health web

Healthcare technologies - or "biomedicine" or "biomedical technologies" - represent a very specific area of biotechnology & chemistry applications. However, because of their life-saving, social, and economic impacts, they are of such great importance that they merit separate focus.

Healthcare innovation enables development of new medical products, which help people improve their health and lead to a higher quality of life. Moreover, a healthier society decreases pressure on public healthcare expenditures and thereby can also free-up financial resources to be invested in other areas. Furthermore, in the U.S. alone, health care spending was 2.9 Trillion USD in 2013 (US Centers for Medicare and Medicaid Services).

Biomedicine specifically has shown an incredible potential for healthcare innovations. More than 50% (80% according to some sources) of European biotechnology companies are involved in health-related activities, and the medicines resulting from biotechnological innovations count for roughly 20% of all marketed medicines and represent around 50% of all new medicines in the pipeline.

Despite such great potential of healthcare technologies and their significance to societies and economies alike, healthcare innovation can be stifled by the need for highly specialized and quality human resources, the high and long-term capital intensity of healthcare development, the risks associated with sunk costs, and complex regulatory approval processes. Thus, we take an intensive, specialized, multifaceted approach to healthcare innovation.

We see the research & development and commercialization of an increasingly growing number of biomedical innovations as propelled mainly by the application of interdisciplinary approaches (especially in the areas of biology, medicine, chemistry, material, and computer sciences). For example, “the (Healthcare IT) market is forecast to exceed $24 Billion by 2015 with a CAGR of 11%. The market is expected to be driven by governments' financial incentives and regulations requiring automation in healthcare practices.” (Global Markets Direct, “The Future of the Healthcare IT Market to 2015”, Dec, 2009). Thus, GlobeTech Innovation helps institutions, universities, and businesses develop collaborative relationships with one another to address every aspect of transitioning healthcare innovation to the marketplace.