WEEK 6: The BioBusiness Revolution 1: Healthcare and the Biomedical Sciences: Past, Present, Future

WEEK 6:  The BioBusiness Revolution 1: Healthcare and the Biomedical Sciences: Past, Present, Future

Let’s have a brief introduction of what biobusiness revolution is about:

-     Has the potential and will transform our lives and our economies which could be a likely mean for us to achieve a sustainable development.

-     BioBusiness already constitutes over 25% of global GDP and employs some 40% of the world’s labor force.

Now, taking a quick look in the video: http://www.youtube.com/watch?v=vGr3fq5Ho-I

It shows that the global world today is taking a further step to encourage innovation in the biobusiness industries. A recent major event such as the BIO Business Forum at the 2010 BIO International Convention marks the global platform for biotechnology.
It talks about how today’s society are able to tap globally to be more efficient in exploring partnering options. By capitalizing this advantage of productive, cost-efficient event and open the door opportunities, provides companies to collaborate and discover the next licensing and business development solutions.

Even though biobusiness have been proactive in many countries and still arising, there are keys factors which we have to consider still. For example; how the US healthcare business could actually be a major spender as compared to South Asia, East Asia yet showed no improvements in the bio sector. The failures to create the value add for the need in healthcare and health improvements ultimately faces a huge problem. Thus, tools and technology implementation have to be innovated to create value for the problem rather than just to cover up the problem.

In the class, the readings mentioned lots on the benefits of BioBusiness Industry.

We see that conditions of developing countries today lack even basic public health infrastructure and services – resulting in a large proportion of their populations facing bleak prospects for health and well-being. While modern approaches and technologies have been a potential to radical transforming public health and healthcare for those who previously could not afford such care as well as providing excellent levels of care for those who can afford.

In addition, a key issue is whether the benefits of innovation are rising faster or slower than the costs. It depends on our ability to determine the value of output from the health services sector, and putting a value on a longer life or a higher quality of life is hard to appraise

Pharmaceutical industry in Asia-Pacific market is among the fastest growing markets in the world.
The need for new developments in information and communication technology, and in medical devices for disease and wellness monitoring, create the opportunity to establish innovative service delivery approaches that are more cost-effective and can result in great improvements in health outcomes.

The field of bio-IT requires the cutting-edge information of technology and science to enable scientists to make better sense of the data and information so as to facilitate testing and evaluation of biotech products and their subsequent registration and marketing.

Apart from that, there is a great disparity in terms of privileges rights in terms of originator and innovators. We see that First World industries today are protected by "property systems, IPR," are deem to be clever (inventions). While the livelihoods of indigenous people, such as farmers are considered contributory and maintaining--but not originating. Thus, in most cases, indigenous and traditional societies are given a subordinate status.

Ultimately, there are 2 significant benefits to be realize in the future

• Improved national health, through improved clinical performance and early access to innovative medicine.

• Increased national wealth: enhanced Gross Domestic Product by maintaining and supporting a high growth, high margin, and high value-added, knowledge-based industry.

Lastly, I have found an interesting article regarding “Brain Coprocessors: The need for operating systems to help brains and machines work together” on this website: http://www.technologyreview.com/computing/26329/?p1=Headlines&a=f

Highlights on main points as follows:

-          There has been a surge in invention of technologies that enable the observation or perturbation of information in the brain.

-          It explores for purposes as diverse as lie detection, prediction of human decision making, and assessment of language recovery after stroke.

-          Where is provides a platform in understanding the brain and engineering functions.

-          Therefore, in the future, such system architectures might be capable of very advanced functions such as providing just-in-time information to the brain of a patient with dementia.