Genomics & The Pharma Industry

In 2020, the global genomics market was worth $23.11 billion. The market is expected to develop at a compound annual growth rate of 19.4 per cent between 2021 and 2028, rising from $27.81 billion in 2021 to $94.65 billion in 2028. COVID-19's global impact has been unprecedented and astounding, with genomics industry growth experiencing a positive demand shock across all countries during the pandemic. 

Dr. Vedam Ramprasad, CEO, Medgenome, said, "Covid-19 has changed the way we look at genomics. The last four or five years have seen a significant uptake in the sector. There is a large sector doing everyday transformation. For instance, at the TATA centre for cancer and oncology in Mumbai, roughly 20 to 50 patients get sequenced. But if we look at smaller cities, it will take some time." 

The Indian healthcare system has a long way to go to adopt the technology. Currently, if a person chooses to do their own genome sequencing, they must pay between Rs 10,000 and Rs 20,000. Any lab that wants to upgrade its equipment for genome sequencing will need around Rs 1.5 crore. 

Furthermore, Mr. Vishwanath Swarup, COO, BSV stated, "Genomics is how computing power has become so much cheaper, memory has become so much cheaper, coupled with this drug discovery has become much cheaper and much more targeted and effective. But we have to do it on a larger scale." 

The prevalence of data availability and genetic data being the "gold mines'' of the twenty-first century has led to large-scale data breaches which have become common and unavoidable. The standard safeguard, data anonymisation is inefficient in avoiding re-identification of people.

Furthermore, genetic data can be relevant for more than one generation. As a result, once information is retrieved from genetic data and in the hands of possible misusers, even destroying sequenced genomes does not protect individuals from the various potential genetic information misuses. 

"Anything new that comes out there is an element of risk. The government is moving fast on this. Data privacy has to be of prime, utmost importance. And I think when you are doing this trial, a lot of this is still not very very clear in terms of compliance, protocol, and many more. "Digital India can be brought here. We can try to make a trial 100 per cent digital because that leads to a lot of these issues being more manageable and controllable. This is the probable way out, " Mr. Swarup added. 

Mr. Ramaprasad commenting on the future of genomics in India said, "The way to go is public-private. Cost should not be the major factor. We have to keep momentum on all these fronts. "Scale is the new khel’. You take it to the scale. The economics of the scale will ensure that the cost should be significantly brought down. It is the government’s role in pushing, encouraging innovation, and pushing growth. If they do these three things, they do not have to do other things. A public-private partnership will take it forward." 

In today's world, a genome sequencing test can be completed in a short period of time and at a low cost. This has dynamically paved the way for early disease diagnosis and targeted treatment; we can now identify the genetic risk of developing a disease long before symptoms appear and, in some cases, can identify if the unborn child has inherited a disease that can be prevented or treated at the appropriate time. Most cancers are inherited, and steps can be taken to reduce or stop their progression. 

This insightful conversation was taking place at BW Healthcare Excellence Summit & Awards 2022.