Competitive Landscape

Acknowledging the rising demand and growth opportunities of the Pharmacogenomics market, a significant number of prominent players of various sizes are implementing some strategic plans to secure a significant position in the market.

Some Definitions

Operating Model: defines the way the business model is being operated and to what extent end-users are involved in any processes of creating ‘values’. Particularly, in a centralized model, users have very little control and almost no access to how the product is being developed. And this is completely contrary to a decentralized landscape, in which human-centered approaches are appreciated and the decisions are not made solely based on one organizational unit.

Accessibility to Drug Development: encompasses three factors ‘Affordability’, ‘Availability’ and ‘Acceptability’

• Affordability: whether the cost is impeding the effort to develop a new drug;

• Availability: whether the database and other resources are available in the first place;

• Acceptability: whether the process is respectful of relevant individuals, minorities, people, and communities in terms of confidentiality, consent, and ease of access.

Discussion

The bottom section of the quadrant mostly comprises top industry leaders in the sector, in which their operating models are ‘centralized’ and more organization-run. These pharma firms have some monopolistic advantages compared to newcomers, including technological capabilities for innovation, brand equity, and data resources. Because these firms have a diverse stakeholder portfolio, their products, and services lean towards a business-to-business focus. And this also affects how they are developing a new drug with a more complex and costly process of making. However, 23andMe, FamilyTreeDNA, and Prenetics are disrupting the healthcare industry with a more personalized approach and a vast proprietary dataset that can unlock any medical initiative.

In contrast, the top section of the quadrant lists some of the most recent DAOs or DeSci projects. Despite the fact that DAOs are governed by the community and for the community, the major difference is that most DAOs are established for researchers and laboratories to find funding or connect with other key parties, GenomicDAO put ‘individuals’ at the heart of the business to start any medicine initiative.

In contrast, the top section of the quadrant lists some of the most recent DAOs or DeSci projects. Even though DAOs are governed by the community and for the community, the major difference is that most DAOs are either fund-raising vehicles (such as VitaDAO) or dependent on other traditional genetic testing companies (such as Genomes.io). In contrast, the three following differentiators can set GenomicDAO apart from other competitors in this particular sector:

1. GenomicDAO is the only Desci company that offers gene decoding services which are viable for end-users.

2. GenomicDAO’s products are much more affordable which makes them accessible for all consumers of any background ($150 compared with $1000 for other companies).

3. GenomicDAO is the only Desci project that provides accessibility to drug development (billions of dollar market) for the Asian population.

Barriers to Entry

Being the pioneer in the market equals both opportunities and challenges.

Technological Challenges

According to an article by Health IT Analytics, one major challenge relates to how the system ensures the storage of data so that the data is secured and interoperable for actionable use in both healthcare and community settings.

Reluctant Adoption of New Technologies

The progress where the new advancement of personalized healthcare replaces the traditional one-size-fits-all model can cause certain denials in both the clinical practice and patients. As stated in an article from Pharmaceutical Technology in 2020, despite the prevalence of precision treatment in oncology, only about 20% of surveyed healthcare organizations in the US integrated precision medicine programs. And this is due to financial and operational barriers.

Health Disparities and Underrepresentation

It is believed that the advancement of precision medicine can widen the ‘gap’ for certain populations and perpetuate the existing disparities in the healthcare industry. Therefore, in order to reap the benefits of precision medicine and enter this niche sector, efforts are required to resolve the ongoing inequality and promote inclusivity in genomics through the extensive collection of diverse genomic data.