NEW YORK: Global X ETFs, the New York-based provider of exchange-traded funds, announced the launch of the 13th fund in its Thematic Growth suite, the Global X Genomics and Biotechnology ETF (Nasdaq: GNOM).
Designed to track the Solactive Genomics Index, the fund holds a basket of companies that potentially stand to benefit from advances in the field of genomic science, such as companies involved in gene editing, genomic sequencing, genetic medicine/therapy, computational genomics, and biotechnology.
GNOM's launch comes at a time when the DNA sequencing market is experiencing significant growth, with estimates expecting the market to grow from $6.2 billion in 2017 to $25.5 billion by 2025 - representing a compound annual growth rate of 19%.i As a result of significant technological advances in the field, it's estimated that anyone with $100 can now sequence their DNA, down from the $100 million it was estimated to cost in 2001.ii
The wide-ranging and transformative health benefits from advancements in genomic technologies are astounding, said Michael Hoffmann, research analyst at Global X. We're eager to see how investors engage with GNOM as a tool for accessing this disruptive theme.
Breakthroughs in genomic science can present new treatments to help patients recover from what were once believed to be incurable afflictions. Scientists have identified more than 50,000 genetic diseases caused by single-gene mutations, many of which are likely to be treated through genomic approaches, including several methods that have already begun to receive FDA approval.
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