual patients, unlike traditional uniform treatment methods, offering the potential for fundamental disease cures. Key technologies of precision medicine include gene therapy, targeted antibody therapies, drug-device combination therapies, and precision diagnostic technologies.

The report was developed by L.E.K. Consulting, a global consulting firm, and a 16-member expert advisory committee from the Asia-Pacific region, using "whole system benefits modelling" to analyze the economic and healthcare effects that precision medicine will bring to South Korea.

According to the report, South Korea, a leading country in pharmaceuticals manufacturing and clinical trials, is expected to see the following effects from the full-scale introduction of precision medicine between 2025 and 2035: ▲ Attracting investments worth approximately KRW 60 trillion in terms of treatment accessibility and clinical trial support ▲ Creating over 20,000 high-skilled jobs in R&D, advanced manufacturing, and diagnostics ▲ Generating indirect economic effects amounting to about KRW 360 trillion ▲ Extending the cumulative survival period of all patients by more than 325,000 years ▲ Reducing healthcare system costs by about KRW 2.2 trillion.

The necessity of precision medicine is further emphasized in diseases with high unmet medical needs, such as cancer and rare diseases. Professor An Jeong-hoon from Ewha Womans University's Department of Convergence Health Science stated, "In 2022 alone, 237,000 people were diagnosed with cancer in South Korea, with over 97,000 deaths," noting that more than 70% of all rare disease patients do not receive optimal treatment. "Precision medicine is setting new treatment standards for these urgent health issues," he said.

Precision medicine technology, which provides improved outcomes compared to traditional treatments through personalized treatment for each patient, is at the forefront of active research and investment. The report analyzed over 1,000 clinical trial data focusing on the core technologies of precision medicine.

Stephanie Newey, L.E.K. Consulting's Australia representative, stated, "More than 4,000 cell and gene therapies have already been developed and are being used in clinical settings. Precision medicine can contribute to reducing patient burdens and overall medical costs by decreasing patient hospitalization rates and follow-up treatments. For example, treating 15,000 blood cancer patients with cell therapy could result in medical cost savings of approximately KRW 339 billion, and the effect would be even greater if cell therapy is used in the early stages of blood cancer."

Precision medicine is presenting new treatment possibilities for diseases such as cancer and genetic disorders, which were previously considered difficult to cure. One of the most innovative examples of precision medicine is CAR-T (Chimeric Antigen Receptor T-cell) therapy. CAR-T therapy modifies a patient's immune cells, T-cells, to attack cancer cells and is used to treat diffuse large B-cell lymphoma (DLBCL), the most common lymphoma in South Korea. Currently, DLBCL patients mainly receive chemotherapy and radiation therapy, but many do not respond to treatment or relapse.

Paul Lee, former representative of Gilead Sciences Korea, stated, "If CAR-T therapy is used in the early treatment of diffuse large B-cell lymphoma, treatment outcomes will significantly improve," adding, "Precision treatment is a very meaningful advancement as it suggests the possibility of complete cure beyond patient reintegration into society or participation in economic activities."

The report identified major challenges that South Korea must address to become a leading nation in precision medicine, including ▲ complex drug pricing policies and reimbursement systems ▲ legal restrictions on the use of genomic data and lack of related infrastructure ▲ lack of awareness among healthcare professionals and patients about precision medicine.

To realize the potential effects of precision medicine and establish itself as a global leader, South Korea needs to ▲ create a regulatory environment that promotes innovation ▲ improve systems and build infrastructure to support genomic data-based R&D ▲ enhance awareness and expand education on precision medicine, the report suggested.

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