It is no secret that the Marvel Cinematic Universe has taken over the world. In 2021 alone, the top 4 grossing movies with the largest budgets (we are talking hundreds of millions of dollars) were all produced by Marvel Studios. The superhero phenomenon reflects humanity’s interest in technological advancements, demonstrating just how impactful progress can be. Take fictional character Tony Stark for example. In Marvel’s Iron Man, Stark is critically wounded and is only saved through a powerful electric generator, a piece of technology that he improves upon throughout the movie.
This piece of technology saves his life, but it also leads to saving thousands of other lives. It opens the door to a world of improvements. Now this may be a fictional story, but its relevance remains strong.
The advancement of technology is seen everywhere and anywhere, but what does this mean in the healthcare space and how can technology be used to promote a brighter and better future?
Director of the USC Neurorestoration Center, Charles Liu, believes it is becoming scientific reality for the bionics revolution to drastically change the future of medicine and the treatment of paralysis.
Liu has been constructing a “bionic bodysuit” designed to help people paralyzed by spinal cord injuries be able to walk again. This exoskeleton not only enables people to move, but the user could actually feel each step.
To make this a reality, a multidisciplinary team and approach is necessary, from advanced surgery to computational mathematics.
And like Tony Stark’s mission to use his armor for good, this technology is not about making people better, stronger, or faster than ever before: It’s about helping people get more out of life again.
The bionics revolution does not stop at paralysis. Across the world, researchers in the restorative health field are developing robotic hands, bionic eyes, and even memory implants.
What does this mean?
This means increased access to healthcare. This means patients will have the chance to treat diseases, injuries, and ailments at their onset, giving them a higher likelihood of quick and complete recovery. These advancements in technology are revolutionizing the healthcare system to become more personalized, proactive, and expedient without compromising on quality.
Investing in the Revolution of Healthcare
Real-world evidence and data demonstrates the tremendous value in investing in healthcare, especially when it comes to the revolution of technology in the space. Venture funding for health tech innovators, at $14 billion USD, almost doubled in 2020 compared to 2019 based on The Deloitte Center for Health Solutions. Investors see the post-pandemic era as the beginning of new opportunities that address well-being, care delivery, open and secure data platforms, and pricing of life-changing and life-saving technology.
For example, Open Bionics, a U.K. based company, makes robotic prosthetic hands affordable and accessible. Leading prosthetics today can cost up to $100,000 — a number that makes it incredibly difficult to acquire. By using emerging technologies like 3D printing, Open Bionics can cut the price down to unde $1,000.
Beta Bionics, Inc., another private company headquartered in Massachusetts, holds exclusive worldwide rights to commercialize the bionic pancreas technology developed at Boston University.
Aside from improving universal health and access to treatments, investing in healthcare technology could be a prudent long-term financial decision. Earnings have the potential to hold up in economic downturns, while displaying less volatility. With a growing body of evidence that biotechnology can improve health outcomes across a range of diseases and injuries, companies are considering the current moment to be an opportune time to invest in both biotechnology and the digital health market.
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