Biomedical and Healthtech Innovation: The Dilemma Between Purpose, Current Stakeholder Economics, and “Patient” Benefits / Desires — What Might the Future of Health Look Like?

Abstract

This paper discusses the prevailing challenges in healthcare innovation, emphasising the need to prioritise patient benefits over economic gains. It highlights the current focus on incremental improvements rather than disruptive innovations addressing broader health outcomes. There is a disconnect between healthcare stakeholders and patients, exacerbated by opaque economic models and profit-driven incentives. The disparity between high and low-income nations in accessing quality healthcare is also a major issue that needs to be solved. A shift towards a prevention-oriented healthcare system, leveraging technological advancements and interdisciplinary collaboration, should be an additional focus of innovation generation. Sustainable business models aligned with societal well-being and environmental preservation will likely develop initially in parallel to the existing ones. Future health delivery envisions a future healthcare paradigm centred on affordability, accessibility, and equitable distribution of healthcare services with a global purpose to “KEEP EVERYONE AND THE PLANET HEALTHY”.