On 31st August 2017, My Genome Box announced that the frequency of genetic data amongst consumers has risen as the related costs of genome sequencing have dropped. The rapid uplift of advanced technology has led to the widespread accessibility of genetic history.
Following this increased availability, consumers are highly interested in the personalised products market. This is expected to continue to grow at a Compound Annual Growth Rate (CAGR) of 10.3% from 2014 to 2020.
Officially launched in 2017 at consumer electronics and technology tradeshow CES Las Vegas, My Genome Box specialises in developing the technology of DNA App Store.
The DNA App Store
In 2016, MIT Technology Review identified DNA App Store as one of ten innovative technologies. DNA App Store is an online hub that enables users to digitally observe their genetic code by downloading and interacting with different applications.
By accessing and utilising this genomic big data, the DNA APP Store encourages users to manage and improve their lifestyles, including their beauty, personal care, health and wellbeing choices through genetic awareness.
Personalised genome data is the next phase of understanding genetic information. Through this technology, genetic information can be customised to appeal and upgrade individuals’ lifestyles in addition to being used for research or medicinal purposes.
Cloud-based genetic sharing
In June 2017, My Genome Box attended lifestyle technology event, CES Asia at Shanghai, where the cosmetics, fitness, wearable and medical device industries showed interest in helping their target audiences select their products based on their genetic understanding.
At the event, My Genome Box, an open sharing platform located on the cloud, was voted as one of the five most exciting products at CES Asia's startup park.
The platform enables users to store their genetic data in a “highly secure cloud”. All DNA app content is supplied by third-party app developers.
“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,” said My Genome Box in a recent press release.
My Genome Box anticipates that in the near future, industries including beauty creators and personal care marketers will provide recommended, personalised and tailored services based on personal genetic data.