In India, for example, innovative compact devices combined with smartphones are being used to diagnose illnesses. Thus the expensive equipment that was traditionally used abroad is not always necessary. There is also a unique business model of financing healthcare at the base of the pyramid. Another example of innovation may be the use of drones to dispatch blood samples and medicines in Rwanda or telecare in large countries (e.g. China).
Healthcare is one part of the global innovation ecosystem that is gaining in importance. Therefore this year the Global Innovation Index focused particularly on medical innovation. The countries listed in the previous article were ranked according to their innovation performance. This is based on:
- Innovation inputs (regulatory environment, higher education, R&D spending and infrastructure)
- Innovation outputs (e.g. online creativity or creation of knowledge).
Health and medical innovations
One of the goals of the United Nations is a healthier life. Innovation in this area is about immunisation, universal health care and investment in skilled medical workers in developing countries. Singapore, for instance, which is in the top five countries, prioritises health and medicine in its national innovation strategy.
There are new opportunities primarily in cancer treatment, pain management through neuroscience (without the necessity of using opioids) or treatment of spinal injuries, which could improve mobility for patients suffering paralysis.
3 types of challenge still remain
- Ethical: Genetic engineering requires new principles – especially the use of artificial intelligence in medicine.
- Social: Many people still lack access to quality healthcare. Another issue is increasing health costs.
- Economic: Data analytics brings power; therefore it is quite possible that before long decisions on health matters will be made at such companies as Google, Facebook, Baidu or Alibaba.
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