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Emerging Medical Sensing Technologies
Frost & Sullivan, Sep 2008, Pages: 126
This research service provides an overview of the emerging sensing technologies in the field of healthcare.
This Frost & Sullivan research service titled Emerging Medical Sensing Technologies provides in-depth information about various commercial diagnostic products and biosensing techniques available in the market today and those on the verge of commercialization. It examines the scope of biosensors with respect to their applications across varied healthcare-related areas, including drug delivery, medical devices, and nanomedicine. It aims to increase the market and product awareness among not only key industry participants but also the medical community and the patients themselves. In this research, Frost & Sullivan's expert analysts thoroughly examine the following technologies: non-invasive sensors, invasive devices, nanotechnology-based sensors, diagnostic test kits, and medical devices for medical diagnostic applications.
Market Overview
Biosensors' Efficacy in the Healthcare Industry Drives Advances in Medical Sensing Technologies
The healthcare sector's need for simpler and easier alternative methods of diagnosis, coupled with patients' demand for user-friendly, cost-effective techniques, have given a major impetus to the development of medical sensing technologies such as biosensors. This efficient, compatible, and user-friendly technology, which can detect minute quantities of biochemical or chemical components in a biological medium, has found growing acceptance among a wide range of applications in the field of ailment detection as well as analytical diagnosis. Owing to the increasing impact of nanotechnology as well as microarray and microfluidic technologies, both the medical sensing industry as well as academia are working toward developing new biosensor platforms for pain-free, accurate, and selectively sensitive diagnostic biosensors. A greater number of collaborations between the industry and universities will go a long way in the creation of newer and better biosensors. 'Researchers have now designed new-age biosensors that are non-biological elements capable of sensing biological parameters, which means that the sensing element in question works only in presence of the proposed biological element,' say the analysts of this research. Such improvements in biosensing are timely, considering the spurt in diseases all over the world due to unhealthy lifestyles, inadequate physical activity, and unreasonable occupational demands.
Despite all these advances, biosensors are still challenged by the limited lifetimes of their biological components since all organic materials, mainly when removed from their natural surroundings, deteriorate with time. 'Generally, it has been shown that pour enzymes have the lowest stability and tissue preparations have the longest,' notes the analyst. 'While analyzing the lifetime of biosensors, three aspects of lifetime can be considered: the lifetime of the biosensor in use, the lifetime of the biosensor in storage, and the lifetime of the biological material stored separately.' This being the case, researchers are striving to offer greater automation and convenience through noninvasive diagnostics. They are hoping to extend the longevity of the device by developing implantable yet completely automated and intelligent sensing platforms or sensors. The researchers' progress has attracted an increasing number of companies to this industry, yet the rate of growth is only moderate. This is mainly because being a standardized market, venture capitalists and acquiring companies have the freedom to wait and watch. This cautious approach has affected emerging companies significantly. Any small company with an innovative product, based on a robust technology, will have to be acquired or merge with a larger company to obtain return on investment and ease the commercialization process. This could prove daunting since bigger companies are facing a problem of plenty due to the presence of numerous similar products. The overlapping of technologies and products hinder each other’s potential market.
Once they figure out the companies that are profitable to acquire, large corporates will have to deal with the issue of rapid product obsolescence. This is because even though the rate of R&D is impressive in the biosensor industry, the products' market penetration is sluggish. Moreover, biosensor development – right from the R&D stage up to the production of the prototype product – is prohibitively expensive. 'Commercialization of products would require companies to form strategic collaborations such as partnerships with original equipment manufacturers, licensing, and joint ventures,' observes the analyst. 'However, forming these associations is a time-consuming process and hence, even the newer technologies may seem obsolete to the end users.' Researchers are hoping to overcome some of their challenges by developing products with greater unique selling propositions (USPs) by integrating wireless technology into the products as well as focusing on the creation of noninvasive monitoring systems and nanotechnology-based sensing devices.
Technologies
The following technologies are covered in this research:
- Blood analyte monitoring
- Disease detection
- Invasive biosensors
- Non-invasive biosensors
- Test kits
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