Personalized medicine – the idea of giving patients with treatments that are more effective and have fewer side effects – has been regarded as the greatest opportunity for the health-care system in recent years. In the meanwhile, for some therapies, this has already become a reality. However, because the necessary knowledge and technological foundation is still being developed, just a few applications, products, and services have been commercialized to date. Furthermore, current reimbursement practices, approval procedures, and medical professionals continue to favor traditional drugs. A large-scale implementation of personalized medicine necessitates a shift in the health-care system in general, as well as the pharmaceutical and life-science businesses in particular. While the economic importance of product innovations has long been recognized and encouraged, the focus over the last three decades has shifted to services and product-service systems.