The Pros And Cons Of Biomedical Innovation

A quick look at any biomedical innovation business website will show some of the many innovations accomplished over the years in the field. They stress how quickly they can design and have ready for customers, all the special wearables, and the many other technological developments, which offers humans a new or in some cases an improved way of living. One must be grateful for the numerous innovations over the years that truly improved the human’s ability to combat diseases and other limitations. However, like all innovations, along with the excellence, there is the dark side of the field. This I believe, and therefore, in biomedical innovation and especially in the practice, there must be some form of limitation. However, I would be the first

Bioethics is defined as a field of study concerned with the ethics and philosophical implications of certain biological and medical procedures, technologies, and treatments, as organ transplants, genetic engineering, and care of the terminally ill. Specifically, in medicine, it deals with the ethical and moral implications of new biological discoveries and biomedical advances, as in the fields of genetic engineering and drug research . The rapid growth and presence of ethicists in the field highlight the importance of the need for checks and balance in the area. This is no to say that the innovations in themselves are unethical, but that the implication of innovations can be unethical. With the rapidly evolving technologies and lack of full understanding of the effects by the innovators, it is up to another entity to outline consequences, possible consequences, and the need to prevent or limit these consequences. As the industry continues to grow, different stakeholders are motivated by different incentives. Innovators might be driven by a deep desire to help patients or a thirst for knowledge, and investors are driven by the prospect of profit, while patients want the best treatment that will not harm them. At the same time, others would argue from moral and social viewpoints. Conflating all stakeholders ineffectively can lead to problems. The desire for profit pushes investors to request innovators to design and