[SANTA CLARA, California] Despite rapid innovations in healthcare technologies and commitment among the scientific and clinical communities to provide better facilities and improved therapies, the high incidence of chronic diseases and age-related complications has ensured that there is still a large market for health and wellness technology.
According to PRNewswire on July 10, The urgent need for preventive healthcare solutions is encouraging companies to employ new business models and involve players that can aid in the technology development and commercialization process. The resulting surge in collaborations among large pharmaceuticals, biopharmaceuticals, medical device firms, small and medium-sized enterprises (SMEs), as well as start-ups and spinoff companies will accelerate the delivery of novel therapeutic systems.
"Significantly, new health and wellness technologies serve as a field test for innovative pharmaceutical and biotechnology companies," observed Frost & Sullivan TechVision Senior Industry Analyst and Associate Fellow Cecilia Van Cauwenberghe. "There is strong emphasis on research and development (R&D) as companies are striving to find the optimum customer niche in which to position themselves as innovators."
Top Technologies in Health and Wellness, 2017 is part of Frost & Sullivan's Health & Wellness Growth Partnership Subscription. After evaluating technology trends in the health and wellness sector, the analysis has identified the top technologies that will have an impact in 2017: precision oncology, molecular diagnostics, predictive biomarkers, cancer/tumor profiling, cellular therapeutics, gene editing, human microbiomics, immune engineering, biobetters and tissue engineering. The key objectives of these technologies are disease prevention, pain mitigation and affordability.
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The rise in the number of cost-effective, portable and easy-to-use diagnostic tools is ample proof of the R&D efforts of companies of all sizes. Their endeavors are drawing public and private support in the form of funding and investment in diverse therapeutic areas and advanced technologies. Technology developers are especially stressing personalization, wherein they study the diversity of disease triggers and pathogenesis in each individual to personalize therapies.
Meanwhile, the rapid advancement of micro and nanotechnologies is prompting venture capitalists and private investors to fund innovations in precision medicine. Pain management and neurosciences, in addition to hormonal therapies and metabolic disease treatment, are attracting the attention of many foundations and crowd-funding initiatives all over the world. The biggest areas of investment will be digital health, nanotechnology and genome editing technologies. The most remarkable areas promoting consumer engagement are big data, personalized medicine, implantable chips, delivery systems and wearable monitoring devices.
"R&D in health and wellness technologies has received a huge boost with fresh collaboration models and the inclusion of institutes and corporations from BRICS," noted Van Cauwenberghe. "In addition to signing partnerships with innovation leaders in specific therapeutic areas, technology developers have been establishing smart manufacturing centers that comply with all regulatory standards, enabling them to create well-rounded, future-proof technologies."