The health industry does not have to be a burden around the neck of a country. The health sector can grow to become an efficient, almost self-financing entity with proper means of stimulation. Many countries around the world seek ways to promote the health sector’s effectiveness, both regarding serving the needs of users and being financially stable. It, however, is often a difficult task because it demands very costly investments, and because of the vulnerability of the system to negative global economic tendencies.
The key, most economic and health experts cite, is to be able to promote the health industry as a way to stimulate the high-tech industry. Innovation in the field of medical services can fuel the whole economy and serve as a stabilizing factor.
The health industry usually plagues the economic stability of modern countries due to high medical costs and a rising number of people who need medical attention. This is why it is imperative that the health industry becomes a stable environment, with high wages to attract capable and productive professionals. This way, the health sector will become a strong potential to export goods and services and motivate scientific breakthroughs. These scientific spillovers will, in turn, impact many other hi-tech fields.
Furthermore, health policy analysts will be motivated to explain and define how improved health policies have broad implications which affect many different industries. The health industry has a great potential to influence the development of many other high-technology sectors.
This year we expect to see so many innovative products in the health sector. We will see smart watches which can protect you against sleep apnea, chest straps which will monitor the way our hearts function and then send the data straight to your smartphone, smart glasses for visually impaired people, applications which help you fall asleep and so many more.
IF the regulators see it fit that the health industry can be one of the main drivers of technological advancement and, hence, economical progress, we will look forward to good times. We hope that the people in charge will understand to loosen the chains of the health industry and stimulate it to become a driving force in our economy.