Challenges and opportunities in healthcare biotechnology

Biotechnology is a growing field that can lead to sustainable progression in terms of economic development, environmental protection in accordance to the needs of public health. The bloom in healthcare biotechnology sector has put forward infinite prospects that can further nurture healthcare system. Considering the international data, there is a high concentration of businesses in Europe and the United States and shows a promising upward trend for the future. The chapter has identified some of the important areas of application in modern healthcare biotechnology and relevant challenges in implementation as well as loopholes to be filled for improvement. Biopharmaceuticals are the third generation of drugs that have applications in the cure of harmful human maladies as a miracle of modern techniques of biotechnology. However, the hurdles related to commercialization, research and development (R&D), and inexpensive nature of these treatments still get in the way of its promotion in healthcare. Similar issues are associated with development and deployment of vaccines that though save lives but come with safety concerns. Botanical drugs assure to alleviate the “dry spell” overpowering the pharmaceutical hub, but the present regulatory framework regarding herbal medication is suboptimal because it fails to incite thorough efforts to R&D of effective drugs from botanical sources. Furthermore, big data analytics has combined power of various healthcare data sources, a very useful tool in refining the healthcare system. Genomic science is readily shifting from research labs to biobanks and further to the clinical setting due to progress in data analytics. Moreover, big data facilitates the development of precision medicine and clinical practice. Omics-based technology and systems biology has considerably expanded the scope of opportunities but comes with the challenges of data security and handling. Finally, nanomedicine is the face of tomorrow's medical intervention that can revolutionize present therapies. Sustainability of healthcare industry can be promoted by encouraging new biotech business and transfer of technology. Healthcare biotech has the potential to improve the health outcomes and reduce the health inequities at a global scale; however, the complete realization of the potential benefits of this science will need sustained and concerted effort and ingenuity over a long period of time.