After years of exotic and very expensive machines sequencing DNA, the genomics industry finally looks poised for its cell phone moment.
Soon, the business of genetics could look a lot like the commodity-driven mobile industry, with providers selling hardware on the cheap and relying on software, apps and diagnostics to drive revenue. And, as with the app-filled smartphones we keep close to us 24/7, genomics could finally become a much more intimate part of our lives.
“With smartphones it’s the data and apps where the high value has accrued over time. In the case of sequencing, it’s going to be something similar,” said Jorge Conde, CFO and co-founder of Knome, a genomic diagnostics company. The question, he says, then becomes whether the market looks like Apple’s walled garden, Microsoft’s more democratic model, or Google, where everything happens in the cloud.
This article supports what Stanley Bergman the Chairman of Henry Schein said in Chicago. Technology will bring down the cost of medical and dental care and make it both more accessible and more affordable for underserved populations.
This is also a major theme of Eric Topol, MD in his book “The Creative destruction of Medicine”. Check out the book recommendation in the right hand column.
The biggest barriers to change will be health care reform and regulators dedicated to the current models.