The healthcare industry is in a state of flux as it innovates to try to meet the demands of patients and investors. Patients and companies interested in investing in healthcare need to be aware of changes coming down the pipeline to make the best decisions for their health and their company. The following are some of the biggest trends experts expect to see in the near future.
Proliferation of Generics
Many patents are set to expire, opening the door for generic prescriptions. Patients have lobbied for years to make drugs more affordable, especially for chronic and life-threatening illnesses. However, patent holders and pharmaceutical companies resisted the notion due to the desire to protect their own interests. Now that patents are expiring, there will be an increase in generic prescriptions available and costs will drop as a direct result. This will also likely drive down over the counter drug costs because consumers will demand it.
Much like every other industry, technology is changing healthcare. Molecular engineering and gene editing are bringing doctors and scientists closer to being able to eliminate diseases like muscular dystrophy and cystic fibrosis. It is also revolutionizing cancer treatment options by allowing doctors to reprogram patient’s T cells to attack tumor cells. Every tumor is different, so this treatment would allow doctors to tailor T cells to match the patient’s specific tumor mutations.
Increased Focus on Specialty Diseases
In the past, scientists and researchers focused their efforts on diseases that affected the public at large. This meant that many capable innovators overlooked diseases that affected fewer than 200,000 people. Now, however, these forgotten illnesses are the recipients of renewed attention. Unsurprisingly, the interest is profit-driven. There is little competition and even less in the way of treatments. Even so, this represents an opportunity for improved quality of life and life expectancy for patients and a lucrative opportunity for investors.
The healthcare industry is rapidly evolving and the public should expect to see the above changes expand and innovate the field. To learn more about which trends will revolutionize healthcare, contact the experts at Trion.