Health care innovation

Pfizer and Moderna’s COVID-19 mRNA vaccines are compelling affirmations of the global character of innovation.

New treatments aimed to modify how the body identifies and handles disease have the potential to lengthen lives and create billions of dollars in revenue for firms that can effectively develop them.

The United States remains a world leader in innovation for a variety of reasons, but it is apparent that America will not be the exclusive source of pharmaceutical innovation in the future. According to the trend, China's pharmaceutical R&D spending is increasing drastically from 8% in 2014 to an estimated 50% in 2023. By 2030, China is expected to have numerous worldwide blockbuster medications. 

A major surge of innovation from health-tech businesses has resulted in better diagnoses — both in the lab and at home. Dexcom’s continuous glucose monitor, for example, enables diabetics to continually monitor their glucose levels and incorporate that data directly into an insulin pump.

New medicines aimed to alter how the body identifies and handles disease has the potential to lengthen lives and create billions of dollars in revenue for firms that can effectively develop them.

Exact Sciences, for example, has created liquid biopsy blood tests and genomic technologies that aid in the early identification of cancer and the investigation of complicated disorders. Remote patient monitoring and home diagnostics are becoming more common as technology advances.

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