Technology
Benefits found all in the genes
Updated: 2011-02-11 10:24
By Shen Jingting (China Daily)
"In China, the genetic testing market is almost a brand new area where competitors are few," Zhou told China Daily. She estimates that less than 10,000 Chinese people have been genetically tested, compared with a population of more than 1.3 billion. There are fewer than 10 qualified genetic testing facilities in China, she added.
"The New York Times reported that in the next three to five years, more than half of Americans with a middle school education or above will buy genetic testing products," Zhou said. "I hope the same thing will happen in China, too."
The global market for genetic testing is forecast to reach $1.8 billion by 2015, according to a report issued by Global Industry Analysts Inc, a leading market research publisher.
The increasing awareness of the potential benefits of DNA analysis has been one of the prime reasons for the growth of genetic testing, as well as the burgeoning demand for molecular diagnostics.
Guo Fanli, a pharmaceutical industry analyst with Shenzhen-based CIConsulting, speculates that about 20 percent of Chinese people may learn about or undergo genetic testing in the next five to 10 years.
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Zhou's iDNA Inc has received more than 10 million yuan in venture capital from various investors and companies, including Bayer China President Liam Condon and Poalim Capital Markets Group, Israel's leading investment bank by assets.
The US-based personal genetics company 23andMe, co-founded by Anne Wojcicki, the wife of Google co-founder Sergey Brin, has raised nearly $54 million in funding to date.
However, the genetic testing market is not without challenges. Factors such as gene discrimination and the degree of reliability of the screening remain questions.
Chen Lu, a Beijing-based financial analyst, said the prospect of someone insisting on seeing a potential mate's DNA test before moving ahead in a relationship is frightening.
"I would be OK with sharing the test results with my future husband, and I don't mind whether he wants to share or not," she said. "Life is a gamble. Sometimes you have no choice, especially when you fall head-over-heels in love."
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