(Photo credits: Wikiwand) The biotech industry has always been a flourishing industry with constant new innovations. This led to a rise in investments in the global biotech economy. Costs of doing biotech research has also significantly decreased. One example of cheaper research costs is the cost of DNA sequencing. Sequencing technology has advanced so far that prices has dropped from almost $10,000 per megabase to less than a dollar per megabase. The graph below shows the rapid rate of increasing affordability of DNA sequencing, dropping by half almost every year. Time and time again the biotech industry amazes us with its remarkable growth and life changing works such as gene therapy and genetic modification.
So why is the biotech industry dying? To answer this question first we must look at what the biotech industry is doing for the general public. Lets name what the biotech industry has done to change lives: Gene therapy, creation of GM Food, Cancer treatments... ... ...well? Not many more huh? This is the problem of lack of transparency and educating the public on what the biotech industry actually is doing! Perhaps you could name research going on such as stem cell research or research for new vaccines and antibiotics, but the general public doesn't seem to know more! If we do not educate our investors in what we are actually doing, how are we going to maintain the confidence of our investors? Many of you people in business are there shouting " WITH GOOD MARKETING OF COURSE!" Well this is where the second issue comes about. Products of the biotech industry is falsely being marketed. To understand how it's falsely being marketed, me must look at the general public's view on how our products work. Lets look at sequencing technology again shall we? To a general public's point of view, DNA sequencing is most likely to perhaps get a blood sample, run it in a machine and voilà! We now have your whole genome. This is very wrong! It is definitely not as simple as that! Marketing and advertising our products so falsely like this is extremely detrimental to the biotech economy. Sure, we will get investors in the short run but once we are unable to produce products of the level of advancement we are advertising as, we will lose these investors! Soon, we won't have any investors and the whole industry will crash. Losing investors is one thing but once we start to lose the confidence of people looking to join the industry, all we are left with is our senior professors with no one to mentor or teach. That might just mark the end of an era for the advancement in biotechnology. And this is why the biotech industry might fall. If we don't start changing the way the biotech industry is run, this economy will just crash and burn.
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