CPI recognises that the North East of England has an established healthcare R&D capability that can be nurtured and further evolved to innovate new healthcare solutions. The 21st Century will witness major transformations in the healthcare sector to meet the increasing expectation of citizens. At the same time, many Governments are struggling with existing and rising healthcare costs driven by modern lifestyles and ageing populations.
Several firms operating in this sector are experiencing a rapid increase in innovation costs and risks. Deep medical practical experience, knowledge of emerging medical technology, an understanding of healthcare economics and entrepreneurship will be key factors in maximising return on private and public investment and in bringing new diagnostic devices and medical treatments to market.
Key Drivers To Nanomedicine In Healthcare
CPI has identified six key drivers influencing the transformation of the healthcare sector, which will create many opportunities for innovation:
- Emerging Technologies
- Patient-centric preventative care
- Changing demographics
- Healthcare economics
- Restructuring commercial R&D
Advances in genomics, proteomics, biosensors, nano-scaffolds, lab-on-a-chip, nanoparticles, clinical diagnostics, silicon quantum dots, optical analysis, terahertz imaging, smart drug delivery, new generation implants, biocompatible materials and gene therapy technologies are offering novel approaches and new thinking for innovating preventative and personalised healthcare solutions
Patient Centric Preventative Care
Increasingly, diagnosis and treatment will be patient-centric. Personalised medicine, such as targeted drugs prescribed in-line with the individual patient¡¦s metabolism, and point-of-care genetic diagnostics for immediate near-patient prognosis will start to occur.
Information technology will play an increasing role in tomorrow¡¦s healthcare systems in areas such as bioinformatics, electronic records, wireless technologies for interconnecting medical devices to hospital computer systems, telemedicine, digital information resources and remote patient monitoring and alarms via smart wearable devices. As healthcare approaches decentralise, information and communication technologies (ICT) offer effective solutions to integrate systems and analyse diagnostics to aid prognosis
Changes in population demographics are also driving the transformation of the healthcare sector. People are living longer and in many developed countries the birth rate is falling resulting in an ageing population. The European Commission predicts that, in Europe, the population will peak around 2023 and then start declining. People's lifestyles, knowledge and diet are also influencing change
Governments today are challenged to manage their increasing healthcare budgets. They are seeking new strategies to shift the focus away from reactive 'cure' to more proactive 'prevention'. They favour early detection approaches with the aim of lowering costs and lifting the quality of healthcare services. Many governments are also looking at decentralising healthcare services, such as increasing home visits to reduce pressure on hospital wards, point-of-care diagnostics and paramedics attending only selected emergency calls
Restructuring Commercial R&D
The cost of commercial R&D is soaring - the cost of innovating new drugs since the mid 1990's has increased by a factor of 10. This is driving structural change and shifts in the global healthcare industry. Increasingly, large corporations are seeking to acquire new technologies from leading small companies and universities in order to reduce costs as well as restructuring their own organisations.
This information has been sourced, reviewed and adapted from materials provided by CPI.
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