Week 6: The Biobusiness Revolution Part 1: Healthcare and Biomedical Sciences

What is a biobusiness? Any commercial activity based on an understanding of life science and life science processes is known as a biobusiness. We looked into what constituted the biobusinesses, its surprisingly huge size and the revolutions that currently being undergone. We looked at the environment in which our healthcare and biomedical industries are currently in, such as our changing demographics and gene mapping technology.

Key Takeaways

For an industry to change, the circumstances have to be such as to warrant such a change. Could it be that the industry itself is facing a changing environment? Is there someone within the industry that believes that something can be done better? Based on what was discussed in the class, one of the factors I believe is a main cause for the biobusiness revolution is that the demographics of people these days has changed.

People these days have different needs from last time. Previously, more of us died from communicable diseases such as the cough and flu. Now, more and more people are dying from chronic illnesses such as osteoporosis, diabetes and heart complications. The medical industry has done an amazing job with curbing communicable diseases but now we’ll have to look more at the consequences of our changing lifestyles. There are now more biobusinesses focused on wellness rather than simply treating the symptoms of the disease. In the case of most chronic illnesses, the moment you start seeing dire symptoms, it may be already too late.

Another factor I can see influencing the biobusiness revolution is the mapping of the human genome. The mapping of the human genome has opened up a world of opportunites when it comes to the manufacturing and efficacy of drugs. We can now kiss goodbye suffering from certain side-effects when taking drugs. With our genes mapped, the doctors can now prescribe drugs catered personally to each and every one of us ensuring greater effect and lower-to-no sideeffects (hopefully). Soon we may come to a time when doctors prescribe us medication for diseases that we haven’t even contracted yet!

The last factor that I’ll be writing about here is the advancements of technology. Virtual reality gaming can be used to train surgeons now. Boosts in confidence with no risk of killing someone? Check. Advancements in prosthetics making the once disabled whole again? Check. Powered Exo-skeletons enhancing the physical capabilities of human beings? Check. I think it’s quite fitting to place John Naisbitts quote here:

“The most exciting breakthroughs of the 21st century will not occur because of technology but because of an expanding concept of what it means to be human”

Now that technology has evolved so much, a lot of these breakthroughs in biotechnology are really just the tip of the iceberg. I can’t predict what will be coming out next in the medical arena but rest assured, more and more exciting things are coming our way!

Ratings for the class:

In my first post, I stated that class times seem to zip by really quickly. That would be an understatement compared to how fast time flied in this class. Captivating information (and worrying about what to say next for class-participation) along with the growing interactivity found within the class make for a fast-paced and pleasant experience. I give this class a 9/10.