SEOUL, South Korea, Aug. 31, 2017 /PRNewswire/ -- As the cost of genome sequencing is decreasing due to rapid advances in technology, the number of people who have their own genetic data has increased greatly. This also leads to rapid growth in the "personalized" products market which is estimated to grow at a CAGR of 10.3% from 2014 to 2020.
DNA App Store which was selected as one of the 10 Innovative Technologies by MIT Technology Review in 2016, is now considered as one of the new leading industry opportunities among the various genome-based products and services available in the current market. The DNA App Store technology utilizes genomic big data to make it possible for anyone to manage or improve their lifestyle based on their genetic information. Through the development of this technology, genetic information is no longer just for research or medical purposes but also for individuals to manage and understand their own information to use them in various ways to upgrade their lifestyle.
MyGenomeBox, a leader in developing the technology of DNA App Store, was officially launched in January 2017 at CES Las Vegas. They also participated in CES Asia at Shanghai in June, where they were selected as one of The 5 most Exciting Products at CES Asia's Startup Park. During the exhibition period, MyGenomeBox attracted a lot of interest from a various industries including cosmetics, fitness, wearable and medical devices. Several opinion leaders in both the enterprise and policy fields from various countries visited the MyGenomeBox booth, and they praised MyGenomeBox as "one of the most innovative and creative business models in genomics which represents the fourth global industrial revolution."
MyGenomeBox is a user-friendly Open Sharing Platform for suppliers and consumers, where consumers store their genetic data in a highly secure cloud, which makes it easy for them to get access to their data and purchase DNA apps anywhere or whenever they need it. All DNA app content is supplied by third-party app developers while having no access to consumer's actual genetic data.
Unlike similar competitive offerings that are closed proprietary platforms and can only use the genetic data they create, MyGenomeBox accepts genetic data from any source including popular services like 23andMe and Ancestry.com.
The consumer genomics industry will be a driving force in opening a new future and the catalyst for disruptive innovation that will change our lifestyle. Personalized products based on your genetic information, like nutrition, wine and coffee is starting to appear in the market. In the near future, everything from gyms to restaurants will begin recommending and providing personalized services tailored just for you based on your personal genetic data and the possibilities for the future we can only begin to imagine.
Young Tae, Park
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