Check out this graph from genome.gov:
Note the logarithmic scale on the vertical axis! Something else you may not recognize is Moore's Law, which is a long-term trend in the computer hardware industry that involves the doubling of computing power, a decent comparison to show the great progress of sequencing technology. Five years ago it cost over $10 million, but today it costs only $20,000 to sequence an entire human genome.
In the sequencing technology industry, the big goal is to develop a $1000 genome sequence in the next 5 years. If (more like when) this happens, I believe many things will change in medicine, and I bet many of you reading this may get your DNA sequenced by such a machine within the next decade.
For my next post I'll talk about nanopore sequencing, a cool technology that may get us to this 1000 dollar mark!