Life Sciences Industry: Its Predictions and Influences for 2019

Inspired by biological cells, researchers from MIT, Columbia University, Cornell University and Harvard University have created computational robots whose purpose is to move and transport objects along with other tasks. This technological revelation comes in an era when the life sciences industry has been at its impressive peak and continues to show no signs of slowing down.

The future of the life sciences industry is shaping into one that benefits due to profitability and sustainability. A recent shift has been a collaboration with shareholders to generate a value – and outcomes-based care system in the healthcare field. This will open access to more affordable and higher quality care for emerging markets like those in Africa, Asia and Central and Eastern Europe. In addition, Asia will also see an increase in drugs and devices in research and development investments. Even powerful players like IBM, Amazon, Apple and Google have strongly dominated the home healthcare space.

Shaping tomorrow’s healthcare has meant:

Collaborations between health plans and healthcare systems.

More attention given to preserving and improving the quality of living for patients. In fact, for 2019, the healthcare industry will continue to see a transition in value- and outcome-based care system of up to a 15% This will also bring about more data-driven frameworks and sustainable reimbursement models. Countries like the United States, Canada, Sweden, France, Germany, Netherlands and Japan among others have already started shifting more of the GDP to reflect this future change.

Implementing more technological advancements that enhances patient’s engagement. It is expected that artificial intelligence for healthcare will be about $1.7 billion by the end of 2019. Furthermore, in the next 2 to 3 years will demonstrate a 10 to 15% productivity gain of AI across healthcare workflow platforms.

Being more open to adopting to virtual care alternatives.

More focus given to population health.

With the uprising success of the healthcare industry over the years, it is only natural to see the trickling effects it has had on other industries. So, when the researchers at MIT decided to start a project called ‘particle robotics’, a system based on the functionality and study of bio cells, it was a welcoming sight to see an association of both worlds.

Certainly, 2019 will be a year for the medical field as it moves forward, making great transformations and headlines in the market while proving to be an inspirational feat for its industrial counterparts.

References:

  1. “Particle robot” works as a cluster of simple units, March 2019, MIT
  2. Healthcare: its influence and importance in the economy, AMBA
  3. Top 8 Healthcare Predictions for 2019, Forbes