While the days of high market growth, driven by the human genome project, are behind us, the era of personal genomics is yet to begin. Next generation genomics technologies are breathing new life into the market, and are expected to contribute to the robust growth of the U.S. genomics market between 2005 and 2012. Top industry participants are successfully developing specific applications for each evolutionary stage of the genomics research process, and are likely to maintain revenue streams, while strategically positioning themselves to penetrate the future markets for clinical applications of genomic technologies.
New analysis from Frost & Sullivan (drugdiscovery.frost.com), Strategic Analysis of U.S. Genomics Markets, reveals that revenues in this market totaled $1.85 billion in 2006, and is likely to reach $3.69 billion in 2012.
That doubling in revenue will occur along with a huge increase in the amount of DNA sequence produced per dollar spent. Leading industry figures expect a 3 order of magnitude drop in sequencing costs perhaps as soon as 5 years from now.
Scientists are doing most of the DNA sequencing for their own research purposes today. But at some point in the next 5 to 10 years the desire to learn one's own personal genome sequences will become the biggest source of demand for DNA sequencing services. Also demand will grow for surreptitious DNA sequencing services so that people can learn the DNA sequences of love interests, prospective employees, celebrities, and business competitors. Science will turn up all sorts of practical uses of DNA sequence information and your genetic privacy will become very hard to protect.
|Share |||Randall Parker, 2007 September 04 11:42 PM Biotech Advance Rates|