2 secondary responses 1. I think that one of the recent technology trends that is important to the biomedical industry is Robotics Surgery. Robotics is the future of surgery. Although already present in some capacity in many surgery procedures, robotics is still a relatively new trend thats expanding fast and taking a leading role in the performance of the actual surgery. Robotics play the role of the eyes and hands of the surgeon and is quickly expanding its role to also becoming the brain of the surgery. I think this trend is important to the industry because it is relatively still in its early stages with enormous growth potential that can benefit both the industry and patient. Especially in a time when pandemics are becoming more dangerous and a threat to populations, ability to perform remote or virtual surgeries will be in high demand. A business trend that I think is important to the industry is new innovative product launches. The biomedical industry is highly competitive space where for small or midsize companies its becoming harder to survive. Big corporations are buying small companies to get that competitive edge. There are two ways to be a leader in the biomedical industry. One is to be the best at manufacturing and distributing products that are already on the market. Low cost streamlined manufacturing and high quality in performance. It hard to rise above the competition by following this route, because there are several big players who are striving to be the best. The other way is to bring new innovative products to the market and disrupt the competition. Even small companies can compete this way because they focus their efforts in developing a product that the competition does not have. As technology advances at a rapid pace, new more advanced products are launching continuously pushing the envelope when it comes to innovation. This trend too is important to both the industry and to the consumers as it allows companies to thrive and generate revenue while also helping patients improve their lives. Erion Kallushi 2. There have been a lot of different trends in the medical field since I graduated as a veterinarian over a decade ago. Medicine has appeared to have shifted gears more towards biologics rather than synthesized compounds. Biologics appear to be more effective as many change the bodies reaction to a stimulus instead of trying to stop the response. For instance, Apoquel is an anti-itch medication that is commonly prescribed to allergic pets. It prevents cytokines from attaching, which prevents the itch. Due to its immunosuppressive qualities, and the unpredictability of cell division, a possible side effect of Apoquel is cancer. A biologic alternative is Cytopoint. It is a monoclonal antibody that prevents pruritis without the potential for neoplasia. As more biologics are developed, they may prove to be safer and more effective than traditional pharmaceuticals. A business trend that seems to have developed over the years are large corporate mergers of pharmaceutical companies. This serves the company well since it provides more resources to develop and market new medications. Once a medication is developed, it can be produced in mass quantities which lower the cost to the manufacturer and increase their profit margins. The larger pharmaceutical companies also have more influence of politicians which allows them to try to negotiate favorable regulatory policies. However, these savings are not usually passed onto the end consumer. The lack of competition also can cause the price of pharmaceuticals to increase.
