Sorry, but your understanding of how the pharmaceutical industry and regulation works is flawed. Regulation is not there to regulate profit intentions of companies, but to ensure the safety of patients and subjects. Pharmaceutical companies are among the companies that have the most relentless profit orientations. They wilfully ignore orphan diseases because these do not generate a profit and will abandon markets or diseases when competition increases and margins decrease (e.g. Roche and Johnson and Johnson have repeatedly indicated to abandon some of their markets in which competition is intensifying such as glucose monitoring).
I'm the first to admit I'm no expert in the field, but what you call flawed understanding might as well be lack of understanding of the point I'm trying to make or just me not able to explain it to you. So let's skip the silly ego of who-knows-best competition and allow me to try to explain it differently: I agree what you're stating about the industry. ^^
There are already many (consumer) electronics companies active in medical devices. Examples are Panasonic, which is in the top 5 of largest blood monitoring companies. Another one is Philips, of which the healthcare division is the most profitable in the company. There is no reason why a consumer electronics company could not build a very good medical department capable of competing with established names. There are numerous examples of that.
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Everyone knows this I didn't object for Apple making gadgets, there is no comment out there where I object for companies in general for making gadgets. That's beside the point. The point I'm trying to make is that I'm a bit worried when "profit" comes with determining the course of "how" technology and the pharmacy industry will shift the health industry in a direction where making profit is more important then the quality of good healthcare. I might easily be wrong here and since nothing drastic had happened so far and everything, both you and me are stating here, about Apple's plans are highly speculative. It's impossible to say if my concerns are legitimate. In other words, time will tell. It might as well be nothing, that Apple will just comes up with a simple watch that gives a patient some extra information about his or her health and that's basically it...
Now, if you look at the market and understand how it works, you will realise that increased competition by new entrants is exactly what is needed. It is the reason why innovation and progress keeps happening. An example is the invention of glucose test-strips and the increase in accuracy that is currently being pushed mainly by small new companies.
Nothing wrong with competition and new inventions, true. But let's just see what happens. So far nothing is concrete, there are only gossips so far about an upcoming health-watch.
This is also needed in medical software development. It is currently not a profitable field for most of the established companies, and therefore investments and progress are severely limited. Entry by Apple will be bound by regulatory requirements, which is a good thing.
i agree.
They will be held to the same standards as established companies. The thing that Apple can add to this market is incredible software development thrust and consumer behaviour knowledge. All fields that most established medical software companies are severely lacking.
It seems to me you have some kind of blind faith in Apple's skills in producing good working GUI's and software packages. first of all, that's of course just speculative as for now, in the past even Apple made some real disaster products when it comes to deliver good working software products. and in this field my knowledge is not flawed, I work in the media industry for over 20 years and grew up with Apple both with their triumphs and failures. So, also here the saying goes: let's see what will become of Apple plans in this.
The reason why many pharmaceutical- and medical fields are expensive and not sufficiently focused on the real user (the patient) is a lack of competition. The reasons are high entry barriers for new entrants due to the requirements on R&D, product development and regulatory, which in the case of medicines need an upfront investment of numerous years with associated capital. Apple can easily overcome these barriers on the software front. In that regard it is a mystery why they haven't already entered that market already.
in this I agree, and again, nothing wrong with Apple to try to come up with new gadgets to release the burden a bit of the issues as described by you. I'm just a bit worried they, Apple, might swift the industry in a direction where it's becoming a fashion thing to record every bit of health data that people will blind-fully trust to large companies for which the philosophy is not about actually making people more healthy but is focused on making profit.
Bill Gates does invest millions as well in a new type of refrigerators that doesn't require much power in order for keeping specific medicine cool. The end goal? Fill these refrigerators with medicine and ship them to poor area's in Africa. What's in it for Gates? Nothing. He spends millions and millions of healthcare issue's like the millions he's spending to cure malaria. Where is he after? Nothing, he doesn't mind in making profit here.
Again, nothing wrong with making commercial gadgets (by apple) and make profit with whatever they come up with, but it seems to me that what Bill gates is doing for years is, so far, more pragmatic and more needed for sick patients world wide.
Again, time will tell. One thing is for certain, and I agree on this with you, there is much to be improved in the health industry. The only question that remains, is it truly in the interest for the end users?
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i got excited when i thought you wrote "heathkit"
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