Mumbai: TechVision, Frost & Sullivan’s technology consulting division, has identified new technologies impacting the health and wellness sector. These technologies offer a number of opportunities for innovative pharmaceutical and biotechnology companies to deliver their product to the market. Innovation plays a key role for companies attempting to find the optimal customer niche. Therefore, investments in research and development continue leading mainstream strategies.
New TechVision analysis from Frost & Sullivan, Health & Wellness Top 10 Technologies, profiles the top 10 technologies impacting the health and wellness sector. New business models and emerging trends, involving new players and collaboration, are assessed between large pharmaceutical and medical devices firms.
The top 10 technologies are: Biosimilars, Cancer Screening, Molecular Scissors, Next Generation Stem Cells, Therapeutic Antibodies, 3D Scafolds, Cancer Immunotherapy, High Throughput Gene Sequencing, Transdermal Drug Delivery and Nanomedicine.
Medical device and drug manufacturing companies enter long-term partnerships aiming to combine their drug delivery devices with the most active therapeutics, thereby bringing down the operational costs and saving a significant amount of time during the process. Similarly, life sciences research, cloud-based bioinformatics and nanotech-based companies are also partnering with giant pharmaceutical firms to help innovate in new customer niches and service segments.
More than 8.2 million people died of cancer, while more than 5 million people died of diabetes and other related disorders in 2015. Poor diet and factors such as pollution, smoking and high stress levels lead to greater disease burden. The global disease burden and excessive healthcare spending have resulted in numerous research and discovery programs. Increasing application of big data analytics has led to better management of genomic data, aiding in biomarker discovery and disease understanding.
“A higher concern and commitment among the scientific and clinical communities to provide improved facilities and therapies is essential. The aging population and chronic diseases continue to exhibit a dramatic rise, spurring the demand for novel solutions in the health and wellness sector,” said Frost & Sullivan’s TechVision Industry Analyst. “This is driving public and private support in the funding and investment of therapeutic areas and breakthrough technologies.”
Early adoption of operational analytics, gene editing, 3D printing, telemedicine, cloud-based computing and advanced biosensors are poised to ramp innovation efforts to a new level. Enhanced techniques for accelerating drug discovery have improved target selection, lead identification, preclinical tests, clinical trials, chemical synthesis, formulations studies and product management.
“Precision medicine has the ability to target diseases with specialized therapies, driving promising solutions. Last-generation transdermal drug delivery technology provides patients with more accurate and precise therapeutics delivery and monitoring,” noted the analyst. “However, the rapid advancement of micro and nanotechnologies creates a confident environment among venture capitals and private investors inclined to fund precision medicine-related innovations.”