Personal Genomics in India- A brighter future ahead
Analysis predicts that the global genetic industry is going to grow at a CAGR of 9.65% from 2014-2019. Some of the major segments like pharmacogenomics, diagnostic testing, and personal genomics are expected to make the most contributions to the revenue of the overall market in the upcoming years. As far as the genetic testing market is concerned it is expected to touch $ 2.2 billion by 2017. That tells you about the growth opportunity one has in the genetics industry.
Still young in India,
While in India it is still a new concept, focusing mainly on diseases like cancer and other extreme ones. Patients and their family members are being more and more proactive towards their health care and that in turn has driven the labs and hospital towards innovating. Healthcare industry has embraced some of the application of genetic testing for diagnostic and disease prevention and thus solving a lot of problems. There are about 20+ hospital and labs doing research work on many extreme diseases. Apart from that, there are several start-ups working on personal genomics and DNA sequencing.
Day in day out this industry is evolving, and people are keen to know what more can genetic industry offer.
Now, because of more and more players entering the industry, genetic industry- mainly personal genomics is getting a lot of attention. They are using it for coming up with a better and more accurate approach towards well-being. Many companies are using genomics for different kinds of analysis as well.
Accuracy and range of Information,
Genetic testing has benefitted most in terms of accuracy and at the same time, the wide range of information is procured out of it. Test results can help people get more understanding of their body and help in making decisions about managing their health. For example, a negative result for a disease can eliminate the need for unnecessary check-ups and screenings, while at the same time a positive result can direct a person towards more customized detection, monitoring, and prevention or treatment options. It also helps them get to know about genetic disorders flowing in the family and how to stay on top of it.
The trick behind these innovations is simply – finding more and more applications of genetics and incorporating it in our daily life in a cost-effective way. So, the key is doing more research and studies and using the same for day to day lifestyle applications.
What genetic testing essentially does is, it provides information about a person's genes and chromosomes, in turns you know a person inside out and by analyzing those details properly we can use it to our advantage. Available types of testing include New-born screening, Diagnostic testing, Carrier testing, Prenatal testing, Pre-implantation testing, Predictive and pre-symptomatic testing, Forensic testing and many more.
Opportunities
Personal genomics and genetic testing are slowly finding its liking among the population in India with a continuously evolving offering from the start-ups. Today, healthcare & wellness are important for people and they are willing to use the tech available to ensure their family’s wellbeing.
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