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Innovation Incentives and Biomarkers
Ariel D Stern1,2, Brian M Alexander2,3, Amitabh Chandra2,4,5
1Harvard Business School, Boston, Massachusetts, USA.
Clinical Pharmacology and Therapeutics
|October 17, 2017
Summary
Economic incentives are crucial for biomarker development, impacting their discovery and use in healthcare. Diverse roles of biomarkers lead to varied incentives for different stakeholders.
Area of Science:
- Biomedical science
- Health economics
Background:
- Economic incentives significantly influence precision medicine markets.
- Biomarker development is critical for advancing diagnostics and therapeutics.
Purpose of the Study:
- To examine the economic incentives driving biomarker discovery and establishment.
- To understand how diverse biomarker applications affect stakeholder incentives.
Main Methods:
- Analysis of existing literature on economic incentives in healthcare.
- Review of biomarker roles in diagnosis, prognosis, treatment prediction, disease monitoring, and clinical trials.
Main Results:
- Biomarkers offer varied utility, from broad diagnostic/prognostic applications to specialized roles.
- The multifaceted uses of biomarkers create a complex landscape of economic incentives.
Conclusions:
- Tailored economic strategies are needed to foster biomarker innovation.
- Understanding diverse stakeholder incentives is key to maximizing biomarker value in healthcare.
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