Personalized medicine means creatingprecise treatment plans for individuals based on pharmacogenetic and pharmacogenomics data. The practicalities of personalized medicine can be examined by adopting various methods including single nucleotide polymorphism genotyping. In future perspectives, the molecular diagnostics will playkey role in the improvement of personalized medicine, by combination of treatment and diagnosis. In present scenario, there are many examples of personalized medicine, like selecting patients for cancer treatment based on genotype to avoid non-responders or side effects. Selftreatment is economically viable because it reduces drug development costs by shortening the time to drug development. Incorporating pharmacogenomics into clinical trials reduces the likelihood of clinical trial failure and leads to safer, more effective treatments for specific patients. Some of the advantages and challenges of developing personalized medicine are reviewed.The concept of personalized medicine was not new at the time, but it was made possible in the 1990s by advances in DNA sequencing technology, including automation and amplification. The advent of personalized medicine has accelerated the development of health information technology, which involves the electronic processing and storage of patient information. Advances in these areas, especially the use of electronic health records (EHRs) that store patients’ medical histories, medications, test results, and demographic information, are important for integrating data from genetic and genomic studies into clinical settings.