Human genome project brings economic returns of nearly $ 1 trillion
Today, a report published by the Battelle Memorial Institute, "The Impact of Genomics on the Economy," states that the economic benefits of the Human Genome Project (1988-2003) are continuing to grow and are ending. In the next ten years, the project brought nearly $ 1 trillion in economic benefits to mankind.
This highly controversial research report found that the US $ 14.5 billion invested in the Human Genome Project ten years ago brought more than 60 times the return.
Researchers say that the wide-ranging economic impact of human genome sequencing is continuing to grow. Specifically, through efforts to sequence human DNA, this project created an economic impact of $ 966.0 billion and tax revenue of $ 59 billion.
Dozens of biotechnology companies benefited from the landmark knowledge generated by the genome project, and opened a new era in the field of life science research. Ten years ago, the first complete sequencing of the human genome cost $ 14.5 billion, and today it takes only $ 1,000 and one day to completely sequence a human genome.
The National Institutes of Health, which opposes the reduction of federal research funding, said that it is not time to reduce biomedical research funding. This report proves that investments in life sciences and medicine are extremely important for the future of the United States.
Detailed report:
A controversial report released by the Battle Memorial Institute of the United States on June 12 pointed out that the economic benefits of decoding the human genome project continue to grow. Ten years after the end of the project, the benefits it brings are now close to $ 1 trillion.
The Human Genome Project, carried out from 1988 to 2003, was an international cooperation project led by the United States. The report pointed out that for every dollar of public funds invested in the initial sequencing research, the US economy has received a return of $ 178. This number is 26% higher than the result of the “return of $ 141 per dollar†obtained by the Battle Memorial Institute ’s first estimate of the economic impact of the study in 2011. The Battle Memorial Institute, headquartered in Columbus, Ohio, is one of the largest independent research institutions in the world.
There are many opinions
"The economic impact of the sequencing of the human genome is large, wide-ranging, and continues to grow," said Martin Grueber, lead author of the report and leader of technical cooperation practice research at the Battle Memorial Institute.
Francis Collins, president of the National Institutes of Health (NIH), also cited the report to oppose the reduction in federal funding. NIH is the vanguard of the Human Genome Project. "This is not the time to cut funding for biomedical research. The evidence proves that this is a very important investment for the future of the United States," he said.
However, economists who did not participate in the relevant work of the survey report said that this figure is not reliable. Critics added that the basic method used in the report is flawed because it quantifies the economic benefits of the Human Genome Project, rather than its impact on human health, which can be produced by methods such as patient rehabilitation, drugs, and diagnostic methods. Other indicators to measure.
Robert Topel, an economist at the Booth School of Business at the University of Chicago, Illinois, pointed out that the effectiveness of health research cannot be measured by its impact on GDP, productivity, or employment. He said: "The question is: what health benefits can people get from it, and what can everyone gain in the future?"
number games
In its initial research, the Battle Memorial Institute calculated the financial impact of the genetic engineering on the US economy until the end of 2010. The report uses an "input-output" economic analysis method to measure the direct and indirect output of the project through gene-related business and university research. The investment is mainly the government's initial allocation for the project.
The latest research goes further. The new study retrieved data up to 2012 and calculated the revenue per dollar from the initial government investment ($ 5.4 billion). In addition, it also calculates how the government will spend $ 9.1 billion on related gene research if the value of the input also includes the completion of the genome project. This kind of "spend money to do big things" approach will change. If calculated on the basis of the joint investment value of USD 14.5 billion, the Battle Memorial Institute assessed a return of 65 times-USD 1 returns USD 65.
Although not very concerned about the economic impact of genomics, other studies have reached more modest conclusions. An extensive analysis conducted by the US National Bureau of Economic Research in 2009, a nonprofit organization, showed that the return on investment in research and development was only $ 2.5-3 per dollar.
Julia Lane called the figures reported by the Battle Memorial Institute "ridiculous." Lane managed the scientific work in the National Science Foundation's Science and Innovation Policy Program until last year and is currently a senior management economist at the American Research Association. This analysis, Lane said, "reinforces the concept that science is a slot machine, you put money in it, a miracle happens, and finally money pops out."
She explained, for example, to define which industrial activities are affected by genomics, the data used by the Battle Memorial Institute comes from a company that collects company information for credit rating purposes-D & B based in Short Hills, New Jersey Companies, rather than using the more stringent industrial codes developed by the US Census Bureau. Similarly, Lane added that the Battle Memorial Institute used “unreasonable†employment data from D & B instead of high-quality data from the US Bureau of Labor Statistics.
other factors
Mark McClellan, a physician and economist at the Engelberg Medical Reform Center at the Brookings Institution, said that government investment cannot explain all growth in the genetics sector. "Some other factors, such as private investment and innovation, also contribute to the subsequent growth of clinical and practical applications of genomics," he said.
But Simon Tripp, senior director of technical cooperation practice at the Battle Memorial Institute, defended the latest report. He said that the method used in the report represents "the gold standard for impact analysis." Tripp also said that the report even underestimated the impact of the Human Genome Project on the US genetics and genomics industry because it focused only on human applications.
Bruce Weinberg, an economist at Ohio State University who did not participate in the report, also agreed that the Battle Memorial Institute used a very standard method. Nevertheless, he added: "The reality here is that we do not fully measure what we want to measure. Not only 'how many jobs have been created', but also 'how many lives have been saved'."
Topel compares the Battle Memorial Institute ’s method to the argument that armament expenditures are worth it because it allows many people to be employed in the construction of ships and aircraft. "In fact, those people can engage in other pursuits, and this should be included in the cost, not the benefits of arms expenditure." He said. The actual benefit of these expenditures is to strengthen safety, which is as difficult to measure as improving health, Topel added.
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