Why ? Flashback to '78 when the term was coined maybe, but since roughly 2004 there has been an enormous acceleration in the amount of funds that are poured into this field.
Right now a large number of companies is actively building solutions to deal with enormous amounts of genetic data, pattern matching (see the various iterations of 'blast'), very rapid sequencing (a complete human genome now in about 14 days, possibly already faster).
Nanotech is still in its infancy in comparision, and major breakthroughs in nano machinery seem to be forever about 10 years in to the future (a bit like real A.I.).
