Amazing developments in life science are creating serious challenges the industry has never seen before, particularly when it comes to delivering quality healthcare via pharmaceuticals, prosthetics or other biotech processes that require a lot of research and development – and industry partners. There are some identifiable trends that will probably continue to influence the industry in the short term (next three to five years).
Tech and service opportunities will continue to inform the life sciences. As a great example, think of all the apps designed to take advantage of medical processes and services. The makers of Clarityn, for instance, created an app that provides is users with pollen count based on location, where to find nearby medication, and other related services. Tech can manage patient data in real time, such as a heart rate monitor that can notify a smartphone to call emergency services.
All tech generates a lot of useful analytics, of course. As companies generate loads of data, the scramble to find people who can analyze it and make it into marketable information continues. These kinds of analysis could help determine which therapies are most effective and valuable, better organize costs and improve outcomes. Expect data services to organize itself into its own industry in ways we’ve yet to full grasp.
Prototyping and 3D printing will fundamentally change the way we think about health sciences and health care. Already, biotech companies are racing to 3D print a kidney, use extensive additive manufacturing strategies to create molds for orthodontics, prosthetics, surgical plans and virtually any part of the medical industry you care to examine. The field is about to change dramatically in the next few years.
There are serious growth opportunities in biotech and life sciences, and more markets will emerge as tech breakthroughs continue. These shifts will change the relationship between companies, customers and collaboration. Are you ready to meet these challenges?