Genetic sequencing technologies are becoming increasingly cheap, accurate and accessible for researchers, widening the breadth of applications from diagnostics to drug development. Indeed, many of these technologies are available to the everyday consumer, providing information about genetic risk for diseases and guiding treatment decisions. This, in turn, will help consumers make more informed healthcare decisions as they become familiar with disease initiation and progression. Companies like 23andMe, Myriad Genetics and Invitae Corp. are expected to dominate the direct-to-consumer market and could reap the benefits of a market projected to be worth over $920 million by 2023.
|Scientists have also made great strides in the field of gene editing. Among the most notable accomplishments of the year are the launch of America’s first clinical trial involving CRISPR-treated cells and the advent of prime editing. There could be more gene editing innovations underway at the newly established Laboratory for Genomics Research, a facility spun out of a partnership between GlaxoSmithKline and the original CRISPR pioneers.|
|As the cost of these advanced genetic tools goes down, PwC predicts genetic testing will be part of mainstream medical practice in some countries and pharmaceutical companies could be investing as much as 20 percent of their R&D budget into genetics and genomics in the new decade.|