More and more fortune 500 companies are showing their interests genomics, bioinformatics and precision medicine and hospitals IT shops. Technology giants around the world in particular are investing in precision medicine. Recently Google and Microsoft funded around 58 billion in precision medicine solution, DNAnexus. It is an American start-up company that provides a cloud-based data analysis and management platform for DNA sequence data. The start-up company aims to leverage its footprint in genomic data management for clinical trials through this funding. DNAnexus CEO Richard Daly asserts that “The financing enables further development and the launch of our translational medicine solutions, as well as expanding our footprint in cloud-based management of genomic data in clinical trials,
Precision medicine refers to precise cloud based data driven solutions. Traditionally physicians offered treatments which are designed by keeping an average person in mind. The analysis of disease by way of technology has rewardingly increased the level of customization. The cloud based global data facilitates preciosity in solutions. Precision medicine employs genes variations, environment and lifestyles to guide the preventions, diagnosis and treatments.
The global precision medicine market is burgeoning with fast pace and expected to accelerate its compound growth rate by 12%. Currently the market has an overall valuation of $45 billion and can be geared to $ 88.6 billion by 2022. As per the recent researches, the advancement of tools in terms of stores, shares, genomic data analysis can be the prominent growth driving factors. The cloud technology giants Google and Microsoft have strategized to employ this platform to power their healthcare departments. They are either eyeing on entering in strategic partnership with developed new precision solution or on launching their own sequent projects. Microsoft has launched an e-machine learning projects that assists with medical papers and data to advance doctors with exact solutions. It can even find the right drug regimen for cancer patients. On other side Google has established a cloud computing service which provides adept information about processes and analysis regarding genomics and biochemical datasets.
In addition to this contemporary investors like Foresight Capital, MidCap Financial, and TPG Biotech are also leading the industry with their profound participation.