Korea should standardize genome data to cope with the growing demand for genetic analysis and precision medicine, an industry report said.
The report by the Korea Biotechnology Industry Organization’s Bio-economy Research Center said so, after analyzing the global trends in standardizing genome data.
“To realize personalized medicine or precision medicine through genetic testing, testing results should be linked to other medical information so that hospitals can thoroughly analyze data,” the report said. “To enable this, Korea needs to develop various standards.”
As there is no standard for genome data, local hospitals cannot help but provide genomic test reports in texts for physicians and manage detailed examination results in Excel files, the report noted.
Since the development of standards in genome sequencing is at an early stage, Korea could lead the standardization of genome data with aggressive participation in the development, it added.
Increased attention to precision medicine and digital healthcare is also leading the growth of industries that analyze, integrate, and manage healthcare data.
According to Frost & Sullivan, an international market researcher, the healthcare IT market centering on ICT software and solutions is expected to reach $115 billion this year. The Asia-Pacific market is expected to account for about 10 percent of such demand.
The market researcher said an expansion of the health data integration platforms would be one of the significant changes in the healthcare market, along with the expansion of artificial intelligence (AI) utilization.
Currently, major local companies that offer genetic analysis include Macrogen, DNA Link, and LabGenomics.
Macrogen showed the fast earnings growth among them last year. The company’s revenue rose 11.7 percent to exceed 100 billion won ($92.4 million) in 2017, compared to a year earlier, with increased sales of DNA sequencing services.
<© Korea Biomedical Review, All rights reserved.>