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How DNA Testing is Creating Value for Consumers
The DNA stores information about a living organism. While the uses of DNA have been widely applied by biological, healthcare and forensic institutions, it can be applied in other areas. One of such examples is using DNA as a possible storage medium. The fact that the DNA can store up to twice as much data as the human brain while effectively retaining said data for thousands of years, is enough motivation to find ways to apply it in storage. Microsoft has understood the opportunities that this presents, and is taking some serious steps to exploit them.
For consumers, DNA can be used as an effective tool to create personalised products. By sending a saliva sample to a lab for analysis, consumers can learn how their genetic code and its information influences their health, wellness and traits. By sharing the results with brands, consumers can get products and services that best suit them.
Industry research estimates that in 2019, 26 million DTC (Direct-To-Consumer) DNA tests were purchased, and it predicts that within the next 2 years, the number could increase to a whopping 100 million. This growth can be said to be a result of the success of two companies; AncestryDNA and 23andme. With AncestryDNA spending $109 million on TV and other ads in 2016, and 23andMe investing $21 million in media ads in the US, their advertising investment to…
